Connect with us

Business

Exclusive: Peninsula’s Global Head of Supply & Trading relocates to Singapore, plans for regional growth

‘Coming here for me is a great opportunity to supervise and drive future developments which could shape our new operations within the Asian region,’ Alex Lyra tells Singapore bunkering publication Manifold Times.
Admin

Published

5 years ago

on

Alex Lyra MT

The Global Head of Supply & Trading and Board Member at leading international marine fuel supplier, Peninsula, relocated to Singapore in April, learned Singapore bunkering publication Manifold Times.

Alex Lyra, who has been at Peninsula for over 10 years, says the company is planning to boost strategic activity in Asia.

Lyra’s Role in Asia

“Though our physical operations are mainly focussed on the West, our customer bunkering patterns seem to be slightly leaning towards Asia,” explained Lyra.

“We already have a strong Singapore sales office to represent us in the region and being here in the republic seems like the obvious choice considering both the financial and skilled human resources available.”

Lyra was quick to share Peninsula’s growth in Asia comes not only from the traditional sales & supply side, but also from a variety of other stakeholders as well.

“Our banking, for example, is coming increasingly from Asian banks and we are also seeing an increase in appetite from other regional financial entities to partner up with us,” he shares.

“We are engaged in a shipbuilding programme in China and are working with various insurance companies within the region.

“These will be the kind of activities I will be focussing on; in addition to Peninsula’s traditional supply & trading operations.

“Relocating to Singapore for me is a great opportunity to really help drive and implement future developments which will further expand Peninsula’s footprint within the Asian region.”

Breakdown of Marine Fuel Sales

According to Lyra, Peninsula currently delivers total marine fuel sales of about 15 million metric tonnes (mt) per year and is amongst the biggest physical bunker players in the marine fuels sector. Sales are distributed across its international network from the Americas, to the European region to Asia and split between physical sales and reselling.

Current China Shipbuilding Programme and future plans

Peninsula currently operates around 40 bunker barges; though most of the company’s physical assets are located in the West, it is considering introducing its latest bunker tanker newbuild to the Asian market.

“We placed an order for three 8,000 dwt bunker barges at a Chinese shipyard with the first newbuild being used to support our Gibraltar Straits operations in early 2020,” he says.

“We are expecting delivery of the second vessel within the next three to four months [between August to September 2021] and hopefully utilise her in Asia. The third vessel will be ready around December this year.”

In addition to the construction of traditional bunker supply vessels and as part of the company’s recently announced strategic business strategy, Lyra confirms: “Peninsula is in the process of negotiating additional ship orders and is also reviewing further investments in the LNG area.”

“We are also actively monitoring other green fuel developments.  Peninsula’s pledge is to keep energy flowing to our customers and we are fully focused on this task.”

 

Photo credit: Peninsula
Published: 4 June, 2021

Related Topics:
Continue Reading

Legal

Singapore withdraws remaining 127 charges against Hin Leong founder OK Lim

Lim Oon Kuin, also known as OK Lim, was issued a stern warning and a district court granted him a discharge amounting to an acquittal for these charges on 17 July.

Admin

Published

11 hours ago

on

July 21, 2026

By

RESIZED Sora Shimazaki on Pexels

Founder of collapsed oil trader Hin Leong Trading, Lim Oon Kuin, also known as OK Lim, has had the remaining 127 charges against him withdrawn, according to The Straits Times on Monday (20 July). 

OK Lim was issued a stern warning and a district court granted him a discharge amounting to an acquittal for these charges, including those for cheating, on 17 July. The discharge means Lim cannot be prosecuted again for the same offences.

Lim, 84, is currently serving a 13½-year prison sentence after the High Court reduced his original 17½-year jail term in March 2026. He was convicted in 2024 on two cheating charges and one count of abetting forgery in a case prosecutors described as one of Singapore’s most serious trade finance frauds.

Lim was convicted in May 2024 of two charges of cheating the Hongkong and Shanghai Banking Corporation (HSBC) and one count of abetting forgery that proceeded to trial out of a total of 130 criminal charges.

He was first charged in court on 14 August 2020, and was subsequently handed further charges in court on 25 September 2020, 30 April 2021 and 24 June 2021 for his role in perpetuating fraud on various financial institutions. 

