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For GST-registered businesses

This scheme is designed to benefit businesses in the bunkering industry that make local purchases of approved marine fuel oil (“MFO”).

If you are approved under the Approved Marine Fuel Trader (MFT) Scheme, you do not need to pay GST when you make local purchases of approved marine fuel oil (e.g. MFO 380cst) from any GST-registered suppliers. This alleviates your cash flow by eliminating the need to pay GST upfront and to subsequently claim it back by obtaining a refund from IRAS.

On this page:
Applying for the scheme
List of Approved Marine Fuel Traders 

Applying for the scheme

To qualify for the scheme, you should hold a valid bunkering licence with the Maritime Port Authority of Singapore (MPA). You must also have good internal controls and maintain high standards of accounting and record-keeping. For more information, please refer to e-Tax Guide on Approved Marine Fuel Trader (MFT) Scheme (228KB).

If you wish to apply, please submit GST F16: Application for Approved Marine Fuel Traders Scheme (287KB) with the following documents to Comptroller of GST:
  • A concise description of the nature of your business (specify your main products, major suppliers and buyers of Marine Fuel Oil).
  • A copy of your bunker licence (valid for the next 9 months).
  • A copy of your latest year-end audited financial statements.

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List of Approved Marine Fuel Traders

Businesses that are approved under the Approved MFT Scheme as at 22 Oct 2012 are as follows:

S/No.

Unique Entity Number(UEN)/GST-Registration Number

Name of Approved Person

Date of Approval

Status
1 198802125N Consort Bunkers Pte Ltd 07/01/2005 Active
2 198602276R Searights Maritime Services Pte Ltd 07/01/2005 Active
3 199606769Z Bunker House Petroleum Pte Ltd 10/01/2005 Active
4 200206250R Northwest Resources Pte. Ltd. 14/01/2005 Active
5 199708501D Global Energy Trading Pte Ltd 24/01/2005 Active
6 A2500515J Golden Island Diesel Oil Trading Pte Ltd 31/01/2005 Active
7 199803255H Lukoil Asia Pacific Pte Ltd 01/02/2005 Active
8 200009382M Alliance Oil Trading Pte Ltd 03/02/2005 Active
9 199802984C Costank (S) Pte Ltd 03/02/2005 Active
10 199303409Z Sentek Marine & Trading Pte Ltd 17/02/2005 Active
11 198202357C Lian Hoe Leong & Brothers Pte. Ltd. 21/02/2005 Active
12 199802086M Standard Oil & Marine Services Pte Ltd 21/02/2005 Active
13 199805735H Panoil Petroleum Pte Ltd 15/03/2005 Active
14 197501519K Hin Leong Marine International (Pte) Ltd 18/03/2005 Effective to 18/03/2011
15 197800010N Ocean Bunkering Services (Pte) Ltd 18/03/2005 Active
16 199201808K O.W. Bunker Far East (Singapore) Pte Ltd 07/04/2005 Active
17 199006262H The Barrel Oil Pte Ltd 01/06/2012 Active
18 199801317C Fratelli Cosulich Bunkers (S) Pte Ltd 27/05/2005 Active
19 198602772E Prestige Marine Services Pte. Ltd. 06/06/2005 Effective to 14/06/2012
20 199302712D Gas Trade (S) Pte Ltd 17/06/2005 Effective to 18/06/2012
21 199708514H Wired Bunkering Pte Ltd 13/07/2005 Active
22 199707536Z Grindrod Trading (Asia) Pte Ltd 05/08/2005 Active
23 198105856H Ignition Point Pte Ltd 05/08/2005 Effective to 03/09/2009
24 200102395G Prosperbiz Petroleum (S) Pte Ltd 19/09/2005 Effective to 28/02/2011
25 198601202G Cathay Marine Fuel Oil Trading Pte Ltd 24/02/2006 Active
26 200210357G Singamas Petroleum Trading Pte. Ltd. 23/03/2006 Active
27 199507965W Consort Marine Services Pte Ltd 03/04/2006 Effective to 03/04/2009
28 200302438E Transocean Oil Pte. Ltd. 04/08/2006 Active
29 198100533E Bomin Bunker Oil Pte Ltd 09/10/2007 Active
30 199507292C UNI Petroleum Pte Ltd 07/10/2008 Active
31 198900529G Toyota Tsusho Petroleum Pte. Ltd. 21/11/2008 Active
32 200203404R Hir Huat Trading Pte. Ltd. 16/01/2009 Effective to 15/01/2012
33 199207096E Seven Seas Oil Trading Pte Ltd 30/07/2009 Active
34 200811016Z Brightoil Petroleum (S'pore) Pte. Ltd. 25/05/2010 Active
35 200920025G Vermont UM Bunkering Pte Ltd 01/07/2010 Active
36 200600562K Universal Energy Pte Ltd 28/07/2010 Active
37 200000671E Equatorial Marine Fuel Management Services Pte Ltd 08/12/2010 Active
38 A2500091D BP Singapore Pte. Limited 01/02/2011 Active
39 200006955E Chemoil International Pte. Ltd. 08/12/2011 Active
40 199307133N Sirius Marine Pte Ltd 12/03/2012 Active
41 200817172E Ocean Energy Bunkering Pte. Ltd. 01/05/2012 Effective to 24/09/2012
42 198103248W Hong Lam Marine Pte Ltd 22/10/2012 Active
 
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Related Items

Tax forms GST F16: Application for Approved Marine Fuel Traders Scheme (287KB) 
e-Tax guides Approved Marine Fuel Trader (MFT) Scheme (228KB)  

 
 
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Last Updated on 16 October 2012


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