Vitol acquires Sinanju to enter Singapore bunker market

Commodities trading house Vitol has acquired Singapore’s bunkering firm Sinanju Tankers Holdings, allowing Vitol to carry out bunker deliveries in Singapore, the world’s largest bunkering port.

Vitol Marine Fuels, subsidiary of Vitol, has controlled 100% stake in Sinanju. Sinanju’s Singapore bunkering license holding entity has been renamed Vitol Bunkers. The deal saw Vitol acquire a fleet of 15 Singapore-flagged bunker tankers including Singapore’s first and currently only LNG-powered dual fuel bunker tanker Marine Vicky of 7,990-dwt in capacity.

“With the acquired entity’s valuable expertise in bunker tanker operations and Vitol’s existing strength on the bunker oil supply side, Vitol Bunkers will be in a strong position to provide a high quality, seamless ‘end to end’ delivered bunker supply service in Singapore and internationally,” said Dato Kho Hui Meng, president and ceo of Vitol Asia.