The Singapore subsidiary of Connecticut-based Freepoint Commodities, a U.S. based merchant of physical commodities and a financer of upper-and mid-stream commodity-producing assets, is planning to start supplying very low sulphur fuel oil (VLSFO) at the republic by the fourth quarter (Q4) of 2019, reports Reuters.
“We already have Asian clients booking our supply of low-sulphur fuel oil,” which will start arriving in the fourth quarter, said Ouyang Xiuzhang, head of Freepoint Singapore, as quoted in an interview.
According to Ouyang, the parent company will be sending ship US fuel oil components for blending operations of VLSFO in Asia.
“We can supply out of floating storage in Singapore,” he notes while adding the company has earlier entered an agreement with PT Pertamina to further develop the TBBM Sambu Island Fuel Terminal.
Related: Indonesia: Freepoint Commodities expands regional bunker business
Published: 22 August, 2019
BP Singapore supplied VLSFO to grounded vessel MV Wakashio in July and that ‘is the limit of BP’s involvement with the vessel and the voyage in question’.
Toyotsu Energy Corporation supplying bio bunker fuel for three test trials to take place by July under project supported by the Nagoya Port Authority.
According to the notice in the Government Gazette, the last day for receiving proofs is Friday (6 November) at the office of liquidators Deloitte Singapore.
The company recorded impairment charges of $91.9 million primarily related to its marine segment, it notes.
Expressions of Interest are to be lodged with PricewaterhouseCoopers Advisory Services Pte. Ltd. by 15 October 2020, reads the notice seen by Manifold Times.
Both firms to complement ESG’s effort in the bunker fuel trading sector comprising more than 70 players, to ensure Singapore can meet the demands of the oil trading industry.
Firm hopes to leverage partnership in Greece as a springboard to expand into neighbouring and overseas markets including Europe and China, says Robin Van Elderen, Regional Head Bunkers, Europe, Sing Fuels.
Singapore can help less developed countries in SouthEast Asia through ‘piloting and scaling fuels and technology as well as a leading hub for green finance’, said DNV Group President and CEO Remi Eriksen.
Octamar™ Ultra HF, Octamar™ Complete, and Octamar™ F35C were found to have improved the fuel economy while reducing exhaust gas and other emissions of marine engines in a series of trials, states report.
Disposal of evidence has resulted in Singapore not being able to provide full details to the United Nationals Panel of Experts which sought information regarding the case, says Ministry of Foreign Affairs.
‘We are proud to be amongst the first to show the successful steps taken by Singapore’s bunkering ecosystem to remain forward thinking and relevant,’ Choong Sheen Mao, Director of EMF, tells Manifold Times.
‘With the launch of a common data infrastructure, Kenoil aims to continue achieving an end to end visibility and transparency on the bunker data supply chain,’ states Kenoil Managing Director.
