Singapore-based energy trading firm Agritrade Energy will be ending operations by the end of March, according to Reuters.
"The […] business hasn't yielded satisfactory returns and the owners would rather focus on other core parts of their business," said a source.
Agritrade Energy was incorporated in 26 January 2015 and is under the management of company director Ng Xin Wei who is also the managing director of Singapore-based palm oil, coal and logistics player Agritrade International.
Agritrade International has a 58% stake in Hong Kong-listed Agritrade Resources which as a market value of $1 billion.
“Management wants to focus more on the coal business," another source told Reuters.
Agritrade Resources operates two coal mines in Central and South Kalimantan, Indonesia.
Source: Reuters
Published: 9 March, 2018
Highest savings achieved when bunker prices are high and owners’ earnings are low, including on long journeys.
‘The agreement with Vertex Energy solidifies Bunker One’s position as a vertically integrated supplier of marine fuels in the USA,’ says Carlos G Torres.
Tanker arrested at 14.5 eastern nautical miles of Tanjung Penawar at about 7.15pm on 17 August after Captain failed to produce permission documents.
‘We have reviewed all the material in the case and we are surprised that formal charges have been pressed, particularly against Keld R. Demant,’ it said.
DNV GL Maritime CEO highlights the urgency of adopting alternative bunker fuels such as gas immediately, rather than waiting for the ‘perfect’ fuel option to reduce GHG emissions.
Bahamas-flagged MT Strovolos, which Cambodia claims is carrying $21 million worth of crude oil, has allegedly been stolen from Singapore-based Krisenergy.
‘We are here to transfer the extremely valuable knowledge gained over the past six years to the maritime sector, such that our customers are comfortable in the use of such biofuels,’ states CEO Olivier Baiwir.
Newly appointed Anthony Mollet speaks to Manifold Times about his role, vision, value proposition and plans for the Marine Fuels Alliance to become a wide-reaching and engaging bunkering industry association.
SFP will be retrofitting VPT’s existing bunker vessel with its Full Electric Ready (FER) system and seeks to commission the vessel in the second quarter of 2022, CEO of SFP George Lee tells Manifold Times.
Equatorial Marine Fuel Management Services, Oldendorff Carriers, Lloyd’s Register and organisers took part in a Bunker Quality Claims Webinar moderated by Manifold Times on 10 November.
‘Though it did introduce temporary commercial and operational disruptions, we took a constructive view of the situation and chose to use this event as a learning opportunity,’ shares a Consort Bunkers spokesperson.
Gealubes Consulting & Trading, the authorised marine business distributor of PANOLIN EALs at Singapore port, shares a two-part education series on Environmentally Acceptable Lubricants on Manifold Times.
30 Nov 2021
