Marine Fuel Supplier News

Equatorial Marine Fuel Management Services Pte Ltd rose one spot to become the top marine fuel supplier at world's largest bunkering hub Singapore in 2022, official data showed on Monday.Equatorial overtook PetroChina International Singapore Pte Ltd, who dipped from its top ranking in 2021 to second spot in 2022, while Trafigura's TFG Marine Pte Ltd climbed two spots to become third-largest supplier, data from the Maritime and Port Authority (MPA) of Singapore showed.Vitol Bunkers Pte Ltd maintained fourth in 2022 as with the previous year, while Shell Plc's Singapore bunkering unit, Shell Eas

PetroChina International Singapore Pte Ltd climbed three spots to be the top marine fuel supplier in the world's biggest ship refueling hub in 2021 while the overall number of licensed suppliers fell by four to 41, official data showed on Monday.Shell Plc's Singapore bunkering unit, Shell Eastern Trading Pte Ltd, fell from the top ranking in 2020 to third, behind Singapore's Equatorial Marine Fuel Management Services Pte Ltd in second place, unchanged from 2020, the Maritime and Port Authority (MPA) of Singapore data showed.Vitol Bunkers Pte Ltd…

Marine fuel supplier Minerva Bunkering announced it has launched a new marine fuels supply service in the Red Sea ports of Yanbu and Jeddah in the Kingdom of Saudi Arabia."The Red Sea is one of the shipping industry's most important waterways yet one that has historically offered limited bunkering options to serve the global fleet. We believe Minerva's new operation will support the increasing number of vessels calling these ports as well as provide a highly efficient service with minimal deviation for transiting vessels needing bunkers…

The Netherlands-based marine fuel supplier Titan LNG launched a tender for a new liquefied natural gas (LNG) bunkering barge to service the Zeebrugge and English Channel regions. The first delivery is expected to be fulfilled in 2023.The 4,200 cubic meter capacity vessel, to be named Krios, was designed by HB Hunte Engineering. It will operate with multiple tanks to segregate streams of LNG and bio-LNG, the sustainable carbon neutral fuel produced from biological waste streams.

The Shanghai International Energy Exchange (INE) is considering using oil storage sites in Singapore owned by PetroChina Co as a delivery point for its low-sulphur fuel oil futures contract, according to two sources with direct knowledge of the matter.The INE’s move would be the first time a Chinese futures contract would be deliverable outside of China and could boost liquidity for the contract, as well as help to influence pricing for shipping fuel.Low-sulphur fuel oil (LSFO) is required as ship fuel to meet new maritime emissions regulations that went into effect this year.

The founder of one of Singapore's biggest marine fuel suppliers has been charged for his involvement in a large-scale oil theft from Shell's refinery in the city-state, according to a charge sheet reviewed by Reuters.Pai Keng Pheng, the founder and managing director of Sentek Marine & Trading, was accused on Thursday of conspiring to dishonestly receive stolen property in a charge issued by the police's organized crime branch.Sentek and Shell employees and other third parties have been previously charged for their role in the theft, first uncovered in 2017.In total, about $150 million of oil was stolen over several years from the refinery…

Off the coast of Singapore, the world's largest ship refuelling centre, a bunker barge sidled next to the supertanker Pu Tuo San to fill the giant vessel with a new type of fuel that will meet global standards that start up in January.With a little over five months left until stricter marine fuel rules come into effect, shippers such as Singapore's Ocean Tankers that own the very large crude carrier (VLCC) Pu Tuo San have started testing out lower sulphur fuel to prepare their…

Denmark-based marine fuel supplier Bunker One has announced the establishment of a new physical bunker entity, serving the German market.Bunker Holding subsidiary said that the business activities of the new entity Bunker One (Germany) GmbH will be concentrated on supplying marine fuel products and other related services to ferry- container- and other commercial vessels in all ports at the German North Sea and Baltic Sea regions with base in Rostock, Kiel and Hamburg.To benefit the customers and business partners in this geographical area Bunker One has established a team of very dedicated employees with many years of experience within the industry - located in office premises in Rostock and Hamburg.Carsten Klausen…

