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NWE gasoil, ULSD cracks at multi-year lows point to refinery run cuts

Sep 17, 2020

Platts

Northwest European cracking margins for 0.1% gasoil and ultra low sulfur diesel have hit long-term lows, which has led to expectations that refineries across Europe will start cutting runs, sources said.
Bunker sales in Panama rise in Aug with strong increase in high sulfur segment

Sep 16, 2020

Platts Bunkerworld .

Bunker sales in Panama climbed for the second consecutive month in August, after a steep fall in June, with high sulfur IFO 380 fuel showing the strongest increase.
ARA gasoil barges at three-month high versus cargoes

Sep 15, 2020

Platts Bunkerworld .

Gasoil barges in the Amsterdam-Rotterdam-Antwerp hub have risen to a three-month high versus cargoes amid a mix of factors on both the supply and demand sides of the market.
LSGO futures net speculative length slips to four-month low amid largest increase in short positions on record

Sep 14, 2020

Platts Bunkerworld .

Speculative net long positions in ICE low sulfur gasoil futures fell 42,389 contracts to 21,114 in the week to Sept. 8, a four-month low, according to Intercontinental Exchange data.
ARA fuel oil stocks up 16.7% on week to 1.233 mil mt: Insights Global

Sep 11, 2020

Bunkerworld

Stocks of fuel oil in the Amsterdam-Rotterdam-Antwerp hub, as measured by Insights Global, rose 16.7% to 1.233 million mt in the week to Sept. 9.
Gibraltar Hi-5 bunkers spread at fresh low amid tightness in HSFO

Sep 9, 2020

Platts Bunkerworld .

VLSFO supply remains ample amid demand destruction caused by COVID-19.
European HSFO values near 2019 prices, bucking expectations

Sep 8, 2020

Platts Bunkerworld .

The spread between physical prices for 3.5%S FOB Rotterdam barges in 2019 and 2020 reached as close as $4/mt year on year on Sept. 1, assessed at $257/mt, before the spread widened again.
Q2 container volumes fall 13% on year; recovery likely in Q3: CMA CGM

Sep 8, 2020

Platts

Going ahead, the third quarter results should mark a new improvement, the carrier said.
Hong Kong's OOCL withdraws 9 October trans-Pacific sailings

Sep 4, 2020

Platts Bunkerworld .

These blanked sailings fall on October 3, 4, 5, 6, 9, 10, and 17, which coincide with China's upcoming Golden Week holiday.
ARA fuel oil stocks down 4% on week to 1.057 mil mt: Insights Global

Sep 4, 2020

Bunkerworld

Stocks of fuel oil in the Amsterdam-Rotterdam-Antwerp hub, as measured by Insights Global, fell 4% to 1.057 million mt in the week Sep 2.
MARINE FUEL 0.5%S: Ample supply weighs on global marine fuel markets in September

Sep 2, 2020

Platts Bunkerworld .

Traders estimate the volume of LSFO arriving in Singapore in September at 2.5 million-3 million mt.
Heavy distillates stockpiles tumble most in 2020 at Fujairah

Sep 2, 2020

Platts

Fujairah oil product stockpiles dropped to a two-week low on Aug. 31, with heavy distillates such as marine bunkers tumbling 14% week on week, the biggest decline since December 2019.
Listen: Asian HSFO markets endure IMO 2020, coronavirus challenges

Aug 31, 2020

Platts Bunkerworld .

Light sulfur fuel oil has been the main marine fuel of choice worldwide, but high sulfur fuel oil has held its stead in Asia.
Japanese companies advance plans for world's first marine based carbon capture system

Aug 31, 2020

Platts

Project being conducted with support from the Maritime Bureau of Japan's MLIT.
ONE offers new service connecting ports of Far East Russia with Busan

Aug 27, 2020

Platts

The first sailing on the route is expected to take place from Busan on Sept. 14.
Taiwan ports see 15% increase in marine fuel volumes in August on demand diversion: sources

Aug 27, 2020

Platts Bunkerworld .

"We have seen an increase in a number of bunker-only call ships that don't typically come to Taiwan," said a source CPC Corp.
MGO-ULSFO bunker spread hits 8-month low in Europe

Aug 25, 2020

Platts Bunkerworld .

