Business

FIS and ENGINE bunker pricing, data sharing partnership to go ‘live’ on 17 May

ENGINE’s physical pricing for HSFO, VLSFO and LSMGO fuel oil in Rotterdam, Singapore, Houston and Fujairah will be available on the FIS Live platform.

Published

5 years ago

May 14, 2021

Admin

Freight Investor Services (FIS) and Engine Technologies (ENGINE) on Wednesday (12 May) announced a new data sharing partnership, bringing together their respective expertise on bunker futures and physical markets.

The partnership, due to go live 17th May, will see physical and future derivative prices on fuel oil products available on both the FIS Live and ENGINE platforms.

As part of the agreement, FIS will be providing real time pricing on the main future contracts for Singapore and Rotterdam Very Low Sulphur Fuel Oil (VLSFO) as well as High Sulphur Fuel Oil (HSFO) prices, plus their gasoil 10ppm equivalents for the ENGINE platform.

In return, ENGINE’s physical pricing for HSFO, VLSFO and LSMGO fuel oil in Rotterdam, Singapore, Houston and Fujairah will now be available on FIS Live. In addition, both companies will be aiming to share market intelligence and analysis content across both platforms.

FIS Live is Freight Investor Services’ commodity derivative app offering pricing on freight and bulk commodities such as Dry FFAs, Container Freight, Bunkers, Iron Ore and Fertilisers. FIS Live goes beyond other platforms by offered a complete holistic view of the commodity complex.

“It’s been a true pleasure to work with ENGINE, to pair our longstanding expertise on the derivatives market with the world’s most comprehensive platform for marine fuel,” said Kerry Deal, Head of Business Development at FIS.

“This is really a partnership that benefits customers on both sides, allowing full price transparency, physical purchasing, and futures hedging ability across bunker products. This is something we have heard customers request again and again, and with this partnership we’ve delivered on that request.”

ENGINE is a unique technology platform enabling all participants in the bunker space to evaluate, develop and benchmark fuel procurement strategies.

The platform is powered by hundreds of real bunker transactions captured and processed every day, thousands of fuel quality tests, real-time AIS tracking as well as a continuous news flow, that affords customers the best bunker market intelligence in the web browser and on the mobile app.

“We are incredibly excited to announce our partnership with FIS and being able to provide our customers with real time pricing on the main future contracts in the key bunker hubs,” said Ove Munthe-Kaas, Business Development at ENGINE.

“The partnership allows us to build on the transparency that ENGINE brings to the bunker space and which we feel will inevitably benefit the end user. We are building a community of shipowners and suppliers that collaborate and communicate with each other through the platform, and the partnership with FIS is a great addition to this community.”

Published: 14 May, 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

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

17 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

17 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