Bunker barge requirement in Sri Lanka

(http://www.AugustEnergy.biz/, June 30, Tuesday)

This is an enquiry e-mail via http://www.EnergyAsia.com/ from: Lalith Dilip

One of our close chrtrs based in Colombo looking for a good bunker barge to supplement the one they already have on T/C.

Type: Double Bottom, Double Skin Bunker Barge
Age : Less than 25 Years
Cargo carrying capacity: 1,250 Mt
Tanks Segregation: for 3 grades of fuel (MGO , IFO 180 & IFO 380)
Pumping speed: Min 200 Mt/h for IFO (segregated pumps)

Tanker must be fitted with heating coils

Period of Charter: 3+3+3 months (with option to extend after 3 & 6 months)
Fenders: Yokohama fenders

The bunker jetty at Colombo can accommodate tankers up to a max draft of 4.5 meters and max LOA 70 M.

Owners must also agree to register the vessel under Sri Lankan Flag for the duration of the charter.

Rate idea: Propose owners best

Cmms: will let you know


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MALDIVES: State firm invites oil storage, bunker supply investors

(http://www.AugustEnergy.biz/, June 30, Tuesday) --- The Maldives government is inviting international oil companies to help it develop an oil storage and bunker supply business to serve ships and fishing fleet in the Indian Ocean.

The Maldives National Oil Company (MNOC) wants to team up with experienced traders or storage companies to build and operate a large crude oil terminal, as well as a floating terminal to store and distribute fuel oil and bunker fuel.

For now, the country of 1,190 islands uses gasoil and does not import fuel oil. It needs the storage terminal to jumpstart the bunker supply business, which it hopes will position it to compete against Sri Lanka, its nearest neighbour.

Speaking at August Energy’s bunker conference in Singapore last week, MNOC managing director Ahmed Muneez said the crude and petroleum terminal with the capacity to store six million cubic metres of liquids is being planned on 20 hectares of land at a cost of $150 million.

He told more than 50 delegates attending the “BUNKER INDUSTRY: Trading, Pricing & Operating Risks” conference that 75% of the proposed terminal will be used for storing crude oil while the rest will hold clean products and bunker fuel.

The terminal will be served by two jetties, two single buoy moorings (SBMs) and full blending facilities, he added.

MNOC is seeking prospective partners to engage in a joint venture, including international fuel oil traders to lease the storage capacity for the medium-term, Mr Muneez said.

“We’re scouting for partners. The terminal’s operator or user will be able to sell refined products to regional markets to take advantage of arbitrage and trading plays.”

More than 1,000 ships call at Maldives’ major ports for trade and tourism each month. MNOC seeks to tap into a demand for 7,000 to 10,000 tonnes per month of bunker fuel if these vessels can be invited to re-fuel at the Maldives.

Mr Muneez said MNOC is confident of competing against Sri Lanka, where more than 30,000 tonnes of bunker fuel is supplied to passing ships at the port of Colombo every month.

If the company succeeds in attracting an investor, it could begin construction work by year-end and complete the terminal by end-2010.

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SINGAPORE: Anti-corruption agency continues watch over bunker industry

(http://www.AugustEnergy.biz/, June 30, Tuesday) --- Singapore’s guardian against fraud and commercial malpractices, the Corrupt Practices Investigation Bureau (CPIB), engaged the bunkering sector last week at last week’s “BUNKER INDUSTRY: Trading, Pricing and Operating Risks” conference held at Suntec City in Singapore.

During June 24-25 event, organised by August Energy Pte Ltd, Ang Seow Lian, an assistant director at the agency, said the world’s largest bunker refuelling and supply port was “well regulated and on the right path.”

He said that, while there were some high-profile corruption cases over the years – giving the industry “quite a bad reputation” - the authorities have made significant gains in “reducing the opportunities for malpractices.”

Mr Ang, however, emphasised how the CPIB continues to monitor the bunker industry due to its “critical importance” to Singapore’s economy, generating revenues of around US$15 billion annually. He used the public speaking opportunity – a rare event for the agency – to explain how corruption “raises the costs of doing business on a whole”.

“We will not stop (investigating),” he said, explaining that the CPIB’s “objective is to keep the industry as clean as we can, though we know it’s impossible to be totally clean.”

He revealed that the CPIB has prosecuted more than 70 surveyors, bosses or staff of bunker companies since it began cracking down on the industry in 2000. Ship owners complained that they were being shortchanged on fuel supply and quality.

In 2002, the Singapore court convicted more than 60 marine surveyors on corruption charges and fined them for accepting bribes.

