Singapore-based global energy trading company Sing Fuels on Wednesday (15 January) was named within the Singapore’s fastest growing companies 2020 list compiled by The Straits Times and Germany-based global research firm Statista.
The ranking, where Sing Fuels received a position of 37 out of 100, is based on the firms’ compound annual growth rate from 2015 to 2018.
It highlighted the firm experiencing an absolute growth rate of 271% and compound annual growth rate (CAGR) of 55% from 2015 to 2018; revenue increased from SGD 93.9 million (exact: SGD 93,850,000) in 2015 to SGD 348.1 million (exact: $348,127,000) in 2018.
Sing Fuels’ employees rose from 10 in 2015 to 30 in 2018; the company was established in 2012.
“We had grown significantly over the past years and established as a reputable and successful trading company,” said Sonnich Thomsen, Managing Director, Bunkering at Sing Fuels.
“We ended the last financial year with exceptional results, and we are very proud of our achievements. For the current year we anticipate continuing the positive trend as we expand our team and enter into new markets.
“This ranking is definitely a good way to start 2020. We would like to extend our heartfelt gratitude to all our partners for making this new milestone possible.”
Related: Sing Fuels wins Enterprise 50 Awards for second consecutive year
Related: Sing Fuels receives Dun & Bradstreet Business Eminence Award
Related: Singapore: Sing Fuels receives prestigious Enterprise 50 Award
Photo credit: Sing Fuels
Published: 16 January, 2020
‘This biofuel bunker delivery represents a new chapter for Eng Hua as we are now moving with the times towards the era of decarbonisation,’ Mike Sin, Director at Eng Hua, tells bunkering publication Manifold Times.
MPA has also asked Glencore to improve its internal procedures to ensure that prompt action is taken in future when it becomes aware of, or reasonably suspects, any irregularity in fuel quality, it states.
Dynamic Asset Investments Limited and Goldsland Holdings Co Ltd helped Vermont UM Bunkering maintain a “Cash Float” of about SGD 100,000 to facilitate “buyback” bunker transactions at Singapore port.
Senior Cargo Officer gained SGD 48,800 worth of commission from “buyback” bunker transactions and illegally obtained SGD 410,712.257 by cheating Vermont, a Singapore court heard on Thursday (21 July).
Firm hopes to leverage partnership in Greece as a springboard to expand into neighbouring and overseas markets including Europe and China, says Robin Van Elderen, Regional Head Bunkers, Europe, Sing Fuels.
Singapore can help less developed countries in SouthEast Asia through ‘piloting and scaling fuels and technology as well as a leading hub for green finance’, said DNV Group President and CEO Remi Eriksen.