BP Singapore remained at the highest place among Singapore’s largest bunker suppliers when it came to amounts during 2014 according to information from the Maritime and Port Authority of Singapore (MPA). The oil giant had kept its place for the past eleven years while positions second to fifth stayed the same from last year (Sentek Marine & Trading, Transocean Oil, SK Energy International, Shell Eastern Trading).
In the meantime, OW Bunker Far East was positioned 11th in the order of top-20 bunker suppliers in terms of amount. The company had since stopped working after the demise of its head company, OW Bunker in November 2014. The bankruptcy of OW Bunker that followed without delay, had at the beginning created a credit critical moment where suppliers demanded money beforehand.
However, market soon returned to normal situation and the credit situation lasting a limited time had minimal influence on bunker sales. For example total bunker sales amounts in December 2014 increased by 1% to 3.57M tones in comparison to 3.54M tones during the previous month.
Generally, Singapore registered total bunker sales of 42.4M tones in 2014, a little bit behind the sales amount reached in 2013 at 42.7M tones. Some of the bunker traders based in Singapore had explained the shortage with more efficient application of ship-fuel systems including slow giving off steam and the decrease of economic operations in Asia.