Business

Trefoil appoints Inatech to cope with Dutch ‘double whammy’ of IMO2020 risks

Faced with higher risks resulting from IMO2020 and new stringent audit regulations, Trefoil seeks fully integrated system solution to maximise efficiency.

Published

6 years ago

February 14, 2020

Admin

Rotterdam, Antwerp and Hamburg bunker supplier Trefoil on Tuesday (11 February) said it has authorised Inatech, a provider of Cloud ETRM & Fuel Management Software, to overhaul its management systems in the face of new Customs rules that further complicate the region’s bunker business after IMO 2020.

Post IMO 2020, the speed of business and the scale of risk has gone up. Quicker decision making on market risk management and better operational planning to cope with changing demand is required. To add to this potent mix, new customs regulations in the Amsterdam, Rotterdam and Hamburg region demand a more robust audit trail of product movement.

“This double whammy of market risk and regulatory risk has prompted Trefoil to rethink our entire operating system and to invest in maximizing our efficiency in dealing with these challenges,” says Max Braams, Strategic Project Manager at Trefoil in Rotterdam.

“This also allowed us to consolidate all of our IT systems onto one platform as Inatech is not only supporting a CTRM but a fully integrated solution from front to back office including ERP and accounting. We are looking forward to a new era that will reduce our manual work and error-proneness significantly.”

Trefoil assigned Inatech to deploy its end-to-end bunker management system, Bunkertech. It saves time and cost for Trefoil’s operations while supporting rapid decision-making in a more complex environment by providing a holistic view of operations across trading, credit, cash flow and inventory together with real-time information about products, prices and availability, and P&L.

The new Customs rules have a material impact on operational planning and ultimately the cost structure. With a wider range of fuels available and strict compliance procedures, it has become critical for bunker suppliers to have systems in place that track the molecule.

“The new Dutch regulations coupled with IMO 2020 have undoubtedly increased all kinds of risks – price risk, operational risk, market risk, product risk and financial risk,” said Alok Sharma, Senior Vice President at Inatech in London.

“Bunkertech, a part of our Techoil oil trading platform, is one of the few cloud based end-to-end systems which can help the business manage risks and ultimately maximise gross profit per ton.”

Photo credit: Trefoil
Published: 14 February, 2020

Legal

Singapore withdraws remaining 127 charges against Hin Leong founder OK Lim

Lim Oon Kuin, also known as OK Lim, was issued a stern warning and a district court granted him a discharge amounting to an acquittal for these charges on 17 July.

Published

12 hours ago

July 21, 2026

Admin

Founder of collapsed oil trader Hin Leong Trading, Lim Oon Kuin, also known as OK Lim, has had the remaining 127 charges against him withdrawn, according to The Straits Times on Monday (20 July).

OK Lim was issued a stern warning and a district court granted him a discharge amounting to an acquittal for these charges, including those for cheating, on 17 July. The discharge means Lim cannot be prosecuted again for the same offences.

Lim, 84, is currently serving a 13½-year prison sentence after the High Court reduced his original 17½-year jail term in March 2026. He was convicted in 2024 on two cheating charges and one count of abetting forgery in a case prosecutors described as one of Singapore’s most serious trade finance frauds.

Lim was convicted in May 2024 of two charges of cheating the Hongkong and Shanghai Banking Corporation (HSBC) and one count of abetting forgery that proceeded to trial out of a total of 130 criminal charges.

He was first charged in court on 14 August 2020, and was subsequently handed further charges in court on 25 September 2020, 30 April 2021 and 24 June 2021 for his role in perpetuating fraud on various financial institutions.

A total of 130 charges were eventually brought against him for cheating and forgery-related offences.

Photo credit: Sora Shimazaki
Published: 21 July, 2026

Winding up

Singapore: Coastal Logistics Pte Ltd to be wound up voluntarily

Coastal Logistics was reportedly affiliated with troubled Singapore bunker player Coastal Oil (Singapore) Pte Ltd.

Published

13 hours ago

July 21, 2026

Admin

Several resolutions for Coastal Logistics Pte Ltd were made during an extraordinary general meeting held on 14 July, according to a notice in the Government Gazette on Friday (4 July).

The following resolutions were duly passed during the meeting:

As Special Resolution

That it has been proved to the satisfaction of the meeting that the Company cannot by reason of its liabilities continue its business and accordingly the Company be wound up voluntarily pursuant to Section 160(1)(b) of the Insolvency, Restructuring and Dissolution Act 2018 (No. 40 of 2018);

As Ordinary Resolutions

that Mr. Wong Pheng Cheong Martin and Ms. Koay May Yee, both care of FTI Consulting (Singapore) Pte Ltd, One Raffles Quay, #27-10 South Tower, Singapore 048583 be appointed as the joint and several Liquidators of the Company for the purpose of such winding up; and
that the Liquidators be at liberty to open, maintain and operate any bank account(s) or account(s) for monies received by them as Liquidators with such bank(s) as they deem fit; and
that a Committee of Inspection will not be formed.

Manifold Times previously reported Nicholas James Gronow, director of Heng Tong Fuels & Shipping and Coastal Logistics, filed statutory declarations for both companies stating the firms cannot continue their businesses due to liabilities.

Both companies were reportedly affiliated with troubled Singapore bunker player Coastal Oil (Singapore) Pte Ltd.

In 2019, several vessels owned by both firms entered the sale & purchase (S&P) market in Singapore.

Photo credit: Drew Beamer
Published: 21 July, 2026

LNG Bunkering

PIL’s LNG dual-fuel boxship “Kota Elok” arrives in Singapore on maiden call

As the first of 13 new 13,000 TEU vessels joining its fleet, Kota Elok is equipped to operate on LNG and low-sulphur fuel oil that helps reduce our greenhouse gas emissions.

Published

13 hours ago

July 21, 2026

Admin

PIL's LNG dual-fuel boxship “Kota Elok” arrives in Singapore on maiden call

Singapore-based Pacific International Lines Pte Ltd on Monday (20 July) said its first 13,000 TEU LNG dual-fuel container vessel, Kota Elok, recently made her maiden call to Singapore on 15 July.

As the first of 13 new 13,000 TEU vessels joining its fleet, Kota Elok is equipped to operate on liquefied natural gas (LNG) and low-sulphur fuel oil that helps reduce our greenhouse gas emissions.

The vessel also incorporated energy-saving features and digital technologies to reduce fuel consumption and enhance operational performance, as well as a bow windshield to improve aerodynamics, contributing to improved fuel efficiency and lower emissions over the course of long-haul voyages.

“Following Singapore, Kota Elok will continue her voyage on our East Coast Service 1 (ES1) route to South America, calling at ports in Brazil, Uruguay, and Argentina before returning to Asia,” the company said in a social media post.

Kota Elok also became PIL’s first vessel to receive Lloyd’s Register certification for compliance with the IACS UR E26 and UR E27 cyber security requirements.

Developed by the International Association of Classification Societies (IACS), UR E26 and UR E27 are mandatory cyber resilience requirements for newbuild vessels contracted from 1 July 2024.

Photo credit: Pacific International Lines
Published: 21 July, 2026