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SIBCON 2020: TR 48 reaps annual savings of at least SGD 80 million for bunkering sector

Case study found 66.3%-76.0% reduction in operation costs for bunker suppliers and shipowners in manpower savings and process efficiency.
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MFM on Marine Vicky

Editor: The following article was updated on 12 October (8pm Singapore time) to correct errors; the updated figures have been bold under the bullet points:

A case study on TR 48:2015 on Bunker Mass Flow Metering initiated by the Singapore Chemical Industry Council (on behalf of Enterprise Singapore) in April 2019 and successfully completed in February 2020 has found the standard to have improved productivity for bunkering at Singapore port.

The implementation of TR 48 resulted in annual potential net savings of between SGD 80.6 million to SGD 199.4 million for the bunkering ecosystem, including:

  • 66.3%-76.0% reduction in operation costs for bunker suppliers and shipowners in manpower savings and process efficiency.
  • 33.9%-25.6% fewer disputes between bunker suppliers and shipowners over the quantity of transferred fuel; and
  • 0.6%-2.3% increase in cost for bunker suppliers and MPA to verify the test results for mass flow meters and equipment maintenance respectively.

For bunker suppliers surveyed, it was reported that operational turnarounds have increased. A number surveyed also reported that crew could be involved in duties other than directly in the sounding of bunker tanks.

Overall cost savings for bunkering operations have reduced due to the reduction in the number of dispute resolutions as well as the time taken to resolve these resolutions account for the remainder. These are the key findings from a case study initiated by SDO@SCIC, on behalf of Enterprise Singapore and the Singapore Standards Council.

For crew management, some ship owner respondents reported that they had reduced their spot checks of their on-board fuel inventory. A number of added that inventory management had improved with the increased certainty in the quantity of bunkers received. They highlighted that the transparency arising from MPA’s strict implementation of TR 48 has increased their preference to purchase bunkers in Singapore

Data-handling benefits were seen by the Maritime and Port Authority of Singapore (MPA) which had reported significant time savings of up to 90% in the handling of bunkering data.

TR 48 has since been upgraded to a Singapore Standard, SS 648, which includes new requirements for distillate fuels and bunkers to meet IMO regulations.

TR 48 and SS 648 have since formed the basis for the development of two ISO standards on bunkering.

Led by Singapore, ISO 21562: Bunker Fuel Mass Flow Meters on Receiving Vessel – Requirements was published in July this year. ISO 22192: Bunkering of Marine Fuel Using the Coriolis Mass Flow Meter System is expected to be published by end of the year.

Comments from industry stakeholders

“The validation of the benefits of the TR 48 which was based on the ISO Methodology for the Economic benefits of standards has further strengthened Singapore’s position as a thought leader in bunkering industry standards. Though TR 48 has been revised to SS 648, there were no major changes for SS 648 so the benefits observed with TR 48 are not expected to be impacted when it replaces TR 48,” said Lee Wai Pong, Chairman, Working Committee for TR 48.

“The case study has demonstrated the transparency and system integrity that TR 48 has effected for the smooth and efficient running of bunkering operations, as well as bolstering the assurance of quantity ordered and delivered. Savings in time for bunkering processes and dispute resolution have also been experienced by a number of our members,” said Caroline Yang, President of the Singapore Shipping Association.

“The benefits of TR 48 validated through this case study would be useful when shared with the bunkering industry stakeholders outside of Singapore as the economic benefits as well as the improved efficiency, productivity and transparency demonstrated, will facilitate the implementation of the MFM system by countries who wish to adopt TR 48,” said Timothy Cosulich, CEO, Fratelli Cosulich Group and Chairman, IBIA Asia.

“The new TR 80: 2020 will further strengthen the supporting infrastructure for the MFM system while the new SS 660: 2020 will help in obtaining similar MFM system benefits further up the chain with both standards expected to assist the overseas bunkering industry as well.”

 

Photo credit: Manifold Times
Published: 7 October, 2020

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Winding up

Singapore: Heng Tong Fuels & Shipping Pte Ltd to be wound up voluntarily

Nicholas James Gronow, director of the Singapore-based bunker tanker owner, filed a statutory declaration last year for the company, stating the firm cannot continue their businesses due to its liabilities.
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June 29, 2026

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Several written resolutions for Singapore-based bunker tanker owner Heng Tong Fuels & Shipping Pte Ltd (HTFS) were approved by the sole shareholder of the company on 19 June, according to a post in the Government Gazette on Friday (26 June).

Manifold Times previously reported a director of HTFS filing a statutory declaration (SD) with the Official Receiver’s office stating that the company cannot continue its business due to its liabilities.

