Singapore
MORE small-scale marine fuel traders and suppliers are being ensnared in an industry shake-up amid a fast changing business landscape that is signalling further consolidation ahead.
BT has learnt that two licensed bunker suppliers, Wired and Barreloil, are said to have undergone massive downsizing and are now seeking new equity injections in order to stay in business.
A key shareholder of Barreloil is said to be reassessing options for his stake. Wired's website had been down for weeks, though it indicated this was a temporary technical glitch due to server and capacity issues.
The two firms did not respond to requests for comments from The Business Times as at press time. BT understands...