Hin Leong unlikely to restructure independently as probes uncover rampant practice of fraud on a “massive scale” to conceal debts, reported The Business Times
Financial market participants like hedge funds are expected to be the most active participants, while interest from physical market participants like bunker suppliers is less clear.
The company is also planning to consolidate its marine sales division due to COVID-19 and the narrowing bunker fuel price spread, says its CEO.
Primarily achieved by a 10% growth in volume and a reduction in operational costs and expenses related to counter party performance, says company statement.
Adamsen who holds an Oxford MBA is expected to drive the development and implementation of strategy throughout Bunker Holding, it said.
Both China and Singapore are committed to meeting their sustainability goals under the Paris Agreement, and have embarked on green finance agendas.
Sevastopol was penalised in 2018 by the U.S. for reportedly violating economic sanctions imposed on North Korea and was also briefly held in South Korea.
The first bunker fuel sale took place in the Black Sea in the port of Novorossiysk where 700 metric tonnes of newly produced fuel were delivered...
All departments of the organisation were involved in preparations at varying levels and a tailormade IMO 2020 in-house training program was rolled out, it said.
Buyers should target fuels with recent certificates of quality; certificates for fuel taken from floating storage could be as old as 2-3 months, it advised.
