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The Maritime and Port Authority of Singapore (MPA) says that it has "assessed" that there will be "minimal disruption" to bunker supply activities at the Port of Singapore.

In a statement, the MPA said: "There are currently more than 60 bunker suppliers in Singapore, and OW Bunker Far East (Singapore) Pte Ltd accounted for less than three percent of the 42.6 million metric tonnes supplied in Singapore in 2013."

The port authority confirmed that it is also collaborating with the bunker industry and industry associations to mitigate any potential impact on bunkering operations in Singapore.

"To address any concerns from the industry, MPA is working with the Singapore Shipping Association (SSA) and the International Bunker Industry Association (IBIA) to conduct dialogue sessions shortly. MPA will also work closely with the various stakeholders to ensure that bunkering operations in Singapore continue as smoothly and normally as possible," the MPA said.

Singapore’s biggest independent oil trader, Hin Leong Trading (Pte.) Ltd., is preparing a lawsuit against a subsidiary of OW Bunker, according to court documents obtained by Reuters. The company is said to be seeking S$1.67 million ($1.3 million) from O.W. Bunker Far East (Singapore) Pte. Ltd. over the sale of goods.

Meanwhile, court documents are reported to show that another marine fuel business, Vanguard Energy Pte. Ltd., filed for bankruptcy in Singapore on October 29 - nine days before a bankruptcy order was issued against OW Bunker.