Business

Singapore: Earlier court judgement between Hanwa and Harley Marine discharged

Hanwa obtained judgement following an “Emergency Arbitration” application on 18 July 2018 to prevent the risk of dissipation by the former Singapore-based bunkering firms.

Published

6 years ago

April 7, 2020

Admin

A High Court of the Republic of Singapore judgement to prevent the risk of dissipation by former Singapore-based bunkering firm Harley Marine Asia (HMA) and holding company Harley Marine International Holdings (HMIH) has been discharged on 16 March 2020.

Japanese trading company Hanwa Co., Ltd (Hanwa) obtained the judgement through the Singapore International Arbitration Centre (SIAC) following an Emergency Arbitration application on 18 July 2018, showed court documents obtained by Manifold Times.

The judgement ordered HMA and HMIH not to remove company assets from Singapore, including bunker tanker Ocean Pioneer, up to the value of USD 2 million.

Background

In 2017, Hanwa, HMA and HMIH made arrangements to develop a bunkering business at Singapore port; this included interest payments from a loan agreement of USD 2 million from Hanwa to HMA guaranteed by HMIH.

However, HMA was unable to meet the Maritime and Port Authority of Singapore (MPA) requirement for the Bunker Supplier License and Bunker Craft Operator License which included achieving a minimum volume of marine gas oil (MGO) sales and the ownership or charter of a liquefied natural gas (LNG) dual fuelled vessel in 2018 or earlier.

The development led to MPA notifying HMA on 26 January 2018 that both licenses will not be renewed when they expire on 31 January 2018.

A personal appeal by Harley Vincent Franco, the owner of Harley Marine Group, led to MPA not renewing the Bunker Supplier License of HMA; the Bunker Craft Operator License still remains.

This negatively affected the bunkering business of HMA, leading to a note of default to Hanwa on 27 February 2018.

HMA did not pay Hanwa the USD 2 million loan agreement’s first interest payment of USD 30,116 on 13 February 2018 and the second interest payment of USD 39,077 by 30 June 2018.

Hanwa, fearing the risk of dissipation, claimed HMA and HMIH: “Were trying to avoid having to fulfil their payment obligations”.

It noted HMA and HMIH winding down their business in Singapore from late 2017 where the firms vacated their office premises and terminated employment contracts.

Both firms also ended secondments of Hanwa staff due to continue work throughout 2018, while marketing the sale of Ocean Pioneer. The bunker tanker is registered under Sea Samara Pte Ltd, a subsidiary of HMIH.

A HMA representative explained to the SIAC Arbitrator the decision to reduce overheads and cost were “steps taken in the ordinary course of business” to ensure operations continue and obligations are met.

However, the plan to sell the Ocean Pioneer, which the Bunker Craft Operator License of HMA still depends on “might amount to an evidence of a risk of dissipation”, considered the Arbitrator.

He further observed a “Lack of Candour” by HMA and HMIH as advertisement for the sale of Ocean Pioneer sale was only known to Hanwa from third parties, though the HMA representative also said the firm was prepared to place proceeds of the sale in an escrow account.

“However, it appears that any such escrow offer to Claimant must have been made after Claimant became aware of the sale efforts, not directly from Respondents, but through third parties,” stated the Arbitrator.

“This gives the sales attempts a somewhat covert character. Such sale attempts without notice to Claimant, especially the one in February 2018, do amount to solid evidence of conduct that might suggest a real risk of dissipation.”

A check by Manifold Times on Tuesday at the Singapore Accounting and Corporate Regulatory Authority (ACRA) found both HMA and HMIH are currently in liquidation under a creditors’ voluntary winding up operation.

Photo credit: Manifold Times
Published: 7 April, 2020

Bunker Fuel

Singapore: Bunker fuel sales down by 3.8% on year in July 2026

4.73 million mt of various marine fuel grades were delivered at the world’s largest bunkering port in July, up from 4.92 million mt recorded during the similar month in 2025.

Published

8 hours ago

August 17, 2026

Admin

Singapore: Bunker fuel sales down by 3.8% on year in July 2026

Sales of marine fuel at Singapore port fell by 3.8% on year in July 2026, according to data from the Maritime and Port Authority of Singapore (MPA).

In total, 4.73 million metric tonnes (mt) (exact 4,731,900 mt) of various marine fuel grades were delivered at the world’s largest bunkering port in July, up from 4.92 million mt (4,918,000 mt) recorded during the similar month in 2025.

Deliveries of marine fuel oil, low sulphur fuel oil, ultra low sulphur fuel oil, marine gas oil and marine diesel oil in July (against on year) recorded respectively 1.95 million mt (zero from 1.95 million mt), 2.33 million mt (-2.1% from 2.38 million mt), 1,600 mt (+100% from zero), 700 mt (-82% from 3,900 mt) and zero (from zero).

