Equatorial Marine Fuel Expands Tanker Fleet to Meet Growing Demand for Sustainable Bunker Fuels

Equatorial Marine Fuel, Singapore's largest bunker fuel supplier, is poised to expand its tanker fleet, as disclosed by a company executive in an interview with a news agency this week. The company plans to take delivery of its first IMO Type 2 chemical bunker tanker before the close of 2024, with an additional three tankers scheduled for arrival in 2025. This expansion will add four new vessels to Equatorial Marine's existing fleet of 20 conventional bunker tankers. Choong Sheen Mao, the Chief Operating Officer at Equatorial Marine Fuel, noted that this move is designed to bolster the company’s capacity to meet the increasing demand for bunker fuel in the region, further enhancing its operational capabilities in the maritime sector.

Choong explained that presently, half of Equatorial Marine's fleet is dedicated to delivering marine fuel oil, while the remaining half focuses on supplying marine gasoil. This expansion of the fleet comes at a pivotal moment, as the company is actively seeking new business opportunities in the realm of lower-carbon fuels. By broadening its service offerings, Equatorial Marine aims to respond to the shifting market demands and play a significant role in promoting sustainability within the maritime industry. This strategic move not only positions the company for future growth but also reflects its commitment to adapting to environmental considerations in fuel supply.

The new Type 2 tankers will have the capability to transport methanol or biofuel blends containing up to 100% biofuel content. According to MARPOL maritime regulations, only Type 2 chemical tankers are permitted to carry biofuel blends that consist of more than 24% biofuel content. This strategic investment positions Equatorial Marine to meet upcoming market demands and comply with environmental regulations.

Initially, the new tankers are expected to primarily deliver conventional fuels, as the demand for alternative fuels such as methanol and biofuel has not yet significantly increased, according to Choong. This approach allows Equatorial Marine to continue meeting current market needs while being positioned for future shifts in fuel demand.

Equatorial Marine was recognized as the leading marine bunker supplier by volume in both 2022 and 2023 in Singapore, which is known as the largest hub for ship refuelling globally. In response to the growing focus on sustainability, the company began selling marine biofuels in late 2022, marking a proactive step toward diversifying its offerings and addressing the evolving landscape of maritime fuel requirements. This strategic direction not only reinforces Equatorial Marine's competitive position in the industry but also aligns with the broader shift toward more environmentally friendly fuel options in the maritime sector.