Business

ENGINE: East of Suez Bunker Fuel Availability Outlook

Singapore VLSFO supply looks tight into February; HSFO380 tight amid pending resupply in Zhoushan; Fujairah recovers after weather disruptions.

Published

4 years ago

January 26, 2022

Admin

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

25 January, 2022

Singapore VLSFO supply looks tight into February
HSFO380 tight amid pending resupply in Zhoushan
Fujairah recovers after weather disruptions

Prompt VLSFO availability remains tight in Singapore with suggested lead times of up to 8-10 days. VLSFO availability is expected to tighten with less cargo inflows and boost price premiums of ex-wharf over cargo VLSFO going into February, sources say.

Singapore witnessed a 60% drop in net imports in the week to 19 January. That led fuel oil suppliers to tap more into their storage tanks and drew combined stocks by 5% to 21.20 million bbls, Enterprise Singapore data showed.

The port’s middle distillate stocks surged 19% higher in the most recent week, to a two-month high of 8.53 million bbls.

At least 10 days of lead times is advised for HSFO380 stems in Singapore, while lead times for LSMGO remain relatively shorter than for fuel oil grades, at 5-7 days.

VLSFO availability in Zhoushan is normal with up to two days of lead times. LSMGO and HSFO380 availability has tightened owing to shortage of supplies. One HSFO380 supplier expects cargo replenishment by 5 February at the earliest.

In South Korea, VLSFO availability is tight in the southern ports of Busan, Ulsan and Yeosu with suggested lead times of 10-11 days. Just one supplier currently has HSFO380 in South Korea.

VLSFO availability is tight in Hong Kong owing to an alleged off-specification issue with a supplier’s cargo coming in from Singapore, says a source. Another supplier has limited stocks. Availability is expected to remain tight until the second week of February.

Some suppliers will continue to supply bunkers in Zhoushan and Hong Kong during the Lunar New Year from 31 January to 4 February, but holiday price premiums are expected.

In Fujairah, HSFO380 availability has tightened with up to 11 days of lead time required, while lead times for VLSFO and LSMGO have increased to 10 days each. VLSFO has been tight in the port owing to shortage of blends.

Fujairah experienced bad weather last Friday with strong winds touching 40 knots. While bunkering was not officially suspended, suppliers found it difficult to make deliveries due to the weather, sources said.

Fujairah’s heavy distillate and fuel oil inventories rose by 8.4% to a 9.95 million bbls on 17 January, according to Fujairah Oil Industry Zone and S&P Global Platts data.

Photo credit: ENGINE
Published: 26 January, 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

10 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

10 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

10 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