Hong Kong-based marine fuel and lubricant trading company Hongkong E-Marine Supply Service Corporation Limited (E-Marine) is planning to start operating a Singapore branch by June 2023, says its Managing Director.
“Our Singapore branch is under preparation and is expected to start business at the republic before June 2023,” Darcy Wang told bunkering publicationManifold Times.
Established in 2016, E-Marine transformed from a small trader to a medium-sized trading house during the Covid-19 pandemic; it now operates offices at South Korea, and in the Chinese cities of Shenzhen, Yantai and Dalian, shared Mr Wang.
In 2022, the company provided marine oil supply services to more than 100 customers serving more than 600 ships; resulting in a revenue exceeding HKD 1.5 billion (USD 190 million).
“Covid-19 disrupted the international bunkering sector,” explained Mr Wang.
“Overseas marine fuel suppliers and traders were unable to enter China and communicate effectively with local customers for more than three years due to the closure of China – producing obstacles for stakeholders.
“The change in market dynamics created opportunity for E-marine which capitalised it to produce a commercial breakthrough.
“Close follow-up and visits with Chinese customers during the past three years have allowed E-Marine to be continuously recognised by new customers and overseas suppliers alike.”
Experience operating within China’s domestic bunkering sector has also led to an increasing number of international trading firms using E-Marine’s services.
“Customs regulations are relatively vague for international customers to supply domestic ports [in China],” said Mr Wang.
“Hence, the solve the aforementioned challenges we provide customers with one-stop services of fuel supply, account settlement, and agent bank recommendation.
“To date, the markets we perform best include Singapore, Malaysia, China Zhoushan, Ningbo, and Guangzhou.
“This is on top of current bunker and lube oil trading operations at Hong Kong, South Korea, Japan, Taiwan, Thailand, Vietnam, Malaysia, West Africa, United Arab Emirates, and the United States.”
Moving forward, Mr Wang said he is committed towards building a one-stop service platform for marine oil products in Asia.
“In 2023, E-marine will continue to explore customer pain points with the mission ofacting as a better bridge between suppliers and customers between China and the international bunker fuel and lubricants market,” he stated.
“We intend to provide overseas customers with efficient, high-quality and convenient Chinese marine refueling services. Vice versa, we also strive to provide Chinese customers with efficient, high-quality and convenient overseas bunkering services.”
Photo credit: E-Marine
Published: 13 March, 2023
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