FC Bunkers Singapore signs pledge at SIBCON 2024 to drive progress and excellence

From October 8 to 10, the 23rd edition of SIBCON, the Singapore International Bunkering Conference and Exhibition, took place. Organized by the Maritime and Port Authority of Singapore, this biennial event is one of the most influential and largest in the marine fuel industry.

The 2024 edition was centered around the theme “Accelerating the Maritime Fuel Transition”, drawing over 2,000 maritime professionals from nearly 40 different countries. The event was a key opportunity, featuring panel discussions, workshops, keynote speeches, and exchange of ideas among industry leaders.

For Fratelli Cosulich Bunkers Singapore, the conference was also a pivotal moment, as the company joined nine other bunker players in signing a commitment to collaborate toward advancing progress and excellence within Singapore's maritime industry.  

THE PLEDGE 

This Pledge is entered into on 8 October 2024 by Fratelli Cosulich Bunkers (S) Pte Ltd (hereinafter referred to as "the Pledge"), a company incorporated and existing under the laws of Singapore, with its principal place of business located at 79 Anson Road, #16-01/02, Singapore 079906, and the SINGAPORE CHAMBER OF MARITIME ARBITRATION (SCMA), a not-for-profit organization, with its registered office located at 28 Maxwell Road, #03-09 Maxwell Chamber Suites, Singapore 069120. SCMA and the Pledgee are desirous of working together to promote and enhance the capabilities and opportunities within the MariAme Singapore community and ecosystem. This Pledge contains the following aspirational and non-binding goals that the parAes hope to achieve. Now, therefore, the parties agree as follows:

1. The SCMA Rules Where appropriate, the Pledge shall give preferential consideration for the use of the SCMA Rules for the resolution of its mariAme or international trade disputes through arbitration, mediation, or other alternative dispute resolution mechanisms.

2. Active Participation in the SCMA’s Activities & Platforms The Pledge shall actively participate in SCMA’s activities, meetings and committees, where appropriate, and contribute to the discussions that shape the future of maritime arbitration in Singapore. The Pledgee may consider taking up membership with SCMA, including accessing exclusive member benefits, including priority participation at SCMA talks and events.

3. Support for the Maritime Singapore Community The Pledgee pledges to use its best endeavors to support the MariAme Singapore community and ecosystem. This can include (i) participating in talks and events organized by the SCMA; (ii) contributing to the development and dissemination of best practices in maritime arbitration and legal thought leadership; and (iii) providing support and opportunity to young mariAme legal and dispute resolution professionals in the form of internships, mentorship programmes, and educational seminars aimed at fostering the next generation of mariAme leaders.

4. Duration This Pledge shall remain in full force and effect unless earlier terminated in writing by either party.

SINGAPORE CHAMBER OF MARITIME ARBITRATION (SCMA) QUOTE

“Yesterday, ten MPA-licensed bunker players signed the SCMA Pledge at the Pre-Conference Symposium of the Singapore International Bunkering Conference and Exhibition (SIBCON) 2024. Our Chairman, Mr. Chao Hick Tin SC, represented the SCMA as the signatory. The signing of the SCMA pledge embodies a shared commitment to collaboration, progress, and excellence within the Maritime Singapore ecosystem. The ten bunker players - CONSORT BUNKERS PTE LTD, Equatorial Marine Fuel Management Services Pte Ltd, Fratelli Cosulich Bunkers (S) Pte Ltd, GLOBAL ENERGY TRADING PTE LTD, Golden Island Pte Ltd, Hong Lam Marine Pte Ltd, KENOIL Marine Services Pte Ltd, Marubeni International Petroleum (S) Pte Ltd, Sinopec Fuel Oil (Singapore) Pte Ltd and Victory Pte Ltd - pledge to work together with SCMA in 3 key areas of cooperation: (i) Where appropriate, give preferential consideration for the use of the SCMA Rules for dispute resolution; (ii) endeavour to participate in SCMA’s activities, meetings and committees, where appropriate; and (iii) participate in and contribute towards the Maritime Singapore ecosystem and community. We thank all ten pledgees and look forward to an enriching cooperation moving forward with them.”