Aegean Bunkering (Singapore) Pte Ltd, the subsidiary of New York-listed Aegean Marine Petroleum Network Inc, has exited the Singapore accredited bunker supplier list, show latest Maritime and Port Authority of Singapore (MPA) data.
To date, there are a total of 56 accredited bunker suppliers operating at Singapore port.
“The bunkering market in general, and the Singapore market in particular, are extremely competitive,” said Jonathan McIlroy, President of Aegean, in a press statement in late October last year.
“We had hoped that enforcement of mandatory mass flow meter (MFM)-equipped bunker barging in January would have driven commercial improvement in the Singapore market allowing Aegean to compete profitably.
“However, 2017 has seen heightened commercial pressures in Singapore, and as a result, management has determined that Aegean's resources can be more profitably deployed elsewhere.”
The development by Aegean to exit the physical bunker supply market at Singapore, the world’s largest bunkering hub, has been questioned by several local bunker suppliers, they earlier told Manifold Times.
The company in late December was facing shareholder pressure; the Committee for Aegean Accountability expressed “severe” concerns regarding the shareholder value destruction caused by poor financial and operational management at Aegean.
Singapore bunker sales volume surpassed the 50 million metric tonne (mt) mark in 2017; the first year mass flowmeters was officially adopted for all fuel oil bunkering operations.
Published: 17 January, 2018
Vessel has been developed through a joint development project (JDP) between KR, KMS EMEC, and Singaporean shipping company Navig8, it said.
Production of low-sulphur marine fuel from heavy fuel oil is a viable solution to reduce the refinery’s inventory of heavy fuel oil and create new revenue streams, says Sinopec.
According to the notice, the first meeting of creditors will be held on Tuesday, 12 January 2021 at 10am (SG time) via video conferencing pursuant to Covid-19 measures.
Oil major’s net profit recorded net profit of USD 3.23 billion during 1H 2019, a 29.2% increase from 1H 2018.
‘Quality and Integrity remain our key pillars and we aim to keep improving and widening our services and reach for our esteemed clients,’ said statement.
Total bunker sales at Panama was 393,316 metric tonnes (mt) in May, compared to sales of 414,618 mt during the similar period in 2019.
Digitalisation makes it easier for shipowners to conform to growing external regulations such as new sulphur regulations and ‘no scrubber’ zones; operators can identify better bunkering options to reduce costs.
‘We’ll start the application [to MPA] before the end of 2022 and hopefully to receive approval within six months or sooner,’ L. Y. Hwang, Director / General Manager of Oval Asia Pacific Pte Ltd, tells Manifold Times.
Rob Ashton, Market Manager of Infineum, explains how Infineum B402 is a relatively easy way for a ship operator to positively influence a vessel’s CII rating while improving its bunker fuel consumption performance.
Eventual adoption of Digital Bunker Document Standard speeds up interoperability between stakeholders from both public and private sectors, learns Singapore bunkering publication Manifold Times.
ISO delegates represented seven countries and were in Singapore to attend a three-day meeting of ISO WG13 to develop two new ISO bunkering standards, learns Singapore bunkering publication Manifold Times.
Cai Zhi Zhong received a total of about USD 1.3m to USD 1.6m, of which he saved a portion and spent the rest, including on property, cars and watches, according to court documents obtained by Manifold Times.
