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Vitol Group acquires Sinanju Tankers Holdings; gains foothold in Singapore bunker ops

01 Apr 2020

Vitol Marine Fuels Pte Ltd, a subsidiary of the Vitol Group, has acquired 100% of Singapore-based bunkering firm Sinanju Tankers Holdings Pte Ltd (Sinanju), it said on Wednesday (1 April).

The Singapore Bunkering license holding entity, namely Sinanju Marine Services Pte Ltd, has been renamed Vitol Bunkers (S) Pte Ltd and from 1 April 2020 all bunker deliveries will be carried out by Vitol Bunkers (S) Pte Ltd.

The transaction also comprises of Sinanju’s fleet of 15 modern Singapore-flagged bunker tankers, including Singapore’s first and currently only liquefied natural gas (LNG) powered dual fuel bunker tanker Marine Vicky.

“With the acquired entity’s valuable expertise in bunker tanker operations and Vitol’s existing strength on the bunker oil supply side, Vitol Bunkers will be in a strong position to provide a high quality, seamless ‘end to end’ delivered bunker supply service in Singapore and internationally,” said Dato’ Kho Hui Meng, President and CEO of Vitol Asia.

Vitol Bunkers and its related companies will continue to operate as before, but under the Vitol brand.

Sinanju was the 14th largest bunker supplier by volume at Singapore port in 2019.

Related: Photo Essay: “Marine Vicky” in multi-agency emergency preparedness exercise at Singapore port
Related: Exclusive: Singapore top bunker suppliers reveal estimated sales volume for 2019

 

Photo credit: Manifold Times
Published: 1 April, 2020

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