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

The duly passed resolutions were:

SPECIAL RESOLUTIONS:

  • That the Company be wound up voluntarily pursuant to Section 160(1)(b) of the Insolvency, Restructuring and Dissolution Act 2018 (No. 40 of 2018).
  • That the Liquidators be authorised to exercise any or all of the powers provided under Section 144(1)(b), (c), (d), (e), (f) and (g) and 144(2) of the Insolvency, Restructuring and Dissolution Act 2018 (No. 40 of 2018).
  • That the Liquidators be and are hereby authorised to distribute in cash or in specie any or all of the assets of the Company remaining after satisfaction of all debts and liabilities.

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 and are hereby appointed the joint and several Liquidators of the Company for the purpose of such winding up and that the Liquidators be indemnified by the Company against all costs, charges, losses, expenses and liabilities incurred or sustained by them in the execution and discharge of their duties in relation thereto.
  • That the remuneration of the Liquidators be based on their normal scale rates for carrying out the engagement plus disbursements and the prevailing goods-and-services tax and that the Liquidators’ remuneration be paid out of the assets of the Company.

In another notice, the liquidators of Heng Tong Fuels & Shipping said creditors for the company are required on or before the 27 July to send in their names and addresses and particulars of their debts or claims, and the names and addresses of their solicitors (if any) to the liquidators. 

Liquidators may also require creditors to, “come in and prove their debts or claims at such time and place as shall be specified in such notice, or in default thereof they will be excluded from the benefit of any distribution made before such debts are proved.”

The liquidators can be contacted at the following address:

WONG PHENG CHEONG MARTIN
KOAY MAY YEE
JOINT AND SEVERAL LIQUIDATORS
of FTI Consulting (Singapore) Pte. Ltd.
One Raffles Quay
#27-10 South Tower
Singapore 048583

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: Benjamin child
Published: 29 June, 2026

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Incident

MPA ‘deeply concerned’ over projectile strike on Singapore-registered ship in Hormuz Strait

Container ship “Ever Lovely” sustained minor damage to the bridge area from an unknown projectile while leaving the Strait of Hormuz on 25 June at about 10pm (Singapore Time).
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Container ship “Ever Lovely”

The Maritime and Port Authority of Singapore (MPA) on Friday (26 June) said the Singapore-registered container ship Ever Lovely sustained minor damage to the bridge area from an unknown projectile while leaving the Strait of Hormuz on 25 June at about 10pm (Singapore Time). 

The vessel has since completed its transit through the Strait of Hormuz and is proceeding on its voyage.

“All 21 crew members are safe. There are no Singaporeans onboard,” MPA said in a statement. 

MPA said it will continue to remain in close contact with the vessel’s management company and provide the necessary assistance.

“MPA is deeply concerned about the incident, which was unprovoked, unjustifiable, and a breach of international law,” it added.

“All actions affecting international shipping must fully comply with international law, in particular the United Nations Convention on the Law of the Sea, and not endanger the safety of seafarers and ships at sea.”

 

Photo credit: MarineTraffic / Michael Schindler
Published: 29 June, 2026

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Bunker Fuel

Singapore: MaritimeONE Case Summit 2026 spotlights bunkering, decarbonisation challenges

This year’s challenge statements focus on maritime logistics optimisation, carbon emissions reduction, energy security and bunkering decision-making amid geopolitical uncertainty.
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June 29, 2026

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Singapore: MaritimeONE Case Summit 2026 spotlights bunkering, decarbonisation challenges

The Singapore Maritime Foundation (SMF) recently launched the 7th edition of the MaritimeONE Case Summit, in partnership with industry sponsors. 

Through this annual case competition, students from Singapore’s universities and polytechnics will apply their knowledge to respond to some of the maritime industry’s most pressing challenges, hone teamwork and cross-disciplinary skills, and build professional networks. 

Supported by industry sponsors AET, MSC Mediterranean Shipping Company, Petredec Global and Pacific International Lines (PIL), this year’s challenge statements focus on maritime logistics optimisation, carbon emissions reduction, energy security and bunkering decision-making amid geopolitical uncertainty.

Registration for the competition runs from 24 June to 27 July, with the proof-of-concept submission due 12 August.

Students are invited to form teams of two to four, select one of four challenge statements to work on, and register by the application deadline. Participating teams will then submit a Proof-of-Concept for evaluation. Following the assessment round, shortlisted finalist teams will be mentored to refine their solutions in preparation for the Closed-Door Judging. Winners will be announced at the Award Ceremony on 23 October 2026.

“The four challenge statements this year reflect key issues that the maritime industry is navigating today. These span environment, social and governance (ESG), energy security, and technology to augment decision-making. I thank AET, MSC, Petredec Global and PIL for putting forward challenges that give students hands-on opportunities to address practical industry issues with rigour and imagination. Such exposures will equip the students better when they join the maritime industry,” said Mr. Hor Weng Yew, Chairman, SMF.

Note: Registration of the competition and more details on the challenge statements can be found here. 

 

Photo credit: Singapore Maritime Foundation
Published: 29 June, 2026

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