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Bunker company in Singapore being liquidated

Bad news keeps emerging from the strained bunker sector, in which bunker company Coastal Oil Singapore, a local player in the world's largest bunker port, is now in the process of being liquidated.

Photo: /ritzau/AP/Wong Maye/

Bunker company Coastal Oil Singapore is now being liquidated.

This marks yet another negative announcement from the bunker sector, in which large as well as small players have been under pressure. According to Singapore authority ACRA, Coastal Oil Singapore is being liquidated with creditors' approval, show documents on the website, as media Manifold Times reported recently.

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