Business

ENGINE: Americas Bunker Fuel Availability Outlook

Bunker fuel supply continues to be tight across North America; US fuel oil production lowest since October 2020; Supply remains tight in Panama.

Published

4 years ago

February 21, 2022

Admin

Resized Americas Bunker Fuel Availability Outlook image for Manifold Times

The following article regarding regional bunker fuel availability outlook for the Americas has been provided by online marine fuels procurement platform ENGINE for publication on Singapore bunkering publication Manifold Times:

17 February, 2022

Bunker fuel oil supply continues to be tight across North America
US fuel oil production hit lowest levels since October 2020
Supply remains tight in Panama

Prompt bunker fuel oil supply continues to be tight across North America and has also tightened considerably in various Caribbean and South American countries.

Bunker locations around Houston and off the US Gulf Coast, New York, Los Angeles, Vancouver and Panama all have tight availability, while suppliers in Jamaica’s Kingston and Argentina’s Buenos Aires and Zona Comun are all but sold out of VLSFO and LSMGO for the rest of the month.

Inventories of US residual fuel oil fell below 26 million bbls again after significant draws in the Gulf Coast and West Coast regions in the week to 11 February, according to the EIA.

Domestic fuel oil production levels dropped to their lowest levels since October 2020. The country’s total refinery utilisation has been declining from near 90% through most of December, to 85.3% in the latest week.

Imports rose to two-month highs in the week, and US importer have taken 70% more fuel oil so far in February than in January. But even this boost in imports has not made up for the production shortfall.

Fuel oil volumes supplied out of storage to blenders, bulk terminals, refineries and power plants rose sharply on the week.

Demand has been particularly high from power plants and from the bunker market recently. Bunker suppliers in several key bunker ports have been tight for product and looking for replenishment.

Supply remains tight in Panama. Certain suppliers require about a week of lead time for VLSFO, others more.

Jamaica’s Kingston has also seen VLSFO and LSMGO supply tightening. Suppliers are unable to commit to deliveries of the grades until the end of the month at the earliest, one citing high congestion.

The port relies of product produced at the local Petrojam refinery and occasional cargo imports. According to cargo tracking, Kingston last received a low sulphur fuel oil cargo in late January.

There is next to no availability of VLSFO and LSMGO at Argentina’s Zona Comun anchorage for the rest of the month. Most suppliers quote early March as their earliest delivery date, one attributing the supply squeeze to an unspecified local refinery turnaround.

Several low sulphur fuel oil cargos are due to arrive in the Buenos Aires area in the first two weeks of March and should help ease the supply squeeze then.

Zona Comun’s VLSFO price has surged to much wider premiums over Brazilian ports this week.

Photo credit: ENGINE
Published: 21 February, 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

6 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

6 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

6 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