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Singapore: Seabridge Bunkering continues ops after ‘amicable settlement’ with ING bank

Bilsea Group management planning to keep bunker trade business at ‘comfortable level’ in consideration of current poor freight market and high oil market volatility.

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Singapore-based marine fuels trading firm Seabridge Bunkering Pte Ltd (Seabridge), a subsidiary of the Bilsea Group, is continuing operations as per normal after reaching an “amicable settlement” agreement with ING Bank due to an earlier exposure to O.W Bunker, shares its Managing Director.

“We reached a five-digit settlement sum with ING Bank outside court in February 2020,” Yan Xiankai, who is also the Managing Director of the Bilsea Group, told Singapore bunkering publication Manifold Times.

“Seabridge, as a well-established name in ship bunkering market, has survived after numerous crisis including the O.W. bunker case.

“Our company will continue to serve its customers like before and the business will be maintained at a reasonable scale.”

Yan noted Seabridge being currently involved with both cash in advance and credit term basis trading operations in order to maximise profit margin, while limited credit is still available from reliable partners and for its customers passing its strict credit control policy.

“For the past two decades, the stakeholders of Seabridge have diversified its business to ship chartering as ship operator, asphalt commodity trading while being a ship owner and commercial manager of asphalt tankers,” he says.

“We are also involved in crude oil futures trading, fuel oil paper trade, property investment and a few others.

“Overall, our business is financially healthy and strong even though Seabridge, which forms only part of its stakeholder’s interest, is affected.”

Moving forward, Yan notes of the Bilsea Group management planning to keep its bunker trade business at a “comfortable level” in consideration of the current poor freight market and high volatility of the oil market.

“After O.W. Bunker’s bankruptcy, there have been a few more oil companies which have been shut down in recent years due to failure of risk management,” he shares.

“Nevertheless, players involved in back-to-back bunker trades will find it more and more competitive.

“Seabridge will keep trying to rebuild its business model in the direction of integrated trading while not foregoing the necessary mechanism for proper risk control; such as by hedging when engaged in bunker trade deals.”

He also stressed the importance of building business networks to sustainably connect products and customers through employed staff and integrated trading practise.

“Seabridge stakeholders in the long run will continuously build the business model under its own ecosystem environment, whether for our established business (www.bilseagroup.com) or for new ventures (www.unimex.org),” ends Yan.

Seabridge 4

The Seabridge Bunkering team

Related: ING Bank seeks approximately USD 113,600 from Seabridge Bunkering
Related: Seabridge Bunkering Pte Ltd under winding up application from creditor ING Bank

 

Photo credit: Seabridge Bunkering
Published: 24 August, 2020

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China: Yangpu records 27% on year increase in bunkering volumes from Jan to May

Latest bunker supplier at Yangpu port is Hainan Luhai Energy which received a license from the Danzhou Municipal People’s Government in April 2025.

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The Port of Yangpu located in Hainan Island recorded a 27% on year increase in bonded bunkering volume for the period between January to May 2025 due to local government initiatives, according to Danzhou Municipal People’s Government on 5 July.

During the five-month period, the port supplied 149,400 metric tonnes (mt) of bunker fuel to 288 international vessels, compared to 117,400 mt of marine fuel to 278 ships in the year before.

Explaining the 2025 figures, the government pointed out 145,400 mt of bonded bunker fuel to 275 vessels were delivered by bunkering firms under national licenses, while 4,000 mt of bonded marine fuel were sent by bunkering companies under Hainan licenses.

To date, there are four bunker suppliers operating at Yangpu port. The latest to join is Luhai Energy Technology Development (Hainan) Co., Ltd (陆海能源科技发展(海南)有限公司) which received a license from the Danzhou Municipal People’s Government in April 2025.

“In the future, we will continue to work hard to continuously optimise the bonded oil refuelling service system, increase policy publicity and promotion efforts, attract more bonded oil refuelling companies to settle in Yangpu, and continuously expand the scale of business, and promote the implementation of the bonded oil refuelling policy,” stated Li Leiming, a mid-level employee of the Yangpu Investment Promotion Bureau.

