Edition:
India

Roslan Khasawneh

Fujairah oil inventories soar to record on weak demand, storage play

20 May 2020

SINGAPORE Oil product inventories in the United Arab Emirates' (UAE) Fujairah bunkering and oil hub in the Middle East jumped to record highs in the week to May 18, data from industry information service S&P Global Platts showed on Wednesday.

RPT-UPDATE 2-Shipping company Ocean Tankers placed under court-appointed supervisor

13 May 2020

SINGAPORE, May 12 Two EY executives in Singapore have been appointed interim judicial managers of Ocean Tankers, the accounting firm said on Tuesday, following a Singapore court hearing to consider the shipping company's request to appoint independent managers.

Shipping company Ocean Tankers placed under court-appointed supervisor

12 May 2020

SINGAPORE Two EY executives in Singapore have been appointed interim judicial managers of Ocean Tankers, the accounting firm said on Tuesday, following a Singapore court hearing to consider the shipping company's request to appoint independent managers.

RPT-UPDATE 2-HSBC alleges Zenrock sought multiple loans for same oil cargo - court document

11 May 2020

SINGAPORE, May 8 HSBC Holdings PLC has alleged that Singapore-based Zenrock Commodities Trading Pte Ltd engaged in a series of "highly dishonest transactions" which included using the same oil cargo to obtain loans from at least two different lenders, according to a court document seen by Reuters.

HSBC alleges Zenrock sought multiple loans for same oil cargo - court document

08 May 2020

SINGAPORE HSBC Holdings PLC has alleged that Singapore-based Zenrock Commodities Trading Pte Ltd engaged in a series of "highly dishonest transactions" which included using the same oil cargo to obtain loans from at least two different lenders, according to a court document seen by Reuters.

Commodities trader Phoenix goes into liquidation due to coronavirus: documents

08 May 2020

DUBAI/SINGAPORE Phoenix Commodities Pvt Ltd, a trader of agricultural products with offices in Dubai and Singapore, is being liquidated after amassing more than $400 million in potential trading losses, according a document prepared by the liquidators seen by Reuters.

HSBC seeks judicial management for Singapore's Zenrock Commodities - sources

06 May 2020

SINGAPORE HSBC Holdings PLC has filed a court application to place oil trader Zenrock Commodities Trading Pte Ltd under judicial management over non-payment of dues and other issues, four people familiar with the matter said on Wednesday.

Supertanker rates ease after spike but poised for more gains on storage demand

24 Apr 2020

SINGAPORE Supertanker freight rates eased this week as surging demand for floating storage cooled and crude oil output is set to fall, but rates could jump again as fewer tankers become available and as traders take advantage of weak oil prices, sources said.

Supertanker rates ease after spike but poised for more gains on storage demand

24 Apr 2020

SINGAPORE, April 24 Supertanker freight rates eased this week as surging demand for floating storage cooled and crude oil output is set to fall, but rates could jump again as fewer tankers become available and as traders take advantage of weak oil prices, sources said.

RPT-China's Sinopec in talks to buy stake in Hin Leong's Singapore terminal - sources

23 Apr 2020

SINGAPORE, April 23 Chinese state energy company Sinopec is in early-stage talks with Hin Leong Trading Pte Ltd to buy a stake in an oil storage terminal that is partly owned by the Singapore trader, according to three sources with knowledge of the matter.

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