Ultra low sulfur fuel oil remains cheaper than marine gasoil but only marginally as price differentials narrowed to an eight-month low in Europe, S&P Global Platts data showed.
Rotterdam Hi-5 bunker spread hits all-time low

Aug 24, 2020

Bunkerworld

The premium of very low sulfur fuel oil over its high sulfur equivalent at Rotterdam port fell to a record low on Aug. 21, as the latter stays resilient to bearish fundamentals in the global oil complex.
European diesel barge and paper markets hit 2-month low

Aug 21, 2020

Platts

European diesel markets have slipped lower, with traders reporting that demand has stalled at the same time that new arrivals are weighing on the market.
Bunker prices in the Pacific Northwest hike to July levels on strengthened demand, tight avails

Aug 20, 2020

Platts Bunkerworld .

Prices for bunker fuels in Vancouver and Seattle rose this week to levels last seen in end-July due to an increased demand coupled with tight supply, according to market sources.
Singapore Sept ex-wharf marine fuel term indications increase as oversupply eases

Aug 19, 2020

Platts

Some traders said they were also asking for September-loading MF 0.5%-S term price indications to be based on benchmark FOB Singapore Marine Fuel 0.5% cargo assessment.
VLSFO concerns remain in maritime industry's sights

Aug 19, 2020

Platts Bunkerworld .

As fuel oil properties are fluctuating, quality and safety problems will continue to be a challenge, BIMCO said.
Fujairah bunker volumes edge up in July after hitting lowest this year

Aug 17, 2020

Bunkerworld

Bunker volume at the Port of Fujairah in July rose 1% on the month after hitting a seven-month low in June, according to a report seen by S&P Global Platts.
IMO 2020 transition smoother than expected: Bunker One

Aug 14, 2020

Platts Bunkerworld .

"The industry experienced basically no claims in late 2019 and early 2020," Steffen Kortegard said.
INTERVIEW: VLSFO's shorter shelf life causing storage concerns: Veritas Petroleum

Aug 13, 2020

Platts

"On average, the shelf life is around three months for 0.5%S very low sulfur fuel oils," Bee said.
Hong Kong's marine fuel 0.5%S differential hits 2-month low as 14-day quarantine diverts demand

Aug 12, 2020

Platts Bunkerworld .

"Demand has dropped by at least 40% in August," one supplier said.
Europe and Africa residual fuel: Key market indicators this week

Aug 10, 2020

Bunkerworld

The summer lull and muted demand for fuel oil compared with pre-coronavirus pandemic levels meant European market fundamentals remained little changed.
ARA fuel oil stocks up 8% on week to 1.356 mil mt: Insights Global

Aug 7, 2020

Platts Bunkerworld .

Stocks of fuel oil in the Amsterdam-Rotterdam-Antwerp hub rose 8% to 1.356 million mt in the week to Aug. 6, according to data from Insights Global, as the market grappled with weak demand amid the summer lull.
Weaker dollar, US crude draw push oil higher despite economic headwinds

Aug 6, 2020

Platts Bunkerworld .

Oil futures settled higher Aug. 5 as a weakened US dollar and large US crude draw offset weak US employment data.
Low sulfur bunker fuel gap widens at Rotterdam

Aug 5, 2020

Platts

The pricing gap between 0.1%S marine gasoil and 0.5%S marine fuel -- both IMO 2020-compliant fuels -- has widened again at Rotterdam after the start of IMO's sulfur cap rule earlier this year saw the two come almost within touching distance of each other.
MARINE FUEL 0.5%S: Global marine fuel supplies still holding back price recovery

Aug 4, 2020

Platts Bunkerworld .

Global marine fuel 0.5%S prices improved in July, though demand still was below normal levels. Market sentiment was overall more positive than in June, though fundamentals of oversupply and slow demand resulted in a short-term bearish outlook for much of the globe.
Asia residue fuel market - Key market indicators this week

Aug 3, 2020

Platts

Strong sales in the Singapore low sulfur bunker fuel market seen in the week ended July 30 are likely to continue into first-half August, according to bunker suppliers, as margins inch higher on the back of tightening supply in August.
ARA fuel oil stocks fall 14% on week to 1.255 mil mt: Insights Global

Jul 31, 2020

Platts Bunkerworld .

