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Proman supports UK government’s ambition for absolute zero shipping emissions by 2050

As a marine fuel, methanol’s major advantage is that it can drastically and in some instances immediately reduce all shipping emissions, it states.
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Switzerland-based energy supplier Proman on Thursday (16 September) said it has welcomed the UK Government’s commitment to push for a world-leading absolute zero target for international shipping emissions by 2050, as announced by Transport Secretary Grant Shapps on 13 September 2021.

This target, which would need to be agreed through the International Maritime Organization (IMO), recognises that reducing shipping emissions is not just about cutting carbon dioxide (CO2), says Proman.

Of the 3% of global greenhouse gas emissions generated by the sector, a significant proportion of this estimated 1 billion tonnes each year comes in the form of sulphur oxides (SOx), nitrous oxides (NOx) and particulate matter, all of which have a proven impact on air quality and public health.

The global shipping sector and regulators must take decisions now regarding the fuels and technology required to meet existing IMO 2030 and 2050 targets.

Some of the world’s largest shipping companies have this year backed methanol as the leading alternative marine fuel for the future, including Maersk’s recent order of eight new methanol-fueled vessels and the significant investments by leading engine manufacturers MAN and Wartsila in methanol fleets and technology, it states.

As a marine fuel, methanol’s major advantage is that it can drastically and in some instances immediately reduce all shipping emissions. It therefore has a major role to play in meeting the UK Government’s 2050 absolute zero emissions target.

With its clean-burning qualities, ship owners switching to methanol fuel can immediately eliminate SOx and particulate matter and cut NOx emissions by over 60%. Methanol produced from natural gas offers an initial 10-15% CO2 saving, rising to over 90% when using renewable methanol. Methanol is also safe to handle, globally available and benefits from proven engine technology.

Speaking at this year’s Argus Methanol Forum, David Cassidy, Chief Executive of Proman said:

“While only smaller amounts of renewable methanol are currently produced, as demand grows the level of renewable methanol production can be rapidly ramped up. As more plants get built and more capital is committed to renewable methanol production, the underlying technologies and equipment will become more cost effective and the price of renewable methanol will become more competitive.”

“The whole process can be a massive stimulus for our global economy, creating new future-proof jobs while driving down emissions and reducing environmental harm. That surely, is a win-win situation.”

Welcoming the UK Government’s commitment to push for absolute zero shipping emissions by 2050, David Cassidy called for further regulatory and government actions to create a level playing field for cleaner alternative fuels:

“The global energy transition has opened the door for alternatives to conventional fuels. There is no single solution or silver bullet, and we need to keep the door open for an open fuel standard for every solution to work in concert. But investing in methanol now means a smoother and faster transition to a lower carbon future.

“As an industry, we need legislative action to help level the playing field and foster methanol’s adoption. Pricing challenges will need to be confronted, and carbon taxes on fossil-based fuels should be part of the solution.

“Calculating emissions on a well-to-wake basis are critical to allowing like-for-like comparisons between future fuels, rather than pushing emissions further upstream. 

“We need the development of international certificates to allow for a true book and claim system, because that will be crucial to the acceptance of methanol as a fuel more broadly. And we absolutely need to standardise how we all report ESG metrics.”

 

Photo credit: Methanol Institute
Published: 17 September, 2021

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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.

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July 21, 2026

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RESIZED Sora Shimazaki on Pexels

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.

Related: Singapore: Hin Leong Founder OK Lim gets jail term slashed to 13.5 years

 

Photo credit: Sora Shimazaki
Published: 21 July, 2026

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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.

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July 21, 2026

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RESIZED Drew Beamer

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.

Related: Singapore: Director declares Heng Tong Fuels & Shipping’s inability to continue business
Related: Heng Tong Fuels & Shipping in court over DBS Bank bunker tanker loan
Related: Singapore: Bunker tanker “Coastal Neptune” arrested
Related: Heng Tong Fuels & Shipping, Coastal Logistics tankers enter S&P market

 

Photo credit: Drew Beamer
Published: 21 July, 2026

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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.

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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

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