SIBCON 2026: World’s leading bunkering hub confronts a rapidly evolving energy landscape, observes Equatorial Marine Fuel

As the global maritime industry accelerates its transition toward decarbonisation, Singapore’s position as the world’s leading bunkering hub is confronting a rapidly evolving energy landscape.

Choong Sheen Mao, Chief Operating Officer, Equatorial Marine Fuel Management Services, believes Singapore’s competitive edge has never been solely about the marine fuel itself, but rather the comprehensive ecosystem that supports it.

During a recent industry panel discussion on Strengthening Singapore’s Competitive Edge as a Global Bunkering Hub of the 24th Singapore International Bunkering Conference and Exhibition (SIBCON 2026) on Wednesday (14 October), Choong stated the future of Singapore’s success as a bunkering port faces a multi-fuel reality.

“We are probably the most cost-effective bunkering port in the world,” he noted, emphasising the port’s success is built on a foundation of infrastructure, trading expertise, and risk management capabilities that have been cultivated over decades.

The Challenge of the Multi-Fuel Era

The transition to alternative fuels – including LNG, biofuels, methanol, and potentially ethanol – presents a complex challenge, Choong observed.

Unlike traditional fossil fuels, which were readily available and accessible via existing infrastructure, the new energy landscape requires a more intricate supply chain.

He acknowledged while Singapore may not have been the fastest to initiate every alternative marine fuel trial, it has successfully scaled its operations to become a leader in key areas.

“We have actually participated in all the different alternative fuel supply chains over the past three years,” he said, pointing to the port’s current leadership in biofuel and LNG bunkering as evidence of its readiness.

However, he cautioned against complacency as the cost of rapid development for new infrastructure, such as LNG terminals, is significant.

“It’s important for us to actually continue to plan ahead,” Choong stated. “The cost of rapid development can be very high. If we have not prepared these issues… the cost is going to be astronomical.”

Ecosystem with Huge Marketplace as a Competitive Advantage 

Choong emphasised the port’s strength lies in its ability to provide a reliable, liquid market where shipowners can manage price risk effectively.

“We do not produce any oil in Singapore,” Choong explained. “But what is the significance of a trading and bunkering hub? It’s a very advantageous geographical position… we have a very liquid derivative market where you can actually manage your price risk by trading physical trades out of Singapore.”

This trading environment, combined with the port’s ability to facilitate simultaneous operations while providing a high-quality service, remains a primary draw for global shipowners to conduct bunkering operations at Singapore port.

Looking Ahead: Public-Private Collaboration

Addressing the question of whether the government should subsidise early investments in new marine fuel infrastructure, Choong advocated for a balanced approach.

He noted public-private partnerships are essential when entering new, high-cost areas, but emphasised the need for prudence.

“Nobody can do it by itself,” he said. “But of course, because it’s a very high-cost investment, we have to be very careful whether it’s public funds or even private funds. We have to be prudent in how we deploy resources.”

The path forward involves staying agile, continuing to set global standards, while leveraging the collective strength of the local maritime ecosystem to ensure that when the time for scaling comes, Singapore is ready, he concludes.

Photo credit: Manifold Times
Published: 19 October 2026