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August Energy concludes successful bunker course

(http://www.AugustEnergy.biz/, June 30, Tuesday) --- August Energy Pte Ltd’s successful bunker course entitled, “BUNKER INDUSTRY: Trading, Pricing & Operating Risks” at the Suntec City in Singapore attracted nearly 60 delegates and industry participants.

The two-day event on June 24 & 25 focused on issues of risk mitigation and management for the bunker business during this difficult period of high volatility, tightened credit and additional uncertainties caused by H1N1 threat and a government crackdown on corrupt practices and fraud.

A panel of 15 local and international speakers was assembled from as far as the UK and the USA to present on current issues and concerns of the bunkering industry.

The course started with a keynote speech on opportunities for oil storage and terminal investment in the Maldives by Ahmed Muneez, managing director of Maldives National Oil Company. David Ernsberger, Platts’ senior editorial director for Asia, presented “Platts’ Role In the Bunker Trade: Pricing Issues and Risk”, explaining the intricacies of how the company sets spot prices and how these are used to price term contracts.

Government guidance for the bunkering industry was provided in succession by Gerald Loh, assistant director for the marine services department of the Maritime and Port Authority of Singapore (MPA), and Ang Seow Lian, assistant director at the Corrupt Practices Investigation Bureau (CPIB).

Giving an “Overview of the Bunker Industry in Singapore: Key Issues”, Mr Loh said the Singapore bunker sales rose 2.6% in the first five months of 2009 compared with the same period last year.

Mr Ang spoke on “CPIB Updates: Safeguarding the Bunkering Industry”, providing valuable insights into the government’s efforts to fight corruption and malpractices in the bunker industry.

Yeo Ek Meng, vice president of clearing and commodities business at the Singapore Exchange Ltd (SGX), spoke on “The Perspective of the Clearing Exchange” while Tim Reid, a partner at insolvency and restructuring experts Ferrier Hodgson, spoke on “Preparing for the Coming Downturn in the Shipping Trade.”

Operating and technical issues were then handled by Tan Lay Thok, a member of the technical committee for bunkering at SPRING Singapore, and Yee Peng Fei, principal consultant at Transportation & Logistics Managers Pte Ltd. Mr Tan explained Singapore’s new SS-600 standards while Mr Yee presented the previously established “Quality Management for Bunker Supply Chain (SS 524:2006).”

Day Two started with Mr Muneez presenting “Maldives: Opportunities for Bunkering Business”, showcasing oil storage business opportunities in his country.

Government support for Singapore companies promoting exports was featured by Angeline Chan, head of transport and logistics at IE Singapore, through her speech on “IE Singapore Updates: Expanding Overseas in Turbulent Times”.

Emphasising the course’s theme of risk management were Jennifer Ilkiw, director for Asia Pacific at IntercontinentalExchange Inc (ICE), presenting: “Clearing and Risk Management for the Bunkering Industry”, and John Phillips, credit manager at Chemoil International Pte Ltd with his talk on “The Perspective of the Bunker Trader.”

Greg Leck, vice president of business development at Triple Point Technology Inc, discussed “The Use of Risk Management Tools and Software”.Johnson Chan, head of structured trade finance for North Asia at OCBC Hong Kong and vice chairman of the Hong Kong Energy and Minerals United Associations, presented “Financial and Trading Risks Facing the Bunker Trade” while David Anderson, deputy regional manager for Asia-Pacific at Zurich Insurance Company, discussed “Using Credit Insurance to Manage Risk in Volatile Times.“

The final speaker, Paul Butler, regional manager for the Pacific Rim Region at fuel storage terminals specialist HMT Pte Ltd, delivered an expert paper on, “Storage Terminals and the Oil Trade”. He provided delegates with technical details and an update on the growing demand for storage terminals for the oil industry.

Tham Heng Mun, managing director of event producer August Energy closed the conference by sharing with the delegates a brief preview of the coming events the company is preparing for the rest of 2009. Several of the sessions were moderated by Ng Weng Hoong, editor of EnergyAsia.

