Business

Monjasa welcomes Director of Danish Maritime Fund to its Board of Directors

With over 40 years of experience, Lotte has served in various roles as leader and executive in primarily Maersk Line, Maersk Procurement and Maersk Broker.

Published

6 years ago

October 2, 2020

Admin

Global oil and shipping group Monjasa Ltd on Thursday (1 October) said Lotte Grønborg Lundberg has joined the Monjasa Holding Board of Directors to take part in further sustaining Monjasa’s position as a global top marine fuels supplier.

Lotte comes with over 40 years of international maritime leadership and brings new competencies into play in the boardroom, it said.

With extensive experience from the A.P. Moller-Maersk Group and related entities, Lotte has served in various commercial and corporate roles as leader and executive in primarily Maersk Line, Maersk Procurement and Maersk Broker.

Today, she is active as Director of the Danish Maritime Fund and various board positions, added Monjasa.

“We are delighted to welcome a true maritime professional like Lotte into the Monjasa Holding boardroom,” said Christian Merrild, Chairman of the board.

“She brings new and interesting competencies covering many aspects of the ongoing shipping industry transformation, including ship management and newbuild programmes. We need the best people on board to navigate tomorrow’s challenges in oil and shipping.”

“I have known Lotte for around 15 years and followed her exciting maritime career with the A.P. Moller-Maersk Group and at port authorities and maritime organisations,” added Anders Østergaard, Group CEO and Board Member.

“Lotte is driven, curious, outspoken, and has a grounded personality, which altogether makes her and Monjasa a good match. Monjasa is fast approaching 20 years in oil and shipping and Lotte’s entrance in the Board of Directors compliments the overall maturity of the Monjasa Group.”

Monjasa shared that Lotte joined A.P. Moller-Maersk in 1978 as a Management Trainee before building a career across internal management positions until 2017.

Since 2019 she has served as Director of the Danish Maritime Fund, with the objective of providing grants, finance and loans to projects supporting Danish Shipping and Maritime Industry.

Educational background includes a bachelor in International Business from Copenhagen Business School (CBS) and various leadership programmes at IMD, Colombia University and CBS.

At the same time, Tage Bundgaard, who will also be celebrating his 75th birthday later this month, steps down as Member of the Board following eight years at Monjasa.

Positivity, experience and loyalty have been keywords describing Tage Bundgaard, while serving Monjasa with invaluable knowledge from a life dedicated to shipping.

Photo credit: Monjasa
Published: 2 October, 2020

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

17 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

17 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

LNG Bunkering

PIL’s LNG dual-fuel boxship “Kota Elok” arrives in Singapore on maiden call

As the first of 13 new 13,000 TEU vessels joining its fleet, Kota Elok is equipped to operate on LNG and low-sulphur fuel oil that helps reduce our greenhouse gas emissions.

Published

17 hours ago

July 21, 2026

Admin

PIL's LNG dual-fuel boxship “Kota Elok” arrives in Singapore on maiden call

Singapore-based Pacific International Lines Pte Ltd on Monday (20 July) said its first 13,000 TEU LNG dual-fuel container vessel, Kota Elok, recently made her maiden call to Singapore on 15 July.

As the first of 13 new 13,000 TEU vessels joining its fleet, Kota Elok is equipped to operate on liquefied natural gas (LNG) and low-sulphur fuel oil that helps reduce our greenhouse gas emissions.

The vessel also incorporated energy-saving features and digital technologies to reduce fuel consumption and enhance operational performance, as well as a bow windshield to improve aerodynamics, contributing to improved fuel efficiency and lower emissions over the course of long-haul voyages.

“Following Singapore, Kota Elok will continue her voyage on our East Coast Service 1 (ES1) route to South America, calling at ports in Brazil, Uruguay, and Argentina before returning to Asia,” the company said in a social media post.

Kota Elok also became PIL’s first vessel to receive Lloyd’s Register certification for compliance with the IACS UR E26 and UR E27 cyber security requirements.

Developed by the International Association of Classification Societies (IACS), UR E26 and UR E27 are mandatory cyber resilience requirements for newbuild vessels contracted from 1 July 2024.

Photo credit: Pacific International Lines
Published: 21 July, 2026