Singapore is home to a unique and diverse international trading community that has grown from strength to strength over the past three decades.
However, certain events taking place within the republic’s commodities sector during the second quarter of 2020 have resulted in the government starting industry-wide efforts to enhance local commodity financing standards.
The development has also signalled a need for independent and reliable commodity trading houses such as Norwegian Oil Trading (NOT), a subsidiary of Norwegian family-owned business Hesnes Group, which operates an office at the republic, believes the company.
“NOT prides itself as among the few independent boutique trading/brokering houses with active participation in the bunker fuels market,” Roger Liau, Trading Manager of NOT’s Singapore office, told Manifold Times.
“Our Singapore office was set up in 2014 in order to offer customers a local presence at the biggest bunkering port in the world. Our representative office in Miami was established in 2017 and provides clients coverage in the western hemisphere.
“With the ongoing consolidation and mergers in the market, we believe the bunker market definitely needs an independent company offering comprehensive bunker procurement solutions while offering excellent tailored services differing from the major trading houses.”
He notes independent bunker trading firms such as NOT are better placed to tailor bespoke solutions for shipowner clients through association with their well-known parent firms and investors.
NOT is backed by the Henses Group of Norway, which is active in the fields of shipbroking, bunker broking, ship owning, and investing in real estate and financial assets, as its majority owner.
NYK Trading Corporation, the trading arm of NYK Group which is amongst the largest shipowners of Japan, is a minority owner of NOT.
“As such, NOT enjoys large credit trade finance facility with our bank, without the need to pledge our receivables,” shares Liau.
“Come join us and be inspired by the journey.”
Roger Liau’s contact details are as follows:
Tel: +65 3157 3481
Mob: +65 9021 3988
[email protected] (General email)
[email protected] (Direct email)
Skype: [email protected]
Photo credit: Manifold Times
Published: 26 August, 2020
Three Directors came to a view that they were unable to discharge their function and duties, says company.
As buyers begin to stock up on low-sulphur fuel and start testing ahead of IMO 2020 upcoming deadline.
Four experienced bunker specialists from the J. Lauritzen Bunkers desk are now all working for DeaL Energy A/S, according to the new company.
Monjasa continues steady and efficient supply of more than 10 million tonnes of marine fuels across West Africa between 2010-2020 with latest floating storage.
‘When you think of Helmsman on the next occasion, think of us as lawyers with expertise in various fields. Come to us before a problem develops. It’s the process that matters,’ says Tang Chong Jun, Executive Director.
GTT will design the fuel tanks for five 15,000 TEU LNG-fuelled container vessels which are expected to be delivered between Q3 2023 and Q1 2024.
KPI OC seeking to recover debt of USD 805,602.15 over five bunker deliveries, not including accrued interest of about USD 363,000 since 15 September, showed court documents obtained by Manifold Times.
Discussions around the need to develop methanol bunkering operations are taking place at numerous ports ahead of estimated demand of above 7M mtpa by 2030, says Chris Chatterton of Methanol Institute.
‘Economics of the shipping market will be the key driver enabling methanol to be adopted at a higher pace going forth over next couple years as market begins to return to more normal rates,’ states COO.
Integr8 Fuel injunction varied by Singapore Court to allow former employees to start work at Hartree Group in December 2022 following failure to produce evidence on biofuels development plans.
Variability of sources can affect the stability and performance of biofuel bunkers produced from these feedstocks, in turn leading to difficulties in meeting regulations and industry standards, shares Bryan Quek.
Top three positive movers in 2022 were Bunker House Petroleum Pte Ltd (+7), Eastpoint International Marketing Pte Ltd (+5), and Eng Hua Company (Pte) Ltd (+6); newcomer Sinopec Fuel Oil (Singapore) gets 19th spot.