Stocks of fuel oil in the Amsterdam-Rotterdam-Antwerp hub fell 13.8% to 1.255 million mt in the week to July 30, according to data from Insights Global, despite market sources citing poor demand during the week.
Singapore marine fuel 0.5%S timespread, cash differentials at 5-month highs as cargo inflow falls

Jul 30, 2020

Platts Bunkerworld .

Singapore Marine Fuel 0.5%S timespreads and cash differentials hit five-month highs July 29 amid widespread expectations the inflow of Western arbitrage cargoes into Asia will fall in August.
FUJAIRAH DATA: Oil product stocks grow for first time in five weeks

Jul 29, 2020

Platts Bunkerworld .

Refined oil product stockpiles at Fujairah snapped the longest decline in a year, with rises in heavy and middle distillates in the latest week more than making up for a drop in gasoline and other light distillates.
Singapore 10/500 ppm gasoil spread hits 3-year low as ULSD supply tightness eases

Jul 28, 2020

Platts

"I'm not seeing firm fundamentals for 500 ppm sulfur gasoil in the region, to be honest," a Singapore-based gasoil trader said.
Fuel oil sulfur spreads remain narrow following loss of bunker demand

Jul 28, 2020

Platts Bunkerworld .

"It's a lack of demand everywhere, volumes are down," a trader said.
Rotterdam port fully operational in H1, throughput lower on coronavirus

Jul 24, 2020

Platts Bunkerworld .

The port expects "a cautious recovery of the economy" for the rest of the year.
OIL FUTURES: Crude rises on coronavirus vaccine hopes

Jul 23, 2020

Platts

The US government announced a contract with Pfizer and a German biotechnology company to supply 100 million doses of a vaccine by December.
North Asia high sulfur bunker fuel demand jumps in July as more ships install scrubbers: traders

Jul 22, 2020

Bunkerworld

Supply of the grade was tight in Hong Kong as scrubber-installed ships have been taking big stems.
Singapore August LSFO arbitrage inflow set to fall on weak Asian prices: traders

Jul 20, 2020

Platts Bunkerworld .

Lower freight rates did little to help inflow to East increase.
HONG KONG DATA: May fuel oil imports rise 59.4% on month at 5.32 mil barrels

Jul 16, 2020

Platts Bunkerworld .

Hong Kong imported 846,491 kiloliters, or 5.32 million barrels, of fuel oil in May, up 59.4% from April and up 2.5 times year on year, data released July 15 by Hong Kong's Census and Statistics Department showed.
Singapore ex-wharf low sulfur marine fuel spread to gasoil widens on slow demand

Jul 14, 2020

Bunkerworld

"We have been discussing spot volumes a month in advance because we anticipated demand to be slow," a supplier said
Low scrappage rates weighing on tanker markets: sources

Jul 13, 2020

Platts Bunkerworld .

Sustained newbuild deliveries is expected to put further pressure on the spot tanker market.
FUJAIRAH DATA: Stockpiles slump to two-month low, light distillates down 9%

Jul 9, 2020

Platts Bunkerworld .

Stockpiles are now the lowest since May 4 and down 11% since the record 30.71 million barrels on June 1.
ARA diesel, gasoil stocks rise 2.5% on week to 2.679 mil mt: Insights Global

Jul 9, 2020

Platts Bunkerworld .

Diesel and gasoil inventories in the Amsterdam-Rotterdam-Antwerp trading hub increased 2.5% week on week to 2.679 million mt as of July 8, Insights Global data released July 9 showed.
Platts MOC Singapore HSFO swap trades jump 21% in June

Jul 7, 2020

Platts Bunkerworld .

HSFO demand surged in June as Middle Eastern countries increased purchases for power plants.
Singapore HSFO viscosity spread at narrowest since mid-April on 380 CST demand

Jul 7, 2020

Bunkerworld

Amid a surge in demand and tighter supply of 380 CST high sulfur fuel oil, the Singapore HSFO viscosity spread, measured as the difference between the 180 CST and 380 CST grades, narrowed to a near three-month low at $2.33/mt July 7, S&P Global Platts data showed.
MARINE FUEL 0.5%S: Global VLSFO market struggles to cope with excess of supply, poor demand

Jul 2, 2020

Bunkerworld

In Singapore, June demand- as measured by low sulfur bunker sales- is expected to be slightly lower than May's sales.
HSFO East/West spread widens on stronger Asian demand: sources

Jun 30, 2020

Platts Bunkerworld .

