Business

ENGINE: East of Suez Bunker Fuel Availability Outlook

VLSFO and HSFO availability improves in Singapore; LSMGO readily available across Sri Lankan ports; good demand in Fujairah.

Published

3 years ago

March 2, 2023

Admin

ENGINE East of Suez Bunker Fuel Availability Outlook

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:

28 February, 2023

VLSFO and HSFO availability improves in Singapore
LSMGO readily available across Sri Lankan ports
Good demand in Fujairah

Singapore

Demand for bunkers has been average in Singapore so far this week. Prompt availability of VLSFO and HSFO grades remains tight, but lead times have improved slightly – from 7-9 days for both grades last week, to 5-7 days for VLSFO and 6-8 days for HSFO now.

LSMGO is still readily available in the port. Recommended lead times for the grade remain unchanged from the previous week’s 2-4 days.

Singapore’s residual fuel oil stocks have averaged 5% higher so far this month than in January and risen above their five-year average for the year, according to Enterprise Singapore. Stock levels have been helped by a 7% increase in net imports.

Meanwhile, the port’s middle distillate stocks have averaged 9% lower this month and continue to be far below their five-year average position.

East Asia

Availability of VLSFO in Zhoushan is tight for prompt dates as some suppliers are running low on stocks, but muted demand has kept a check on tightness, a source says. One supplier is expecting a VLSFO replenishment cargo to arrive in early March, which is likely to alleviate the tightness.

VLSFO and LSMGO stems require 3-5 days of lead time in the port – unchanged from the previous week. Availability has improved for HSFO in the Chinese bunkering hub, with lead times shortening from 5-7 days to 4-6 days over the past week.

Hong Kong has been witnessing weak demand so far this week, while availability across grades remain normal, a source says. Lead times for VLSFO and LSMGO are 5-6 days, up from around four days last week. Around 5-6 days ahead is advised for HSFO, which was subject to enquiry last week.

Strong wind gusts of 19-22 knots and waves of over a metre are forecast to hit Hong Kong between 2-3 March, which may disrupt bunkering operations.

A source says bad weather is forecast in the South Korean ports of Ulsan, Onsan, Daesan, Taean and Yeosu between 1-5 March, which might hit bunkering.

Lead times across all grades in southern and western South Korean ports vary widely, with the shortest at three days and the longest at around 12. This is almost same as last week’s 3-11 days for southern South Korean ports, but much longer than the 3-4 days needed previously in the country’s western ports.

Strong wind gusts of 19-26 knots and swells of close to a metre are forecast to hit the Philippine port of Subic Bay from Tuesday until Friday, which might hamper bunkering operations.

South Asia

Availability of VLSFO and LSMGO remains good with lead times of 2-3 days across several Indian ports, including Mumbai and Kandla on the northwest coast, Cochin and Chennai on the southern coast, and Visakhapatnam on the southwestern coast.

Availability of grades are subject to enquiry in Tuticorin in the southeast coast and Haldia on the eastern coast of India.

However, the Indian ports of Kandla and Sikka are struggling with congestion and backlogs, which is only expected to ease by 3 March, a source says.

The Sri Lankan ports of Colombo and Trincomalee have good availability of LSMGO, with prompt dates available.

Middle East

Availability continues to be under pressure across grades in Fujairah, while demand has been good. Lead times of around nine days are recommended for VLSFO and LSMGO in the UAE port, and almost 12 days are needed for HSFO. But some suppliers can offer the grades for prompt dates, a source says. Lead times for all these grades have increased from last week’s seven days.

The Omani ports of Muscat, Salalah, Sohar and Duqm have LSMGO readily available.

By Tuhin Roy

Photo credit and source: ENGINE
Published: 2 March, 2023

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

14 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

14 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

14 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