China challenges Singapore’s market grip

Singapore – also the world’s biggest ship refuelling hub – sold about 50 million tonnes of bunker fuels last year, or a fifth of the global total. Industry consultant OilChem estimates China’s sales rose for a fifth straight year to 16.9 million tonnes.

SINGAPORE: Singapore is facing the greatest competition yet to its status as the dominant marine fuel supplier in Asia, with China luring more ships to its shores following a rapid expansion of its port and refining facilities.

China’s marine fuel sales – known in the industry as bunkering – have almost doubled over the past five years and the nation is banking on attracting ships that travel to nearby ports in major economies such as South Korea and Japan.