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BUNKER INDUSTRY: Trading Pricing & Operating Risks

(http://www.AugustEnergy.biz/, June 22, Monday)

COURSE PROGRAMME

DAY 1 - Wednesday 24 June 2009

8.15 am
Registration and Morning Coffee

8.45 am
Introduction and Opening Address
Tham Heng Mun
Managing Director
August Energy

9.00 am
“PROJECT: Petroleum Storage and Terminal Investment in the Maldives”
Ahmed Muneez
Managing Director
Maldives National Oil Company

10.00 am
Q & A
Ng Weng Hoong
Editor
EnergyAsia

10.15 am
Refreshment and networking break

PANEL: Keeping Singapore On Top

10.30 am
“Platts’ Role In the Bunker Market: Pricing Issues and Risk”
David Ernsberger
Senior Editorial Director, Asia
Platts

11.15 am
“Overview of the Bunker Industry in Singapore”
Gerald Loh
Assistant Director, Marine Services Department
Maritime and Port Authority of Singapore (MPA)

11.45 am
“CPIB Update: Safeguarding the Bunkering Industry”
Ang Seow Lian
Assistant Director
Corrupt Practices Investigation Bureau (CPIB)

12.30 pm
Summary and Q & A
Ng Weng Hoong
Editor
EnergyAsia

12.45 pm
Networking Luncheon

PANEL: Credit Risks and Opportunities

2.00 pm
“The Perspective of the Clearing Exchange”
Yeo Ek Meng
Vice President, Clearing and Commodities Business
Singapore Exchange Ltd (SGX)

2.30 pm
“Preparing for the Downturn in the Shipping Trade”
Tim Reid
Partner
Ferrier Hodgson

3.00 pm
Summary and Q & A
Tham Heng Mun
Managing Director
August Energy

PANEL: Upkeeping Singapore’s High Standards

3.15 pm
“Singapore’s New SS‐600 Standard, Part 1”
Tan Lay Thok
Member, Technical Committee, Bunkering
SPRING Singapore

3.45 pm
Refreshment and Networking Break

4.00 pm
“Singapore’s New SS‐600 Standard, Part 2”
Tan Lay Thok
Member, Technical Committee, Bunkering
SPRING Singapore

4.30 pm
“Quality Management for Bunker Supply Chain (SS 524:2006)”
Yee Peng Fei
Principal Consultant
Transportation & Logistics Managers Pte Ltd

5.15 pm
Summary and Q & A
Tham Heng Mun
Managing Director
August Energy

5.30pm
End of Day One

Day Two: Thursday 25 June 2009

9.00 am
Opening Comments
Tham Heng Mun
Managing Director
August Energy

PANEL: Credit Risks and Opportunities

9.15 am
“Maldives: Opportunities for Bunkering Business”
Ahmed Muneez
Managing Director
Maldives National Oil Company

9.45 am
“IE Singapore Overview: Your Partner for your Overseas Venture and Growth”
Angeline Chan
Head, Transport and Logistics
International Enterprise Singapore (IE Singapore)

10.00 am
“Clearing and Risk Management for the Bunker Industry”
Jennifer Ilkiw
Director, Asia
IntercontinentalExchange Inc (ICE)

10.30 am
Summary and Q & A
Ng Weng Hoong
Editor
EnergyAsia

10.45 am
Refreshment and Networking Break

PANEL: Credit Risks and Opportunities

11.00 am
“The Perspective of the Bunker Trader”
John Phillips
Global Credit Manager
Chemoil Energy Ltd

11.45 am
“Credit Risks & Opportunities: The Use of Risk Management Tools and Software”
Greg Leck
Vice President, Business Development
Triple Point Technology Inc

12.30 pm
Summary and Q & A
Ng Weng Hoong
Editor
EnergyAsia

12.45 pm
Networking Luncheon

PANEL: Credit Risks and Opportunities

2.00 pm
“Financial and Trading Risks Face by the Bunker Trade”
Johnson Chan
Head of Structured Trade Finance for North Asia
OCBC Hong Kong

2.45 pm
“Using Credit and Political Risk Insurance in Volatile Times“
David Anderson
Deputy Regional Manager, Asia‐Pacific
Zurich Insurance Company

3.30 pm
Refreshment and Networking Break

3.45 pm
“Innovative Solutions for Aboveground Storage Tanks“
Paul E Butler
Regional Manager, Asia‐Pacific
HMT (specialist in fuel storage terminals)

4.10 pm
Delegates’ Comments on Industry Issues
Ng Weng Hoong
Editor
EnergyAsia

4.40 pm
Concluding Remarks and Thank You
Tham Heng Mun
Managing Director
August Energy

End of Day Two and Course

Sponsored by:












Fuel Supplies Maldives





SGX Asia Clear


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Strong speakers line-up for AugustEnergy's June bunker course

(http://www.AugustEnergy.biz/, May 18, Monday) --- AugustEnergy is finalising preparations for its Bunkering Course in Singapore on June 24-25. Thanks to a strong roster of speakers assembled, next month’s event promises to be one not to be missed by members of a bunkering industry in the throes of the global economic storm.

Government support includes presentations by four agencies concerned with the sector’s activities.

