Business

Singapore-based Vermont UM Bunkering directors, staff charged for fraud

Vermont Bunkering had dishonestly induced its customers to make excess payments totalling over US$8 million, says CPIB.

Published

9 years ago

December 1, 2017

Admin

Directors Poh Fu Tek and Koh Seng Lee, and one former bunker manager Lee Kok Leong of Singapore-based Vermont UM Bunkering was charged for cheating and criminal breach of trust offences under the Penal Code at a Singapore court on Thursday.

‘Through these alleged fraudulent transactions, Vermont Bunkering had dishonestly induced its customers to make excess payments totalling over US$8 million,’ said Singapore’s Corrupt Practices Investigation Bureau (CPIB).

According to CPIB, the Penal Code offences the trio were charged are as follows:

150 counts of engaging in a conspiracy to cheat customers of Vermont Bunkering by delivering invoices indicating a higher quantity of marine fuel had been delivered when in fact a lower quantity was delivered. As a result, these customers were dishonestly induced to make excess payments to Vermont Bunkering. All these constituted offences punishable under section 420 read with section 109 of the Penal Code (Cap 224, 2008 Rev Ed).
One count of engaging in a conspiracy to commit criminal breach of trust by dishonestly misappropriating approximately 250 metric tons of marine fuel oil entrusted to Vermont Bunkering, an offence punishable under section 406 read with section 109 of the Penal Code (Cap 224, 2008 Rev Ed).

Vermont Bunkering and Poh will be further charged with 18 counts of abetment by engaging in a conspiracy to disguise property representing benefits from criminal conduct. This was carried out by falsely purporting that various quantities of fuel oil had been sold to Vermont Bunkering – an offence under the Corruption, Drug Trafficking and Other Serious Crimes (Confiscation of Benefits) Act [CDSA].

‘This is the first time a company (i.e. legal person) will be prosecuted for offences under the CDSA. An individual who commits an offence under section 47 of the CDSA shall be liable on conviction to a fine not exceeding $500,000 or to imprisonment for a term not exceeding 10 years or to both; if the person is not an individual, a higher fine not exceeding $1 million may be imposed,’ commented CPIB.

On 10 October, former cargo officers of Vermont Bunkering Lee Peck Yong and Loh Cheok San, together with Lee Kok Leong, were each charged with one count of criminal conspiracy to commit cheating by deceiving Vermont Bunkering into paying them even larger commissions than the sum being used to facilitate the illegal marine fuel oil buy-back transactions.

‘As a result, Vermont Bunkering was dishonestly induced to pay a larger sum for the marine fuel,’ CPIB adds.

‘CPIB had worked with the Maritime and Port Authority of Singapore (MPA) on this case and received valuable assistance from them.

‘Singapore adopts a zero tolerance approach towards corruption and criminal activities. The CPIB takes a serious view of any corrupt and criminal practices, and will not hesitate to take action against any party involved in such acts.’

MPA on 28 April, 2016 revoked the bunker supplier and bunker craft operator licences of Vermont Bunkering due to discrepancies and wrongful declarations in the records kept on board their bunker tankers.

Photo credit: Freeimages/foxumon

Alternative Fuels

Towngas pushes for green methanol commercialisation under Hong Kong’s Five-Year Plan

Towngas recommends making full use of Hong Kong’s advantages as an international hub by improving port facilities for green methanol bunkering.

Published

12 hours ago

August 5, 2026

Admin

Towngas pushes for green methanol commercialisation under Hong Kong's Five-Year Plan

The Hong Kong and China Gas Company (Towngas) on Tuesday (4 August) has called for the Hong Kong government to boost the city’s green methanol bunkering capabilities as part of its first Five-Year Plan covering 2026 to 2030.

The company submitted its recommendations during the government’s public consultation on the plan, proposing measures to support low-carbon shipping in Hong Kong.

Among its key recommendations, Towngas proposes making full use of Hong Kong’s advantages as an international hub by improving port facilities for green methanol bunkering.

The company also urged the government to accelerate the commercialisation of green methanol and take the lead in developing an internationally aligned certification system for green fuels.

Beyond green methanol, it also proposes establishing a new mechanism for trading green commodities, as well as expanding innovative financial instruments such as green infrastructure REITs, thereby consolidating Hong Kong’s position as a green finance and trading centre.

The recommendations form part of a broader package covering green energy transition, innovation and technology, and green finance, aimed at aligning Hong Kong’s development with China’s 15th Five-Year Plan while supporting the city’s long-term economic and environmental objectives.

Photo credit: Hong Kong and China Gas Company
Published: 5 August, 2026

Business

ZEMBA to join Center for Green Market Activation from 1 September

During its next phase of ZEMBA’s strategy, it is focused on continuing to drive innovation and economies of scale that enable deep decarbonisation in maritime transport.

