Singapore Revokes Two Bunker Licenses
The Maritime and Port Authority of Singapore (MPA) has revoked the bunker supplier and bunker craft operator licenses of Hong Fatt Oil Trading and Tankoil Marine Services with effect from 9 February 2015. The two companies are no longer allowed to operate as bunker suppliers and bunker craft operators in the Port of Singapore.
As part of MPA's ongoing regulatory efforts to ensure the safety, reliability and quality of bunker supplies in Singapore, routine checks were conducted last year on Hong Fatt Oil Trading and Tankoil Marine Services.
MPA's separate investigations into the two companies revealed discrepancies and wrongful declarations in the records kept on board their bunker tankers. There were also incidences of transfers of bunkers between bunker tankers that were done without MPA's approval. MPA has therefore decided to revoke the companies' licenses as they had breached the terms and conditions of their bunker supplier and bunker craft operator licenses.
According to Seatrade Global, Tankoil was recently connected to an alleged $125m loan scandal at Dynamic Oil Trading, a subsidiary of bankrupted OW Bunker.
Singapore now has 61 accredited bunker suppliers.