"In general most of the HSFO isn't staying locally, there is less overall coming out and most of it gets sent to USGC," a source said.
Japan's ENEOS settles Apr-Jun fuel oil prices 46-48% lower on oil price drop

Jun 26, 2020

Platts Bunkerworld .

Japan's largest refiner ENEOS, previously known as JXTG Nippon Oil & Energy, has settled with domestic industrial customers its April-June quarter fuel oil prices around 46-48% lower than the previous quarter due mainly to lower oil prices, coupled with a stronger yen against the US dollar.
HSFO availability in Rotterdam wavers, May Russian fuel oil output down

Jun 25, 2020

Platts

There were just five 3.5%S FOB Rotterdam barge offers in the June 22 Platts Market on Close process.
Shanghai low sulfur bunker prices stir interest as premium to Singapore shrinks to near $3/mt

Jun 25, 2020

Platts Bunkerworld .

The slim premium means Chinese ports could potentially attract more business from ships that usually refuel in Singapore.
Crude climbs amid tightened supply and demand outlooks

Jun 23, 2020

Platts Bunkerworld .

Crude futures edged higher June 22 as the market weighed a tightening global supply picture against uncertain demand outlooks amid a spike in COVID-19 cases around the world.
Rotterdam VLSFO bunkers at three month high

Jun 22, 2020

Bunkerworld

"Locally, [European] demand is picking up as well, and margins start to find some color," one source said.
Backwardation eases on release of stored barrels

Jun 22, 2020

Platts Bunkerworld .

Backwardation in the Dubai crude futures intermonth spreads narrowed in mid-morning trade in Asia June 22 after Middle East sour barrels were heard being sold out of floating storage for prompt loading.
Europe and Africa residual fuel: Key market indicators

Jun 22, 2020

Platts Bunkerworld .

While Amsterdam-Rotterdam-Antwerp fuel oil stocks fell last week, sources said the drop was the result of a weaker contango rather than returning demand.
TANKERS: Premiums rise for Pajaritos, Mexico, loadings on new terminal rules

Jun 19, 2020

Platts Bunkerworld .

"The cost of man hours is quite significant," a shipowner said.
Taiwan Formosa likely to skip LSFO exports for Jul loading on run cut

Jun 18, 2020

Bunkerworld

"We will hold DSAR [desulfurized atmospheric residue] for RFCC feedstock" rather than blending it into low sulfur fuel oil," the source said.
Japan marine fuel 0.5% differentials slumps to 10-month low as demand destruction persists

Jun 16, 2020

Platts Bunkerworld .

The delivered Tokyo Bay marine fuel 0.5% differential to Singapore 10 ppm gasoil cargo assessments plunged to a 10-month low of minus $60.14/mt on June 15, S&P Global Platts data showed as demand destruction from the COVID-19 outbreak continued to take its toll on the market.
Singapore 180/380 CST HSFO spread widens to 3-month high on strong 180 CST demand

Jun 11, 2020

Bunkerworld

The strong demand for 180 CST high sulfur fuel oil for power generation has widened the spread between FOB Singapore 180 CST HSFO and 380 CST HSFO, otherwise known as the viscosity spread, to a three-month high of $15.40/mt on June 10, fuel oil traders in Singapore said.
Singapore July ex-wharf MF 0.5%S bunker term talks inconclusive on wide bid-offer spread

Jun 10, 2020

Platts Bunkerworld .

Negotiations for the term supply of Singapore ex-wharf marine fuel 0.5%S bunker for July were largely inconclusive so far, as the market was still awaiting cues on near-term price direction amid a wide bid-offer spread, market sources said June 9.
Repsol expands VLSFO offer to 15 Spanish ports

Jun 9, 2020

Platts Bunkerworld .

Spanish integrated producer Repsol said June 8 it has begun to offer very low sulfur fuel oil for loading into trucks at 15 of its Spanish ports.
Northwest European HSFO crack up on storage, US feedstock demand

Jun 5, 2020

Platts Bunkerworld .

