Business

ENGINE: East of Suez Bunker Fuel Availability Outlook

Bunkering ramps up after Lunar New Year holiday; regional fuel availability still tight; Singapore demand slows amid rallying prices.

Published

4 years ago

February 9, 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:

Bunkering ramps up after Lunar New Year holiday
Regional fuel availability still tight
Singapore demand slows amid rallying prices

Bunker supply resumed fully in Zhoushan, Hong Kong and South Korea in the past week after muted activity during the Lunar New Year holiday.

VLSFO and HSFO380 availability remains tight in Zhoushan. One supplier has run out of HSFO380, says a source. Some suppliers are charging a barging premium for LSMGO stems of less than 100 mt in the Chinese port, says a source.

In Hong Kong, VLSFO supplies are expected to remain tight through the week, after coming under pressure from stronger demand leading up to the Chinese Lunar New Year holiday.

Bunker fuel deliveries resumed in South Korean ports on 3 February, after the Korean New Year holiday. VLSFO and LSMGO lead times in South Korea’s southern and western ports are up to 11-13 days, while HSFO380 is more readily available at nine days out.

In Japan’s Tokyo Bay area, suggested lead times across fuel grades have improved to 6-7 days out, says a source. Bunker fuel availability remains tight in the country’s western port areas of Kyushu, Setouchi and Osaka Bay, with suggested lead times of up to two weeks out.

Prompt VLSFO availability in Singapore remains tight with low availability of blends combining with Brent’s recent rally to push up the price of finished product. Demand has slowed with the price increase, says a source.

Singapore witnessed an 82% drop in net fuel oil imports in the week to 2 February, contributing to a stock draw. Its fuel oil stocks were down 3% on the week to 23.09 million bbls, Enterprise Singapore data showed.

The port’s middle distillate stocks fell by 3% in the most recent week, to 8.21 million bbls.

Suggested VLSFO and HSFO380 lead times are roughly similar on the week, to 10-11 days out. LSMGO lead times are relatively shorter at around seven days out.

In Fujairah, availability across fuel grades remains tight owing to a slowdown in oil production, resulting from a delay in arrival of fuel oil blends, says a source. Lead times for VLSFO and LSGMO are slightly up this week to nine days out, and HSFO380 lead times are up to 11 days.

Fujairah’s heavy distillates and fuel oil inventories jumped 16% to a nine-week high of 11.38 million bbls on 2 February, according to Fujairah Oil Industry Zone and S&P Global Platts data.

Photo credit: ENGINE
Published: 9 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

17 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

17 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

17 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