Business

SIBCON 2022: SGTraDex enters MOU with six bunkering sector tech providers

Collaboration with ADP Clear, Angsana Technology, Brightree, BTS, Bunkerchain and PSA Marine signed on the sidelines of SIBCON 2022.

Published

4 years ago

October 6, 2022

Admin

A memorandum of understanding (MOU) was inked between Singapore Trade Data Exchange Services (SGTraDex Services) and maritime tech providers ADP Clear, Angsana Technology, Brightree, BTS, Bunkerchain and PSA Marine on the sidelines of Singapore International Bunkering Conference and Exhibition (SIBCON) 2022 during Wednesday (5 October).

Graced by Mr Chee Hong Tat, Senior Minister of State for Finance and Transport, the MOU solidified the partnership between the signatories and SGTraDex Services to jointly improve efficiency and resilience for bunkering sector by reducing duplicative effort and providing access to documents from trusted sources.

About SGTradex’s Bunkering Optimisation Use-Case

Launched on 1 June 2022, the Singapore Trade Data Exchange (SGTraDex) is a digital utility that facilitates the sharing of data between supply chain ecosystem partners, streamlining information flows through a common data highway where data can be shared in a trusted, secure and inclusive manner.

SGTraDex was mobilised to solve supply chain industry pain points based on a “use case” led approach and “value focused’ principles”. It means identifying problems that are relevant to participants and the industry as a whole, sharing business processes and experiential challenges between the participants, offering best practices and, as a result, aligning on the flow of information and data exchange, fundamental to solving the pain points identified.

SGTraDex represents the foundation that provides the infrastructure that allows all counterparties to operate more securely and efficiently. Partnerships with technology providers are key to achieving that efficiency and trust.

The bunkering optimisation use-case (Use Case C) digitalises the exchange of commercial (documents) and operational (event) data between ecosystem partners like storage facility operators, cargo owners, bunker suppliers, barge operators, bunker buyers and financial institutions.

The exchange also unlocks value for the ecosystem by collaborating with industry platform providers like the signatories of the MOU.

“With this ecosystem of partners, participants can connect with SGTraDex to access multiple partners and platforms, thereby expanding their own network of trade data partners” said Antoine Cadoux, CEO of SGTraDex Services.

Building a future-ready bunkering sector

By digitising trade documents for the bunkering and adjacent industries, SGTraDex and the maritime tech providers will:

Improve operational efficiency through digitisation of trade documents
Reduce the risk of trade finance fraud and increase confidence in financing by allowing financing institutions to validate the authenticity of trade documents via data obtained directly from trusted parties and sources.

“Our core belief is that underpinning a well-functioning supply chain and trade ecosystem, is the need to efficiently communicate commercial and operational data between stakeholders. To do so, we need to move away from paper-based processes since they are highly inefficient and more susceptible to the risk of fraud,” said Antoine Cadoux.

“The bunkering sector is no exception. As a neutral digital highway, working closely with maritime tech providers, together, we can build a future ready bunkering sector that is more effective and more resilient.”

“As a major hub port and bunkering centre, we need to leverage on digitalisation to increase efficiency and transparency,” said Kenneth Lim, Assistant Chief Executive (Industry & Transformation), Maritime and Port Authority of Singapore.

“MPA welcomes the partnership between SGTraDex and the marinetech technology community to develop innovative solutions to promote greater data sharing and exploitation of data for insights. We look forward to the industry adoption of digital solutions to deliver better services and enhance their business competitiveness.”

Photo credit: Singapore Trade Data Exchange Services
Published: 6 October, 2022

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

17 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

17 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

17 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