Business

Singapore-based trading firm Synergy Asia Bunkering opens for business

Vietnam specialist bunker trading firm ‘bridges gap’ between international shipowners and local suppliers by providing range of intermediary services, says Director.

Published

8 years ago

October 2, 2018

Admin

Synergy Asia Bunkering (SAB), a Singapore-based bunker trading firm specialising in deliveries of marine fuel within the Vietnam market, is now officially open for business, says its Director.

“I was part of the Vietnam bunkering industry since 2011 and found several shipowners and customers overlooking it as a bunkering port due to potential disputes, issues with ISO specs and other factors,” Steven Low told Manifold Times in an exclusive interview.

“We have heard concerns from owners on bunkering in Vietnam covering quality and quantity, and the acceptance of one-sided contractual terms and conditions.

“As a solution provider familiar with these problems, I thought it will be a good idea to start a business focusing on this niche area to offer confidence to shipowners calling at Vietnam for bunkers.”

Vietnam National Petroleum Group, or Petrolimex, is the main bunker supplier in Vietnam; however, the firm only offers bunker avails based on its own terms and conditions which may not be suitable for the international market.

“At the end of the day, everyone can go to Petrolimex to get bunkers. However, players must understand, in this case, bunker contracts are in accordance to their own specifications,” he says.

“This is where SAB comes in, as we are able to offer flexibility in shipowners’ bunker needs such as bunker contracts on BIMCO terms, while guaranteeing avails being bought at a minimum of ISO 8217:2005 specs.”

Even though bunker contamination cases of styrene and phenol are unheard of in Vietnam, Low assures SAB is still able to arrange for lab reports on contaminants prior to bunker deliveries.

“Vietnam has a coastal line of 1,600 km and there are at least 22 major ports a vessel can lift bunkers at,” Low notes.

“We are familiar with all different Petrolimex divisions responsible for bunkering operations at these ports, and are acquainted with barge operators, surveyors, customs agencies situated within these locations as well.”

The majority of vessel receiving fuel at Vietnam consist of bulkers (at least 50%) and a ‘good mix’ of container liners and tankers.

“Most of the vessels receiving bunkers at Vietnam only for top up purposes because cargoes there are actually sourced from overseas such as Singapore and Malaysia, hence the more expensive prices, as Vietnam’s refineries are mainly producing for the domestic market,” he explains.

Low offers some brief advice for shipowners looking to bunker at Vietnam.

“Due to availability and tax issues, it is always best to arrange for bunkers five to seven days in advance,” he recommends.

“South Vietnam has 380, 180 cSt grades and MGO (marine gas oil) available. However, 380 cSt material is usually out of stock due to storage issues.

“Avails at North Vietnam are commonly 180 cSt material and MGO.”

Contact details of Steven Low and Synergy Asia Bunkering are as follows:

Steven Low
Director
Mobile: +65 9831 5557
Email: [email protected]

Synergy Asia Bunkering
420 North Bridge Road
#04-29 Singapore 188757
Email: [email protected]

Photo credit: Synergy Asia Bunkering
Published: 2 October, 2018

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

15 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

15 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

15 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