The Corrupt Practices Investigation Bureau (CPIB), Singapore’s watchdog against malpractice in the public and private sectors, will be addressing the bunkering industry for the first time ever. This speaking occasion is widely considered timely in light of recent news-making developments involving some bunker sector companies currently under investigation.

International Enterprise Singapore (IE Singapore) will also be presenting its various programmes to assist Singapore companies in expanding operations overseas. The agency’s speaker will be handling inquiries from local bunkering players interested in reaching markets abroad.

A third government agency, SPRING Singapore, will be providing an essential primer on Singapore’s new standard, SS-600. This will be complemented by another presentation on SS-524, otherwise known as Quality Management for Bunker Supply Chains (QMBS).

Spearheading government support is the Maritime and Port Authority of Singapore (MPA). In fully-endorsing AugustEnergy’s Bunker Course, the agency will be updating members of the bunker sector on its latest policies and guidelines. It also encourages industry participation in this event through its 30% subsidy for all Singapore-registered companies.

Key members of the private sector will also be presenting on issues relevant to the industry today, such as tightening credit and managing trading risk.

Platts’ senior editorial director for Asia, Dave Ernsberger, will be on-hand to shed light on pricing issues, and Chemoil International’s credit manager, John Philips, will be discussing risk management the perspective of the bunker trader.

OCBC’s head of Structured Trade Finance for North Asia, Johnson Chan, will be discussing financial and trading risks, while Zurich Insurance’s deputy regional manager, David Anderson, will be illustrating the use of credit insurance during this time of extreme volatility.

Tim Reid, partner at advisory and forensics experts Ferrier Hodgson, will brief bunker delegates on corporate recovery services to assist bunker companies experiencing financial difficulties.

IntercontinentalExchange (ICE)’s Jennifer Ilkiw and Singapore Exchange (SGX)’s Yeo Ek Meng will be explaining the benefits of clearing exchanges in mitigating trading risks, while Triple Point Technology’s vice-president for Business Development, Greg Leck, will be discussing a different approach to this through the use of risk management tools and software.

Providing an optimistic counterpoint to concerns on credit and risk, the Maldives National Oil Company’s managing director, Ahmed Muneez will be informing delegates on strategic oil storage and bunkering opportunities in the Indian sub-continent.

As much excitement has already been generated by the programme’s line-up of presentations, interested members of the bunkering industry are advised register while there are still seats available.

Registration forms can be downloaded from AugustEnergy’s website http://www.AugustEnergy.biz/, or call +65 6438 0933 for inquiries.

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August Energy’s bunker course attracts regional delegates

(http://www.augustenergy.biz/, March 30, Monday) AugustEnergy’s recent bunker course, Bunkering Principles, Management & Operations, attracted a larger-than-expected number of participants from seven countries.

More than 50 industry professionals attended the two-day event held in Singapore on February 24 to 25, exceeding the 30 that the company had planned for.

While the majority were Singapore-based, several came from countries in Southeast Asia and the Middle East, reinforcing Singapore’s reputation as the Asian region’s bunkering hub.

The Middle East delegates included supply and bunkering services manager Khalid Saad Al Fuhaid from Dubai’s ENOC and Raeed Al Haidar of the Kuwait Petroleum Corporation, while Fuel Supply Maldives was represented by chairman Mohamed Ahmed and deputy managing director Ibrahim Ziyath.

Eric Aquipel and Donovan Manansala represented PTT Philippines Corporation while Brunei’s Ministry of Communications sent Haji Shahrani bin Haji Mana on behalf of Brunei Port.

Malaysia had four delegates: general manager Hean Boon Yeow of Ban Hoe Leong Marine Supplies, finance, procurement and administration manager Lita Kardjono Chang of S.P. Satria Logistics, administrative officer Ishak Mustaffa of the Port Klang Authority, and purchasing and contracting executive, Lazuardi Md Salleh of MISC.

Along with their Singapore counterparts, the international delegates engaged the panel of expert speakers on issues and concerns pertaining to the bunkering sector.

Some of the topics debated included issues related to the management and trading of bunker fuels, the role and issues related to the Singapore Standard 600 (combining the CP 60 and CP 77), credit risks, trade financing and the outlook for bunker projects in the region.

Of increasing relevance is the discussion on credit, financial and liquidity challenges facing today’s bunker markets, focusing on risks and how traders should deal with the current credit threats and liquidity squeeze.

The participants also discussed issues such as the importance and role of surveyors and inspectors, and survey requirements to avoid bunker contamination, dispute handling, new MARPOL rules and requirements, as well as bunker auditing practices and policy in Singapore and the international market.

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