Asia/Pacific News
Ocean Bunkering to Halt Singapore Bunker Supply: Reuters
Ocean Bunkering, the top-three-ranked Singapore bunker supplier owned by oil trading firm Hin Leong, will suspend some marine fuel deliveries from the end of this week, according to news agency Reuters.
On Thursday the news agency cited three bunker traders who deal with Ocean Bunkering as saying that the company has told some customers it will suspend marine fuel deliveries from as soon as Friday.
Two sources said Ocean Bunkering was cancelling scheduled deliveries, Reuters said.
On Wednesday a bunker industry source told Ship & Bunker the company was carrying out previously ordered deliveries only, and not offering for new deals.
Ocean Bunkering and Hin Leong have yet to make an official comment on media reports over the past week that some of Hin Leong's lenders have declined to issue it with new letters of credit. Representatives of Hin Leong have not been available for comment when contacted by Ship & Bunker.
