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.


Monjasa Oil & Shipping Trainee (MOST) trainees. Monjasa opens applications for global trainee programme  

Marine fuel supplier seeks candidates for MOST scheme spanning offices from Singapore to New York.

Singapore's first fully electric harbour tug. Singapore's first fully electric tug completes commissioning ahead of April deployment  

PaxOcean and ABB’s 50-tonne bollard-pull vessel represents an early step in harbour craft electrification.

Fuel for thought: Hydrogen report cover. Lloyd's Register report examines hydrogen's potential and challenges for decarbonisation  

Classification society highlights fuel's promise alongside safety, infrastructure, and cost barriers limiting maritime adoption.

Bureau Veritas and Straits Bio-LNG sign MoU. BV Malaysia partners with Straits Bio-LNG on sustainable biomethane certification  

MoU aims to establish ISCC EU-certified biomethane production and liquefaction facility in strategic alliance.

Molgas Energy logo. Molgas becomes non-clearing member at European Energy Exchange  

Spanish energy company joins EEX as it expands European operations and strengthens shipper role.

Yiannis Diamandopoulos, Elinoil. Diamandopoulos appointed CEO of Elinoil as Aligizakis becomes chairman  

Greek marine lube supplier announces leadership changes following board meeting on 5 January.

Sustainable Marine Fuel Services webinar hosted by BV graphic. Bureau Veritas to host webinar on sustainable marine fuel transition challenges  

Classification society to address regulatory compliance, market trends, and investment strategies in February online event.

Inchcape Shipping Services logo. Inchcape to provide bunkering services from new Indonesian offices  

Port agency establishes presence in key bulk and tanker operation hubs handling 150 calls annually.

CPN launch of B100 marine biodiesel supply in Hong Kong graphic. Chimbusco Pan Nation launches B100 biodiesel supply in Hong Kong  

Bunker tanker Guo Si becomes Hong Kong's first Type II certified vessel for pure biodiesel operations.

Vox Apolonia vessel. Van Oord completes Dutch beach replenishment using 100% bio-LNG  

Dredger Vox Apolonia deposited 1 million cbm of sand at Noord-Beveland beach under Coastline Care programme.





 Recommended