Original Article here at Bunkerworld.com
Singapore-based bunker trader Sing Fuels has started offering bunker fuel at Sihanoukville, Cambodia, the company’s director, Satnam Singh, told S&P Global Platts Wednesday.
“We see opportunities in Sihanoukville with the opening of the Kra Canal in the near future, and thought it would be a good position to capture volume,” said Singh. “Cambodia is a good market with a lot of potential.”
“We are also looking into physical supply and floating storage in the medium term, but for now, we are looking to hire traders,” he added.
Sing Fuels is offering intermediate fuel oil 180 CST ISO 8217:2005 by truck at berth, and low-sulfur marine gasoil with maximum 0.05% sulfur, ISO 8217:2005 specification, by truck at berth as well as by barge at anchorage.
Sihanoukville is a major Cambodian bunkering port, frequented by container liners, fishing vessels and bulkers, with two channels in the south and north.
The north channel has a deeper draft of 10 meters, a width of 150-200 meters, and is one kilometer long, while the draft of the south channel is 8.4 meters, and is 80-100 meters wide and 5.5 kilometers long.
Sing Fuels traded an estimated monthly average of 42,000 mt of bunkers in financial year 2015-2016 (October to September). Singapore’s overall bunkering volume was 48.6 million mt in calendar year 2016.
The Singapore-based bunker trader is targeting a 20% year-on-year growth in marine fuel sales this calendar year 2017, by entering into new locations and consolidating its existing operations, Platts had reported previously.
Sing Fuels has offices in London, Dubai, Vietnam, Shanghai, Mumbai and Copenhagen.