Legal

U.S. Court fines vessel owner and operator $3 million over US ECA violation

Ocean Princess used fuel above 0.1% sulphur limit on 26 occasions between January 3 2017 to July 10 2018.

Published

7 years ago

August 28, 2019

Admin

The U.S. District Court of the Virgin Islands on Monday (26 August) convicted and sentenced Ionian Shipping & Trading Corp, Lily Shipping Ltd, Stamatios Alekidis, Athanasios Pittas, and Rey Espulgar for various pollution, recordkeeping, and obstruction of justice crimes on the Motor Tanker (M/T) Ocean Princess.

The defendants’ conduct included using fuel that exceeded the maximum allowable sulphur concentration in the U.S. Caribbean Emission Control Area (U.S. Caribbean ECA) and efforts to deceive U.S. Coast Guard inspectors about the source of the fuel being used aboard the M/T Ocean Princess.

Between January 3 2017 and July 10 2018, the M/T Ocean Princess entered into, and operated within, the U.S. Caribbean ECA using fuel that contained excessive sulphur on 26 separate occasions.

The fuel was petroleum cargo that had been transferred to the fuel tanks as authorized by the vessel’s commercial manager.

Once notification was received from Master Stamatios Alekidis, Chief Officer Rey Espulgar coordinated with Chief Engineer Athanasios Pittas to make the transfers from the cargo tanks to the bunker tanks.

Rey Espulgar then falsified the Oil Record Book, Part II, by failing to record that cargo had been transferred to the bunker tanks.

Athanasios Pittas also falsified the Oil Record Book, Part I, by falsely recording that the fuel in the bunker tank originated from a shore-side company in St. Martin, F.W.I.

Additionally, Athanasios Pittas created fictitious Bunker Delivery Notes that claimed the fuel in the bunkers came from the same shore-side company in St. Martin, F.W.I. Between March 2 2016 and February 6 2018 19 separate fictitious Bunker Delivery Notes were created on and kept aboard the vessel.

U.S. Coast Guard inspectors boarded the M/T Ocean Princess on July 10 2018 to conduct an inspection and found the vessel was using fuel with an excessive sulphur content.

Chief Officer Rey Espulgar instructed some of the lower-ranking crewmembers to lie to the U.S. Coast Guard inspectors about where the fuel came from and to say the ship took on fuel in St. Martin, F.W.I., when in fact it did not.

The M/T Ocean Princess was owned by Lily Shipping Ltd. and operated by Ionian Shipping & Trading Corp., both Greece-domiciled companies.

The vessel was engaged in transporting petroleum products throughout the Caribbean including from Limetree Terminals, St. Croix, U.S.V.I.

The commercial manager of the vessel would authorize the Master of the vessel, Stamatios Alekidis, to transfer petroleum cargo from the cargo tanks into the vessel’s fuel tanks, known as bunker tanks.

As the owner and operator of the vessel, Lily Shipping Ltd. and Ionian Shipping & Trading Corp. were further responsible for ensuring the vessel used fuel that complied with the U.S. Caribbean ECA standards.

Ionian Shipping & Trading Corp. and Lily Shipping Ltd. will each pay a fine of $1.5 million, be placed on four years of probation, and implement an Environmental Compliance Plan.

Stamatios Alekidis, Athanasios Pittas, and Rey Espulgar were sentenced to three years of probation and ordered not to return to the United States on a ship during that time. Rey Espulgar was also fined $3,000.

Photo credit: MarineTraffic / Adrian Hobson
Published: 28 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

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