Singapore-based oil trading firm Zenrock Commodities Trading is prepared to wind down its business and its employees in offices across Singapore and China are prepared to leave by August, reports The Business Times.
As earlier reported by Manifold Times, Zenrock has agreed to be placed under judicial management, after HSBC accused the company of fraud and has since been scheduled for a hearing at 10 am on Monday, 13 July.
In HSBC’s court filing, the bank reportedly has an exposure of almost USS 49 million to Zenrock; the trading firm owes more than USD 166 million to six creditors as of April 17.
Photo credit: Manifold Times
Published: 8 August, 2020
Argentinian Coast Guard now requires all vessels bunkering at Zona Comun to arrange for an ORSO to respond to any oil spillage within 60 minutes of occurrence.
Development due to low spot availability of HSFO and 0.5% sulphur LSFO products; no issues with MGO avails.
Development principally related to impact of global oil prices resulting in a constrained credit environment for the bunkering sector.
“VPS is here to provide valuable advice on the optimisation of engine performance, asset protection and the reduction of GHG emissions,” it states.
CLEANCOR, a subsidiary of SEACOR, will work with Port NOLA to help provide LNG to Port customers and marine operators in Port NOLA’s jurisdiction.
Named Sakura Leader, the vessel was ordered by Shin-Kurushima Dock Co and is already engaged for service, including vehicles for Toyota Motor Corporation.
‘This biofuel bunker delivery represents a new chapter for Eng Hua as we are now moving with the times towards the era of decarbonisation,’ Mike Sin, Director at Eng Hua, tells bunkering publication Manifold Times.
MPA has also asked Glencore to improve its internal procedures to ensure that prompt action is taken in future when it becomes aware of, or reasonably suspects, any irregularity in fuel quality, it states.
Dynamic Asset Investments Limited and Goldsland Holdings Co Ltd helped Vermont UM Bunkering maintain a “Cash Float” of about SGD 100,000 to facilitate “buyback” bunker transactions at Singapore port.
Senior Cargo Officer gained SGD 48,800 worth of commission from “buyback” bunker transactions and illegally obtained SGD 410,712.257 by cheating Vermont, a Singapore court heard on Thursday (21 July).
Firm hopes to leverage partnership in Greece as a springboard to expand into neighbouring and overseas markets including Europe and China, says Robin Van Elderen, Regional Head Bunkers, Europe, Sing Fuels.
Singapore can help less developed countries in SouthEast Asia through ‘piloting and scaling fuels and technology as well as a leading hub for green finance’, said DNV Group President and CEO Remi Eriksen.