Singapore: Bunker fuel sales down by 3.8% on year in July 2026

Bio-blended variants of marine fuel oil, low sulphur fuel oil, ultra low sulphur fuel oil, marine gas oil and marine diesel oil in July, (against on year) recorded respectively 8,200 mt (-83.7% from 50,300 mt), 29,900 mt (-62.9% from 80,500 mt), zero (from zero), zero (from zero) and zero (from zero). B100 biofuel bunkers, introduced in February last year, recorded 1,400 mt (-46.2% from 2,600 mt).

LNG and methanol sales were 58,700 mt (+41.4% from 41,500 mt) and zero (from zero) respectively. There were no recorded sales of ammonia for the month and so far since 2025.

Photo credit: Maritime and Port Authority of Singapore
Published: 17 August, 2026

Alternative Fuels

Ammonia, methanol bunkering workshops to be held at 13th Singapore Safety@Sea Week

Three workshops on ammonia bunkering, methanol bunkering, and crew safety awareness are part of MPA’s Safety@Sea Week, which will be held from 17 to 21 August.

Published

8 hours ago

August 17, 2026

Admin

The Maritime and Port Authority of Singapore (MPA), together with industry partners, on Monday (17 August) launched several new initiatives to enhance maritime safety.

Announced at the opening of the 13th Singapore Safety@Sea Week, these initiatives will support shared learning, strengthen operational capabilities, and prepare the industry for the safe adoption of new technologies.

Organised by MPA from 17 to 21 August, this year’s Safety@Sea Week is themed “All Hands on Deck – Safety First!”. About 1,500 participants from across the maritime community are expected to take part in 18 events organised by MPA and its partners.

These include the Safety@Sea Symposium, featuring seven speakers across two panel sessions, and three workshops on ammonia bunkering, methanol bunkering, and crew safety awareness.

Speaking at the opening, Mr Murali Pillai, Senior Minister of State for Law and Transport, highlighted three priorities for strengthening maritime safety: harnessing technology responsibly, preparing early for emerging risks, and keeping people at the centre of safety. He also underscored the importance of strong partnerships across the maritime community in building a strong safety culture.

At the opening of Safety@Sea Week, the National Maritime Safety at Sea Council and the Singapore Shipping Association launched the Singapore Near Miss Reporting System to encourage the reporting and sharing of lessons from near miss incidents.

Modelled on the internationally recognised Confidential Human Factors Incident Reporting Programme (CHIRP), the system provides sea space users with a confidential online channel to report near misses. CHIRP will independently receive the submissions and provide anonymised information to the Council, which will distil key safety lessons for sharing with the wider maritime community.

Note: More information about the event can be found here.

Photo credit: Peter Nguyen on Unsplash
Published: 17 August, 2026

Bunker Fuel

Alkagesta highlights key insights on European choke point pressures in August

Update covers dual supply crisis currently shaping global bunker markets — a stalled Strait of Hormuz peace process and Rhine water levels at a 140-year record low — and the implications for Singapore.

Published

8 hours ago

August 17, 2026

Admin

Malta-based global commodity trading house Alkagesta recently shared latest market insight examining the dual supply crisis gripping global energy markets as diplomatic efforts to reopen the Strait of Hormuz stall and Rhine water levels fall to record lows, creating what the company describes as a “state of emergency” for European inland fuel distribution.

In an article published on Alkagesta Market Insights on 11 August, the company’s trading and market intelligence teams outlined how the convergence of two simultaneous logistical crises is tightening prompt fuel availability across Singapore, Northwest Europe, and the Mediterranean:

Strait of Hormuz transits fell to a near-one-month low of 13 ships on August 9 following an attack on an ADNOC-linked tanker, as both the US and Iran demand war reparations before any reopening agreement can be reached. Simultaneously, Rhine water levels at the Kaub chokepoint fell to 16 cm on August 10 — the lowest since records began in 1880 — with forecasts pointing to a further drop to just 4 cm by August 14, effectively halting barge traffic and trapping fuel oil stocks at the ARA hub.

The supply picture across both key hubs has deteriorated sharply. In Singapore, Middle Eastern fuel oil imports nearly tripled week-over-week to 328,878 mt by July 29 — the highest volume since March — providing some relief as onshore commercial heavy distillate stocks rose to a five-week high of 19.58 million barrels by August 5. However, July bunker fuel sales are estimated to have fallen 3.7% month-over-month to 4.44 million mt, with elevated premiums redirecting prompt demand toward alternative ports including Zhoushan and Port Klang.

In Europe, the VLSFO market remains acutely undersupplied as refiners continue to prioritize high-margin diesel over low-sulfur blending components, while the Rhine crisis has forced barges to operate at just 15–20% of normal capacity — with freight rates from Rotterdam to Karlsruhe rising more than 400% in two months.

Alkagesta’s strategic outlook points to a potential total breakdown in Rhine-linked inland distribution by mid-August, a VLSFO Hi-5 spread likely to remain above $200/mt through Q3, and a global crude market that analysts warn requires an additional 2.1 million b/d for 18 months to rebuild depleted inventories.

Note: The full article can be read here.

Photo credit: Alkagesta
Published: 17 August, 2026