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MOVES-Sinopec Fuel Oil appoints new trade director in Singapore to boost bunker sales

Reuters SG
·1-min read

SINGAPORE, June 3 (Reuters) - Sinopec Fuel Oil Singapore, a unit of Asia's largest refiner state-run Sinopec , appointed on Monday oil trader Kua Aik Hong as its trading director to further boost its trade volumes in the world's largest bunkering hub.

Kua joined the company from Hengli Petrochemical International, where he was formerly the head of derivatives trading. He has more than 17 years of experience in oil trading, having worked at BP and ExxonMobil Asia Pacific previously.

His experience in oil trading will help Sinopec to strengthen the trading team's capability to broaden connections with more international market players and business partners, the company said.

He is also expected to help Sinopec Fuel Oil Singapore expand its business beyond Asia to places such as the United Arab Emirates' bunkering hub Fujairah, Sri Lanka, and develop trade in other relevant products, the company said.

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The company trades fuel oil and other products with a combined trading volume exceeding 13 million metric tons in 2023, including 4.7 million tons for bunkering.

Sinopec Fuel Oil Singapore became the third largest bunker supplier in Singapore in 2023 after its parent company, Sinopec, won a license from the Singapore Maritime and Port Authority to supply marine fuel. (Reporting by Florence Tan and Jeslyn Lerh; Editing by Rashmi Aich)