Correction: Bunker companies leaving Singapore
ShippingWatch published an article Thursday November 2 about the impact of Singapore’s fight against bunker fraud and the consequences of the introduction of obligatory flow meter in the bunker industry. The article mentioned Aegean’s recent decision to scale down its business in Singapore but did not stress clearly enough that nothing indicates that the decision is linked to the “war against bunker fraud," which was the expression used in the article. Aegean explains that the decision to alter its presence in Singapore is based on commercial reasons "because of the disappearing margins on business" adding that it was among the first companies to implement flow meter to support the campaign against illegal practices. There is no documentation to link the two issues and ShippingWatch apologizes to Aegean and our readers if anyone was left with that impression and has republished a new version of the article which can be read below. This version also includes adjustments published Saturday.
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