Palmstone Petroleum's bunkering licence gets revoked

After breaching terms and conditions.

According to a release, the Maritime and Port Authority of Singapore (MPA) has cancelled Palmstone Petroleum Pte Ltd’s bunker supplier licence with effect from 8 July 2013. The cancellation of the licence follows Palmstone Petroleum Pte Ltd contravening the terms and conditions of the bunkering licence.

Palmstone Petroleum Pte Ltd was found to have breached Clause 3 of the terms and conditions of the Bunkering Licence (Bunker Supplier) by allowing another company to use its Bunker Delivery Notes (BDNs) to supply bunkers to customers of that other company. This is the third such case this year.

With the cancellation of its bunker supplier licence, Palmstone Petroleum Pte Ltd is no longer allowed to operate as a bunker supplier in the Port of Singapore. All bunker suppliers and bunker craft operators operating in the Port of Singapore are required to be licensed by MPA.

MPA would like to emphasise to all licensed bunker suppliers that the bunker supplier’s licence is not transferable under the terms and conditions of the bunkering licence.

All licensed bunker craft operators are also advised not to make use of any bunker tankers to deliver bunkers on behalf of any person, firm or company that is not a bunker supplier licensed by MPA. To report any instances of malpractice in the bunkering industry, please contact MPA’s Marine Services Department at msd@mpa.gov.sg.

In 2012, the Port of Singapore recorded bunker sales volume of 42.7 million tonnes, retaining its position as the world’s top bunkering port. Singapore strong performance in bunker sales can be attributed to its strategic location at the crossroads of international trade and the industry structure that results in competitive bunker prices and assured quality and safety standards.