October 11, 2017 / 6:10 AM / in 9 months

Singapore bunker fuel supplier Uni Petroleum does not renew license

SINGAPORE (Reuters) - Singapore-based marine fuel supplier Uni Petroleum Pte Ltd did not apply to renew its supply license with the city-state’s government, marking it the third supplier to leave the market this year in the world’s biggest refueling hub.

“Uni Petroleum did not apply for a renewal of its bunker supplier license which expired on 30 September 2017,” said a spokesperson from Singapore’s Maritime & Port Authority (MPA) on Wednesday.

The departure should have little impact on the marine fuel, or bunker, market in Singapore as the company has been inactive for most of the year, said three sources that participate in the market.

Calls made by Reuters to Uni Petroleum’s offices found the listed number was no longer in use.

In 2016, Uni Petroleum was the 45th largest bunker fuel supplier by volume in Singapore, down from 29th in 2015, the MPA reported.

Uni is the latest supplier to exit the Singapore market after Panoil Petroleum and Universal Energy. The MPA revoked Panoil’s supply craft license in August and did not renew the company’s supply license. The regulator also did not renew Universal Energy’s supplier and craft licenses.

The MPA found both companies violated regulations governing the licenses.

As of Oct. 3, there were 55 licensed bunker fuel suppliers in Singapore, MPA data showed.

Reporting by Roslan Khasawneh; Editing by Christian Schmollinger

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