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Argus Media: Singapore bunker premiums for 1Q tenders remain stable

Premiums for delivered VLSFO were at around $12-15/t to 0.5pc sulphur marine fuel cargo prices in November, before declining to $8-9/t in December, it said.
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Sammy Six of global energy and commodity price reporting agency Argus Media on Tuesday (29 December) published a summary on the bunker spread for VLSFO in Singapore following the recently concluded bunker term negotiations for 1Q 2020:

Negotiations for bunker term supplies for the first quarter of 2021 in Singapore have largely concluded.

Premiums for delivered very low-sulphur fuel oil (VLSFO) were at around $12-15/t to 0.5pc sulphur marine fuel cargo prices in November, before declining to $8-9/t in December in line with falling spot premiums, according to various market sources.

This is largely in line with premiums for the fourth quarter of this year at around $8-10/t, although this has varied widely.

An increasing number of market participants are now using the 0.5pc sulphur marine fuel cargo prices in Singapore as a benchmark, as compared with the 10ppm gasoil cargo price. “During this latest tender round, about half of the contracts were done [on the basis of] 0.5pc [sulphur marine fuel oil cargo prices] compared with only 25pc throughout most of 2020,” according to one buyer.

“[Prices based on] 0.5pc [sulphur marine fuel cargo values] are relatively more stable than 10ppm, but most of the cargo sellers with refineries, for instance oil majors, should still sell [on the] basis [of] 10ppm,” said one local trader.

Sentiment in Singapore has remained robust overall, although this depends largely on the market segment. “The container market is strong, speeds are up and fleet deployment is practically 100pc of available tonnage,” according to one buyer. “This is translating into strong bunker demand in the major hubs, where port stays are longest and supply is reliable,” he said.

Demand in Singapore was strong last week ahead of the Christmas holiday, with Argus reporting a total of 56,245t in spot deals during the first three days of the week compared with 45,615t over the same period the week before.

But most market participants are worried that this surge in demand will fade after the new year holidays this week and that the global demand outlook remains very uncertain because of the Covid-19 pandemic.

Bunker consumption in Singapore has been strong this year, with total sales over the first 11 months of 2020 reaching 45.54mn t, up by 2.55mn t from last year. Singapore, along with Zhoushan and other Chinese ports, has seen an increase in demand this year following Hong Kong’s stringent 14-day quarantine rules announced in July, which deterred cargo ships planning to bunker there.

Demand for high-sulphur fuel oil (HSFO) in Singapore has also been strong, with sales of over 1mn t in October-November, according to official data. The Hi-5 spread, or the premium of VLSFO to HSFO, was assessed yesterday at $89/t, a nine-month high. The spread may widen because of expected better availability of HSFO in the first quarter of next year and rising flat crude prices, but shipowners will likely not consider installing more scrubbers until the spread hits $150-200/t.


Source: Argus Media
Photo credit: Manifold Times
Published: 30 December, 2020

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Winding up

Singapore: Xihe Holdings subsidiaries to be wound up voluntarily, creditors to submit claims

Creditors of Da Zhong Tankers and Xin Ying Shipping are required on or before 17 July 2026 to send in their names and addresses and particulars of their debts or claims to appointed liquidators, says notice.
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Xihe Holdings Pte Ltd subsidiaries Da Zhong Tankers Pte Ltd and Xin Ying Shipping Pte Ltd will voluntarily wind up following resolutions that were passed by written means, according to a Government Gazette notice published on Thursday (18 June).

The resolutions set out below were duly passed:

  • SPECIAL RESOLUTION – WINDING-UP

That the Company be wound up voluntarily pursuant to section 160(1)(b) of the Insolvency, Restructuring and Dissolution Act 2018.

  • ORDINARY RESOLUTION – APPOINTMENT OF LIQUIDATORS

That Paresh Tribhovan Jotangia and Ho May Kee of Grant Thornton Singapore Private Limited, 8 Marina View, #40-04/05 Asia Square Tower 1, Singapore 018960 be and are hereby appointed as joint and several liquidators to conduct the said winding-up and that their remuneration be fixed on the usual scale of their professional charges for the work involved.

