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ENGINE: East of Suez Bunker Fuel Availability Outlook

Availability normal across grades in Singapore; west coast ports of India brace for cyclone Biparjoy; weak demand in Fujairah.




LATEST ENGINE East of Suez Bunker

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:

13 June 2023

  • Availability normal across grades in Singapore
  • West coast ports of India brace for cyclone Biparjoy
  • Weak demand in Fujairah



A source says that demand has been “quiet” in Singapore so far this week. VLSFO and HSFO availability has improved in the port, with lead times coming down sharply from last week's nearly two weeks to 7-10 days now.

LSMGO availability remains steady, with unchanged lead times of 2-4 days.

Residual fuel oil stocks have averaged 3% higher so far in June than in May, according to Enterprise Singapore. Singapore's net fuel oil imports have declined 12% so far this month. Both fuel oil imports and exports have declined by 12-13% this month.

Singapore’s middle distillate stocks have also averaged 10% higher so far this month than in May.


East Asia

Bunker demand remains weak in Zhoushan as it has been in recent weeks, a source says. VLSFO availability has improved in the Chinese bunkering hub, with lead times of 3-5 days – down from 5-7 days last week. Recommended lead times of VLSFO and HSFO are 3-5 days – virtually unchanged from last week.

However, bunker deliveries remain suspended at Zhoushan’s Tiaozhoumen and Xiazhimen anchorages since Monday due to bad weather, a source says. Meanwhile, bunkering was running smoothly at Zhoushan's slightly more sheltered Xiushandong anchorage and at the port's inner anchorage of Mazhi on Tuesday.

Bunkering is likely to fully resume from Wednesday morning, when calmer weather is forecast.

VLSFO and HSFO availability has improved in Hong Kong, with lead times coming down from 7-10 days last week to around seven days now. Lead times for LSMGO, on the other hand, have increased from 3-5 days last week to seven days now.

Prompt VLSFO availability remains tight in southern South Korean ports as most suppliers are running low on stocks. A lead time of 7-9 days is recommended in southern ports. Meanwhile, availability remains good for the grade in western South Korean ports, with lead times of 3-4 days – almost unchanged from last week.

A source says that HSFO is more readily available in South Korean ports, with a shorter lead time of 3-4 days. LSMGO is also readily available in the country.

Rough weather conditions are forecast in South Korean ports of Yeosu and Busan between 16-18 June, which could disrupt bunker deliveries.

The Thai ports of Koh Sichang and Leam Chabang are forecast to experience adverse weather conditions between 18-20 June, the Kiwi port of Tauranga between 19-20 June, and the Vietnamese port of Ho Chi Minh between 19-20 June, which might hamper bunker operations.


South Asia

VLSFO and LSMGO grades can be delivered with around 2-3 days of lead time in India's southern ports of Cochin and Chennai.

Availability of both grades remains relatively tight in the Indian ports of Mumbai, Visakhapatnam and Paradip and delivery dates are subject to availability, a source says. On the other hand, supply in Tuticorin port on the southeast coast and Haldia on the east coast remains subject to enquiry.

All port operations on the Indian west coast ports including Kandla, Okha, Bedi, Navlakhi, Vadinar, Sikka, Mundra and Jakhau have been suspended as cyclone Biparjoy approaches.

Rough weather conditions are forecast in Visakhapatnam between 14-15 June, which may disrupt bunker operations.

The Sri Lankan ports of Colombo, Trincomalee and Hambantota have good availability of VLSFO and LSMGO. However, deliveries in Colombo and Hambantota are “slow because of bad weather,” while prompt dates supply is available in Trincomalee, a source says.


Middle East

A slowdown in demand has boosted the availability of all grades in Fujairah, a source says. Lead times of VLSFO and LSMGO are around three days now – down from 5-7 days last week. HSFO availability is also good, with a slightly longer lead time of around five days advised.

The Omani ports of Duqm, Sohar, Salalah and Muscat have good availability of LSMGO, with prompt supply available.

By Tuhin Roy


Photo credit and source: ENGINE
Published: 14 June, 2023

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Singapore: PS Energy Group unveils new brand identity and moves to a new office

The group including its inland and marine bunkering units PS Energy Pte Ltd and CNC Petroleum Pte Ltd has underwent rebranding and moved to JTC Summit.





Singapore: PS Energy Group unveils new brand identity and moves to a new office

Last mile fuel distribution company PS Energy Group, including its inland and coastal and marine bunkering units, PS Energy Pte Ltd and CNC Petroleum Pte Ltd, has introduced a fresh brand identity learns Manifold Times.

The firm has unveiled its new company logos and branding that reflects its remarkable transformation as a company.

“Over the past few months, we have been working hard to create a new visual identity that truly captures the essence of who we are as a company which we hope will resonate, inspire trust, and build meaningful connections with our customers,” Sean Chua, Managing Director told Singapore-based bunkering publication Manifold Times

“Our new logo embodies the core values and aspirations that have guided us throughout our journey, while incorporating elements that represent our vision and direction for the future. With its circular shape, the new logo depicts an entity in motion and embodies PS Energy Group’s agility, focus on innovation, and accessibility.”

The firm’s updated branding encompasses a comprehensive visual identity system that is now being integrated across all its assets and communication channels, including its inland and marine fleet, website, and social media platforms. 

Singapore: PS Energy Group unveils new brand identity and moves to a new office

Besides the new brand identity, the Group has recently moved to a new and improved office space at the JTC Summit in Singapore. The firm said its team spent considerable time and effort in searching for the perfect location that aligned with its vision and values of providing the best service possible to its clients.

