Business

Singapore: Still the leading bunker hub come 2020, say players

Comments on a recent report which suggests Singapore could be losing market share to China come 2020.

Published

8 years ago

April 17, 2018

Admin

Several Singapore-based players within the marine fuels industry feel Singapore’s competitive edge as the world’s biggest bunker hub will continue beyond 2020, contrary to a recent report from research and consultancy firm Wood Mackenzie.

It suggests Singapore could be losing some market share in the bunkering sector to regional players in 2020 due to the surplus availability of compliant bunker fuels in surrounding regions such as China.

“We also expect a shift in bunkering locations based on compliant fuels availability,” said Iain Mowat, Senior Research Analyst, EMEARC refining and oil product markets, in the report IMO aims to halve global shipping emissions – but what will it cost?

“Singapore, for example, could potentially lose some of its market share for bunker fuels to China as shippers look for alternative locations with a surplus of compliant fuels. China, with ample MGO supply, is well positioned to attract shippers.”

A Singapore bunker veteran, speaking on condition of anonymity, disagrees with the above.

“China has ambition to grow its bunker industry, this is a fact but there are many factors to be met and not just simply based on availability of compliant fuels like marine gas oil (MGO),” he told Manifold Times on Monday.

He points out that Singapore, as an oil trading hub, is already one of the biggest distribution centres of distillates including MGO for Asia.

“The price differential of MGO between Singapore and Chinese ports is unlikely to change coming 2020. Singapore, right now, is already able to supply compliant distillates to vessels and yet we are still typically around $80 dollars [based on Manifold Times MGO price indication between Singapore and a Chinese port on 17 April] cheaper than China,” he explains.

“By 2020, Singapore will still be a major oil trading hub in Asia and I strongly believe the republic will still retain its leading positon in the world as a bunkering hub.

“On top of this, Singapore is able to provide a level of service which is unmatched by other ports in the world in terms of efficiency while providing bunkers at cheaper prices than most parts of the world.”

Meanwhile, a trading source highlights MGO is not the only material which is able to meet the 0.5% global sulphur cap for marine fuel by the 2020 deadline.

“China may have ample MGO supply but how about other compliant bunker fuels? Low sulphur fuels are currently sold cheaper than MGO and based on Singapore’s status as an oil trading hub it is expected Singapore will have ample types of low sulphur fuels to supply when 2020 comes,” he notes.

“To date, with the exception of LNG (liquefied natural gas), we have not yet heard of low sulphur fuels being available in China.”

Further, vessels coming to Singapore are able to get more done in a safe and predictable maritime environment on top of receiving bunkers, shares a bunker broker who believes vessels will unlikely make bunker-only calls at Chinese ports.

“Certain sizes of ships will not be able to go into certain ports in China to take bunkers because they are too big, especially tankers which may have to take bunkers at OPL (outer port limit) of China maritime facilities, and China bunker suppliers don't deliver OPL,” he says.

“Whereas in Singapore, VLCCs can take bunkers within Singapore port. On top of that, Singapore terminals are now allowing bunker tankers to go alongside oil tankers doing cargo ops at terminals to supply bunkers. China currently don't allow that.

“It is not only MGO avails that count in grabbing market share from Singapore as a bunkering port, but also price and overall efficiency as well and not forgetting this simple word: TRUST. Singapore will still retain its competitive edge and retain its tittle as the world biggest bunkering port come 2020.”

Published: 17 April, 2018

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

17 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

17 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

17 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