Singapore Maritime Industry Grows with Fuel Sales Surge and Biofuels Potential in 2024

The maritime industry in Singapore is experiencing significant growth and opportunity for success. In 2024, more than 4 million tons of fuel were sold each month, with the total reaching over 4.5 million tons in August. Despite this, biofuels sales only totaled 68,000 tons in the same month, indicating a large potential for expansion in the industry.

Hui Ling, a representative from the industry, expressed excitement about the increasing volumes of fuel sales across ports. They are also looking to diversify feedstocks and collaborate with shipowners to help them achieve their lower carbon intensity goals. The Fuels, Lubricants, and Shipping teams are working with strategic allies and customers globally to further enhance their operations and offerings.

Overall, the maritime industry in Singapore is poised for growth and success. With a focus on expanding fuel sales, incorporating biofuels, and collaborating with stakeholders to reduce carbon emissions, there are ample opportunities for advancement in the industry. By working together with partners and customers, the industry is set to achieve its goals and make a positive impact on the environment.

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