Business

Guangzhou govt issues bonded bunkering licence to PetroChina subsidiary

PetroChina Fuel Oil Company Limited became the third and latest company to be granted the licence by Guangzhou in an effort to expand regional bunkering operations.

Published

4 years ago

July 7, 2022

Admin

Editor’s Note: ‘PetroChina Fuel Oil Co., Ltd’ has been changed to ‘Guangzhou PetroChina Fuel Oil Co., Ltd.’ while ‘Guangzhou Municipal Government’ has been changed to ‘Guangzhou Municipal Bureau of Commerce’ to better reflect the accuracy of the names.

The following article published by Manifold Times on 7 July was sourced from China’s domestic market through a local correspondent. An online translation service was used in the production of the current editorial piece:

Guangzhou PetroChina Fuel Oil Co., Ltd, a wholly-owned subsidiary of PetroChina Company Limited, on Tuesday (5 July) obtained a bonded bunkering business licence from the Guangzhou Municipal Bureau of Commerce.

The leading supplier for bonded bunker fuel in the Nansha area became the third and latest company to be granted such a licence by the local authority after two other local players, namely Guangzhou Development Bibi Youpin Co., Ltd. and Guangzhou Circle Storage Co., Ltd., obtained the licence in February.

Guangzhou PetroChina Fuel Oil is capable of mobilising its refineries in South China to export about three million metric tonnes (mt) of low-sulphur marine fuel per year for ships on international routes, according to the local authority.

“Compared with important oil supply ports in Singapore and other places, Guangzhou Port, as an international hub port, is currently experiencing a gap between the scale of bonded oil supply and port development so there is a huge market prospect,” said a representative of Guangzhou PetroChina Fuel Oil.

“Nansha has complete petrochemical storage facilities and obvious location advantages. Nansha has become the centre of the world’s attention, and we have full confidence in the development of the bonded bunkering business in Nansha.”

Guangzhou Development Bibi Youpin Co., Ltd. and Guangzhou Circle Storage Co., Ltd. have completed bonded fuel delivery operations on 10 March and 12 April respectively.

To date, the total bonded fuel delivery is about 1,120 metric tonne (mt) with a total value of about RMB 6.3 million.

The recent development builds on the “Interim Measures for the Administration of Bonded Bunkering of International Voyage Vessels in Guangzhou” which was approved by local authorities in February this year.

The interim measures, introduced to enhance international trade at Guangzhou, allows local oil companies to obtain bonded bunkering business licences directly from the local government; instead of from the Chinese State Council.

Oil storage and distribution operations at Guangdong province are currently supported by the Nansha Xiaohu Island Petrochemical Zone. The area has 310 storage tanks with a total storage capacity of more than 3,174,300 cubic meters and 46 berths.

The Nansha area of Guangzhou Port is located in the centre of the Greater Bay Area. It can reach Zhongshan, Zhuhai, Jiangmen, Foshan and Dongguan within an hour, and can cover more than 80% of the province’s ship refuelling market within five hours.

According to data by the local authority, Guangzhou Port has a net increase of 13 foreign trade container liner routes from January to June.

As of June 2022, Guangzhou Port Group has a total of 199 container liner routes, including 154 foreign trade routes (16 in Europe, 13 in the Americas, 17 in the Middle East, India and Pakistan, 82 in Asia, 22 in Africa, and 4 in Australia and New Zealand) and 45 domestic trade routes.

Nansha port area has opened 180 liner routes, including 148 foreign trade routes and 32 domestic trade routes.

Photo credit: Manifold Times
Published: 7 July, 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

15 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

16 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

16 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