  • SPECIAL RESOLUTION – POWERS OF LIQUIDATORS

That the liquidators of the Company be authorised to exercise any of their powers given by section 177, 144 (1) and (2) of the Insolvency, Restructuring and Dissolution Act 2018 and to distribute to members, in specie, any part of the assets of the Company.

In another notice, the liquidator of the company said creditors are required on or before 17 July 2026 to send in their names and addresses with particulars of their solicitors (if any) to liquidator Paresh Tribhovan Jotangia at Grant Thornton Singapore Private Limited, 8 Marina View, #40-04/05 Asia Square Tower 1, Singapore 018960. 

The liquidator may require creditors or their solicitors to “come in and prove their said debts or claims at such time and place as shall be specified in such notice or in default thereof, they will be excluded from the benefit of any distribution made before such debts are proved.”

Related: Singapore: Additional Xihe Holdings subsidiaries to be placed under judicial management

 

Photo credit: steve pb from Pixabay
Published: 19 June, 2026

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Winding up

Singapore: Liquidator of Parakou Shipping issues notice of dividend

Second and final dividend to admitted creditors of Parakou Shipping is payable by 14 July, according to Government Gazette notice.

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June 19, 2026

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A notice of dividend for Parakou Shipping Pte Ltd, which is currently in voluntary liquidation, was published on the Government Gazette on Thursday (18 June). 

The following are the details of the notice:

Name of Company : Parakou Shipping Pte Ltd (In Creditors’ Voluntary Liquidation)
Address of Registered Office : c/o KordaMentha, 50 Raffles Place, 25-01 Singapore Land Tower, Singapore 048623
Amount per centum : 0.55 per centum of admitted claims (in accordance with the Order of Court HC/ORC 4175/2024)
First and Final or otherwise : Second and Final Dividend to admitted creditors (in accordance with the Order of Court HC/ORC 4175/2024)
When payable : By 14 July 2026
Where payable : c/o KordaMentha Pte Ltd, 50 Raffles Place, #25-01 Singapore Land Tower, Singapore 048623

Related: Singapore: Notice of intended dividend issued for Parakou Shipping Pte Ltd

 

Photo credit: Benjamin Child
Published: 19 June, 2026

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Alternative Fuels

MOL inks bio-LNG bunker fuel supply deals with Titan and Axpo for car carriers in Europe

Titan, part of Amsterdam-based Molgas, will continue to supply bio-LNG fuel in Northwest Europe, while Axpo will take charge of supply in the Mediterranean region.
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MOL inks bio-LNG bunker fuel supply deals with Titan and Axpo for car carriers in Europe

Mitsui OSK Lines (MOL) on Thursday (18 July) said it has signed new supply agreements in Northern Europe and the Mediterranean region to expand the use of bio-LNG marine fuel on MOL-operated LNG-fuelled car carriers.

Titan, part of Amsterdam-based Molgas, will continue to supply bio-LNG fuel in Northwest Europe, while Axpo will take charge of supply in the Mediterranean region.

MOL said the agreement makes it possible for its company to supply bio-LNG fuel for automobile carriers in the Mediterranean region, specifically Port of Malaga and Barcelona in Spain, following the bio-LNG fuel supply agreement in Western Europe, which commenced in March last year.

The bio-LNG fuel to be supplied in this initiative has a lifecycle carbon intensity (carbon dioxide emissions per unit of energy consumption) of -15 g-CO2/MJ or less, from production through consumption. Furthermore, this bio-LNG fuel has obtained International Sustainability and Carbon Certification (ISCC-EU). 

“Through this supply agreement, MOL has established a framework that ensures a continuous and stable supply of bio-LNG fuel not only in Northern Europe but also in the Mediterranean,” the company said.

As part of the group’s efforts to adopt alternative fuels and achieve net-zero greenhouse gas (GHG) emissions, it is utilising LNG-fuelled vessels as a bridge solution to facilitate the transition to carbon-neutral fuels such as bio-LNG and synthetic LNG (e-methane).

In 2025, MOL signed a bio LNG fuel supply agreement in Northwest Europe with Titan, part of the Molgas, and MOL has continued this bio LNG fuel supply agreement with the same company in 2026 as well.

 

Photo credit: Mitsui OSK Lines
Published: 19 June, 2026

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