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Bomin to honour Singapore bunker contracts upon exit, says MD

24 Sep 2018

Bomin Bunker Oil Pte Ltd., the Singapore arm of marine fuels trading and supply firm Bomin Group, intends to follow through earlier contractual obligations upon its gradual wind down of operations at Singapore, says its Managing Director.

The company on Friday (21 September) announced that it will exit the bunker markets in Singapore and Antwerp, confirming earlier industry rumours first reported by Singapore-based independent bunker publication Manifold Times.

“We would like to share with you that Bomin Bunker Oil Pte Ltd. currently plans on scaling back its future business activities in Singapore, as such Bomin Bunker Oil Pte Ltd. will not be concluding any new back-to back trading activities starting from today’s date,” said Paul Bradshaw in a note to the bunkering industry.

“Not only does Bomin Bunker Oil Pte Ltd. belong to a large group of companies, it remains a reputable company committed to complying with all of its contractual obligations, which especially includes making all of its contractual payment obligations as well as fully performing and completing all of its contractual services.

“We look forward to continuing our commercial relationship and working together. Should you have any further questions, please do not hesitate to contact us anytime.”

Related: Official: Bomin exits Singapore and Antwerp bunker markets
RelatedBreaking: Bomin Singapore, Mabanaft fuel oil team allegedly exiting market
RelatedBomin closes Dubai office, appoints new MD
RelatedMabanaft: ‘Unsatisfactory’ 2017 bunker results
RelatedBomin sells off German bunker subsidiary

Published: 24 September, 2018

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