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Peninsula Petroleum ready for IMO 2020, shares preparation strategy

Already started VLSFO deliveries since July, and expects to bunker more than 600,000 tonnes by 31 December.
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Global integrated marine fuel supplier Peninsula Petroleum Group (PPG) has released an industry statement sharing its IMO 2020 preparation strategy:

On 1 January 2020, the International Maritime Organisation's 0.50% global sulphur cap becomes effective, marking a major change to the marine fuel environment.

Over the past decade, Peninsula Petroleum Group (PPG), a leading global integrated marine fuel supplier, has further invested in and expanded its global physical supply and reselling capability. This is in line with the group's long-term business strategy built on conservative risk management, which puts PPG in a predominant position of 2020 readiness ahead of time.

Since July, PPG began successfully supplying VLSFO in Europe, the Americas and Asia to its customer base. CEO John A. Bassadone said, “To date we have delivered 300,000 tonnes of VLSFO in our physical supply ports of Gibraltar, Algeciras, Barcelona, ARA, Canary Islands, Malta, Panama, US Gulf Coast and Los Angeles. By 31 December more than 600,000 tonnes will have been delivered to our clients.”

PPG's focus on the importance of supply chain control and logistics has seen the group increase its strategic global storage positions during 2019, which today includes over 400,000 metric tons of terminal capacity in Europe and a further 370,000 metric tons across the Americas. The group also recently acquired its first Panamax vessel providing increased operational flexibility for product procurement, floating storage and cargo transhipments.

PPG have purchased and added an additional seven product tankers to modernise and upgrade their global fleet of over 30 owned and chartered-in vessels. One of them, an 8,000 dwt tanker, is the first of a new building programme designed to offer more segregation, enhanced quality control and optionality.

On the product side, the business has secured the right flow of compliant fuels matching the demand of its blue-chip customer base enabling PPG to be fully prepared well in advance of 1 January. PPG's direct relationships with oil majors, large IOCs, refiners and large global commodity traders on the supply side have allowed the implementation of a diverse 2020 procurement offering which has provided clarity to customers on product availability in each of its physical locations.

Alex Lyra, Global Head of Supply & Trading stated, “We have secured the full mix of products and availability in our physical ports from reliable partners in advance of 2020 and beyond. Our enhanced supply chain offers customers comprehensive solutions across multiple locations.”

To ensure quality control and allay customer concerns, PPG's operations, logistics and supply chain control allow the purchase of products and components for the production and delivery of compliant fuels well within ISO 8217:2017 specifications, backed up by in-house technical expertise.

“By engaging our customers early on in the 2020 planning phase to better understand their fuel strategies, demands and concerns, we've expanded key customer relationships across our entire blue-chip portfolio,” commented Victor Morales, Global Head of Sales and Marketing.

“This has enabled us to develop a comprehensive supply offering which is relevant and competitive.”

Bassadone concludes, “We have been committed to growing our business in a conservative manner and we have invested heavily over the past few years in our people, especially in building out comprehensive middle and back office teams to bolster our controls and processes. Our approach has been endorsed by our stakeholders who've shown their confidence in our business.”

“In that regard we have aligned ourselves with the right strategic partners who share our vision. We are optimistic about the challenges and opportunities 2020 brings and our focus of delivering global solutions that add value to our clients remains unchanged.”

Photo credit: Peninsula Petroleum Group
Published: 13 November, 2019
 

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Winding up

Singapore: Notice of dividend issued for Hin-Leong linked Ocean Tankers

Second interim dividend for Hin Leong Trading’s shipping arm, Ocean Tankers Pte Ltd, is scheduled to be released from 31 July, according to Government Gazette notice.

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RESIZED ocean tankers

A notice of dividend for Ocean Tankers Pte Ltd, the shipping arm of collapsed oil trader Hin Leong Trading that is currently in liquidation, was published in the Government Gazette on June 11.

Ocean Tankers is part of a group of companies which include troubled Hin Leong, Universal Terminal, Tuas Terminal, and Ocean Bunkering Services (OBS).

It was reportedly owned by Lim Oon Kuin, the founder of Hin Leong Trading, and his daughter Lim Huey Ching. 

