Asia/Pacific News
Former Singapore Bunker Supplier Toyota Tsusho Petroleum Enters Liquidation
Former Singapore-licensed bunker supplier Toyota Tsusho Petroleum Pte. Ltd. has entered a members’ voluntary liquidation.
Creditors have been given 30 days to submit details of their debts or claims to liquidator Alex Lee Tiong Wee of Boardroom Corporate & Advisory Services Pte. Ltd., according to a notice published in the Government Gazette on Friday.
The notice was issued under Singapore’s Insolvency, Restructuring and Dissolution Act 2018.
Toyota Tsusho Petroleum Pte. Ltd. was removed from the Maritime and Port Authority of Singapore’s list of licensed bunker suppliers in 2023.
The company had established a new entity, Toyota Tsusho Marine Fuels Corporation, as a replacement in December 2022 to focus on marine fuel trading, including alternative fuels.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 911.50 | 5.50 | 1278.50 | 16.50 |
| Rotterdam | 735.50 | 6.50 | 1395.00 | 40.50 |
| Houston | 764.00 | 1.00 | 1406.00 | 2.00 |
| Fujairah | 970.50 | 15.50 | 1724.00 | 1.50 |
| APAC Average | 999.50 | 0.50 | 1475.00 | 4.50 |
| Global 20 Ports Average | 898.00 | 4.00 | 1533.50 | 14.00 |
| Global 4 Ports Average | 845.00 | 7.50 | 1451.00 | 15.00 |
| Global Average Bunker Price | 950.50 | 0.00 | 1601.00 | 5.00 |
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