Singapore’s High Court has issued a winding-up order against local bunkering company Costank (S) Pte Ltd, marking the formal close of a firm that was once among the city-state’s top marine fuel suppliers. The ruling was made on March 20, with a notice subsequently appearing in Singapore’s Government Gazette, as reported by Ship & Bunker.
Legal Proceedings and Background
According to Ship & Bunker, the winding-up petition was filed by an individual named Zhu Ling, with the case proceeding under Singapore’s Insolvency, Restructuring and Dissolution Act 2018. The development brings a legal conclusion to a company that had already been sidelined from active bunkering operations for several years.
Costank (S) Pte Ltd had its name removed from the Maritime and Port Authority of Singapore’s (MPA) official register of licensed bunker suppliers back in 2020, Ship & Bunker notes. Prior to that, the company had held a notable position in the market — ranking as high as 10th among Singapore’s bunker suppliers by volume in 2013. By 2018, however, its standing had declined to 16th place, down from 11th the year before.
Liquidators Appointed, Creditors Notified
Following the court’s ruling, Lau Chin Huat and Yeo Boon Keong of Technic Inter-Asia Pte Ltd have been named as joint and several liquidators, tasked with managing the company’s remaining affairs, according to Ship & Bunker. Creditors have been directed to submit their proof of debt to the appointed liquidators.
The case reflects the broader consolidation and market pressures that have reshaped Singapore’s bunkering sector over recent years, with a number of smaller and mid-tier suppliers having exited the licensed supplier list since the late 2010s.
Gulf Bunkering does not provide operational or security guidance. This article is for informational purposes only. Operators should consult flag state authorities, P&I clubs, and relevant advisories for decisions relating to transit planning.
Sources: Ship & Bunker
