Asia/Pacific News
Singapore: MPA Revokes Bunker Supply Licence of Top 10 Supplier Transocean Oil
The Maritime and Port Authority of Singapore (MPA) Monday said that, effective immediately, the bunker supply licence of top 10 ranked bunker supplier Transocean Oil Pte Ltd (Transocean Oil) has been revoked.
As a result, Transocean Oil will no longer be allowed to operate as bunker supplier and bunker craft operator in the Port of Singapore
"As part of MPA’s ongoing regulatory efforts to ensure the integrity of bunkering in Singapore, checks were conducted on Transocean in March and April this year. MPA’s investigations revealed that there were several falsifications of records and discrepancies in the stock movement logbooks on board the bunker tankers operated by Transocean, which breached the terms and conditions of their bunker supplier and bunker craft operator licences," MPA said in a written statement released Monday.
For 2016 Transocean Oil was ranked the sixth largest supplier by volume in the world's biggest bunkering port, down from fourth in the previous year.
Transocean Oil is not the only high profile name to have exited the market this year, nor have it's licence revoked by MPA.
Earlier this year MPA said the licence of top three ranked bunker supplier Universal Energy Pte Ltd (Universal Energy) would not be renewed when it expired on August 31, 2017, with the former player said to have accumulated demerit points for delivery of bunkers that were severely aerated - commonly known as the Cappuccino Effect - as well as stoppages during bunkering operations.
