BP Remains Top Singapore Bunker Supplier In 2008 - MPA

BP PLC (BP) was the top bunker supplier in Singapore in 2008, retaining the position for the sixth year in a row, followed by Exxon Mobil (XOM), data from the Maritime and Port Authority of Singapore's Web site showed Thursday.

New entrants to the top 20 suppliers list included New York-listed Aegean Marine Petroleum Network Inc. (ANW) and Singapore-listed Chemoil Energy Ltd. (AV5.SG), replacing Golden Island Diesel Oil Trading Pte. Ltd. and Seven Seas Oil Trading Pte. Ltd.

Titan Bunkering Pte Ltd., a unit of Titan Petrochemicals Group Ltd. (1192.HK), dropped to 15th place from 8th, after the parent exited the oil trading business last year.

The list compiled by the MPA has undergone much changes in 2008 following a year of record sales and the global credit crunch.

Some companies could have cut back sales to protect against defaults as turbulence hit the shipping industry late last year, said traders.

Singapore is likely to retain its status as the world's largest bunkering port after having sold a record 34.9 million metric tons of the marine fuel in 2008, up 10.7% from the previous year.

-By Florence Tan, Dow Jones Newswires; 65-6415-4067; [e-mail]

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