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Shipping Association confirms no disruption to bunker supply in Singapore
THE Singapore Shipping Association (SSA) has joined the Maritime and Port Authority of Singapore (MPA) to highlight that there has been no disruption to bunker supply and bunkering operations in Singapore.
SSA and MPA on Thursday organised an industry dialogue with close to 50 companies to give updates and discuss how best to minimise any fallout on the local bunkering scene, after OW Bunker reported US$125 million in fraud at its Singapore unit.
Firms were advised to carefully inspect their contractual obligations, and to work closely with their stakeholders to avoid or minimise disruption in their operations, SSA and MPA said in a release.
"The bunkering industry here is a well-regulated one," stressed SSA president Patrick Phoon. "While I urge my members to seek professional and legal advice as necessary, I also hope that those affected by this event would remain calm and not resort to knee-jerk reactions which may rock the stability and reputation of Singapore's bunkering industry. My Association will be working closely with MPA to ensure that there would not be any unnecessary disruption in bunker supply and operations here."
Meanwhile, MPA chief executive Andrew Tan said that the session was a useful one as it brought the industry together to understand the situation and explore how best to move forward.