Business

China: CPCA Marine Fuel Industry Committee provides state-level industry update

Several developments were undertaken by CPCA-MFC to improve bonded bunkering business, states Deputy General Manager of domestic fuel oil trading at Chimbusco.

Published

7 years ago

July 10, 2019

Admin

Singapore bunker publication Manifold Times attended the China Petroleum Circulation Association Marine Fuel Industry Committee (CPCA-MFC) meeting recently held at Zhoushan, China in June:

The Marine Fuel Industry Committee of China Petroleum Circulation Association (CPCA), a state-owned organisation under the China Ministry of Commerce responsible for the development of oil policies and legislation in China, held a general meeting at Zhoushan during June.

Liu Liguo, Deputy Secretary General of CPCA, Secretary General of the Vessel Oil Specialty Committee at CPCA and Deputy General Manager of domestic fuel oil trading at China state-owned bunkering firm Chimbusco, briefed delegates on the marine fuel committee’s latest developments.

Among updates were mention of development stages regarding the ‘Regulations for the Management of Ship Oil Supply Industry’; ‘Code of Practice for Bonded Fuel Supply Business of International Navigation Ships’; ‘Classification Rating Method for Ship Oil Supply Enterprises’; and establishment of a domestic benchmark system for marine fuel prices.

Regulations for the Management of Ship Oil Supply Industry

In his briefing, Liu noted the Marine Fuel Industry Committee of CPCA embarking to prepare the ‘Regulations for the Management of Ship Oil Supply Industry’ since 2015 due to a request from the Marketing Operation Department of the Ministry of Commerce.

The request for creating the national regulation was an effort by the government to improve the existing state of affairs of the industry, while standardising the operation behaviour of ship oil supply enterprises, and ensuring the sustainable and healthy development of the market, he said.

Specifically, it states the requirements such as qualifications, licenses, personnel, and enterprise management to operate a bunkering company, while formulating a grading evaluation management method for such enterprises.

Additionally, it recommends the use of mass flowmeter (MFMs) to meet measurement and quality requirements for bunkering operations.

“The entire declaration and review process of the standard was completed in September 18, and is now waiting for the Ministry of Commerce to officially release it,” he noted.

Code of Practice for Bonded Fuel Supply Business of International Navigation Ships

Liu further informed delegates that the ‘Code of Practice for Bonded Fuel Supply Business of International Navigation Ships’, completed in June 2018 and supported by the Zhoushan Port Comprehensive Bonded Zone Management Committee, has been submitted to the China Business Federation for review and CPCA is currently awaiting feedback.

Classification Rating Method for Ship Oil Supply Enterprises

The ‘Classification Rating Method for Ship Oil Supply Enterprises’, a formula for grading participating enterprises, has been completed on 17 May. The tool, which grades bunkering firms into first-class, second-level and third-level enterprises, seeks to standardised operations and encourage quality service.

Domestic benchmark system for marine fuel prices

An earlier trial which started since 28 August 2015 with an unnamed company to establish the average weekly price of domestic fuel oil for ships has been discontinued.

To replace, a similar project with Shandong Grand Information Co., Ltd. has been started in April 2019 and the company is expected to start producing valuations from August 2019.

“We have to introduce the ‘internal trade marine fuel’ valuation as soon as possible to establish a market price discovery mechanism and provide fair price support for both sides of the ship fuel supply and demand,” said Liu.

“The formation of the average weekly price is conducive to everyone studying the historical trend of marine fuel prices, so that shipowners can rely on the purchase price to determine the purchase price, and at the same time reduce the domestic vicious price competition and squeeze out the space of inferior oil.”

Miscellaneous

During the brief, Liu also mentioned CPCA undertaking a study trip to Singapore during the end of October 2018 to fully understand the development of its marine fuel industry.

He was grateful to the International Bunker Industry Association (IBIA) and Singapore-based marine fuel measurement engineering solutions company Metcore International which hosted CPCA during their stay at Singapore.

The field trip helped member companies, “broaden their horizons, open their minds, and explore Southeast Asian markets and international markets”, he stated.

Photo credit: China Petroleum Circulation Association
Published: 10 July, 2019

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

22 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

22 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

22 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