Business

Argus Media viewpoint: Biofuel bunkering in Singapore set to build

Market participants expect biofuel bunkering will transition from mainly being used in trials and pilot studies to actual market pick-up and maturation in 2023, says Sammy Six.

Published

4 years ago

December 21, 2022

Admin

It has been all about biofuel bunkering in the world’s largest bunkering hub of Singapore in 2022, with the fuel’s rapid uptake widely expected to continue in 2023.

20 December 2022

Back in October senior minister of state for transport Chee Hong Tat said at the Singapore International Bunkering Conference and Exhibition (Sibcon) that the city-state has supplied about 70,000t of biofuels to ocean-going vessels across more than 40 biofuel bunkering operations so far in 2022.

To put this in perspective, biofuel bunkering sales had already outpaced total LNG bunker consumption of 50,000t in 2021, the most mature alternative bunker fuel of choice.

In Singapore, a maximum of 24pc of biofuels is allowed in a bunker blend, which is also called B24. The remaining 76pc is made up of very-low sulphur fuel oil. It remains to be seen whether this share in the blend can and will increase, as is already the case in Europe and North America.

Vitol and Chevron are the two leading suppliers of B24 at the port of Singapore, with Vitol alone accounting for about half of the quantities sold.

Large international shipping companies such as NYK, Oldendorff, CMA CGM, K-Line and Cosco, among others, started trialling B24 onboard their vessels for ocean-going journeys in 2022 without any complications.

Biofuels are a popular choice for shippers looking to decarbonise their fleet in order to meet the International Maritime Organization’s goal to reduce greenhouse gas emissions from shipping.

This is because biofuel blends are a plug-and-play solution that is widely available and do not need engine modifications.

Singapore’s Maritime and Port Authority in October 2022 developed a provisional national quality standard for marine biofuels, as well as a framework laying down conditions for biofuel supply for licensed bunker fuel suppliers, to boost the pick-up of biofuels bunkering.

A supporting regulatory framework like this will further stimulate marine biofuel consumption in Singapore, as the industry awaits a global ISO standard.

Multi-fuel future

Market participants expect that biofuel bunkering will transition from mainly being used in trials and pilot studies to actual market pick-up and maturation in 2023.

Already some B24 spot trading is taking place, although most of the volumes sold are under long-term contracts as reported to Argus.

Other low- or zero-carbon bunker fuels such as ammonia, methanol and hydrogen are all potential candidates in a multi-fuel future as well. All of these have, similar to biofuels, positive and negative characteristics relative to conventional marine fuels.

The biofuels used in a B24 blend are currently used cooking oil methyl ester (Ucome), but there are questions regarding the sustainability of future biofuel supplies. Hence, it is possible that the growth in biofuels will be capped by the emergence of competition from other fuels. Already, shipping companies and fuel suppliers are working together to incept supply chains for green ammonia and methanol bunkering, as well as hydrogen, in key hubs such as Singapore and South Korea.

For now it looks like biofuels in Singapore are destined to capture an increasing share of the bunkering fuel mix at least in the short to medium term, with 2023 poised to be a critical year for B24.

By Sammy Six

Photo credit and source: Argus Media
Published: 21 December, 2022

Legal

Singapore withdraws remaining 127 charges against Hin Leong founder OK Lim

Lim Oon Kuin, also known as OK Lim, was issued a stern warning and a district court granted him a discharge amounting to an acquittal for these charges on 17 July.

Published

14 hours ago

July 21, 2026

Admin

Founder of collapsed oil trader Hin Leong Trading, Lim Oon Kuin, also known as OK Lim, has had the remaining 127 charges against him withdrawn, according to The Straits Times on Monday (20 July).

OK Lim was issued a stern warning and a district court granted him a discharge amounting to an acquittal for these charges, including those for cheating, on 17 July. The discharge means Lim cannot be prosecuted again for the same offences.

Lim, 84, is currently serving a 13½-year prison sentence after the High Court reduced his original 17½-year jail term in March 2026. He was convicted in 2024 on two cheating charges and one count of abetting forgery in a case prosecutors described as one of Singapore’s most serious trade finance frauds.