A total of 130 charges were eventually brought against him for cheating and forgery-related offences.

Related: Singapore: Hin Leong Founder OK Lim gets jail term slashed to 13.5 years

 

Photo credit: Sora Shimazaki
Published: 21 July, 2026

Continue Reading

Winding up

Singapore: Coastal Logistics Pte Ltd to be wound up voluntarily

Coastal Logistics was reportedly affiliated with troubled Singapore bunker player Coastal Oil (Singapore) Pte Ltd.

Admin

Published

11 hours ago

on

July 21, 2026

By

RESIZED Drew Beamer

Several resolutions for Coastal Logistics Pte Ltd were made during an extraordinary general meeting held on 14 July, according to a notice in the Government Gazette on Friday (4 July).

The following resolutions were duly passed during the meeting:

As Special Resolution

  • That it has been proved to the satisfaction of the meeting that the Company cannot by reason of its liabilities continue its business and accordingly the Company be wound up voluntarily pursuant to Section 160(1)(b) of the Insolvency, Restructuring and Dissolution Act 2018 (No. 40 of 2018);

As Ordinary Resolutions

  • that Mr. Wong Pheng Cheong Martin and Ms. Koay May Yee, both care of FTI Consulting (Singapore) Pte Ltd, One Raffles Quay, #27-10 South Tower, Singapore 048583 be appointed as the joint and several Liquidators of the Company for the purpose of such winding up; and
  • that the Liquidators be at liberty to open, maintain and operate any bank account(s) or account(s) for monies received by them as Liquidators with such bank(s) as they deem fit; and
  • that a Committee of Inspection will not be formed.

Manifold Times previously reported Nicholas James Gronow, director of Heng Tong Fuels & Shipping and Coastal Logistics, filed statutory declarations for both companies stating the firms cannot continue their businesses due to liabilities.

Both companies were reportedly affiliated with troubled Singapore bunker player Coastal Oil (Singapore) Pte Ltd. 

In 2019, several vessels owned by both firms entered the sale & purchase (S&P) market in Singapore.

Related: Singapore: Director declares Heng Tong Fuels & Shipping’s inability to continue business
Related: Heng Tong Fuels & Shipping in court over DBS Bank bunker tanker loan
Related: Singapore: Bunker tanker “Coastal Neptune” arrested
Related: Heng Tong Fuels & Shipping, Coastal Logistics tankers enter S&P market

 

Photo credit: Drew Beamer
Published: 21 July, 2026

Continue Reading

LNG Bunkering

PIL’s LNG dual-fuel boxship “Kota Elok” arrives in Singapore on maiden call

As the first of 13 new 13,000 TEU vessels joining its fleet, Kota Elok is equipped to operate on LNG and low-sulphur fuel oil that helps reduce our greenhouse gas emissions.

Admin

Published

11 hours ago

on

July 21, 2026

By

PIL's LNG dual-fuel boxship “Kota Elok” arrives in Singapore on maiden call

Singapore-based Pacific International Lines Pte Ltd on Monday (20 July) said its first 13,000 TEU LNG dual-fuel container vessel, Kota Elok, recently made her maiden call to Singapore on 15 July.

As the first of 13 new 13,000 TEU vessels joining its fleet, Kota Elok is equipped to operate on liquefied natural gas (LNG) and low-sulphur fuel oil that helps reduce our greenhouse gas emissions. 

The vessel also incorporated energy-saving features and digital technologies to reduce fuel consumption and enhance operational performance, as well as a bow windshield to improve aerodynamics, contributing to improved fuel efficiency and lower emissions over the course of long-haul voyages.

“Following Singapore, Kota Elok will continue her voyage on our East Coast Service 1 (ES1) route to South America, calling at ports in Brazil, Uruguay, and Argentina before returning to Asia,” the company said in a social media post. 

Kota Elok also became PIL’s first vessel to receive Lloyd’s Register certification for compliance with the IACS UR E26 and UR E27 cyber security requirements.

Developed by the International Association of Classification Societies (IACS), UR E26 and UR E27 are mandatory cyber resilience requirements for newbuild vessels contracted from 1 July 2024. 

 

Photo credit: Pacific International Lines
Published: 21 July, 2026

Continue Reading

Trending