Business

ENGINE: East of Suez Bunker Fuel Availability Outlook

Singapore stocks rise on net import surge; Zhoushan continues to see muted demand; fuel oil grades tight in Fujairah, according to latest report.

Published

4 years ago

March 16, 2022

Admin

The following article regarding regional bunker fuel availability outlook for the East of Suez region has been provided by online marine fuels procurement platform ENGINE for publication on Singapore bunkering publication Manifold Times:

15 March 2022

Singapore stocks rise on net import surge
Zhoushan continues to see muted demand
Fuel oil grades tight in Fujairah

Availability varies between fuel grades in Singapore. Lead times of 7-10 days are recommended for VLSFO and HSFO380 grade, while LSMGO requires around 4-6 days.

Singapore’s residual fuel oil inventories climbed to three-week highs last week, boosted by a 158% net import increase, according to Enterprise Singapore data. Fuel oil mostly arrived from the UAE, Thailand, South Korea, Indonesia and Brazil in the week, according to Vortexa.

The port’s middle distillate stocks inched up to five-week highs, but remained close to recent multi-year lows.

Lead times for VLSFO and LSMGO in Fujairah are up to seven days out, while HSFO380 lead times are about 10 days out.

Suppliers in Fujairah typically source gasoil and other products loaded from Russian Black Sea ports. These cargo flows have been disrupted by ongoing war in Ukraine and limited access to gasoil and blend stocks. Cargoes have been difficult to secure, a source says.

Fujairah total oil product stocks were down 1.30 million bbls last week, with overall stocks down 6.8% in the week to 7 March, according to Fujairah Oil Industry Zone and S&P Global Platts data. The port’s light and middle distillate stocks dwindled on the week, while heavy residues posted a build.

In Zhoushan, bunker fuels are available for prompt delivery across fuel grades. Demand remains muted, says a source.

Bunkering could be suspended at anchorage in Zhoushan towards the end of the week as the port is forecast to experience gale-force gusts of up to 29-35 knots on Thursday and Friday, according to a weather forecast.

Chinese ports may see more congestion because of restrictions from the country’s zero Covid-policy. A pilot shortage has been observed in the port of Shanghai port as curbs on movement have been imposed due to a rise in Covid-19 cases, says a source.

Ports in the Shenzhen have seen more Covid-19 testing protocols introduced, potentially holding up port operations, according to freight forwarder SEKO Logistics.

Bunkering has been suspended in the Yangtze River port of Nantong, at Qingdao’s inner anchorage, at Lianyungang’s anchorage and the anchorage in Xiamen, the source adds.

HSFO380 availability is tight in Hong Kong.

Meanwhile, bunker fuel availability is tight across fuel grades in South Korea’s southern ports of Busan, Ulsan and Yeosu. Suggested lead times across fuel grades in these ports are 8-11 days out.

These ports may also witness gale-force gusts of up to 25-31 knots Thursday through Friday.

Bunker fuel availability in Japan’s Tokyo Bay area has become more limited as one refiner has stopped taking orders due to troubles at its refineries, says a source. Suggested lead times are up to 15 days out across fuel grades.

Photo credit and source: ENGINE
Published: 16 March, 2022

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.

Published

17 hours ago

July 21, 2026

Admin

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.

Photo credit: Sora Shimazaki
Published: 21 July, 2026

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.

Published

17 hours ago

July 21, 2026

Admin

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.

Photo credit: Drew Beamer
Published: 21 July, 2026

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.

Published

17 hours ago

July 21, 2026

Admin

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