Singapore: Bunker supplier Toyota Tsusho Petroleum applies to wind up former barge operator Millennium Oil

Toyota Tsusho Petroleum Pte Ltd (TTP), a licensed bunker supplier operating at the Port of Singapore, has organised a winding up application against its former main barge operator Millennium Oil Pte Ltd, according to court documents obtained by Manifold Times.

The winding up application is directed to be heard before the High Court sitting at Singapore at 10:00am on 15 September 2023.

“Any creditor or contributory of the Defendant desiring to support or oppose the making of an order on the winding up application may appear at the time of hearing by himself or his counsel for that purpose; and a copy of the winding up application will be furnished to any creditor or contributory of the Defendant requiring the copy of the winding up application by the undersigned on payment of the regulated charge for the same,” it stated.

In May 2023, Manifold Times reported Tokyo-based Toyota Tsuho Corporation (TTC) deciding to cease the business operation of subsidiary TTP.

TTC announced it has established a new entity named Toyota Tsusho Marine Fuels Corporation (TTMF) in December 2022 which will commence operations in May 2023.

TTP was ranked 29th in MPA’s list of bunker suppliers by volume in 2022 (versus 22nd in 2021).

Note: A check by Manifold Times on the Maritime and Port Authority of Singapore website on 31 August 2023 has found Toyota Tsusho Petroleum and Millennium Oil to be still an active licensed bunker supplier and bunker craft operator respectively operating in the Port of Singapore.

Related: Singapore: Toyota Tsusho Petroleum ceases operations, new firm established
Related: Singapore: Toyota Tsusho Petroleum drops main barge operator, maintains bunker trading desk operations
Related: Singapore: Toyota Tsusho Corporation seeking $21 million from Brightoil

Photo credit: Manifold Times
Published: 4 September 2023