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IBIA rallies for industry support to achieve ambitions to support bunker industry

IBIA said it has implemented new organizational structures and functional improvements over the year to serve the bunker industry thanks to the support of its members.
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The International Bunker Industry Association (IBIA) on Thursday (3 December) said it will be implementing structural changes and functional improvements to better serve the marine fuels sector. 

IBIA Chairman, Henrik Zederkof, has earlier outlined three focus areas for IBIA: 

  1. Implement a new organizational structure to enhance IBIA’s global reach.
  2. Push for the adoption of broadly similar bunker licensing schemes in major bunker hubs world-wide.
  3. Pro-actively engage in achieving the IMO’s CO2 emission reduction goals.

As such, the bunkering association said it is working on these ambitions in tandem and reports its progress in the following statement:

We aim to set up five Regional Boards to improve IBIA’s ability to represent interests in specific regions. We have already established a Regional Board for Asia and we expect to have a Regional Board for Africa by the end of 2020, and for an Americas Regional Board to be up and running early 2021.

We have engaged with port authorities, other industry associations and our members world-wide, to seek more conformity in bunker procedures and a level playing field through bunker licensing, and we see this as a driver for industry improvements in transparency, compliance and safety. 

IBIA was a key contributor to ensuring a successful transition to the global 0.50% sulphur limit for bunker fuel through our input to the IMO’s guidelines for 2020, as well as industry collaboration and information services. We are now providing a platform for our members to facilitate dialogue about the options so we can play our part in the transition to a carbon-neutral future, including through continued engagement in IMO discussions.

As a principle, IBIA has always ensured a low membership fee and balanced the cost of running the association. Covid-19 has challenged this concept as we have not been able to host any physical events since February 2020, and we cannot do so until we are confident that it is safe.

We have therefore taken steps to ensure we can achieve our ambitions through a fundraising campaign, reaching out to our members for support. Our request has been very positively received and we have already secured a commitment for 40% of the campaign objective. We are very grateful to our supporters who see the value in IBIA, their contributions have given us a positive start to the campaign we had only hoped for.   

We are deeply grateful to KPI OceanConnect, Fratelli Cosulich, BMS United, Energy Petrol, A/S Dan-Bunkering Ltd, Glander International Bunkering, Monjasa A/S, Maersk Oil Trading Ltd and Bunker One A/S, for their substantial contributions.

Thanks to this support, we are confident that we will have a solid foundation to work with our members and industry partners in setting, and achieving, ambitions for the future.


Photo credit: IBIA
Published: 4 December, 2020

 

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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.

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July 21, 2026

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RESIZED Sora Shimazaki on Pexels

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.

Related: Singapore: Hin Leong Founder OK Lim gets jail term slashed to 13.5 years

 

Photo credit: Sora Shimazaki
Published: 21 July, 2026

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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.

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22 hours ago

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July 21, 2026

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RESIZED Drew Beamer

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.

Related: Singapore: Director declares Heng Tong Fuels & Shipping’s inability to continue business
Related: Heng Tong Fuels & Shipping in court over DBS Bank bunker tanker loan
Related: Singapore: Bunker tanker “Coastal Neptune” arrested
Related: Heng Tong Fuels & Shipping, Coastal Logistics tankers enter S&P market

 

Photo credit: Drew Beamer
Published: 21 July, 2026

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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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July 21, 2026

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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

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