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OFAC sanctions Singapore, Malaysia firms of Triliance Petrochemical network

Singapore-based Asia Fuel PTE. Ltd., Unicious Energy PTE. Ltd., Malaysia-based Sense Shipping and Trading SDN. BHD., amongst firms added to OFAC list.

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The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) on 9 February sanctioned nine entities across multiple jurisdictions that have played a critical role in the production, sale, and shipment of Iranian petrochemicals and petroleum to buyers in Asia.

It has targeted six Iran-based companies, and three firms in Malaysia and Singapore for facilitating the sale and shipment of petroleum and petrochemicals on behalf of Triliance Petrochemical Co. Ltd., which OFAC designated on January 23, 2020 for facilitating the sale of Iranian petroleum products from the National Iranian Oil Company (NIOC).

IRANIAN PETROCHEMICAL PRODUCERS

OFAC is designating Iranian petrochemical producer Amir Kabir Petrochemical Company (AKPC), a major polyethylene producer. Triliance has purchased millions of dollars’ worth of low density polyethylene (LDPE) produced by AKPC for shipment to buyers in the People’s Republic of China (PRC). OFAC is also adding Simorgh Petrochemical Company, a fully owned subsidiary of AKPC, to the List of Specially Designated Nationals and Blocked Persons (SDN List).

OFAC is also taking action against four subsidiaries of Iran’s Marun Petrochemical Company, which OFAC designated on June 16, 2022 for its role in supplying millions of dollars’ worth of petrochemicals to Triliance. Iran-based Laleh Petrochemical Company, Marun Tadbir Tina Company, Marun Sepehr Ofogh Company, and Marun Supplemental Industries Company, each of which operate in different capacities within the petrochemical and industrial sectors, are majority- or fully owned by Marun Petrochemical Company.

OFAC is adding Laleh Petrochemical Company, Marun Tadbir Tina Company, Marun Sepehr Ofogh Company, and Marun Supplemental Industries Company to the SDN List for being owned in the aggregate, directly or indirectly, 50 percent or more by Marun Petrochemical Company.

TRILIANCE NETWORK ENABLERS

Since late 2021, Singapore-based Asia Fuel PTE. Ltd. (Asia Fuel) has facilitated the shipment of petroleum products worth millions of dollars to customers in East Asia. Asia Fuel also arranged to pay storage fees on behalf of Triliance to house petroleum products in a Malaysia-based floating storage vessel.

Sense Shipping and Trading SDN. BHD. (Sense Shipping) is a Kuala Lumpur, Malaysia-based front company for Triliance that has facilitated Triliance’s shipment of tens of thousands of metric tons of petrochemicals to foreign customers. Sense Shipping previously operated under the name Eastchem Shipping SDN. BHD.

Singapore-based Unicious Energy PTE. Ltd. serves an important role in Triliance’s network, coordinating millions of dollars in petroleum-related payments for other companies within the network and aiding Triliance in its sale of hundreds of millions of dollars of petroleum products.

Related: Singapore: MPA investigation traces contaminated bunker fuel back to source at Port of Khor Fakkan
Related: OFAC updates list with shipping and petroleum firms over Iran involvement
Related: OFAC adds eight entitles from Iran, China, and Singapore due to petrochemical trades

 

Photo credit: tommao wang on Unsplash
Published: 2 March, 2023

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Business

Singapore: Singamas Petroleum Trading welcomes newbuild “Pacific Wise” to bunkering fleet

The 6,948 dwt Yanmar-powered marine refuelling vessel has a carrying capacity of 6,603 mt and is capable of operation on B100 biofuel.

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Pacific Wise 1 MT

Singapore accredited bunker supplier Singamas Petroleum Trading Pte Ltd (Singamas) on 15 June welcomed its newly built Singapore-flagged bunker tanker Pacific Wise (SB2777C) to its bunkering fleet.

The Yanmar-powered marine refuelling vessel, which has a carrying capacity of 6,603 metric tonnes (mt), is capable of operation on B100 biofuel.

Pacific Wise joins Singamas’s current bunkering fleet comprising of Pacific Sincere, Pacific Honour, and Pacific Pride at Singapore port.

“The successful approval of Pacific Wise represents an important milestone in the sustainable growth of our company,” Eric Loke, Chief Operating Officer of Singamas, told Manifold Times.

“Their collective efforts have enabled Pacific Wise to enter commercial service successfully.

“As Pacific Wise commences operations, we remain committed to delivering safe, reliable and high-quality bunkering services while supporting Singapore’s position as the world’s leading bunkering hub.

