SIBCON 2026: Redefining Singapore’s role in the global bunkering ecosystem, from volume to value

As the global maritime industry faces a profound energy transition, Singapore is actively re-evaluating its strategy to maintain its status as the world’s premier bunkering hub.

During the panel discussion Strengthening Singapore’s Competitive Edge as a Global Bunkering Hub at the 24th Singapore International Bunkering Conference and Exhibition (SIBCON 2026) on Wednesday (14 October), moderator Caroline Yang, CEO, Hong Lam Marine; Chair, IBIA Asia Regional Board, led a candid discussion on the challenges of sustaining Singapore’s leadership in a rapidly shifting, multi-fuel landscape.

A Legacy of Leadership

Opening the session, Ms Yang highlighted Singapore’s extraordinary track record, noting the port has held the title of the world’s busiest bunkering hub for 38 years, with a record 56.77 million metric tonnes (mt) of bunker sales last year.

However, she posed a provocative question to the panel: “Are we confident that Singapore will be number one ten years from now?”

Ms Yang emphasised while volume is impressive, the port’s future relevance depends on the value it creates.

She noted competitors like Rotterdam and Shanghai are moving quickly to develop infrastructure for alternative marine fuels, including LNG, biofuels, and methanol.

The “Uncomfortable” Question of Competitiveness

Ms Yang steered the conversation toward the core challenge: in a multi-fuel world, why should shipowners continue to choose Singapore?

She argued Singapore’s competitive advantage has never been about the bunker fuel itself, but rather the entire ecosystem built around it – refineries, storage, finance, traders, suppliers, fuel testing agencies, regulation, and, crucially, “institutionalized trust”.

“The energy transition can change this ecosystem profoundly,” Ms Yang warned.

She questioned whether the assets and capabilities that made Singapore successful in the past – such as the use of mass flow meters (MFMs) for custody transfer and established bunkering standards – would automatically ensure success in the future.

The Path to a Multi-Fuel Future

Throughout the discussion, Ms Yang underscored the necessity of agility and reactivity. She pointed out the “three words” of success: flexibility, agility, and reactivity.

She noted while Singapore can learn from other ports, it must tailor those lessons to its own unique environment.

Ms Yang also stressed the importance of public-private collaboration. The Singapore government’s role in de-risking innovation, such as the SGD 200 million commitment to test new technologies, and the ongoing efforts to establish standards for new marine fuels such as ethanol and methanol.

Trust as a Competitive Advantage

As the session concluded, Ms Yang reiterated Singapore is not merely “gunning to be number one” but is focused on doing the best it can through continuous improvement.

She emphasised the defining competitive advantage remains the close collaboration between the public and private sectors.

“The ecosystem has made Singapore number one in conventional bunkering,” Yang said. “But will we be number one in the multi-fuel era? We have to keep working on that and rebuilding that competitive advantage.”

Ultimately, Yang framed the goal for Singapore as remaining the world’s most trusted, efficient, and innovative multi-fuel bunker hub.

“The measure of success is not that they chose us yesterday, not that they chose us today,” she concluded. “It’s whether they will still choose us tomorrow.”

Photo credit: Manifold Times
Published: 19 October 2026