China-based bunker oil supplier Brightoil is increasing its presence in the oil and petrochemical hub of Singapore.
The company has leased 50,000m³ of tank storage space at Singapore's Horizon terminal, used to support the company's bunker operations.
The lease replaced an expired lease at Singapore's Universal Terminal.
Brightoil has also chartered a very large crude carrier (VLCC) for storing and blending fuel oil off Singapore for three months.
The company began bunker operations in the Asian hub port in January after being granted a bunker license by the Maritime and Port Authority of Singapore (MPA).
Brightoil is also planning to bring two bunker tankers to Singapore to boost its operations.
The double-hulled tankers would both have capacities of over 6,000 tonnes.