 

Photo credit: Chuanhaozi under Creative Commons Licences
Published: 14 July 2025

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Singapore retains ranking as world’s top maritime centre for 12th consecutive year

Finds report jointly published by the Baltic Exchange and China’s Xinhua News Agency.

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Singapore on Friday (11 July) said it has retained its ranking as the world’s top maritime centre, marking the 12th consecutive year it has led the Xinhua-Baltic International Shipping Centre Development (ISCD) Index.

Jointly published by the Baltic Exchange and China’s Xinhua News Agency, the Xinhua-Baltic ISCD Index provides an independent benchmarking of the world’s leading maritime hubs.

It evaluates factors such as cargo throughput, port infrastructure, maritime services (including finance, law and shipbroking), and the overall business environment.

The index is closely monitored by shipping lines, port investors, and maritime service providers to track market competitiveness, and inform investment location and service development decisions.

Singapore retained its top position among 43 maritime cities and regions, underpinned by its consistent performance as one of the world’s busiest transhipment and bunkering hubs, and a well-established ecosystem of professional maritime services and expertise.

In 2024, Singapore handled 41.12 million twenty-foot equivalent units (TEUs) in container throughput – a record high – and saw total vessel arrival tonnage exceed 3 billion gross tons. The Port of Singapore also remains the world’s largest bunkering port, having supplied 54.92 million tonnes of marine fuel in 2024.

Home to more than 200 international shipping groups and a growing number of maritime technology start-ups, Singapore continues to strengthen its position as a global node for maritime innovation and enterprise.

This growing industry base is also creating new career pathways in areas such as port operations, digital systems management, automation, maritime law, and sustainability – as the sector transforms to meet the needs of a more digital and decarbonised future.

“We thank our industry partners, the research and enterprise community, and our unions who have been instrumental in Singapore’s journey to become a leading international maritime centre and global hub port,” said Ang Wee Keong, Chief Executive of the Maritime and Port Authority of Singapore.

“We will continue to build on this momentum by innovating and investing in digitalisation, green technologies, and workforce development to strengthen Singapore’s position as a trusted and future-ready international maritime centre.”

 

Photo credit: Manifold Times
Published: 14 July 2025

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“LNG London” marks 1,000 safe LNG bunkering ops in Rotterdam and Antwerp

Milestone is a tribute to the technical expertise and steadfast dedication of LNG London’s team, states Victrol.

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The LNG London, a liquefied natural gas (LNG) bunkering vessel chartered by Shell, owned by LNG Shipping, and operated by Victrol recently completed over 1,000 safe LNG bunkering operations across the ports of Rotterdam and Antwerp.

“This landmark achievement underscores LNG London’s unwavering commitment to safety, reliability, and environmental stewardship as LNG rises to prominence as a lower-emission marine fuel compared to conventional fuel oil,” stated Victrol on Friday (11 July) over a LinkedIn update.

“With this milestone, LNG London reaffirms its pioneering role in promoting sustainable, lower-emission bunkering throughout the Amsterdam–Rotterdam–Antwerp (ARA) hub.”

Launched in June 2019, LNG London has a capacity of 3,000 m³, spans 110 m in length, and navigates inland waterways with ease—facilitating efficient LNG supply to both seagoing vessels and barges offshore-energy.

Victrol as the vessel’s operator, emphasises the outstanding performance of the crew and the vessel’s robust design. Built with stringent safety specifications, LNG London strives to maintain high operational standards. This milestone is a tribute to the team’s technical expertise and steadfast dedication.

Building on the good work of LNG London, Shell had also enhanced its bunkering network with the larger Energy Stockholm, an 8,000 m³ bunker vessel, now operating in Antwerp, Rotterdam, Zeebrugge, and Amsterdam.

Related: Europe: ‘LNG London’ bunkering vessel starts operations at Rotterdam
Related: “LNG London” conducts first ship-to-ship LNG bunkering operation at Rotterdam
Related: Bureau Veritas classifies Europe’s largest inland waterway LNG bunker barge
Related: Europe’s largest LNG bunkering barge on maiden voyage to ARA
Related: Shell takes delivery of Europe’s largest inland LNG bunkering vessel

 

Photo credit: Victrol
Published: 14 July 2025

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