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Hin Leong action paves way for continued strength in Singapore bunker market Singapore’s marine fuel market has remained resilient since the collapse of oil trader Hin Leong in 2020, with the latest action involving the freezing of assets belonging to its founder Oon Kuin Lim and his two children reflecting the stern action taken against industry malpractices, reposing faith in the local bunker market and reinforcing its commitment to transparency, industry sources told S&P Global Platts. “This [the Hin Leong case] is a very relevant issue; sadly our industry has been plagued by bankruptcies since the OW case and this has generated a – wrong – perception of a sector populated by unprofessional and unreliable companies,” a bunker supplier said.

Singapore high courtPort authorityAffairs departmentMonetary authority of singaporeXihe groupHin leongOon kuin limCommercial affairs departmentHigh courtMonetary authorityOcean tankersSpecial purpose vehicleMaran tankersMarine fuelMinerva bunkeringசிங்கப்பூர் உயர் நீதிமன்றம்