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prices just to win over volumes. “They [bunker trading firms] are not even

competitive. Their prices are way below market levels for anyone to compete,” a Singapore- based bunker trader says. Sources say the bunker firms can offer negative

$20 per tonne on a daily basis and compete for bunker stems as big as 3,000 tonnes. The firms are also capable of offering 30 days credit to entice shipowners. “The emergence of the small players is

killing the market. Price undercutting is all right; the question is how are the resources [oil products and capital] being provided for them to be able to undercut. The market needs a level playing field,” the industry player quoted earlier said. The source believes the Singapore

authority is closely monitoring the matter without being too “high-handed”. The local authorities have a long held publicly stated view that they do not get involved with commercial matters. An issue for Singapore bunker suppliers

is getting their voice heard and industry officials say they have longed for a united front that will help raise their concerns to the authorities. “IBIA could be the voice, though we are more aligned with the

Singapore Shipping Association and we hope the SSA can do more for us,” says Loh of Global Energy. The SSA is an association that represents a

broad spectrum of the Singapore shipping community. As such it currently fulfils a dual role of both representing the bunkering industry, and bunker buyers in the shape of its shipowners and shipmanagement members.


   

SENTEK MARINE & TRADING PTE LTD  Singapore 207915

 www 10 Seatrade Bunkering Report 2011


 The Singapore Int

 ternational Maritime Awards 2011

Incorporated in May 1993, we set to join the world’s leading bunkering port in Singapore, and the company is ranked 7th in 2010 by volume sales. We provide reliable and efficient bunkering services for all our associates and clientele and endeavour the highest standards in providing quality products. Operating 15 bunkering tankers, we strive to provide world-class bunkering, shipping and marine logistics services in the port of Singapore.

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