Asia/Pacific News
Singapore Bunker Suppliers: Top 20 Player Searights Out, Maersk Oil Trading In
Top 20 ranked Singapore bunker supplier Searights Maritime Services Pte Ltd (Searights) has not had its bunker supplier licence renewed and no longer features on the Maritime and Port Authority of Singapore (MPA)'s list of accredited bunker suppliers.
The development is the latest in what has been an apparently rapid turn of fortune for the company that last year placed 12th on MPA's list of top bunker suppliers by volume, having been ranked 14th and 16th in 2014 and 2013 respectively.
But the exit will also come as little surprise to many. After the company's former CEO Cecil Cheong passed away last November, it has been well known that Searights has not been actively supplying for most of 2016, or settling a number of its outstanding invoices.
One of its bunker vessels, Giselle, was arrested at the end of June following action that was taken by Moby Dick Supplies Pte. Ltd. (Moby Dick Supplies) who says Searights owes it S$15,000 ($11,100).
However, the company told Ship & Bunker last May that it had not filed for bankruptcy, dismissing rumours to the contrary.
Despite the exit, the number of suppliers in the world's biggest bunkering port remains at 59, with MPA data showing that effective July 27, 2016 Maersk Oil Trading Singapore Pte Ltd has been granted a bunker supplier licence for MFO, MDO, and MGO.
Correction: A previous version of this article incorrectly stated the amount being claimed by Moby Dick Supplies was $15 million.
