The Maritime and Port Authority of Singapore (MPA) has suspended the bunker supplier license of Ocean Bunkering Services Pte Ltd (OBS), a subsidiary of the collapsed Hin Leong Trading as it can no longer meet the qualifying prerequisites to hold the license, reports Reuters.
“Given that OBS has stopped its bunkering operations since April this year and has not been able to fulfil its licensing commitment to date, MPA has suspended their bunkering licenses until further notice,” said the MPA as quoted by Reuters.
OBS ceased bunker fuel deliveries in April following a credit pull experienced by an embattled Hin Leong due to debts of up to USD 3.85 billion.
In early October, the judicial managers for Hin Leong, PricewaterhouseCoopers had published a notice for an “investment opportunity in an independent bunker fuel and lubricant supplier in Singapore”.
Related: PwC publishes ‘investment opportunity’ for Singapore independent bunker fuel supplier
Photo credit: Manifold Times
Published: 20 October, 2020
Total bunker sales amounted to 430,583 mt in June 2019, compared to sales of 362,142 mt in June 2018.
Sales of low-sulphur fuels, including LSFO and MGO LS, rose by 51% month-on-month in December to 3,127 kilo mt, compared to the 1,271 kilo mt of HSFO sold in the same month.
Vessel did not have enough documents proving legal origin of 100,000 litres of DO oil, it said in a statement.
Finnlines alleged Ostsee Mineralöl-Bunker abused ‘dominant position’ in Rostock bunker market.
3.78 million mt of marine fuel were sold at the port in Feb 2019, compared to 4.14 million mt last year.
Singapore, Northwest Europe, and Mediterranean ports first to receive compliant fuels.
‘We need to keep in mind the saying “penny wise pound foolish”,’ says Captain Rahul Choudhuri, the Managing Director AMEA at VPS, who stresses on the essential role of the Bunker Surveyor.
Legal representatives met at the High Court on Tuesday to discuss the discharge of KPMG liquidators from all liability in respect of conduct in the course of winding up, show court documents.
Global sentence adjusts to 80 month’s imprisonment term for both Chang and Koh under application of the Masui sentencing framework; fine of SGD 6.2 million against Chang remains unchanged.
Company has been ranked EIGHTH for 2020; ‘we are humbled and proud to be placed amongst the top ten winners of the Enterprise 50 Awards,’ says Satnam Singh, COO, Sing Fuels.
Mads Bjornebye, Manager of Bunker Services at Teekay Tankers Ltd, shares about the company’s perspective of e-BDNs, bunker purchasing & planning tools, while offering his thoughts on future marine fuels.
Maritime sector may find it increasingly challenging to manage bunker prices, Dennis Ho, Managing Director at ElbOil Singapore tells Singapore bunkering publication Manifold Times.
