SINGAPORE: Sinopec Fuel Oil (Singapore) Pte Ltd aims to raise its monthly bunker sales volumes by more than 50% after it received a licence from the Singapore government this month, says the company’s general manager.

       Chinese refiners are expanding their foothold in the global marine fuels sector by increasing sales and output of 0.5% low sulphur fuel oil at key ports in Zhoushan, in China, and Singapore in recent years.

       The Maritime and Port Authority of Singapore (MPA) awarded the bunker licence to Sinopec’s Singapore fuel oil unit on June 1, the MPA said on its website, allowing the company to use its own fleet to supply fuel directly to ships.

       The company plans to increase its bunker sales by about 50,000 tonnes to about 100,000 to 150,000 tonnes per month, General Manager of Sinopec Fuel Oil (Singapore) Zhou Jie told Reuters. — Reuters