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Singapore's grip on Asian bunker market challenged by China

Marine fuel sales in China have risen for the fifth straight year, spurred by competitive prices and an expansion of port and refining facilities. Singapore's status as the dominant supplier on the Asian market is under threat.

Photo: Bhp/Reuters/Ritzau Scanpix

Singapore is facing the greatest competition yet to its status as the dominant marine fuel supplier in Asia, with China luring more ships to its shores following a rapid expansion of its port and refining facilities.

China's marine fuel sales – known in the industry as bunkering – have almost doubled over the past five years and the nation is banking on attracting ships that travel to nearby ports in major economies such as South Korea and Japan. Singapore still has a commanding position as the top supplier to a sector valued at over USD 30 billion in Asia, but Chinese growth is accelerating.

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