Business

ENGINE: East of Suez Bunker Fuel Availability Outlook

Longer lead times for VLSFO are recommended in Singapore this week, and a severe tropical storm could disrupt Zhoushan’s bunker supply, according to update.

Published

5 years ago

July 21, 2021

Admin

The following article regarding regional bunker fuel availability outlooks for East of Suez ports with special attention to availability in Singapore has been provided by online marine fuels procurement platform ENGINE for publication on Singapore bunkering publication Manifold Times:

21 July, 2021

Longer lead times for VLSFO are recommended in Singapore this week, and a severe tropical storm could disrupt Zhoushan’s bunker supply.

Singapore’s residual fuel oil stocks have edged up last week despite a drop in net imports, Enterprise Singapore data showed. But since peaking at over 25 million bbls in May, Singapore’s fuel oil inventories have been drawn down. The port’s stocks have averaged 22.95 million bbls so far in July – their lowest monthly average since March. Bunker fuel oils remain tight for prompt delivery dates in Singapore, with lead times for VLSFO stems up from seven days last week to nine days now.

Similarly, LSMGO supply has tightened slightly, requiring 5-6 days ahead this week. HSFO380 stems still need 10 days of lead time. Last week’s Singapore’s VLSFO premium over Zhoushan has now flipped to a $1-2/mt discount. The two ports have been pricing the grade at competitive levels to one another in recent days.

Zhoushan continues to be well supplied with all three fuel grades. Supply has improved in northern Chinese ports after supply shortages in recent weeks. Zhoushan could be struck by tropical cyclone In-Fa later this week, which has now been upgraded to a “severe tropical storm”.

Bunker supply and operations are expected to be disrupted, unless In-Fa changes track. The cyclone is expected to hit Taiwan’s east coast on Thursday and Friday. At the same time, bunker loading schedules in Hong Kong were disrupted by a different tropical cyclone that made landfall in the city state on Tuesday.

Hong Kong’s state weather forecaster Hong Kong Observatory issued a Signal 1 warning on Sunday night as tropical storm Cempaka moved in on the city. The storm warning was then upgraded to a Signal 3 warning on Tuesday, and bunker fuel loadings from Hong Kong’s oil terminals were suspended as the storm pummeled the port with wind gusts of up to 70 km/h and rainfall of more than 70 mm.

Loadings resumed later on Tuesday and all warnings were cancelled as the storm pushed away from Hong Kong. Bunker demand has increased in Hong Kong after bunker-only calls became possible again in the port last month, when local authorities lifted quarantine restrictions for ship crew that have been in place for the past 11 months.

Lead times are steady at 3-4 days in southern South Korean ports for VLSFO stems on the week, down by one day since last month. Fujairah’s lead times are also steady this week, with low sulphur fuel stems requiring 3-4 days ahead. Longer lead times may be required for HSFO380 stems in the port to ensure enough availability of the product.

Photo credit: ENGINE
Published: 21 July, 2021

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

15 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

15 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

15 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