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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. ....
UPDATE 1-Gulf Oil inks agreement to buy Ocean Tankers' lubricants plant in Singapore reuters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reuters.com Daily Mail and Mail on Sunday newspapers.
Gulf Oil inks agreement to buy Ocean Tankers’ lubricants plant in Singapore Gulf Oil International Ltd, part of the Hinduja group, said it has reached an agreement to acquire the lubricant blending plant and associated facilities from Singapore’s Ocean Tankers Pte Ltd. Ocean Tankers is one of a few companies owned by Singapore oil tycoon Oon Kuin Lim and his family that have been put under the management of court-appointed supervisors after the firms racked up billions of dollars of debt. The facilities located at Singapore’s Tuas include wharf access, a storage tank farm and terminal facility, Gulf Oil said in a statement on its website dated Dec. 8. The company did not provide an investment figure. ....
Gulf Oil inks agreement to buy Ocean Tankers' lubricants plant in Singapore reuters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reuters.com Daily Mail and Mail on Sunday newspapers.