MPA awards supplier licenses to Minerva Bunkering and TFG Marine

Oil sector boosted with entry of two bunkering companies.

The Maritime and Port Authority of Singapore (MPA) has awarded two new bunker supplier licenses to Minerva Bunkering and TFG Marine, according to an announcement.

These two new players will increase the supply of marine fuel, compliant with the International Maritime Organization (IMO) 2020 sulphur regulations, bringing the total number of MPA-licensed bunker suppliers in the Port of Singapore to 45.

Minerva Bunkering and TFG Marine will be required to each operate at least two clean energy dual-fuelled bunker barges to drive more sustainable bunkering activities in the Port of Singapore.

The companies both complement Enterprise Singapore’s (ESG) effort in the bunker fuel trading sector comprising more than 70 players, the press release stated.

MPA added that overall bunker sales in Singapore grew 5.4% YoY, to 12.72m tonnes in Q1 2020 from 12.07m tonnes in Q1 2019. Bunkering services in the Port of Singapore and oil trading also remain resilient despite the global COVID-19 pandemic.