Business

ENGINE: East of Suez Bunker Fuel Availability Outlook

Tight VLSFO pushes Singapore Hi5 spread to new all-time highs; Zhoushan’s VLSFO price drops to bigger discounts to other hubs; availability remains normal in Hong Kong.

Published

4 years ago

July 20, 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:

19 July 2022

Tight VLSFO pushes Singapore Hi5 spread to new all-time highs
Zhoushan’s VLSFO price drops to bigger discounts to other hubs
Availability remains normal in Hong Kong

Singapore

VLSFO supply continues to be tight in Singapore. Demand for prompt stems have increased in recent weeks, resulting in high price premiums for prompt delivery dates, a trader says.

The market is likely to remain tight throughout this month, and no relief expected anytime soon, sources say.

The port’s Hi5 spread touched new all-time highs of $577/mt on Monday amid tight VLSFO supply.

Recommended lead times are around 13-15 days for VLSFO and 9-13 days for HSFO, while LSMGO lead times have gone up to 9-12 days.

East Asia

Zhoushan has been pricing VLSFO lower against other hubs, with its benchmark widening to a $63/mt discount to Singapore, and $57/mt to Fujairah on Tuesday.

Some suppliers in Zhoushan can accommodate prompt stem sizes less than 700 mt, while larger stems typically require seven days of lead time, sources say. LSMGO is more readily available.

VLSFO supply remains tight in Shanghai as a supplier is running low on stocks, sources say.

Availability is normal across all grades in Hong Kong. Recommended lead times for VLSFO and LSMGO are around 3-5 days. Some suppliers can offer LSMGO for prompt dates.

Bunker demand in the Philippines’ Manila has been sluggish in recent months amid higher prices, sources say. Recommended lead times for VLSFO and LSMGO are around 3-5 days.

South Asia

Availability of VLSFO and LSMGO is normal in India’s Mumbai. The grades are available with some suppliers for prompt dates, sources say.

Meanwhile, availability remains tight in Mundra on India’s northwest coast. Recommended lead times for VLSFO are around 9-10 days. LSMGO remains out of stock.

In Sri Lanka’s Colombo, prompt VLSFO and LSMGO are slightly tight. Recommended lead times are around 5-7 days.

Middle East

All fuel grades are in tight availability for prompt dates in Fujairah. VLSFO supply is tight as production at a local refinery has yet to return to normal after it underwent maintenance in recent weeks. Production is likely to improve from next month, a trader says.

Recommended lead times are around 9-10 days for VLSFO in Fujairah, and 6-7 days for HSFO, while LSMGO lead times are shorter at 4-5 days.

Suppliers in the Omani ports of Duqm and Sohar have normal availability of LSMGO. A supplier can offer prompt deliveries, a source says.

Photo credit and source: ENGINE
Published: 20 July, 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

22 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

22 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

22 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