Aegean Marine Petroleum Network Inc. announced Tuesday that it has filed for chapter 11 bankruptcy protection as the New York listed marine fuel supplier is being investigated to determine whether there was $200 million fraud involving fake transactions with brass-plate companies.Aegean said it has financial support of Swiss strategic partner Mercuria Energy Group Ltd., one of the world’s largest independent energy and commodity companies. Mercuria has pledged more than $532 million in postpetition financing to fund the chapter 11 process and the Aegean’s working capital needs, and has agreed to serve as the stalking horse bidder in…

The former manager of marine fuel supplier OW Bunker's Singapore subsidiary said on Tuesday he would appeal the 18-month jail term he was sentenced to last month, his lawyer told Reuters.On May 30, a Danish city court found Lars Moller, former head of Dynamic Oil Trading in Singapore, guilty of granting credit outside his mandate, contributing to OW Bunker's bankruptcy.Moller's defense lawyer said on Tuesday, that they would appeal the verdict and aimed for him to be "fully acquitted".The 2014 bankruptcy of the firm, then the world's leading supplier of bunker fuel with a 7 percent market shar

Singapore law firm asks for vessels to be arrested; bunker barges owned by Vermont UM Shipping. Four marine refuelling barges owned and operated by Vermont UM Shipping Pte Ltd were seized in Singapore on Monday night, according to the website of Singapore's Supreme Court. Singaporean law firm Rajah & Tann seized the vessels over unpaid claims on behalf of its client, Malayan Banking Berhad, or Maybank, said a source with direct knowledge of the matter who declined to be identified as the person is not authorised to speak to the media. The source declined to specify the amount of the claims against Vermont UM Shipping. Rajah & Tann did not respond to an emailed request for comment. Maybank also did not respond to an emailed request for comment.

An alleged oil heist in Singapore that has already led to 20 arrests, the seizure of at least one tanker and allegations that thieves siphoned thousands of tonnes of fuel from Shell’s biggest refinery is shining a spotlight on an illegal trade worth tens of billions of dollars worldwide. Working routes in a triangle of sea anchored by Thailand, Vietnam and Singapore and encompassing the oil facilities of Malaysia, the smugglers take advantage of a difficult-to-patrol sea and enticing black market prices, experts say.

A Singapore marine fuel supplier and three executives have been charged with cheating as part of a government crackdown on short deliveries of fuel to vessels in the world's largest bunkering hub. Vermont UM Bunkering Pte Ltd, two directors and a former bunker manager were charged with 150 counts of conspiracy to charge customers for more marine fuels - also known as bunkers - than actually delivered, the Corrupt Practices Investigation Bureau (CPIB) said in a statement. "Through these alleged fraudulent transactions, Vermont Bunkering had dishonestly induced its customers to make excess payments totalling over $8 million," the statement said.

Gas4Sea partners - ENGIE, Mitsubishi Corporation and NYK - have been selected by Norwegian multinational energy group Statoil to be their liquefied natural gas (LNG) marine fuel supplier in the port of Rotterdam, in the Netherlands, for four crude shuttle tankers. The four planned dual fuel vessels are to come into service in early 2020 and will be operated by Statoil in Northern European seas. Gas4Sea will supply LNG using the ENGIE Zeebrugge which started operations earlier this year. She is currently performing regular ship-to-ship LNG bunkering services in the port of Zeebrugge, in Belgium. LNG Bunkering vessel (LBV) ENGIE Zeebrugge holds an LNG capacity of 5…

Denmark's general prosecutor said on Thursday it had charged a former Singapore unit manager of Denmark-based OW Bunker with fraud.   The prosecutor said the former manager, a Danish citizen, has been charged with committing fraud of agent for more than 800 million Danish crowns ($122.79 million) by granting credit outside his mandate.   The prosecutor also said it did not find legal grounds for criminal prosecution of other management members within the OW Bunker group, the world's biggest marine fuel supplier before it went bankrupt in 2014.   Reporting by Stine Jacobsen

The biggest change in shipping fuel for decades is three years away, but shipping and refining companies need to be taking action now to ensure the world will have the millions of barrels of cleaner fuel it will need. The problem, according to participants at the Platts Middle Distillates conference in Antwerp, is that very few are, raising concerns about volatile prices and potential shortages. "It's going to be chaotic," said Andrew Laven, regional manager for Middle East and Africa with Bomin, a marine fuel supplier. More than three months ago, the International Maritime Organization (IMO) finalised rules requiring ships worldwide to cut their sulphur emissions to 0.5 percent by 2020, from 3.5 percent now.

