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Marine fuel consultants explain Singapore’s 10.8% on year bunker sales increase in April

April bunker sales results released on Wednesday caught several players, who expected volume to fall due to lower international trade and COVID-19, by surprise.
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Manifold Times Bunkering Vessels

April’s 10.8% on year rise of bunker sales at Singapore port was a surprise to many, who expected the month’s volume at the republic to fall due to lower international trades and the Coronavirus Disease 2019 (COVID-19) pandemic.

Singapore bunkering publication Manifold Times took to the occasion and approached local marine fuel consultancies Azure Strategic Resources and SDE International to shed light about the development.

Dennis Ho, Director & Founder of Azure Strategic Resources, explained Singapore’s total bunker volume in April 2019 was firstly at a low of 3.7 million mt – a low base when compared to the 4.1 million mt of bunker sales at Singapore in April 2020, which is largely in line with the average monthly volume of 4 million mt within the past two years.

“Quite a fair amount of supplies was fixed on a contract basis prior to the start of IMO 2020 implementation on 1 January. It is possible that these contracts are still being fulfilled,” he adds.

“The Singapore increase in volume may also come at the expense of other smaller ports where supply of 0.5% sulphur compliant fuel may not be reliable. In fact, other major ports like Rotterdam and Zhoushan have been reporting healthy demand.

“Traders and buyers which I talked to commented their April demand was largely unchanged and in fact saw a pick up towards end April.  This is likely due to the steep correction in prices following the negative crude oil price seen on 19 April.

“The same traders and buyers commented May looking to be a slow month. A buyer expects he may only be able to fulfil the lower end of his buying commitment.”

Simon Neo, Executive Director at marine fuels consultancy SDE International, notes current market conditions have resulted in prices of bunker fuel at Singapore port being lower when compared to the similar period a year before.

The total number of vessel arrivals at Singapore port was 7,015 in April 2020 (37.6% lower on year) while container and cargo throughput both respectively fell 5% and 12.6% on year, according to Maritime and Port Authority of Singapore (MPA) data.

“The drop in the number of vessel arrivals, container and cargo throughput clearly shows trade volume to be down,” said Neo.

“However, the increase in bunker volume is more due to the fact that oil prices are very low now. This generates more buying interest as nobody knows when for sure, how long this low oil price will last.

“Instead of topping up 500 or 600 mt, ship owners may now be incentivised take up to 1,000 mt or 1,500 mt.

“The other factor of what Dennis said is quite true, as a lot of ship owners have entered into pre-signed contracts before IMO 2020 due to worries about the availability and quality of VLSFO around the region.

“Singapore is the premier bunkering port which is very well regulated, and supported by a highly respected bunkering standard backed by the use of mass flowmeters for the custody transfer of marine fuel.

“This encourages more ship owners to take up products in Singapore as there is accountability involved and they will all know who to approach if anything goes wrong.”

Singapore’s bunker fuel sales volume was release by MPA on Wednesday (13 May).

A total 4.11 million metric tonnes (mt) (exact: 4,113,700 mt) of bunkers was sold at the port in April, 10.8% more than 3.71 million mt (exact: 3,712,100 mt) posted during April 2019.

Deliveries of 500 centistokes (cSt), 380 cSt and 180 cSt grades in April 2020 (against on year), were respectively 78,400 mt (-88.7% from 691,900 mt), 692,800 mt (-73.5% from 2.61 million mt), while 180 cSt product recorded no sales (-100% from 24,000 mt).

Low sulphur 500 cSt, 380 cSt and 180 cSt products respectively recorded no sales (similarly compared to zero sales in 2019), 2.15 million mt (significantly up from 16,400 mt), and 111,100 mt (+194.7% from 37,700 mt).

The latest data introduced new categories, namely low sulphur 100 cSt, and ULSFO respectively recorded 597,800 mt and 66,700 mt of sales in April.

Low sulphur marine gas oil (LS MGO) sales were posted at 372,600 mt (+89.5% from 196,600 mt) and MGO at 48,400 mt (-31.9% from 71,100 mt).

Related: Singapore: March 2020 bunker fuel sales rise 5.7% on year
Related: Singapore: February 2020 bunker sales volume up 2.5% on year
Related: Singapore: January 2020 bunker sales volume up 7.5% on year

 

Photo credit: Manifold Times
Published: 14 May, 2020

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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.

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July 21, 2026

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RESIZED Sora Shimazaki on Pexels

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.

Related: Singapore: Hin Leong Founder OK Lim gets jail term slashed to 13.5 years

 

Photo credit: Sora Shimazaki
Published: 21 July, 2026

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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.

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July 21, 2026

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RESIZED Drew Beamer

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.

Related: Singapore: Director declares Heng Tong Fuels & Shipping’s inability to continue business
Related: Heng Tong Fuels & Shipping in court over DBS Bank bunker tanker loan
Related: Singapore: Bunker tanker “Coastal Neptune” arrested
Related: Heng Tong Fuels & Shipping, Coastal Logistics tankers enter S&P market

 

Photo credit: Drew Beamer
Published: 21 July, 2026

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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.

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July 21, 2026

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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

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