In 2023, Equatorial Marine Fuel Management Services has maintained its leading position among marine bunker suppliers in Singapore, the world’s largest bunker hub, according to the latest data from the Maritime and Port Authority. This marks Equatorial’s second consecutive year at the top. TFG Marine, a subsidiary of Trafigura, climbed to the second-largest supplier, while Sinopec Fuel Oil Singapore surged to the third spot, rising an impressive 16 places. Industry sources attribute Sinopec’s significant increase in bunker sales in 2023 to the bunker supplier license awarded in 2022, with a particular focus on the high-sulphur market, where it has become a key player, challenging PetroChina. Sinopec has also expanded its storage capacity regionally.
PetroChina International Singapore dropped two spots to the fourth position in 2023, while Vitol Bunkers dipped one spot to rank fifth.
On another note, the top three marine biofuel suppliers in 2023 were Maersk Oil Trading, Chevron Singapore, and BP Singapore.
The maritime fuel sales in Singapore reached a record-breaking 51.82 million metric tons in 2023, fueled by unprecedented container throughput and a growing demand among shippers to experiment with alternative bunker fuels.
