Business

OPIS expands product portfolio offerings for Global Marine Fuels Report

Development includes price discovery for additional bunker ports across Asia, Europe and the Americas.

Published

7 years ago

December 26, 2019

Admin

Price reporting agency Oil Price Information Service (OPIS), an operation under IHS Markit, has recently expanded its offerings in its Global Marine Fuels Report to include price discovery for additional bunker ports across Asia, Europe and the Americas, it said.

The daily price benchmarks found in the OPIS Global Marine Fuels Report, are based on full-day assessments.

In addition, the company has also expanded its OPIS-benchmarked ultra-low-sulfur-diesel (ULSD) prices for spot and rack markets across the U.S.

Diesel will be an essential component for the production of 0.5% sulphur (0.5%S) IMO 2020 compliant fuel, also known as very-low-sulphur fuel oil (VLSFO), and it already is a major component of marine gas oil (MGO), according to OPIS.

“Only the OPIS Global Marine Fuels Report offers bulk fuel oil, bunker, barge rates and LNG prices in a single publication, along with a British thermal unit (BTU) indicator that allows buyers to compare the energy content-per-dollar-spent on the various marine fuel grades available,” said Jennifer Brumback, director of refined products and renewable fuels for OPIS.

“As the benchmark for diesel fuel in select U.S. wholesale markets, OPIS is uniquely positioned to provide the most widely used pricing for the diesel products that will be a major component of the price and formulations of the new IMO 2020-compliant marine fuel blends.”

OPIS Global Marine Fuels Report now features ULSD benchmark rack prices for the following cities:

Houston
New York
Philadelphia
Norfolk, Virginia
New Orleans
Los Angeles
Seattle
Detroit
Vancouver, British Columbia

ULSD spot prices have been added to the OPIS Global Marine Fuels Report for:

Gulf Coast
New York Barge
Los Angeles
Pacific Northwest

New bunker ports in the OPIS report include:

Asia

Chiba, Japan
Busan, South Korea
Kaohsiung, Taiwan
Zhoushan, China

Europe

Antwerp, Belgium
Hamburg, Germany
Istanbul
Gibraltar
Piraeus, Greece

Americas

Philadelphia
Norfolk, Virginia
Vancouver, British Columbia
Manzanillo, Mexico
Veracruz, Mexico
Valparaiso, Chile

Photo credit: Manifold Times
Published: 26 December, 2019

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

12 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

12 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

12 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