The following are details of the notice of dividend:

Name of Company : Ocean Tankers (Pte.) Ltd (In Liquidation)
Unique Entity No. / Registration No. : 197800020G
Address of Registered Office : One Raffles Quay, North Tower, Level 18, Singapore 048583
Court : General Division of the High Court of the Republic of Singapore
Number of Matter : HC/CWU 117/2021
Amount per centum : Second interim dividend of 2.00% of all admitted claims of unsecured creditors
When payable : 31 July 2026
Where payable : c/o Ernst & Young LLP, One Raffles Quay, North Tower, Level 18, Singapore 048583 

Related: Singapore: Notice of intended dividend issued for Ocean Tankers Pte Ltd
Related: Hin Leong in debt restructuring exercise; Ocean Tankers a separate entity, says CEO
Related: Ocean Tankers legal team publishes application to be placed under judicial management
Related: Judicial management applications for Hin Leong Trading and Ocean Tankers delayed
Related: Judicial managers of Ocean Tankers discover discrepancies and fraud in exposure claims
Related: Judicial managers of Ocean Tankers to present restructuring proposals to owners

 

Photo credit: Manifold Times
Published: 12 June, 2026

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Winding up

Singapore: Xin Hui Shipping to be wound up voluntarily, creditors to submit claims

Creditors are required on or before 11 July 2026 to send in their names and addresses and particulars of their debts or claims to appointed liquidators, says notice.
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Several resolutions for Xin Hui Shipping Pte Ltd, a subsidiary of the Lim family owned Xihe Holdings Pte Ltd, were made during an extraordinary general meeting held on 3 June, according to a notice in the Government Gazette on Friday (4 July).

The meeting was held at 8 Marina View, #40-04/05, Asia Square Tower 1, Singapore 018960 and by electronic means at 10am. 

The following resolutions were duly passed during the meeting:

SPECIAL RESOLUTION – WINDING-UP

That the Company be wound up voluntarily pursuant to Section 160(1)(b) of the Insolvency, Restructuring and Dissolution Act 2018.

ORDINARY RESOLUTION – APPOINTMENT OF LIQUIDATORS

That Mr. Lau Chin Huat and Mr. Yeo Boon Keong of Technic Inter-Asia Pte Ltd, 50 Havelock Road, #02-767, Singapore 160050 be and are hereby appointed as joint and several liquidators to conduct the said winding-up and that their remuneration be fixed on the usual scale of their professional charges for the work involved.

SPECIAL RESOLUTION – DISTRIBUTION OF ASSETS IN SPECIE

That the liquidators of the Company be authorised to exercise any of their powers given by Section 177, 144 (1) and (2) of the Insolvency, Restructuring and Dissolution Act 2018 and to distribute to members, in specie, any part of the assets of the Company.

In another notice, the liquidators said creditors for the company are required on or before the 11 July 2026 to send in their names and addresses and particulars of their debts or claims, and the names and addresses of their solicitors (if any) to the liquidators. 

Liquidators may also require creditors to, “come in and prove their debts or claims at such time and place as shall be specified in such notice, or in default thereof they will be excluded from the benefit of any distribution made before such debts are proved.”

The liquidator can be contacted at the following address:

Lau Chin Huat
Yeo Boon Keong
Joint and Several Liquidators
c/o Technic Inter-Asia Pte Ltd
50 Havelock Road #02-767 Singapore 160050
Tel: 6561 0398 Fax: 6222 1855
Email: [email protected]

 

Photo credit: steve pb from Pixabay
Published: 12 June, 2026

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Alternative Fuels

Ports of Barcelona and Shanghai team up to develop green ports, alternative bunker fuels

Agreement officially establishes the ‘sister ports’ relationship between Shanghai and Barcelona and aims to boost cooperation in areas such as developing green ports and alternative fuels.
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Ports of Barcelona and Shanghai team up to develop green ports, alternative bunker fuels

The Port of Barcelona on Thursday (11 June) said it signed a new strategic cooperation agreement with the Shanghai Municipal Transportation Commission (SMTC) and Shanghai International Port Group (SIPG).

The agreement officially establishes the “sister ports” relationship between Shanghai and Barcelona and aims to boost cooperation in areas such as the digitalisation and security of port operations; developing green ports and alternative fuels; intermodality and fostering sustainable maritime corridors between the Far East and the Mediterranean. 

The agreement was signed by José Alberto Carbonell, president of the Port of Barcelona; Xiao Hui, general director of the SMTC, and Yang ZhiYong, vice president of SIPG, in the presence of Jaume Duch, Regional Minister for European Union and Foreign Action. 

The relationship between the Port of Barcelona and the Port of Shanghai has intensified in recent years. In late July 2025, a preliminary agreement was signed between both port authorities, which led to a technical visit in September 2025 by a delegation from Shanghai led by Wang Haijian, Vice President and Director of Operations of SIPG, to advance the development of the Green Shipping and Digital Corridor between both ports. 

“This new institutional visit and the signing of the new agreement consolidates the Port of Barcelona’s position as a Euro-Mediterranean logistics hub and strengthens its links with one of the main ports and economic centres in the world,” the port said. 

 

Photo credit: Port of Barcelona
Published: 12 June, 2026

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