Post-IMO-2020 sees HSFO continue to show resiliency in finding new outlets for consumption.
Fujairah product stocks rebound to record led by marine, power fuels

Jun 4, 2020

Platts

"Demand for storage is still there, but the contango has been reduced so it's not as attractive as it was a month ago," a source in Fujairah said.
Bunkering body eyes spread of bunker licensing systems at hubs

Jun 2, 2020

Platts Bunkerworld .

Advocates of the system say it provides a more consistent standard of service.
China to launch 0.5% LSFO bunker fuel futures contract on June 22

May 29, 2020

Platts Bunkerworld .

The Shanghai International Energy Exchange (INE) will launch its its low sulfur fuel oil bonded bunker futures contract on June 22.
Singapore viscosity spread above $10 mt for second day as fall in demand outpaces drop in supply

May 27, 2020

Platts

180 CST HSFO demand from the power sector is holding those prices relatively steady, a trader said.
Tracing the liquidity crisis that roiled oil traders from Shandong to Singapore

May 27, 2020

Bunkerworld

Many of the smokestack refiners in the northeastern province of Shandong used questionable credit practices.
OIL FUTURES: Crude hits 10-week high as economic restarts prompt demand optimism

May 26, 2020

Platts Bunkerworld .

Crude futures settled higher amid signs that the continued reopening of economies in the US and Europe could bring balance to oversupplied oil markets in coming weeks.
INTERVIEW: Euronav upbeat on oil demand, prospects post-storage boom

May 22, 2020

Platts

"We continue to grow the company, consolidation has a long way to go in our sector," Stoop said.
Persian Gulf to Japan VLGC rates slide to 14-month low

May 21, 2020

Platts Bunkerworld .

"Rates ex AG (have been) falling because of lesser tons in May as Saudi cuts, Indians seems to have taken too much cargoes and have been looking to re-sell," a source said.
Japan's MOL subsidary plans LNG-fueled ferries to curb carbon footprint: Wartsila

May 20, 2020

Platts Bunkerworld .

The ships are scheduled to commence operations in 2023 on the Osaka-Beppu route.
INTERVIEW: Move to IMO's HSFO carriage ban 'very smooth': Precious Shipping MD

May 19, 2020

Surabhi Sahu

PSL has had all its ships successfully switch over to LSFO without any issues.
Bunker fuel demand to fall 5% on year in 2020, but stay stronger than other transport fuels: IEA

May 15, 2020

Platts Bunkerworld .

Bunker fuel demand is forecast to fall 5% this year, far less than other fuels, with some sectors.
TANKERS: USGC VLCC freight at 9-month low as weak demand, natural positions take hold

May 15, 2020

Platts

Freight for VLCCs loading on the US Gulf Coast dropped 9% Thursday to bring rates to their lowest levels since August 2019.
EU opens Eur112 million call for low-carbon energy research

May 12, 2020

Platts Bunkerworld .

The European Commission is making Eur112 million ($122 million) available for low-carbon energy research, including CO2 storage pilots, carbon capture and use/storage for heavy industry and converting industrial waste heat into electricity.
Commodity traders feel the heat in Hin Leong aftermath

May 11, 2020

Bunkerworld

Companies are also scrutinizing the use of letters of indemnity in place of bills of lading.
Australia's AMSA detains bulk carrier on violation to IMO's HSFO carriage ban

May 8, 2020

Platts Bunkerworld .

"The non-compliant fuel oil on board had sulfur content of 1.38%," AMSA said.
Hong Kong marine fuel premiums rebound as demand moves away from Singapore

May 6, 2020

Platts

Shipowners opt to take bunker fuel from the port given its attractive valuations instead of the bunkering hub of Singapore.
Tanker owners see freight rates slump; charterers look to profit

May 5, 2020

Platts Bunkerworld .

Talks surrounding dirty tanker conversions to the clean tanker market have quelled in light of the sharp dropoffs experienced in the latter.
Singapore's fuel oil imports from the Middle East unlikely to rise in May on high freight rates, inventories

May 4, 2020

Platts

Currently, the volume of fuel oil in floating storage around Singapore stands around 4 million-4.2 million mt, traders said.
OIL FUTURES: Crude falls as US-China trade tensions resurface

May 4, 2020

Platts Bunkerworld .

