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Singapore: Toyota Tsusho Petroleum drops main barge operator, maintains bunker trading desk operations

09 Feb 2022

Toyota Tsusho Petroleum, a licensed bunker supplier operating at the Port of Singapore, has recently dropped Millennium Oil Pte Ltd. as its main barge operator, learns Singapore bunkering publication Manifold Times.

“Toyota Tsusho Petroleum stopped working with Millennium Oil two weeks ago [in the week ended 31 January] due to a re-evaluation of internal company policies,” said an industry observer on Tuesday (8 February).

He declined to reveal his identity due to sensitivity of the issue, but clarified the bunker trading desk of Toyota Tsusho Petroleum continues to remain in operation.

“The company is currently evaluating on the use of other barge operators at Singapore for deliveries,” he adds.

The official website of Millennium Oil lists Toyota Tsusho Petroleum, Sinopec Singapore, and NewOcean as its main partners.

A check with Singapore’s Accounting and Corporate Regulatory Authority (ACRA) on Tuesday (8 February) lists Millennium Oil as a ‘Live Company’; the firm did not offer a response when contacted by Manifold Times.

Toyota Tsusho Petroleum was ranked the 22nd bunker supplier (by volume) at Singapore port for 2021.

Related: Exclusive: Estimated marine fuel sales figures of Singapore top 10 bunker suppliers by volume in 2021

 

Photo credit: Manifold Times
Published: 9 February, 2022

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