China marine fuel markets get boost from Singapore Hin Leong’s troubles

摘要

Singapore—China’s marine fuel market has received a much-needed boost due to a rise in valuations for the product in Singapore, as Ocean Bunkering Services, the bunkering arm of embattled oil trader Hin Leong Trading and one of the city-state’s top suppliers, exited the market. Ocean Bunkering Services has canceled all its bunker sales for delivery from April 18. Hin Leong and its bunkering and shipping arms together own and operate at least a couple of dozen or more bunker barges, accounting for nearly 15% of the total Maritime and Port Authority of Singapore-licensed bunker barges in Singapore.