The Maritime and Port Authority of Singapore (MPA) has played down the impact of the recent turmoils at O/W Bunker by saying that the company’s bankruptcy will cause minimal disruption to bunker supply in the Port of Singapore.
The MPA says that 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.
The MPA 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, the MPA is working with the Singapore Shipping Association (SSA) and the International Bunker Industry Association (IBIA) to conduct dialogue sessions shortly.
The MPA will also work closely with the various stakeholders to ensure that bunkering operations in Singapore run as smoothly and as normally as possible.