Business

ENGINE: Europe & Africa Bunker Fuel Availability Outlook

A Gibraltar supplier is expected to have limited volumes to supply until the end of the month, and pre-winter heating oil demand continues to support bunker prices.

Published

5 years ago

October 21, 2021

Admin

The following article regarding Europe and Africa bunker fuel availability has been provided by online marine fuel procurement platform ENGINE for publication on Singapore bunkering publication Manifold Times:

20 October, 2021

A Gibraltar supplier is expected to have limited volumes to supply until the end of the month, and pre-winter heating oil demand continues to support bunker prices.

All fuel grades remain tight for prompt dates in Gibraltar. A supplier is unable to commit to deliveries until the end of the October after running out earlier this month. Other suppliers have no issues and can supply across Gibraltar Strait ports on short notice.

Rotterdam’s VLSFO price reached all-time highs this week. The price rose with help from Brent, and received extra support from robust bunker demand and below-average stocks. Steepening backwardation in its forward curve has contributed to make it less lucrative to store the fuel grade.

An outage at an atmospheric distillation unit at the VLSFO-producing Sines refinery in Portugal may curb some output to the European market, as the unit is expected to operate at reduced capacity for weeks.

Independently stored fuel oil in the Amsterdam-Rotterdam-Antwerp (ARA) hub recovered some of the lost weight last week, after a big draw in the preceding week, according to Dutch consultancy Insights Global. The stocks remain below their five-year average position, but were helped this week by cargo inflows, mainly from Russia.

ARA’s gasoil stocks fell below 15 million bbls again and remain far below their five-year average. Seasonal winter demand for heating oil and rocketing natural gas prices have spurred gasoil demand and supported prices.

Strong heating oil demand has supported ICE low sulphur gasoil futures, and brought Rotterdam’s LSMGO-VLSFO spread to its widest point since August 2019 – before demand for VLSFO started to pick up in the lead-up to the IMO 2020 transition.

Swells are forecast to pick up in Las Palmas from Thursday and well into next week. Disruptions and delays to outer anchorage bunkering are likely if weather conditions match the forecast. The port’s supply capacity at inner anchorage and at berth is much more limited and can easily get congested when outer anchorage bunkering is suspended.

Weather conditions are expected to deteriorate in Algoa Bay with wind gusts of more than 30 knots forecast on Wednesday evening. Bunkering is likely to be disrupted, shipping agent Sturrock Grindrod says. 14 vessels are due to arrive at the anchorage over the next four days. Disruptions could create a backlog. More bouts of high winds are forecast in Algoa Bay on Friday, Saturday and next Wednesday.

Photo credit: ENGINE
Published: 21 October, 2021

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

18 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

18 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