Legal

SPACE TECH4SEA aims to develop carbon fibre LNG bunker tanks

Size and weight of existing technology reduces capacity and increases need for more horsepower.

Published

8 years ago

November 13, 2018

Admin

ABS, OceanFinance and Scorpius Space Launch Company (SSLC) have started a three-year SPACE TECH4SEA project to adapt composite technologies developed for the space industry to maritime shipping.

The three-year SPACE TECH4SEA development project will adapt SSLC’S PRESSURMAXX composite tanks for marine applications based on its current use in a range of industries and more than 200 clients including NASA.

Composite carbon fiber technology allows development of ultralight compact tanks, making LNG as fuel feasible for a broader range of marine vessels.

“This technology is a game-changer product that will unlock latent demand for LNG as marine fuel,” said Managing Director, OceanFinance, Dr. Panayotis Zacharioudakis.

“The benefit of leveraging this US space technology, to improve the environment in European Sea basins, is obvious. We expect introduction of this innovative product will enable sales of more than 2,000 tanks in the next 10 years.”

The joint team’s goal is creating tanks which will attract new buildings and LNG as a marine fuel retrofits by cutting costs, reducing weight and increasing vessels’ cargo capacity.

The technology, which offers weight savings up to 80 percent over existing equivalent LNG tank designs and is not affected by corrosion, also introduces space technology safety standards to marine operations.

While the tanks are currently made by hand, the project aims to adopt a highly automated production line to ensure a competitive pricing level.

“Composite technology can make LNG a compelling choice for ship owners. The size and weight of existing technology reduces capacity and increases the need for additional horsepower,” said SSLC President and CEO Markus Rufer.

“Composite tanks will remove these issues, offering significant improvement in vessels’ OPEX and CAPEX, making LNG as a marine fuel viable for a wide range of marine applications.”

Engineers from ABS’ Global Ship Systems Center in Greece will provide the rules, regulations and standards under which the composite tank technology can be approved for marine applications, reviewing the designs submitted by SSLC.

“ABS remains at the forefront of LNG innovation by partnering with ground-breaking companies all over the world. Existing LNG tank technology can make adoption of the fuel prohibitively expensive,” said ABS Vice President for Global Gas Solutions, Patrick Janssens.

“This composite technology has proven itself in other industries; we are committed to learning how to safely apply those lessons to benefit the maritime industries.”

Photo credit: ABS
Published: 13 November, 2018

Winding up

Singapore: Notice of intended dividend issued for Xihe Holdings’ subsidiaries

Creditors will need to produce proofs of debt to liquidators of Da Xin Tankers and Nan Chiau Maritime by 5 August, according to Government Gazette notice.

Published

12 hours ago

July 23, 2026

Admin

Two notices to declare the intended dividend of Xihe Holdings’ subsidiaries to their creditors have been posted on the Government Gazette on Wednesday (22 July).

The subsidiaries are Da Xin Tankers Pte Ltd and Nan Chiau Maritime Pte Ltd.

The following are the details of the notices of intended dividend:

Name of Company : Da Xin Tankers (Pte) Ltd (In Creditors’ Voluntary Liquidation)
Unique Entity No. / Registration No. : 198400895W
Address of Registered Office : c/o Grant Thornton Singapore Private Limited, 8 Marina View, #40-04/05 Asia Square Tower 1, Singapore 018960
Last Day for Receiving Proofs : 5 August 2026 at 5:00 pm by email to [email protected]
Name of Liquidators : Paresh Tribhovan Jotangia and Ho May Kee
Address : c/o Grant Thornton Singapore Private Limited, 8 Marina View, #40-04/05 Asia Square Tower 1, Singapore 018960

Name of Company : Nan Chiau Maritime (Pte.) Ltd. (In Creditors’ Voluntary Liquidation)
Unique Entity No. / Registration No.: 200814296Z
Address of Registered Office : c/o Grant Thornton Singapore Private Limited, 8 Marina View, #40-04/05 Asia Square Tower 1, Singapore 018960
Last Day for Receiving Proofs : 5 August 2026 at 5:00 pm by email to [email protected]
Name of Liquidators : Paresh Tribhovan Jotangia and Ho May Kee
Address : c/o Grant Thornton Singapore Private Limited, 8 Marina View, #40-04/05 Asia Square Tower 1, Singapore 018960

Photo credit: steve pb from Pixabay
Published: 23 July, 2026

Winding up

Singapore: High Court to hear Norvic Shipping Asia winding up application on 31 July

Application for the winding up of Norvic Shipping Asia Pte Ltd was filed by Netherlands-registered Mur Shipping BV on 8 April, according to Government Gazette notice.

Published

2 days ago

July 22, 2026

Admin

An application for the winding up of Norvic Shipping Asia Pte Ltd was filed by Netherlands-registered Mur Shipping BV on 8 April, according to a Tuesday (21 July) notice on the Government Gazette.

It noted the winding up application is directed to be heard before the Judge sitting in the General Division of the High Court at 10am on 31 July.

Any creditor or contributory of the company desiring to support or oppose the making of an order on the winding up application may appear at the time of hearing by himself or his counsel for that purpose.

A copy of the winding up application will be furnished to any creditor or contributory of the company requiring the copy of the winding up application by the solicitors of the applicant’s, Oon & Bazul LLC, on payment of the regulated charge for the same.

The Applicant’s address is Hiridostraat 5, Gebouw Prismatrium, 1101CW Amsterdam, The Netherlands.

The Applicant’s solicitors are Oon & Bazul LLC of 103 Penang Rd, #04-04/05/06 Singapore 238467.

Queries on the winding up application may be directed to the following email addresses: [email protected] and [email protected].

Photo credit: Manifold Times
Published: 22 July, 2026

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

3 days 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