Lim was convicted in May 2024 of two charges of cheating the Hongkong and Shanghai Banking Corporation (HSBC) and one count of abetting forgery that proceeded to trial out of a total of 130 criminal charges.

He was first charged in court on 14 August 2020, and was subsequently handed further charges in court on 25 September 2020, 30 April 2021 and 24 June 2021 for his role in perpetuating fraud on various financial institutions.

A total of 130 charges were eventually brought against him for cheating and forgery-related offences.

Photo credit: Sora Shimazaki
Published: 21 July, 2026

Winding up

Singapore: Coastal Logistics Pte Ltd to be wound up voluntarily

Coastal Logistics was reportedly affiliated with troubled Singapore bunker player Coastal Oil (Singapore) Pte Ltd.

Published

15 hours ago

July 21, 2026

Admin

Several resolutions for Coastal Logistics Pte Ltd were made during an extraordinary general meeting held on 14 July, according to a notice in the Government Gazette on Friday (4 July).

The following resolutions were duly passed during the meeting:

As Special Resolution

That it has been proved to the satisfaction of the meeting that the Company cannot by reason of its liabilities continue its business and accordingly the Company be wound up voluntarily pursuant to Section 160(1)(b) of the Insolvency, Restructuring and Dissolution Act 2018 (No. 40 of 2018);

As Ordinary Resolutions

that Mr. Wong Pheng Cheong Martin and Ms. Koay May Yee, both care of FTI Consulting (Singapore) Pte Ltd, One Raffles Quay, #27-10 South Tower, Singapore 048583 be appointed as the joint and several Liquidators of the Company for the purpose of such winding up; and
that the Liquidators be at liberty to open, maintain and operate any bank account(s) or account(s) for monies received by them as Liquidators with such bank(s) as they deem fit; and
that a Committee of Inspection will not be formed.

Manifold Times previously reported Nicholas James Gronow, director of Heng Tong Fuels & Shipping and Coastal Logistics, filed statutory declarations for both companies stating the firms cannot continue their businesses due to liabilities.

Both companies were reportedly affiliated with troubled Singapore bunker player Coastal Oil (Singapore) Pte Ltd.

In 2019, several vessels owned by both firms entered the sale & purchase (S&P) market in Singapore.

Photo credit: Drew Beamer
Published: 21 July, 2026

LNG Bunkering

PIL’s LNG dual-fuel boxship “Kota Elok” arrives in Singapore on maiden call

As the first of 13 new 13,000 TEU vessels joining its fleet, Kota Elok is equipped to operate on LNG and low-sulphur fuel oil that helps reduce our greenhouse gas emissions.

Published

15 hours ago

July 21, 2026

Admin

PIL's LNG dual-fuel boxship “Kota Elok” arrives in Singapore on maiden call

Singapore-based Pacific International Lines Pte Ltd on Monday (20 July) said its first 13,000 TEU LNG dual-fuel container vessel, Kota Elok, recently made her maiden call to Singapore on 15 July.

As the first of 13 new 13,000 TEU vessels joining its fleet, Kota Elok is equipped to operate on liquefied natural gas (LNG) and low-sulphur fuel oil that helps reduce our greenhouse gas emissions.

The vessel also incorporated energy-saving features and digital technologies to reduce fuel consumption and enhance operational performance, as well as a bow windshield to improve aerodynamics, contributing to improved fuel efficiency and lower emissions over the course of long-haul voyages.

“Following Singapore, Kota Elok will continue her voyage on our East Coast Service 1 (ES1) route to South America, calling at ports in Brazil, Uruguay, and Argentina before returning to Asia,” the company said in a social media post.

Kota Elok also became PIL’s first vessel to receive Lloyd’s Register certification for compliance with the IACS UR E26 and UR E27 cyber security requirements.

Developed by the International Association of Classification Societies (IACS), UR E26 and UR E27 are mandatory cyber resilience requirements for newbuild vessels contracted from 1 July 2024.

Photo credit: Pacific International Lines
Published: 21 July, 2026