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SINGAPORE: Transport Minister Raymond Lim said Singapore's marine fuel sales may rise to a record level this year, despite an economic slowdown.
From January to September this year, marine fuel or bunker sales in Singapore reached 26.4 million tonnes – up 12 per cent over the same period last year.
"Taking into account a possible slowdown in growth, the Maritime and Port Authority of Singapore, or MPA, forecasts a full-year sales volume of 33 to 35 million tonnes this year, a record volume that would uphold Singapore's position as the world's top bunkering port," said Mr Lim.
To further boost Singapore's reputation as a bunkering hub, the transport minister announced plans on Wednesday to introduce a new code of practice for bunkering – believed to be a first in the world.
The new code sets out guidelines and procedures for fuel delivery between bunker tankers, and from bunker tankers to vessels. This will be implemented in the second half of next year.
- CNA/so
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