The performance of Singapore’s foreign bunkering and ship chandlers sector in the second quarter (Q2) of 2018 continued its downward fall on year, according to data compiled by the Department of Statistics (DOS) on Monday.
The data was presented as the Wholesale Trade Index (WTI) to measure the performance of the whole sale trade industry, which tracks changes within the republic’s foreign and domestic sectors.
The foreign WTI, which measures wholesale sales outside Singapore, showed performance of the bunkering and ship chandlers sector down by 7.9% on year during Q2 2018; performance in the similar sector grew 2.0% when compared to a quarter on quarter basis.
Interestingly, DOS recorded the country’s foreign bunkering and ship chandlers sector experiencing a downward fall of 5.2% on year in Q1 2018.
The domestic WTI, which records wholesale sales within Singapore, posted a 4.0% increase in the republic’s bunkering and ship chandlers sector on year in Q2 2018; when compared to the earlier quarter the sector posted a 4.1% gain.
The gains in the domestic bunkering and ship chandlers sector was “due to higher prices of petroleum and chemical products” seen during Q2 2018, says DOS.
Related: Singapore: Bunkering and ship chandlers sector in Q1 falls
Published: 21 August, 2018
GTT will design the fuel tanks for five 15,000 TEU LNG-fuelled container vessels which are expected to be delivered between Q3 2023 and Q1 2024.
IMO's current target is for a 50pc reduction in overall GHG emissions by 2050 compared with 2008 levels, and for a 70pc cut in CO2 emissions over the same timeframe.
Expressions of Interest are to be lodged with PricewaterhouseCoopers Advisory Services Pte. Ltd. by 15 October 2020, reads the notice seen by Manifold Times.
Argus Chairman and Chief Executive: ‘We expect the Zhoushan Bunker Index to serve as a regional benchmark as Zhoushan grows in importance as a regional bunker hub.’
Quah Ley Hoon will take over from Andrew Tan who will be retiring on 31 December, 2018.
Company is ‘well positioned’ to meet shipping industry requirements of 2020, says Chairman and CEO.
Top three positive movers in 2021 were Hong Lam Fuels Pte Ltd (+14); Sirius Marine Pte Ltd (+12); and TFG Marine (+11); according to the latest data from the Maritime and Port Authority of Singapore.
Webinar will offer delegates insights on the prevention of operational issues when using VLSFOs, along with an update on biofuels and bunker fuel quality trends for 2021 and its forecast for the current year.
Heating VLSFOs to prevent cold flow issues causes issues related to distillate ageing, and there is a gentle balance to be maintained when handling the product.
Research into n-paraffin distribution of VLSFOs has shown that they not only differ from MGO, but significantly differ from each other as well, states bulletin.
Bunker Holding and Dan-Bunkering have decided not to appeal the city court ruling in the case where the companies were on trial for breaching EU sanctions against Syria, states USTC.
Poll shows market participants think Singapore’s future as a bunkering hub in the near term will be impacted most by growth in alternative bunker fuels and intensifying competition from other ports in Asia.
