Asia/Pacific News
Singapore Court Orders Winding Up of Bunker Firm Costank
The High Court of Singapore has ordered the winding up of bunkering firm Costank (S) Pte Ltd.
The winding-up order was issued on March 20, according to a notice published in the city-state's Government Gazette on Thursday.
The case was brought by Zhu Ling under the Insolvency, Restructuring and Dissolution Act 2018.
Costank (S) Pte Ltd was removed from the official list of licensed suppliers as published by the Maritime and Port Authority of Singapore (MPA) in 2020.
For 2018, Costank ranked as the port's 16th largest supplier by volume, down from 11th in the previous year, having been ranked as high as 10th for 2013.
Lau Chin Huat and Yeo Boon Keong of Technic Inter-Asia Pte Ltd have been appointed as joint and several liquidators to manage the company’s affairs, as per the notice.
Following the ruling, all creditors have been instructed to file their proof of debt with the appointed liquidators.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 838.50 | 0.50 | 1673.50 | 12.00 |
| Rotterdam | 737.00 | 6.50 | 1331.00 | 69.50 |
| Houston | 831.50 | 49.50 | 1312.00 | 63.50 |
| Fujairah | 860.50 | 2.50 | 1621.00 | 54.50 |
| APAC Average | 979.50 | 67.50 | 1613.00 | 41.50 |
| Global 20 Ports Average | 939.50 | 3.00 | 1580.50 | 43.50 |
| Global 4 Ports Average | 817.00 | 13.50 | 1488.00 | 53.50 |
| Global Average Bunker Price | 943.50 | 33.50 | 1481.50 | 4.00 |
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