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Thu 18 Aug 2016, 10:34 GMT

Panoil Petroleum founder resigns


Roland Pang said he would use the break to re-evaluate his options.

Roland Pang, founder and shareholder of Singapore bunker supplier Panoil Petroleum Pte. Ltd has resigned from the company, effective 15th August.

Pang said in a note to traders this week that he had decided to resign in order to spend more time with his family and would use the break to re-evaluate his options.

Established in 1988, Panoil Petroleum operates a fleet of 11 vessels: Megalodon [pictured], MT Jazeel, MT Supernova, MT Oprah, MT Ophelia, Quinta, Estrella and Colossus. The Singapore supplier sells the intermermediate fuel oil (IFO) grades 500 centistoke (cSt), 380 cSt and 180 cSt, as well as standard and low-sulphur marine gas oil (MGO).

In the Maritime and Port Authority of Singapore's (MPA) ranking of suppliers by volume in 2015, Panol Petroleum was ranked 10th in a list of 59 suppliers in Singapore, up three places from the previous year. Below is a summary of the company's sales ranking since 2011.

2015: 10th out of 59 suppliers
2014: 13th out of 63 suppliers
2013: 21st out of 68 suppliers
2012: 24th out of 71 suppliers
2011: 23rd out of 79 suppliers

Contact details for Panoil Petroleum have been provided below.

Panoil Petroleum Pte. Ltd.
Tel: +65 6332 9388
Email: bunker@panoil.com.sg

Address
60 Albert Street, #10-08/09
OG Albert Complex
Singapore 189969

Image: The Megalodon bunker delivery vessel, operated by Panoil Petroleum.

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