NOVEMBER 11, 2014 — The Maritime and Port Authority of Singapore (MPA) says it has assessed that there will be minimal disruption to bunker supply in the Port of Singapore as a result of the OW Bunker bankuptcy.
There are currently more than 60 bunker suppliers in Singapore, and OW Bunker Far East (Singapore) Pte Ltd accounted for less than three percent of the 42.6 million metric tonnes supplied in Singapore in 2013, says the MPA.
MPA says it is working with the industry and the industry associations to mitigate any potential impact on bunkering operations in Singapore.
To address any concerns from the industry, MPA is working with the Singapore Shipping Association (SSA) and the International Bunker Industry Association (IBIA) to conduct dialogue sessions shortly. MPA will also work closely with the various stakeholders to ensure that bunkering operations in Singapore continue as smoothly and normally as possible.