SINGAPORE (Nov 7): As of Nov 6, marine fuel supplier Transocean Oil has been barred from operating as a bunker supplier and bunker craft operator in the Port of Singapore.

This comes after investigations by the Maritime and Port Authority of Singapore (MPA) in March and April this year found “several falsifications of records and discrepancies in the stock movement logbooks on board the bunker tankers operated by Transocean which breached the terms and conditions of their bunker supplier and bunker craft operator licences”, says the authority in a press release on Monday.

MPA reminds all licensed bunker suppliers and bunker craft operators to adhere strictly to the terms and conditions of their bunker licences – and adds that it will “take firm action”, including the suspension or revocation of licenses, against any licensee who fails to do so.  

According to MPA statistics, Transocean Oil was ranked as the sixth-largest bunker supplier by volume in Singapore in 2016.

Citing industry sources, an article published by Reuters observed that Transocean had been “notably less active in the market in recent months” – and that its expulsion would have only a limited impact on the supply and price of marine fuels in Singapore.