Image credit: Peninsula Petroleum

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Peninsula Petroleum has appointed Dennis Ho as its new Supply Manager in Singapore, according to Ho's updated LinkedIn profile.

Prior to the career change, Ho served as General Manager at Aegean Bunkering (Singapore) Pte Ltd between 2011 and 2017.

Ho has been involved in the marine fuel industry since the year 2000, during which time he has also been employed as Trading Manager at Seven Seas Oil Trading, Derivatives Manager at Koch Refining International, Manager at World Fuel Services, and Lead Bunker Trader at Oil Shipping Singapore.

Aegean - Singapore's 20th-biggest supplier by volume in 2017 - announced in November that it would be ceasing its bunker supply operation in Singapore from January after almost 11 years as a physical player at the city-state, but that it would still maintain a trading presence there.

Explaining the reason for the exit at the time, president Jonathan McIlroy said: "The bunkering market in general, and the Singapore market in particular, are extremely competitive. We had hoped that enforcement of mandatory mass flow meter (MFM)-equipped bunker barging in January would have driven commercial improvement in the Singapore market, allowing Aegean to compete profitably. However, 2017 has seen heightened commercial pressures in Singapore, and as a result, management has determined that Aegean's resources can be more profitably deployed elsewhere."

"We will continue to employ a team of traders and support staff who will actively support our valuable clients in this market," McIlroy added.

According to Ho's LinkedIn profile, he left Aegean in October and began working for Peninsula in February.

Peninsula launched its Singapore bunker operation in 2006. The company's office is located at Suntec Tower Two.

Peninsula lists Singapore as one of its physical supply locations. At the time of writing, the company is not included in the Maritime and Port Authority of Singapore's (MPA) list of licensed bunker suppliers.

Towards the end of last year, Peninsula upped its global working capital facilities to $400 million, which included a new syndicated facility led by HSBC Singapore that created $50 million of new liquidity and delivered an overall enhanced diversified financing package for the group of $150 million in Asia.