Sign up
Log in Sign up
Wed 20 Oct 2010, 14:21 GMT

Glencore fuel oil trader resigns


Fuel oil desk in Singapore is reported to have been left with one trader.

A senior fuel oil trader at the Singapore office of global commodity trader Glencore has this week resigned from his post, according to news agency Reuters.

Wong Keng Seng, who has been employed with the firm since around 2002, resigned from his post on Tuesday 19th October.

The resignation comes only two months after another fuel oil trader, Tan Ming Cher, left the company after having worked for the firm for less than two years.

The latest departure has left Glencore's fuel oil trading desk with only team leader, Hon Kim Weng, according to market sources.

Hon and Wong previously worked together at oil major Shell before joining Glencore, whilst Tan was employed with JPMorgan up until 2008.

Glencore is expected to promote from within to fill the recently-vacated positions. It is understood that four members of staff were recently put on a trading course and that the successful candidates are due to be selected from the group.

The Asian fuel oil market has seen a number of personnel changes in recent months during a period of thin margins for traders. Earlier this year around 20 members of staff left BP Singapore's fuel oil and marine fuels trading teams to work for Hong Kong-listed Brightoil Petroleum.

In June, former Barclays Capital fuel oil trader Shaun Lim was appointed by Japanese investment bank Nomura as head of its Asian oil and products trading team.

In the past week, two other traders have resigned - Alan Ong from Kuo Oil and Colin Soh from Chemoil.

Hapag-Lloyd and DSV logo side by side. Hapag-Lloyd and DSV sign 18,000-tonne CO2e reduction agreement for sustainable marine fuels  

Two-year framework allows inclusion of alternative fuels beyond biofuels in shipping decarbonisation partnership.
Bangkok city skyline. Uni-Fuels opens Thailand office as part of Southeast Asia expansion  

Marine fuel supplier establishes Bangkok entity, appoints managing director with 15 years’ industry experience.
Washington State Hybrid-Electric 160-Auto Ferry vessel render. Corvus Energy to supply battery systems for Washington State Ferries hybrid vessels  

ABB selects Corvus for two new 160-vehicle ferries as part of $3.98bn electrification plan.
Vinssen and Mana Engineering sign MoU. Vinssen, Mana Engineering partner on hydrogen fuel cell retrofit for 800-teu feeder vessel  

South Korean and Dutch firms to pursue Lloyd’s Register approval for hybrid retrofit concept.
Hercules Elisabeth vessel. Hercules Tanker Management takes delivery of second Ultra-Spec vessel in China  

Hercules Elisabeth is the second of 10 hybrid-ready tankers designed for alternative fuels.
Wolf 1 vessel. Petrol Ofisi launches fuel supply tanker Wolf 1  

Turkish bunker supplier adds 1,750-dwt vessel with alternative fuel infrastructure to fleet.
BIMCO meeting. BIMCO to convene for adoption of biofuel clause and ETS provisions at February meeting  

Documentary Committee to consider new contractual frameworks for alternative fuels and emission trading scheme compliance.
Sea Change II vessel render. Incat Crowther and Switch Maritime develop 150-passenger hydrogen ferry for New York  

Design work begins on 28-metre vessel with 720 kg hydrogen capacity and 25-knot speed.
Aerial view of a container vessel. HIF Global signs heads of agreement with German eFuel One for 100,000 tonnes of e-methanol annually  

Deal covers supply from HIF’s Uruguay project, with e-methanol meeting EU RED III standards.
Welcoming of Kota Odyssey at Jordan’s Aqaba Container Terminal. PIL’s LNG-powered vessel makes maiden call at Jordan’s Aqaba port  

Kota Odyssey is Pacific International Lines’ first LNG-fuelled ship to call at the Red Sea port.




 Recommended