Published

13 hours ago

August 5, 2026

Admin

Zero Emission Maritime Buyers Alliance (ZEMBA) on Tuesday (4 August) said it will transition to become a programme of the Center for Green Market Activation (GMA) on 1 September, after three years of incubation at the Aspen Institute.

With two completed tenders that delivered three new ultra-low-carbon fuel pathways into the maritime market and nearly 40 multi-year contracts to date, ZEMBA is focused on its next phase of scaling impact and expanding opportunities for companies to address Scope 3 transportation emissions.

“We are deeply grateful to the Aspen Institute Energy and Environment Program for its leadership and commitment to market-based sustainable solutions,” said Ingrid Irigoyen, President and CEO of ZEMBA.

“The Institute’s support as an administrative home during our start-up phase was tremendously successful. Now, ZEMBA is ready for the next step in our evolution, which is why we are seizing the opportunity to create multiplier effects and efficiencies across a range of hard-to-abate sectors by joining an organization specifically created for that purpose.”

ZEMBA’s CEO and core procurement staff will transition to GMA to ensure continuity of program leadership and operations. In addition to having provided key technical support for ZEMBA since 2023, GMA is working to scale the adoption of low-carbon goods and services within a number of high-emitting industries such as aviation, trucking, cement and concrete, and chemicals.

This transition will enable companies to participate in a coordinated suite of interventions across hard-to-abate sectors and transport modes, supported by shared infrastructure, consistent procurement approaches, and cross-sector learnings.

ZEMBA is developing new ideas to scale impact, expand fuel and technology pathways, and engage a broader set of stakeholders worldwide.

During this next phase of ZEMBA’s strategy, it is focused on continuing to drive innovation and economies of scale that enable deep decarbonisation in maritime transport.

“ZEMBA looks forward to engaging stakeholders across the value chain in the coming months as it charts a course toward a sustainable future for ocean shipping,” it added.

Photo credit: CHUTTERSNAP on Unsplash
Published: 5 August, 2026

Technology

ZeroNorth debuts new agentic AI partner for maritime operations

Propel will ultimately operate across voyage, vessel and fuel workflows, monitoring operations continuously, and handling actions within the boundaries operators define.

Published

13 hours ago

August 5, 2026

Admin

ZeroNorth debuts new agentic AI partner for maritime operations

Maritime technology solutions provider ZeroNorth on Tuesday (4 August) introduced Propel by ZeroNorth, a new agentic AI partner for maritime operations.

Propel uses AI agents to take action on repetitive manual tasks in operations, freeing operators to focus on decisions that require their judgement.

The launch comes as shipping faces growing operational complexity from geopolitical disruption, regulatory change and volatile fuel prices. Operators coordinate decisions across multiple vessels and disconnected systems, and better coordination can compound into meaningful time and fuel savings across a fleet.

At the same time, agentic AI is now making it possible for software to move beyond insight and recommendation. It can understand intent, respond to changing conditions and help carry out work across complex operational processes. Propel is designed to do exactly that.

Today, Propel takes on repetitive manual tasks related to voyage optimisation that were previously handled by operators. It generates a voyage plan, manages the communication with the master, incorporates feedback into the plan and updates it, while keeping the operator in the loop throughout.

It is always on duty and responds as conditions change, helping operators act sooner on voyage opportunities while saving hours of manual coordination across organisations’ operations teams and fleets.

The voyage optimisation agent has been in use by ZeroNorth’s Professional Services team over the past three months and ZeroNorth is now giving early-access to key customers Cargill, Ultrabulk and CMB.TECH.

New agents will be released on an ongoing basis. ZeroNorth is testing each new capability with its partners so Propel is shaped by real operational conditions across different shipping segments from the start. Propel will ultimately operate across voyage, vessel and fuel workflows, monitoring operations continuously, and handling actions within the boundaries operators define. Wider commercial availability is planned for later in 2026.

Søren Andersen, CEO of ZeroNorth, said: “Our ambition with Propel is to help change the way shipping works by changing what technology can do inside maritime operations. There is immense potential to move towards operations that are more connected, continuous and precise, where technology takes on more of the coordination work and people can focus their judgement where it creates the greatest value.”

“Cargill, Ultrabulk and CMB.TECH were among our very first customers and helped build ZeroNorth from the beginning. Now, they are partnering with us again to shape what comes next for shipping. Their experience will be invaluable in ensuring that Propel is grounded in the realities of the industry today, while helping transform how maritime operations work tomorrow.”

Photo credit: ZeroNorth
Published: 5 August, 2026