Legal

Sea Hub Energy seeks US$12 million from Southernpec at Singapore High Court

Southernpec claimed disputed loadings for 200 mt of MGO and 19,300 mt of HFO were done without its request, according to court documents.

Published

7 years ago

August 5, 2019

Admin

Singapore-based Sea Hub Energy Pte Ltd, involved in the business of chartering and trading of marine fuel, on 7 June 2019 filed for a claim totalling US $12 million (exact: US $12,360,526.69) from Southernpec (Singapore) Shipping Pte Ltd at the High Court of the Republic of Singapore.

Sea Hub alleges it entered into four contracts with Southernpec between 1 August to 1 September 2017 for the loading of 380 centistokes (cSt) grade (HFO) and low sulphur marine gas oil (MGO), according to court documents obtained by Manifold Times.

The contracts are for the loading of 17,200 metric tonnes (mt) HFO between 26 July to 25 August; loading of 300 mt MGO between 1 July to 25 August; loading of 200 mt MGO between 26 August to 25 September; and loading of 19,300 mt HFO between 26 August to 25 September.

According to Sea Hub, Southernpec issued a purchase confirmation for 17,200 mt of HFO and 300 mt of MGO; however, it did not issue a purchase confirmation for 200 mt of MGO and 19,300 mt of HFO as “it was understood between the parties that the same payment terms set out in the previous purchase confirmations will apply”.

In its reply on 3 July, Southernpec denied it entered into sales contracts with Sea Hub for 200 mt of MGO and 19,300 mt of HFO as it alleged both parties stopped business with each other around September 2017.

As such, Southernpec claimed the disputed loadings of MGO and HFO were done without its request; the company also alleges it has not received 19,300 mt of HFO from Sea Hub.

Further, Southernpec claimed debts related to earlier loadings for 17,200 mt of HFO and 300 mt of MGO have already been paid/set off due to the contracts being set under the following condition: “Payments under this contract can be offset with buyer’s bunker sales contracts to the seller.”

Instead, Southernpec alleges Sea Hub owing US $5.7 million (US $5,654,394.50) after taking off sets into account.

It adds if the court recognises the loading for the disputed 200 mt of MGO and 19,300 mt of HFO the set off would be US $799,439.67 in favour of Sea Hub, and not US $12 million.

Sea Hub, in its latest response on 18 July, noted Southernpec confirming though its own calculation the debt of US $12 million to the former though an earlier communication on 23 July 2018.

“Accordingly, it is undisputed between the Plaintiff and the Defendant that the outstanding amount due and owing to the Plaintiff from the Defendant is USD12,360,526.69,” stated Sea Hub’s lawyers.

“Even if the Plaintiff’s claim herein is subject to set off against the invoices issued by the Defendant to the Plaintiff, the amount outstanding from the Defendant to the Plaintiff would be USD799,439.67.”

Photo credit: Manifold Times
Published: 5 August, 2019

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

12 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

12 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