Singapore-based Ocean Bunkering Services Pte Ltd (OBS), an affiliated company of oil company Hin Leong Trading Pte Ltd., has allegedly told some customers it would halt the delivery of marine fuel as soon as Friday (17 April), reported Reuters on Thursday.
The information came from three bunker traders having commercial arrangements with OBS, it noted.
Hin Leong Trading, meanwhile, is reportedly in talks with banks to extend its credit. The company was lately in the news due to a debt restructuring exercise due to at least two banks blocking short term credit facilities.
The CEO of Singapore-based energy transportation firm Ocean Tankers (Pte) Ltd on Wednesday issued a letter to the maritime industry stating its intention to still continue business as usual amidst the debt restructuring of affiliated oil company Hin Leong Trading Pte Ltd.
Follow the past development of events here:
Related: Hin Leong in debt restructuring exercise; Ocean Tankers a separate entity, says CEO
Related: Report: Hin Leong Trading finances under scrutiny, amid credit pull from two banks
Photo credit: Manifold Times
Published: 17 April, 2020
Environmental and safety considerations, along with technology developments and crew training are all parts of the picture on a holistic approach to safe decarbonisation, says IBIA.
Adds northwest Europe, New York Harbor, and US Gulf coast bunker price assessments to portfolio.
The Florence B replaces the Spabunker 61 to increase bunkering capacity at the location.
COVID-19 measures had no significant impact on the Russian bunker market as most bunkering companies were running normally, says Argus Media.
Total bunker sales were 528,572 mt in August 2019, compared to sales of 348,664 mt during August 2018.
“VPS is here to provide valuable advice on the optimisation of engine performance, asset protection and the reduction of GHG emissions,” it states.
Transferred shares of 40 subsidiaries to BVI firm after tribunal awarded claims in favour of Trinity Seatrading; YSPL has also filed a civil complaint against DNV and Liberian ship registry at Nanjing Maritime Court.
ADNOC L&S, Gulf Energy Maritime, Cockett Marine Oil, Mideast/Bahri Ship Management and VPS experts present their views on biofuel bunker hurdles at the VPS Biofuels Seminar in Dubai on 16 March.
‘Bunker barges operate in very local areas so these vessels call at port very often which means it will be a good fit for women with families,’ states Elpi Petraki, President of WISTA International.
“Our Singapore branch is under preparation and is expected to start business at the republic before June 2023,” Managing Director Darcy Wong tells bunkering publication Manifold Times in an interview.
Development to supply B35 biodiesel blend officially takes effect on 1 February; local bunker suppliers will be able to deliver updated spec within March onwards, once current stocks of B30 avails run out.
VPS, Global Centre for Maritime Decarbonisation, Wilhelmsen Ship Management, and INTERTANKO executives offered a multitude of perspectives to 73 attendees during the VPS Biofuels Seminar, reports Manifold Times.