Marine fuel supplier Scandinavian Bunkering A/S announced today that Erik Vinde has been appointed as Managing Director, effective from August 1.   Vinde joined Scandinavian Bunkering in 2006, and prior to his promotion held the position of COO.

The Shearer Group, Inc. (TSGI) informs it has recently completed the design of a 130’ x 35’ x 10’ double skin bunker barge for an unspecified Gulf Coast marine fuel supplier.   The new barge design features below deck piping for cleaner and safer deck operations, the designer noted. Above deck are five oil tanks and one potable water tank.   Capacities: Fuel oil: 4,500 barrels Potable water: 40,000 gallons Lube oil: 20,000 gallons

BP Singapore kept its spot as a top marine fuel supplier by volume for the eleventh straight year in 2014 at the world's biggest bunkering port, the Maritime Port Authority of Singapore (MPA) said. MPA does not specify the volumes each supplier sells, but traders pegged the oil major's sales at around 400,000 tonnes a month, or about 10 percent of the country's monthly sales. Overall Singapore sold 42.4 million tonnes of marine fuel last year. This is slightly behind the sales volume achieved in 2013 at 42.7MT. Bunker traders sources have attributed the drop to more efficient use of ship-fuel systems, such as slow steaming and the slowdown of economic activities in Asia. While BP maintained its first position, the second to fifth positions remained unchanged from last year.

The downfall of a leading marine fuel supplier that prompted sellers to tighten credit terms in Singapore is skewing the post-OW Bunker jostle for market share towards cash-rich trading companies and barge operators, traders said. Marine fuel premiums over cargo prices in Singapore, the world's busiest refuelling port, have stayed elevated after hitting their highest in more than two years in the wake of OW Bunker's collapse as worried buyers tried to lock in prompt supplies. Besides oil majors - such as BP, Shell and ExxonMobil - which have integrated supply systems including storage and fuel-delivery tankers, rivals with deep pockets or a fleet of barges are also expected to expand their market share.

OW Tanker, a unit of bankrupt OW Bunker and owner of its marine fuel supply ships, has been taken over by a newly-created company, the fleet manager told Reuters on Wednesday. Henrik Pedersen said the takeover by Alba Tanker ApS, which has the trustees of the bankrupt company on its board, is part of the process of securing assets for the estate. Denmark's OW Bunker had been the largest marine fuel supplier in the world. "We are not a very big part of the company," Pedersen said by telephone. "We're the ship-owning part of OW Bunker and Trading.

Traders and shipping companies scrambled to source fuel and take over supply contracts on Friday after Danish marine fuel supplier OW Bunker said a suspected fraud at its Singapore subsidiary had pushed it to the brink of bankruptcy. The alleged fraud at Singapore-based subsidiary Dynamic Oil Trading is potentially one of the biggest financial market scandals to hit the city state since 2004, when China Aviation Oil (Singapore) ran up oil futures losses of $550 million. Some institutional and individual investors in Denmark said they were considering taking legal action against the firm.

Endofa, an independent marine fuel supplier and bunker trader, informs it has named Lars Hoffmann as Chief Executive Officer. Prior to joining Endofa, Hoffmann served as Chief Executive Officer for Shipping.dk. He also served on the board of the Danish Shipbrokers Association. "We have known Lars for many years and always admired him for his accomplishments in shipping and his work for the Danish shipping industry," notes Endofa's Kenn Soendergaard. Endofa completed its first year with a turnover of US$ 235-million between the company's offices in Houston and Dubai…