Business

ENGINE: Americas Bunker Fuel Availability Outlook

LSMGO limited on East Coast amid dwindling stocks; US fuel oil stocks steady from April; prompt availability tight in Panama and Argentina.

Published

4 years ago

May 13, 2022

Admin

Resized Americas Bunker Fuel Availability Outlook image for Manifold Times

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

12 May, 2022

LSMGO limited on East Coast amid dwindling stocks
US fuel oil stocks steady from April
Prompt availability tight in Panama and Argentina

LSMGO is particularly tight in New York and other East Coast ports amid dwindling stock levels and relentless pressure on the middle distillate pool. East Coast distillate inventories have slumped to 14-year lows, according to official EIA data. New York’s LSMGO price has shot up to premiums of around $300-400/mt over Houston, Los Angeles and Balboa.

US sanctions on Russian oil, and European self-sanctioning in the absence of any EU-wide ban, has contributed to tighten trans-Atlantic supply of middle distillates, which include diesel, jet fuel, heating oil and gasoil. High domestic US demand has added additional pressure.

US fuel oil inventories grew gradually from a December low to April, and have held steady into May, EIA figures show. April’s stock build was supported by an import influx, allowing for more to be supplied out to bulk terminals, blenders, power plants and for further refining.

Gulf Coast stocks have come down by 4% in so far May compared to April’s average, despite a near three-quarter rise in production levels. East Coast stocks are up by a marginal 1% amid a third higher production. West Coast stocks have grown by 17% with support from a quarter more production.

HSFO is tight for prompt dates across key Americas ports, including Houston, New York, Los Angeles and Long Beach, and in Panama. A supplier in Balboa can deliver in six days.

All grades have been in tight availability for prompt dates in Panama. Two suppliers’ earliest delivery dates in Balboa are 6-9 days out. Another supplier has limited VLSFO and LSMGO availability for dates a week out in Colon.

A supplier in Jamaica’s Kingston has had tight availability of VLSFO and LSMGO in this week, while two others can deliver prompt.

Prompt supply is tight with certain suppliers in Zona Comun, one with its earliest delivery date around eight days out. Two others can supply in 5-7 days. The Argentinian anchorage location is forecast with strong winds from Sunday to Tuesday next week, which could disrupt bunker deliveries.

There is still no VLSFO or LSMGO available in nearby Montevideo, but truck or barge supply of LSMGO could come back on offer later this month, a source says.

Photo credit and source: ENGINE
Published: 13 May, 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

7 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

7 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

7 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