
Singapore Suspends Bunker Supply Licences of Hin Leong Unit
Photo: Shutterstock/ By Zheltikov Dmitry
By Roslan Khasawneh SINGAPORE, Oct 19 (Reuters)– Singapore has actually put on hold the permits to market ship gas held by a subsidiary of inoperative oil investor Hin Leong Trading Pte Ltd given that it might no more fulfill the licensing demands, the Maritime as well as Port Authority of Singapore (MPA) stated on Monday.
The MPA put on hold the permits for Hin Leong’s subsidiary Ocean Bunkering Services Pte Ltd (OBS), a firm representative stated in an emailed feedback to inquiries from Reuters sent out onOct 12.
MPA usually problems permits to provide shelter, or ship, gas to vessels as well as to run barges to transfer the gas to the ships.
“Given that OBS has stopped its bunkering operations since April this year and has not been able to fulfil its licensing commitment to date, MPA has suspended their bunkering licences until further notice,” MPA stated. The firm did not define the specific day the permits were put on hold.
In 2019, OBS was the third-largest shelter gas distributor by quantity in Singapore, which is the globe’s most significant bunkering center with regarding 50 million tonnes of yearly sales quantities.
Hin Leong’s various other shelter supply system, Hin Leong Marine International Pte Ltd, was still detailed as an accredited bunkering distributor while OBS’s permits were detailed as put on hold, the most up to date information on the MPA’s site sinceOct 9 revealed.
OBS notified clients in April it would certainly put on hold aquatic gas shipments after loan providers drew credit limit to Hin Leong, which at the time owed lenders $3.85 billion, amidst accusations of scams as well as losses on oil professions as costs went down as a result of the spread of the coronavirus.
At the begin of October, PricewaterhouseCoopers, Hin Leong’s court-appointed judicial supervisors, put a notification in neighborhood media for the sale of an “independent bunker fuel and lubricant supplier in Singapore.”
OBS has a fleet of 14 shelter barges certified by the MPA, according to the business’s site. It provided regarding 3 million to 4 million tonnes of shelter gas in 2019, according to quotes by sector resources. (Reporting by Roslan Khasawneh; Editing by Edmund Blair/Christian Schmollinger/Jane Merriman)
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