Business

Malaysia: Petronas Marine and Titan LNG repeat STS LNG bunkering partnership

Performs first LNG bunker delivery under joint contract for “Yuan Rui Yang”, the world’s first LNG-fuelled VLCC chartered by Koch Industries and owned by Cosco.

Published

4 years ago

April 13, 2022

Admin

Independent physical liquefied natural gas (LNG) marine fuel supplier Titan LNG on Tuesday (12 April) said it has partnered with Petronas Marine to deliver LNG to VLCC Yuan Rui Yang under a Term Supply Agreement.

The ship-to-ship transfer (STS) bunkering of the world’s first LNG-fuelled VLCC took place in the port of Pasir Gudang, Malaysia using the Avenir Advantage, Petronas’ long term-chartered barge.

The Yuan Rui Yang, delivered in February this year, is the world’s first LNG-fuelled VLCC and is chartered by Koch Industries and owned by Cosco.

The vessel is 333 metres long, 60 metres wide and 30.5 metres deep. It has a WinGD low-pressure dual-fuel main engine and two 3,500 cubic metre LNG storage tanks.

This is the first bunker delivery under contract agreement between Titan LNG and Koch Industries and marks another milestone for the Petronas-Titan collaboration, which has previously supplied LNG across Asia to vessels including the Siem Aristotle and several other smaller vessels that were en route from Asia to Europe.

This demonstrates Titan LNG and Petronas’ shared purpose to create a cleaner future.

Global access is now a reality as the LNG bunkering pioneers collaborate to deploy expertise worldwide. As the expansion of LNG infrastructure continues to build momentum in meeting cleaner energy demand, multiple players are coming together to ensure availability and supply, as well as technical assistance and compatibility.

As an independent supplier, Titan LNG assists customers and partner suppliers in realising the common goal of making LNG the preferred fuel for a sustainable future, helping both sides to optimise the LNG supply process and providing technical knowledge for efficient compatibility checks.

“We are proud of the strong and ongoing relationship with our supply partner, Petronas Marine, and the faith shown by our long-term customer, Koch Industries. As the LNG pathway gains recognition and momentum, taking a collaborative approach enables us to continue to deliver LNG safely across Europe, Asia and around the world,” said Titan LNG Commercial Director Marine Michael Schaap.

“Shipping companies such as Cosco and Koch are becoming much more aware of how to meet the 2030 and 2050 decarbonisation targets and recognise that the use of LNG as a marine fuel has a multitude of benefits.

“Not only its negligible local emissions profile but its clear global emissions reduction pathway through the introduction of bioLNG and hydrogen-derived LNG. This is why Titan is committed to providing access to LNG, and all commercially viable alternative fuels, enabling more shipping companies to start the journey towards a zero-carbon future today.”

Titan LNG’s collaboration with Petronas Marine has reached yet another milestone with the safe and smooth LNG bunkering supply to Koch Industries.

The collaborators believe that LNG, as the cleanest burning fossil fuel, is currently the best option for the energy transition. Petronas Marine, as a one-stop marine solutions partner in the region, will continue to ensure reliable and competitive LNG supply for the Asia-Pacific and Europe Trading route.

Global demand for LNG as a marine fuel continues to expand as the LNG pathway through bioLNG and eventually hydrogen-derived LNG becomes increasingly clear.

Titan LNG expects to have the largest network of LNG bunkering vessels in Europe by 2025 and will continue to form strategic partnerships with organisations to ensure global accessibility for its customers.

Photo credit: Titan LNG
Published: 13 April, 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