Vitol Group establishes foothold in Singapore bunker operations
Vitol Marine Fuels Pte Ltd, a subsidiary of the Vitol Group, has acquired 100% of Singapore-based bunkering specialist Sinanju Tankers Holdings (“Sinanju”). The Singapore Bunkering license holding entity has been renamed Vitol Bunkers (S) Pte Ltd and from 1st April 2020 all bunker deliveries will be carried out by Vitol Bunkers (S) Pte Ltd.
Through the transaction, Vitol has acquired an expert bunker tanker manager and operator with extensive experience of physical bunker supplies in the port of Singapore, the world’s largest bunkering port, and a 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”.
Dato’ Kho Hui Meng, President and CEO of Vitol Asia said: “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.”
Vitol Bunkers and its related companies will continue to operate as before, but under the Vitol brand.