Business

ENGINE: Europe & Africa Bunker Fuel Availability Outlook

ARA’s gasoil stocks drawn by 10% in June; VLSFO and HSFO tight in Las Palmas; VLSFO and LSMGO availability normal in Gibraltar Strait.

Published

3 years ago

July 6, 2023

Admin

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

5 July 2023

ARA’s gasoil stocks drawn by 10% in June
VLSFO and HSFO tight in Las Palmas
VLSFO and LSMGO availability normal in Gibraltar Strait

Northwest Europe

HSFO supply remains tight for prompt delivery dates in Rotterdam and in the wider ARA hub, a trader says. Recommended lead times for HSFO and VLSFO are unchanged at 5-7 days. LSMGO, meanwhile, is readily available for very prompt dates (0-2 days). At least three suppliers can supply prompt LSMGO in Rotterdam.

The ARA’s independent gasoil stocks averaged 10% lower in June than across May, and were at their lowest level since January, according to Insights Global data. The gasoil inventories have come down sharply from recent peak levels of 18.59 million bbls seen in February, to 16.41 million bbls in the latest week.

The region’s fuel oil stocks averaged 5% lower in June than in May.

VLSFO and LSMGO availability remains normal for delivery off Skaw, while HSFO is relatively tighter, a source says. Recommended lead times for all grades remain unchanged at 7-10 days.

Bunker fuel availability is normal in the German ports of Hamburg and Bremerhaven, with lead times of five days.

Mediterranean

Availability of VLSFO and LSMGO remains normal in Gibraltar, a source says. Recommended lead times for both grades are about 3-5 days in the port. LSMGO availability is good in Ceuta, with a supplier able to deliver stems with five days of lead time. In Algeciras, VLSFO and LSMGO availability is normal for prompt delivery dates.

Minimum congestion was reported in Gibraltar, Algeciras and Ceuta on Wednesday, according to port agent MH Bland. Two suppliers in Gibraltar and three in Algeciras were behind schedule.

VLSFO and HSFO availability is tight in Las Palmas. One supplier can offer VLSFO for delivery dates in mid-July, while others are hesitant to confirm delivery dates, sources say. Tight availability has pushed prices for the grade higher in recent days. Las Palmas, which typically prices VLSFO at parity with or lower than Gibraltar, now prices the grade $16/mt higher.

One supplier in Las Palmas expects an HSFO replenishment cargo to arrive by next week.

VLSFO and LSMGO availability is normal in the Portuguese ports of Lisbon and Sines, a source says.

HSFO, VLSFO and LSMGO availability has improved in the Greek port of Piraeus.

Africa

VLSFO and LSMGO availability remains steady in the South African ports of Durban and Cape Town, and at the Algoa Bay anchorage by Port Elizabeth, where lead times of up to seven days are recommended, a source says.

Bunkering were suspended in Algoa Bay on Wednesday due to rough weather conditions, according to Rennies Ships Agency. Four vessels were waiting to bunker at anchorage, and another three vessels were scheduled to arrive for bunkers between Thursday and Friday, Rennies says.

Nithin Chandran

Photo credit and source: ENGINE
Published: 6 July, 2023

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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.

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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.

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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

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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.

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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.

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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