The bunkering licenses of Ocean Bunkering Services (OBS), the marine fuels business arm of troubled Hin Leong Trading, has been suspended until further development, according to a Maritime and Port Authority of Singapore (MPA) spokesperson.
The representative was providing clarification to a query from Manifold Times when asked if the bunkering licenses of OBS have been permanently revoked.
“The Maritime and Port Authority of Singapore (MPA) has been monitoring the development of Ocean Bunkering Services (OBS), an affiliated company of Hin Leong Trading,” the spokesperson told the Singapore bunkering publication on Friday (23 October).
“Given that OBS has stopped its bunkering operations since April this year and has not been able to fulfil its licensing commitment to date, MPA has suspended their bunkering licences until further notice.
“The Singapore bunkering sector is well diversified with 44 other licensed bunker suppliers. MPA will continue to work with industry stakeholders to ensure that Singapore’s supply chain for oil products and bunkering operations continues to function without any disruptions.”
A check on the MPA website on Friday has found OBS still being listed within the port authority’s List of licensed bunker suppliers in the Port of Singapore and List of licensed bunker craft operators in the Port of Singapore.
PricewaterhouseCoopers in early October published a notice in local papers for an “investment opportunity in an independent bunker fuel and lubricant supplier in Singapore” which is believed to be OBS.
The notice was issued by Goh Thien Phong and Chan Kheng Tek of PwC who are also the judicial managers of the financially troubled Hin Leong Trading, according to an earlier report.
Photo credit: Manifold Times
Published: 23 October, 2020
‘We need to keep in mind the saying “penny wise pound foolish”,’ says Captain Rahul Choudhuri, the Managing Director AMEA at VPS, who stresses on the essential role of the Bunker Surveyor.
Legal representatives met at the High Court on Tuesday to discuss the discharge of KPMG liquidators from all liability in respect of conduct in the course of winding up, show court documents.
Global sentence adjusts to 80 month’s imprisonment term for both Chang and Koh under application of the Masui sentencing framework; fine of SGD 6.2 million against Chang remains unchanged.
Company has been ranked EIGHTH for 2020; ‘we are humbled and proud to be placed amongst the top ten winners of the Enterprise 50 Awards,’ says Satnam Singh, COO, Sing Fuels.
Mads Bjornebye, Manager of Bunker Services at Teekay Tankers Ltd, shares about the company’s perspective of e-BDNs, bunker purchasing & planning tools, while offering his thoughts on future marine fuels.
Maritime sector may find it increasingly challenging to manage bunker prices, Dennis Ho, Managing Director at ElbOil Singapore tells Singapore bunkering publication Manifold Times.