Singapore: PS Energy Group unveils new brand identity and moves to a new office

“The move represents a significant milestone in our company's journey and marks a new chapter of growth and opportunity. Our new office brings a host of exciting features and amenities that will undoubtedly elevate the overall experience for everyone involved,” according to Sean. 

“From spacious workstations and ergonomic furniture to cutting-edge technology and collaborative spaces, we have designed the new office with both functionality and comfort in mind. We believe that this new workspace will foster even greater creativity, productivity, and collaboration among our team members, enabling us to deliver exceptional results and exceed the expectations of our clients.”

PS Energy Group’s new address is as follows:

8 Jurong Town Hall Road
#24-01 The JTC Summit
Singapore 609434

Related: Interview: PS Energy Group gears up for 2023 with sustainable bunker fuel products and digital transformation
Related: CNC Petroleum provides alternative bunker fuel to coastal and marine market with MGO B20
Related: Singapore: PS Energy Group acquires ISCC cert for biodiesel products

Photo credit: PS Energy Group
Published: 4 October, 2023

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Malaysia: Straits Energy proposes to list oil bunkering and shipping segment on Nasdaq

In a filing with Bursa Malaysia, the firm announced its intention to spin-off its oil bunkering and shipping related services segment for listing on NASDAQ stock exchange via a public offering.





RESIZED Straits Energy office

Malaysia-listed Straits Energy Resources Berhad on Monday (2 October) announced the company’s intention to spin-off its oil bunkering and shipping related services segment for listing on NASDAQ stock exchange in the United States by way of a registered public offering.

In a filing with Bursa Malaysia, the firm said it intends to undertake a reorganisation of some of its subsidiaries involved in the oil bunkering and shipping related services segment, for the purpose of forming a separate listing group or Spin-Off Group suitable for the listing on NASDAQ.

“It is envisaged that these subsidiaries to be comprised in the Spin-off Group will continue to remain as

subsidiaries of Straits upon the completion of the Proposed Listing,” the company said. 

Straits Energy added it will make a detailed announcement in relation to the proposed listing in due course, once the board of directors has finalised and approved the terms and structure of the exercise. 

It said the listing would enable the Spin-Off Group to gain recognition and corporate stature through the listing status of its own on NASDAQ.

The company added the listing would further enhance its corporate reputation and profile which will be conducive in expanding its customer base whilst allowing the Spin-Off Group to expand and establish its global presence. 

The proposed listing would also enable the Spin-Off Group to gain access to the capital market in the United States for capital raising and to provide the Spin-Off Group with financial flexibility for future expansion and growth.

It will also unlock shareholders' value in the oil bunkering and shipping related services and provide transparent valuation benchmark for the same on NASDAQ, it added. 

Manifold Times previously reported marine fuel logistics firm CBL International Limited (CBL International), an ultimate holding company of Banle International Group Ltd (BVI), a 38%-associate company of Straits Energy Resources Bhd announced it would be listed on Nasdaq. 

Later, Manifold Times did an exclusive interview with Banle Group who shared insights on the successful listing of CBL International Limited, its listing vehicle, on the Nasdaq Capital Market

Related: Malaysia: Straits Energy associate CBL International to be listed on Nasdaq
Related: Exclusive: Banle Group sets sights on expanding bunker supply network with successful IPO on Nasdaq

Photo credit: Straits Energy Resources Berhad
Published: 4 October, 2023

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VPS announces new appointments for key positions

Andrew Morton has been appointed to the role of Managing Director AMEA while Captain Rahul Choudhuri has been appointed to the newly created role of President Strategic Partnerships.





VPS announces new appointments for key positions

Marine fuels testing company VPS on Tuesday (3 October) announced the appointment of Andrew Morton to the role of Managing Director AMEA (Asia, Middle East and Africa).

In this role, Andrew will apply his experience and knowledge to lead the delivery of VPS services to these important and growing regions. He joins VPS having spent the last 17 years working in the oil and gas industry, most recently with TotalEnergies in various positions and countries. 

These included technical, commercial, management, mergers and acquisitions and most recently the New Energies space, including renewable energy, biogas and fuels, hydrogen and LNG. He has a BSc (Hons) in Chemistry and started his career in research and development in the lubricants industry for Fuchs.

Dr. Malcolm Cooper, VPS CEO, stated “We are delighted to welcome Andrew on board as our MD AMEA. His background and experience will be helpful in supporting our customers in these important Regions, particularly in the rapidly developing decarbonisation space.”

Andrew Morton, said: “I am delighted to join VPS and the team and take over the role of Managing Director - Asia, Middle East and Africa. It is a privilege to join the global market leader and to manage a zone where the maritime industry is growing. I look forward to working with the various companies and associations across the industry to help them with their decarbonisation journey.”

VPS also announced that Captain Rahul Choudhuri has been appointed to the newly created role of President Strategic Partnerships. In this role, Rahul will use his network to enhance and further develop relationships with customers and operators from across the shipping ecosystem to help VPS support their decarbonisation journey.

Dr. Malcolm Cooper, VPS CEO, stated “Captain Rahul is well-known across the Maritime sector and he has been the figurehead for VPS Asia and the Middle East for many years. He has been instrumental in many developments within VPS and across the shipping industry, making significant contributions to developments through a wide range of Committees and organisations.”

“His new role will enable him to focus more on our external relationships, which are of growing importance as we aim to support the shipping sector on it’s decarbonisation journey. We in VPS are very proud of Rahul’s achievements to date and we know there will be more to come.”

Rahul, said: “I am looking forward to this new opportunity. This role will allow me to use my experience and close relationships to strengthen, build and develop the industry partnerships needed to deliver new decarbonisation solutions offered by VPS. My work with industry associations allows a greater professional engagement with stakeholders to take the industry forward in challenging times”.

Photo credit: VPS
Published: 4 October, 2023

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