“We look forward to serving our customers with the highest standards of safety, compliance, operational excellence and customer service.”

Pacific Wise 2 MT

Alex Ow Yong, BBM, Adviser to Singamas, highlighted the development further strengthens Singamas’ commitment to provide safe, reliable and efficient bunker delivery services while upholding the highest standards of safety, operational excellence and regulatory compliance for marine fuel deliveries at Singapore port.

“We extend our sincere appreciation to the Maritime and Port Authority of Singapore (MPA), China Classification Society (CCS), our shipyard, consultants, business partners and all stakeholders for their invaluable guidance, professionalism and strong support throughout the construction, classification, registration and approval process,” he stated.

 

Photo credit: Singamas Petroleum Trading
Published: 24 July 2026

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Business

Singapore-based law firm Helmsman names Lin Yan Yan as Chief Executive Officer

Lin joins with over 15 years of senior leadership experience across Asia, most recently as Vice President at ONE Championship, Asia’s largest global sports media property.

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Singapore-based law firm Helmsman names Lin Yan Yan as Chief Executive Officer

Singapore-based multi-disciplinary law firm Helmsman LLC on Friday (24 July) announced the appointment of Lin Yan Yan as Chief Executive Officer.

Lin’s appointment took effect in June 2026.

Lin joined the company from ONE Championship, Asia’s largest global sports media property, where she served as Vice President with cross-functional responsibility across corporate development, commercial, and corporate affairs.

At ONE Championship, she led global teams, drove market expansion, and spearheaded strategic initiatives including the global distribution of ONE’s media rights worldwide, the structuring and closing of commercial partnerships with leading media, brand and government organisations, the launch and scaling of new business lines, and fundraising across multiple financing rounds. She also led ONE’s Analytics & Insights function and oversaw the organisation’s China business.

Earlier in her career, Lin was a strategy consultant at L.E.K. Consulting before transitioning into principal investing roles at Mission Holdings, VisVires Capital Asia, and Volta Circle. She began her professional career as a litigation lawyer at Drew & Napier LLC.

Lin holds an MBA from INSEAD, an LLB (Hons) from the National University of Singapore, and has completed MIT’s Applied Data Science Program. She is admitted as an Advocate & Solicitor of the Supreme Court of Singapore and is fluent in Mandarin.

Ian Teo, Managing Director, Helmsman, said: “We are delighted to welcome Yan Yan to Helmsman as our Chief Executive Officer. Yan Yan joins Helmsman at an exciting stage of the firm’s growth. 

“Her record of building and running complex organisations across Asia, combined with her deep commercial and strategic instincts, makes her exceptionally well-placed to lead the firm through its next chapter. We look forward to the energy and vision she brings to this role.”

 

Photo credit: Helmsman
Published: 24 July, 2026

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LNG Bunkering

Stabilis Solutions targets Q3 2028 launch for Galveston LNG bunkering facility

Firm received a LOR from US Coast Guard following a review of a LNG Facility and associated waterfront LNG loading, marine transportation, and LNG bunkering operations in the Port of Galveston.

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Stabilis Solutions targets Q3 2028 launch for Galveston LNG bunkering facility

Clean energy production solutions provider Stabilis Solutions (Stabilis) on Friday (24 July) said the proposed Stabilis Galveston LNG Facility is anticipated to be in production by the third quarter of 2028. 

It will come complete with the delivery of the first new-build, dedicated Jones Act-compliant LNG bunker barge in the Galveston/Houston area.

“This is a significant regulatory and project milestone for Stabilis,” the company said. 

This comes following Stabilis receiving a Letter of Recommendation (LOR) from the US Coast Guard following their formal review of the proposed Stabilis Galveston LNG Facility and associated waterfront LNG loading, marine transportation, and LNG bunkering operations in the Port of Galveston.

“This critical endorsement of our project from the USCG Captain of the Port to the Port of Galveston and the Galveston Fire Marshal comes after a rigorous safety and security review process,” it said.

“This included a comprehensive evaluation of the potential risks, including navigation hazards, vessel traffic density impacts, emergency response capabilities, maritime security threats, and application of appropriate mitigation measures.” 

Manifold Times previously reported Stabilis terminating a previously announced 10-year agreement with a leading investment-grade global marine operator to supply LNG from the company’s proposed 350,000 gallon-per-day Galveston liquefaction facility.

As a result, the company expected delays to the anticipated final investment decision, project financing, and development timeline for the Galveston LNG facility. 

Related: Stabilis Solutions terminates 10-year LNG supply deal, expects delay in Galveston project

 

Photo credit: Stabilis Solutions
Published: 24 July, 2026

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