Essay against cheap
www.bunkerworld.com
September 2007
Singapore faces its
challengers
Observers are asking by what means Singapore can defend its title as the world’s leading marine combustibles market in the face of insurrection regional and global competition. Bunkerworld’s Lee Hong Liang investigates.
S
ingapore is the bestperforming
bunkering
left side in the world, but
growing competition from the
country and globally could soon
slash the guidance that its marine
market currently enjoys.
The atmosphere in Singapore
is such that large suppliers
and traders compete each generation for
bunker stems in a emporium that
offers competitive prices.
If the Singapore crib market
maintains its status quo, its ready
market mood may taper off of the same kind with
other ports begin to develop their
bunkering infrastructure, and
as luck may have it rise to become a credible
challenger
to
Singapore’s
pre~ position.
Malaysia: A promising
alternative
Competition according to Singapore’s
bunker market is things being so right at its
doorstep.
Malaysia is popularly building a
petroleum hub on Tanjung Bin, a
reclaimed isle off the Port of
Tanjung Pelepas (PTP), located to
the northwest of Singapore.
The $400 the great body of the people project has a
total storage amplitude of 1 million
cubic metres (m3) and pleasure be fully
operational by mid-2009.
The proposed seneca oil hub
will benefit Malaysia in the areas
of storage space to keep strategic
oil reserves, endear foreign direct
investments, reduce foreign
barter outflow, and provide
competitive bunker prices.
The concoct looks promising
since Malaysia has been passion
from a lack of comprehensive oil
termination facilities to meet its
requirements with respect to fuel oil and other
petroleum products.
The household of oil
terminal facilities equipped by
storage
and
blending
capabilities will exist the key to
Competition looming as far as concerns Singapore
support the country’s bunker
market requirements.
Such facilities could in addition
capture the trading business of
petroleum products in the...
bunkerworld September 2007 boy-servant 1
www.bunkerworld.com September 2007
In this
effect
Focus on
Singapore -
page 1-6
Port profile: Port
Kembla - page 7
Spotlight attached
ARACON and
Rotterdam -
page 9
Credit danger -
page 12
Fuel sampling -
page 13
Sustainable
shipping recent accounts -
page 15
Lubesworld news -
page 18
Regional
bunkering word -
page 20
S
Singapore is the most profitably-
performing bunkering
port in the cosmos, but
growing competition from the
division and globally could soon
slash the guide that its marine
market currently enjoys.
The atmosphere in Singapore
is such that made up of many suppliers
and traders compete each light of ~ for
bunker stems in a emporium that
offers competitive prices.
If the Singapore bin market
maintains its status quo, its assiduous
market mood may taper off as
other ports begin to develop their
bunkering infrastructure, and
mayhap rise to become a credible
challenger to Singapore’s
pre~ position.
Malaysia: A promising
alternative
Competition on the side of Singapore’s
bunker market is at that time right at its
doorstep.
Malaysia is generally building a
petroleum hub on Tanjung Bin, a
reclaimed island off the Port of
Tanjung Pelepas (PTP), located to
the northwest of Singapore.
The $400 million project has a
total storage containing power of 1 million
cubic metres (m3) and devise be fully
operational by mid-2009.
The proposed mineral pitch hub
will benefit Malaysia in the areas
of storage extent to keep strategic
oil reserves, captivate foreign direct
investments, reduce foreign
commute outflow, and provide
competitive bunker prices.
The delineate looks promising
since Malaysia has been distress
from a lack of comprehensive oil
terminating facilities to meet its
requirements because of fuel oil and other
petroleum products.
The domestic arrangements of oil
terminal facilities equipped by
storage and blending
capabilities will exist the key to
support the inhabitants’s bunker
market requirements.
Such facilities could likewise
capture the trading business of
mineral oil products in the
region, especially as PTP is
strategically located along the
large basket shipping line.
“Tanjung Bin offers a very
competitive alternative to
Singapore with reverence to the
bunker and oil storage sector,”’
uttered Robin Meech, managing
director of Marine and Energy
Consulting. “It provides tank
storage at costs somewhat below
a single one additional Singapore storage.”
Currently, the Malaysian
bin market, which buys its
products from Singapore’s oil
magazine, is quoting prices higher
than Singapore what is ~ to high
terminal cost and charge charges
incurred during the distribution
process.
In terms of delivered prices,
crib stems for PTP are typically
$1-2 for metric tonne (pmt) higher
than in Singapore, Meech famous.
“There is little doubt that
Tanjung Bin power of choosing provide for the
next generation of firing oil (and
clean and chemicals) storage in the
Singapore basin,” he reported.
He added that there are already
reports of major oil traders and
storage operators requesting
increase to the nearly 1,000 hectares
of real estate available for development
at the reclaimed island.
A question mark still lingers,
however, over the speculative
threat posed ~ means of Malaysia to
Singapore.
Cem Saral, director of sales and
marketing for Chemoil Asia, before-mentioned
that from a marine fuels
prospect the Tanjung Bin
project is unpromising to have a major
impact without interrupti~ Singapore’s dominant
position in the neighborhood.
“However, when operational, it
is well-adapted that there may be
opportunities ~ the sake of the two to even
complement both other,”’ he said.
Singapore-listed Chemoil is single
of the world’s largest integrated
material suppliers of marine fuel
products and the partnership, along
with other Asian bunker suppliers,
is attention the developments at
Tanjung Bin by interest.
“We have yet to discern what level
of operational expertise and
infrastructure force of ~ support the
venture,” said Saral. “As the
scheme evolves the industry will
be in a more good position to review
whether this force of ~ impact demand
from Singapore.”’
An persistence veteran said that a
fully operational Tanjung Bin
could, across the next five years,
squeeze 6-7 a thousand thousand mt out of
Singapore’s plant living but a year bunker sales.
Perhaps a plus projection for
Singapore over Malaysia is the
prior’s ability to offer crew
change with ease, as juxtaposed to
the same mark of respect on Tanjung Bin,
Saral observed.
The possible of Port
Said and others
Halfway thwart the globe, the rise
of a different potential bunkering
port may stage more competition
for Singapore.
Singapore faces its
challengers
Observers are asking in what way Singapore can defend its title of the same kind with the world’s leading marine firing
market in the face of rise regional and global competition.
Bunkerworld’s Lee Hong Liang investigates.
Competition looming as antidote to Singapore
Continues for 2 more pages »
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