Legal

Ghana investigating illegal MGO sales to vessels

The country recorded a 2,000% increase in bonded MGO sales but finds most product routed back to domestic market, says government official.

Published

9 years ago

January 12, 2018

Admin

A sudden increase in unaccounted bonded marine gas oil (MGO) sales to vessels has caused Ghana authorities to start investigations, while proposing taxes as a solution.

“We have been receiving requests for marine gas oil, which in essence is diesel to bunker ocean-going vessels, and the volumes have been increasing over time,” Hassan Tampuli, CEO of the National Petroleum Authority (NPA), told Ghana Web.

“We observed that there has been some 2,000% increase in the demand, and this cannot be mathematically feasible so we have had to interrogate the demands.

“We checked, and it turns out that some of the vessels that were claimed to be bunkered were not even in Ghana. So somebody takes the product and immediately dumps it on the Ghanaian market without paying the necessary taxes, levies and margins.”

According to Tampuli, the illegal activity will damage business activities in the private sector.

“You don’t only distort the market but you create an avenue for businesses which want to do genuine business to begin to follow you, because they cannot compete with you; and if they cannot compete with you, they have to lay-off their workers,” he says.

“The business of government is to create an enabling environment for businesses to thrive and create jobs. We intend to give opportunities for the private sector to operate, expand and create more jobs. What is happening right now is something that goes contrary to the above aims of government, and we will stop at nothing to stamp out this bad practice.”

Tampuli suggested the introduction of taxes for MGO as a solution.

“We have, in collaboration with the Ministry of Finance, proposed the imposition of taxes, levies and margins on all marine gas oil to discourage criminal elements from distorting the market,” he said.

Publication date: 12 January, 2018

Legal

Singapore withdraws remaining 127 charges against Hin Leong founder OK Lim

Lim Oon Kuin, also known as OK Lim, was issued a stern warning and a district court granted him a discharge amounting to an acquittal for these charges on 17 July.

Published

16 hours ago

July 21, 2026

Admin

Founder of collapsed oil trader Hin Leong Trading, Lim Oon Kuin, also known as OK Lim, has had the remaining 127 charges against him withdrawn, according to The Straits Times on Monday (20 July).

OK Lim was issued a stern warning and a district court granted him a discharge amounting to an acquittal for these charges, including those for cheating, on 17 July. The discharge means Lim cannot be prosecuted again for the same offences.

Lim, 84, is currently serving a 13½-year prison sentence after the High Court reduced his original 17½-year jail term in March 2026. He was convicted in 2024 on two cheating charges and one count of abetting forgery in a case prosecutors described as one of Singapore’s most serious trade finance frauds.

Lim was convicted in May 2024 of two charges of cheating the Hongkong and Shanghai Banking Corporation (HSBC) and one count of abetting forgery that proceeded to trial out of a total of 130 criminal charges.

He was first charged in court on 14 August 2020, and was subsequently handed further charges in court on 25 September 2020, 30 April 2021 and 24 June 2021 for his role in perpetuating fraud on various financial institutions.

A total of 130 charges were eventually brought against him for cheating and forgery-related offences.

Photo credit: Sora Shimazaki
Published: 21 July, 2026

Winding up

Singapore: Coastal Logistics Pte Ltd to be wound up voluntarily

Coastal Logistics was reportedly affiliated with troubled Singapore bunker player Coastal Oil (Singapore) Pte Ltd.

Published

16 hours ago

July 21, 2026

Admin

Several resolutions for Coastal Logistics Pte Ltd were made during an extraordinary general meeting held on 14 July, according to a notice in the Government Gazette on Friday (4 July).

The following resolutions were duly passed during the meeting:

As Special Resolution

That it has been proved to the satisfaction of the meeting that the Company cannot by reason of its liabilities continue its business and accordingly the Company be wound up voluntarily pursuant to Section 160(1)(b) of the Insolvency, Restructuring and Dissolution Act 2018 (No. 40 of 2018);

As Ordinary Resolutions

that Mr. Wong Pheng Cheong Martin and Ms. Koay May Yee, both care of FTI Consulting (Singapore) Pte Ltd, One Raffles Quay, #27-10 South Tower, Singapore 048583 be appointed as the joint and several Liquidators of the Company for the purpose of such winding up; and
that the Liquidators be at liberty to open, maintain and operate any bank account(s) or account(s) for monies received by them as Liquidators with such bank(s) as they deem fit; and
that a Committee of Inspection will not be formed.

Manifold Times previously reported Nicholas James Gronow, director of Heng Tong Fuels & Shipping and Coastal Logistics, filed statutory declarations for both companies stating the firms cannot continue their businesses due to liabilities.

Both companies were reportedly affiliated with troubled Singapore bunker player Coastal Oil (Singapore) Pte Ltd.

In 2019, several vessels owned by both firms entered the sale & purchase (S&P) market in Singapore.

Photo credit: Drew Beamer
Published: 21 July, 2026

Winding up

Singapore: Liquidator of Nan Shan Maritime Pte Ltd issues notice of dividend

Third interim dividend to admitted unsecured claims of Nan Shan Maritime is payable from 15 July, according to Government Gazette notice.

Published

6 days ago

July 16, 2026

Admin

A notice of dividend for Nan Shan Maritime Pte Ltd, which is currently in creditors’ voluntary liquidation, was published on the Government Gazette on Wednesday (15 July).

The following are the details of the notice:

Name of Company : Nan Shan Maritime (Pte.) Ltd.(In Creditors’ Voluntary Liquidation)
Unique Entity No. / Registration No. : 201701967H
Address of Registered Office : 10 Anson Road, #10-10, International Plaza, Singapore 079903
Amount per centum : 5.00 Per Centum of all admitted unsecured, claims
First and Final or Otherwise : Third Interim
When Payable : 15 July 2026
Where Payable : Entitlements will be made by way of cheque.

Photo credit: Drew Beamer
Published: 16 July, 2026