"The resumption of the trade war will be detrimental to oil prices over the long term," Axicorp chief global markets strategist said.
Fujairah light distillates imports fell to record low in March: Kpler

May 4, 2020

Bunkerworld

Traders were storing more gasoline and gasoil at sea in March as lockdowns curbed commuting and leisure driving, market analysts said.
MARINE FUEL 0.5%S: Markets in April cope with bearish sentiment amid COVID-19 pandemic

May 1, 2020

Platts Bunkerworld .

After a torrid March, April brought a little respite for Asian refiners which produce 0.5% sulfur marine fuel with a slight uptick in demand, although bearish factors on the supply side due to the coronavirus pandemic still weighed heavily on the market.
ARA fuel oil stocks jump 18% on week to 1.604 mil mt: Insights Global

May 1, 2020

Platts

Stocks of fuel oil in the Amsterdam-Rotterdam-Antwerp hub jumped 18 % to 1.604 million mt in the seven days to Wednesday.
OIL FUTURES: WTI gains on producer cuts, but rest of complex slides as economic storm clouds gather

May 1, 2020

Bunkerworld

NYMEX WTI futures settled higher Friday as more producers announced output cuts, but the rest of the oil complex declined as weak economic data weighed on demand outlooks.
Singapore's MPA unveils S$27 mil aid package for maritime industry amid COVID-19

Apr 30, 2020

Surabhi Sahu

The package will take effect from May 1, 2020.
OIL FUTURES: Crude rally extends as market eyes producer cuts, economic restarts

Apr 30, 2020

Platts

Crude prices settled sharply higher for a second session Thursday as stepped-up producer cuts underscored improved demand outlooks.
VLSFO hits new lows in Europe on muted demand

Apr 28, 2020

Platts Bunkerworld .

Coronavirus pandemic continues to affect global demand.
Asia tanker freight rates at record high amid supply squeeze, but payment delays likely: traders

Apr 24, 2020

Platts Bunkerworld .

"All sectors of tankers are very firm all over the world," a chartering executive with a commodities trading company said.
OIL FUTURES: Prices climb as Trump threatens Iranian warships

Apr 23, 2020

Platts Bunkerworld .

Oil futures settled higher Wednesday on news that US President Donald Trump threatened to take military action against Iranian warships, and on an uptick in refined product demand.
Fujairah bunker traders feel ripple effect of crude price collapse

Apr 22, 2020

Platts Bunkerworld .

Bunker traders noted a steep decline in VLSFO prices Tuesday trading in Fujairah, with trades heard below $180/mt.
Singapore's oil trading, bunkering sectors resilient despite Hin Leong crisis: statement

Apr 22, 2020

Surabhi Sahu

The Singapore bunkering sector is well diversified with other licensed bunker suppliers, including Minerva and TFG Marine.
Singapore marine fuel market garners support on Hin Leong debacle

Apr 22, 2020

Rajesh Nair

Cancellations by OBS had led to an increase in bunker inquiries in the spot market since last week, suppliers and traders said.
Minerva Bunkering, TFG Marine awarded new bunker licenses in Singapore

Apr 21, 2020

Platts Bunkerworld .

These two new license holders will increase the supply of IMO 2020 compliant marine fuel.
Singapore oil trader Hin Leong's founder OK Lim blamed for derivatives, inventory losses - filing

Apr 20, 2020

Platts Bunkerworld .

Singapore oil trader Hin Leong Trading Pte. Ltd.'s founder Lim Oon Kuin has been blamed for financial mismanagement and reselling of inventory.
Singapore light distillate stocks surge to 13-month high on sinking gasoline demand

Apr 17, 2020

Platts Bunkerworld .

Commercial onshore light distillate stocks in Singapore, the region's largest oil trading hub, ballooned to a 13-month high in the week ended Wednesday, as regional demand for gasoline ground to a halt amid the global effort to combat COVID-19.
FUJAIRAH DATA: Oil product stocks climb to highest since record in February

Apr 16, 2020

Platts Bunkerworld .

Volumes of oil products held in storage at Fujairah climbed to their highest since the all-time high seen in February as tumbling demand from the coronavirus pandemic left more supplies in the eastern UAE port.
Asia LSFO bunker fuel market buckles under pressure despite steady demand

Apr 16, 2020

Platts Bunkerworld .

Spot market differentials for IMO-compliant marine fuels have cracked to the lowest in seven months despite recent data showing firm demand for shipping fuel at the world's biggest bunkering port of Singapore.