Vitol Marine Fuels Pte Ltd, a subsidiary of the Vitol Group, has acquired 100% of Singapore-based bunkering firm Sinanju Tankers Holdings Pte Ltd (Sinanju), it said on Wednesday (1 April).
The Singapore Bunkering license holding entity, namely Sinanju Marine Services Pte Ltd, has been renamed Vitol Bunkers (S) Pte Ltd and from 1 April 2020 all bunker deliveries will be carried out by Vitol Bunkers (S) Pte Ltd.
The transaction also comprises of Sinanju’s fleet of 15 modern Singapore-flagged bunker tankers, including Singapore’s first and currently only liquefied natural gas (LNG) powered dual fuel bunker tanker Marine Vicky.
“With the acquired entity’s valuable expertise in bunker tanker operations and Vitol’s existing strength on the bunker oil supply side, Vitol Bunkers will be in a strong position to provide a high quality, seamless ‘end to end’ delivered bunker supply service in Singapore and internationally,” said Dato’ Kho Hui Meng, President and CEO of Vitol Asia.
Vitol Bunkers and its related companies will continue to operate as before, but under the Vitol brand.
Sinanju was the 14th largest bunker supplier by volume at Singapore port in 2019.
Related: Photo Essay: “Marine Vicky” in multi-agency emergency preparedness exercise at Singapore port
Related: Exclusive: Singapore top bunker suppliers reveal estimated sales volume for 2019
Photo credit: Manifold Times
Published: 1 April, 2020
Development indicates China Shipbuilding Power Group is becoming more mature in production of super-large WinGD X series dual-fuel main engines, says CSSC.
In total, 4.3 million mt of various marine fuels were sold at the world’s largest bunkering port in April, an increase from 4.11 million mt recorded for April 2020.
Plans to expand its outer port limit bunkering service to Guyana/Suriname, says Bunkering Manager.
‘It is not true that the Indonesian navy received or asked for payment to release the ships,’ says Indonesian naval fleet commander for the region.
Policy will cover the difference between the agreed price and the higher price, paid out monthly, to help companies manage their fuel cost exposure, it said.
‘To this end, the Bank has shown there are grounds for suspecting the CIA Contract may be a sham / fake contract and/or was not performed,’ said CMB’s submission to the Singapore court.
‘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.
