At least two lenders have blocked short term credit facilities to Singapore oil company Hin Leong Trading Pte Ltd, reported Bloomberg on Thursday (9 April).
The company could be one of the latest firms to be adversely affected by the drastic fall in oil prices which is fuelled by a potent mix of oversupply and falling demand, the report alleged.
According to Hin Leong Trading’s website, the company’s assets from its subsidiary Ocean Tankers (Pte.) Ltd. includes more than 130 vessels ranging from coastal barges to 318,000 dwtVLCCs, and ranks 16th among worldwide tanker operators.
Photo credit: Swapnil Bapat
Published: 13 April, 2020
Plans to expand its outer port limit bunkering service to Guyana/Suriname, says Bunkering Manager.
Vitol’s global marketing network is expected to expand the GTIS bunker market while GTIS continues to provide storage, services and logistics infrastructure.
President of the Singapore Shipping Association shares observations of the Singapore bunkering sector at IBIA Annual Convention 2017.
Launching service at three locations, mulls for future Singapore bunker fuel testing laboratory.
Iranian-flagged grain vessels Bavand and Termeh have been waiting for fuel at Paranagua Bay, Brazil since June.
‘It is clear that there is no limit to the undignified levels which the GSD will stoop to for political gain,’ says govt.
Caroline Yang, President of SSA, addresses issues earlier raised by players; including PMC No. 04, the seven-day restriction, contactless bunkering, sampling point, hose connection, and more.
IBIA Asia, ABIS, sources from Singapore’s bunkering and surveying companies, and an industry veteran share with Manifold Times the issues expected from MPA’s latest Covid-19 measures.
The top three positive movers in the 2020 bunker supplier list are Hong Lam Fuels Pte Ltd (+13); Chevron Singapore Pte Ltd (+12); and SK Energy International (+8), according to MPA list.
‘We will operate in the Singapore bunkering market from the Tokyo, with support from local staff at Sumitomo Corporation Singapore,’ source tells Manifold Times.
Changes include abolishing advance declaration of bunkers as dangerous cargo, reducing pilotage fees on vessels receiving bunkers, and a ‘whitelist’ system for bunker tankers.
Claim relates to deliveries of MGO to the vessels Pacific Diligence, Pacific Valkyrie, Pacific Defiance, Crest Alpha 1, and Pacific Warlock between March 2020 to April 2020.
