Business

Bunker Holding appoints Mikkel Kannegaard as new Head of Global Supply

Kannegaard will lead the new cross-functional supply organisation within Bunker Holding Group, comprising Physical Operations, Procurement, and the Green Centre of Excellence.

Published

1 year ago

June 27, 2025

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Bunker Holding appoints Mikkel Kannegaard as new Head of Global Supply

Danish Bunker Holding Group on Thursday (26 June) said it has appointed Mikkel Kannegaard, who will take on the newly established role of Head of Global Supply, effective 1 August, to lead its new Global Supply Organisation.

Kannegaard most recently held the position of Global Head of Growth at DHL and brings experience in development and execution from previous leadership and executive roles in the maritime industry – including at Maersk and Monjasa.

As Head of Global Supply, Kannegaard will lead the new cross-functional supply organisation within Bunker Holding Group, comprising Physical Operations, Procurement, and the Green Centre of Excellence.

“Mikkel Kannegaard is a perfect match for the profile, bringing extensive hands-on experience and a strong drive to move Bunker Holding forward. With his deep industry insight gained from senior roles in major international companies, he will be a valuable player to our team, and we are very much looking forward to welcoming him.” said Peder Møller, COO of Bunker Holding.

The establishment of the new Global Supply Organisation is intended to strengthen the Danish bunker company’s physical presence in the market and ensure a more cohesive integration between sourcing, operations, and trading. The goal is to deliver even stronger customer solutions and sharpen the company’s global competitiveness.

“This is not just a structural change – it is a shift in mindset. With our new supply organization, we are bringing together the best of our global expertise and local agility to serve our customers smarter, faster, and greener,” said Peder Møller.

For Bunker Holding Group, the rationale behind this organisational strengthening is clear: the company must be prepared for rapidly changing market demands and the accelerating green transition.

“The new organisation is therefore built around three key principles: agility, operational efficiency, and customer focus,” the company added.

“By uniting supply expertise under one roof, Bunker Holding Group is creating a structure that can better address today’s complexities while adapting to a dynamic and evolving energy landscape.”

Photo credit: Bunker Holding
Published: 27 June, 2025

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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.

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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.

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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

17 hours ago

July 21, 2026

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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.

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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