Business

ENGINE: East of Suez Bunker Fuel Availability Outlook

Availability good in Zhoushan; South Korean ports face weather disruptions; LSMGO availability good in Omani ports.

Published

3 years ago

June 21, 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:

20 June 2023

Availability good in Zhoushan
South Korean ports face weather disruptions
LSMGO availability good in Omani ports

Singapore

Demand has been very “bullish” in Singapore so far this week, a source says. VLSFO and HSFO availability has gotten tighter in the port. Lead times for VLSFO have gone up from 7-9 days to 8-10 days, and for HSFO from 5-9 days to 11-13 days.

On the other hand, LSMGO remains more readily available in Singapore, with prompt dates available.

Singapore’s residual fuel oil stocks have averaged 7% higher in the first two weeks of June than in May, according to Enterprise Singapore.

The port’s net fuel oil imports have surged by 34% over May levels, and to their highest so far this year. While the port’s fuel oil imports have risen by 22% and are at their highest level since June last year, the fuel oil exports have inched up by only 1%. This has comfortably tilted the port’s trade balance into net imports in support of stocks this month.

Meanwhile, the port’s middle distillate stocks have risen by 11% on the month.

East Asia and Oceania

A source says that availability across all grades remains good in Zhoushan amid weak demand. Short lead times of 2-5 days are recommended for all bunker fuel grades – virtually unchanged from last week. Some supplies can offer all grades for delivery on even more prompter dates depending on stem sizes, the source adds.

Hong Kong has seen average demand recently. Lead times for all grades have increased slightly in the port, from around seven days last week to 7-10 days now.

Meanwhile, VLSFO has been getting tight in some South Korean ports as several suppliers are low on stocks. Availability of the grade is now subject to enquiry, a source says.

Some suppliers that were offering LSMGO and HSFO for prompt delivery dates in South Korean ports last week are now offering both grades with slightly longer lead times of 3-7 days.

The South Korean ports of Ulsan, Onsan, Busan, Daesan, Taean and Yeosu are forecast to experience adverse weather conditions intermittently between 21-25 June, which could disrupt bunker deliveries.

Rough weather conditions are also forecast in the Kiwi port of Tauranga between 21-14 June, which might hamper bunker operations.

South Asia

India’s southern ports of Cochin and Chennai and western port of Kandla have good VLSFO and LSMGO availability, with short lead times of 2-3 days.

A source says that both grades remain quite tight in the Indian ports of Mumbai, Visakhapatnam and Paradip, as they have been in the recent weeks. Delivery dates are subject to availability. Meanwhile, bunker deliveries in Tuticorin on the southeast coast, and Haldia on the east coast, remain subject to enquiry, the source adds.

Several key west coast ports including Mundra, Sikka and Pipavav have restarted operations over the weekend after being suspended by cyclone Biparjoy last week.

However, bad weather is forecast in the Indian ports of Kandla and Sikka on 21 June and 25 June, respectively, which might disrupt bunker operations.

Middle East

Securing prompt stems for all grades can be difficult in Fujairah, with lead times of 5-7 days recommended – up from around 3-5 days last week. But some suppliers can still offer all grades on prompt dates depending on stem sizes, a source says.

Availability across grades remains normal in the nearby UAE port of Khor Fakkan, with lead times of 5-7 days recommended – almost unchanged from last week.

LSMGO remains is available in the Omani ports of Duqm, Sohar, Salalah and Muscat.

By Tuhin Roy

Photo credit and source: ENGINE
Published: 21 June, 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

16 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

16 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

16 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