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Maritime industry leaders gather in-person for SMF New Year Conversations 2022

A highlight of the evening was a panel discussion on key challenges the industry faces, and the opportunities amid disruptions in the post-pandemic world.
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SMF New Year Conversations 2022 GOH Speech

More than 250 of Singapore’s industry leaders across the maritime ecosystem gathered in-person at the Singapore Maritime Foundation New Year Conversations 2022.

Gracing the event as the Guest-of-Honour was S. Iswaran, Singapore’s Minister for Transport and Minister-in-charge of Trade Relations.

In his speech, Iswaran said, “Maritime Singapore has shown itself to be resilient despite the challenges of the pandemic over the past two years.”

“I am confident that the continued strong tripartite partnership between the Government, industry and unions will see us through the recovery phase and allow Maritime Singapore to emerge even stronger.”

A highlight of the evening was a panel discussion on key challenges the industry faces, and the opportunities amid disruptions in the post-pandemic world.

The panel discussion was chaired by Hor Weng Yew, Chairman of the Singapore Maritime Foundation and comprised Jeremy Nixon, CEO of Ocean Network Express (ONE); Quah Ley Hoon, Chief Executive of the Maritime and Port Authority of Singapore (MPA); Tan Chong Meng CEO of PSA International; Lars Kastrup, Co-President & Executive Director of Pacific International Lines (PIL); and Loh Boon Chye, CEO of the Singapore Exchange (SGX).

The programme culminated in the global launch of the 2022 edition of the Leading Maritime Cities of the World report co-developed by DNV and Menon Economics.

In the latest edition of the report, Singapore secured the overall top spot as an international maritime centre.

Commenting on the report, Hor said, “Maritime Singapore’s recognition in the DNV-Menon Leading Maritime Cities of the World 2022 report is a testament of the cohesiveness of the industry players across the ecosystem.”

“The willingness of industry players to collaborate on common challenges—whether it is to address maritime decarbonisation or to support talent development—cannot be taken for granted. The Singapore Maritime Foundation will continue to work with the industry to build connectivity, foster innovation and nurture talent to sustain the growth of the sector.”

 

Photo credit: Singapore Maritime Foundation
Published: 14 January, 2022

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Winding up

Singapore: Liquidator of Xin Bo Shipping Pte Ltd issues notice of dividend

First interim dividend of Xin Bo Shipping is payable by 7 October, according to Government Gazette notice.
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September 24, 2026

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RESIZED Drew Beamer

A notice of dividend for Xin Bo Shipping Pte Ltd, which is currently in creditors’ voluntary liquidation, was published on the Government Gazette on Wednesday (23 September). 

The following are the details of the notice:

Name of Company : Xin Bo Shipping (Pte) Ltd (In Creditors’ Voluntary Liquidation)
Unique Entity No. / Registration No. : 199003660R
Address of Registered Office : c/o Grant Thornton Singapore Private Limited, 8 Marina View, #40-04/05 Asia Square Tower 1, Singapore 018960
Amount per centum (US$) : 30.00 cents to a dollar of admitted unsecured claims
First and Final or otherwise : First Interim Dividend
When payable : By 7 October 2026
Where payable : Entitlements will be made either by way of telegraphic transfer or by cheque, to be collected from the Company’s registered address as above.

 

Photo credit: Drew Beamer
Published: 24 September, 2026

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Winding up

Singapore: Creditors’ meeting for Fair Wind Chartering Pte Ltd scheduled for 6 October

A creditors’ meeting of Fair Wind Chartering Pte Ltd has been scheduled to take place at 3pm on 6 October, according to a Government Gazette notice.

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September 24, 2026

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Resized benjamin child

A creditors’ meeting of Fair Wind Chartering Pte Ltd has been scheduled to take place on 6 October, according to a Tuesday (22 September) notice on the Government Gazette.

The meeting will be held via video conferencing at 3pm for the following agenda: 

  • To receive a Statement of Affairs of the Company, showing the assets and liabilities, together with a list of creditors and the estimated amount of their claims.
  • To confirm the appointment of Chee Fung Mei, Licensed Insolvency Practitioner, of CHEE FM & ASSOCIATES 110 Middle Road #05-03 Singapore 188968 as Liquidator of the Company for the purpose of such voluntary winding up, and that the Liquidator’s fees be based on her normal scale rates and disbursements incurred be paid out of the Company’s assets.
  • To consider and if deemed fit appoint a Committee of Inspection.
  • To consider any other matters which may properly be brought before the meeting.

According to the Singapore Business Directory website, the company’s principal activity is shipping and chattering of ships or boats. 

Note: To entitle you to vote thereat, your Proof of Debt must be lodged with the Provisional Liquidator not later than 10:00am on the 5th October 2026. Please submit your Proof of Debt and register your attendance by email to [email protected] to receive further details on the video conference.

 

Photo credit: Benjamin Child
Published: 24 September, 2026

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Business

Straits Energy proposes MYR 90 million capital reduction to offset accumulated losses

Straits Energy Resources proposed to undertake a reduction of MYR 90 million of its issued share capital to offset accumulated losses of the company and strengthen its financial position.
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September 24, 2026

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Bursa Malaysia-listed Straits Energy Resources Berhad (Straits) on Monday (21 September) proposed to undertake a reduction of MYR 90 million (USD 22 million) of its issued share capital to offset accumulated losses of the company and strengthen its financial position.

In a filing with Bursa Malaysia, the company said the proposed capital reduction entails the reduction of the issued share capital of Straits via the cancellation of the company’s paid-up share capital, which is substantially lost or unrepresented by available assets. 

The corresponding credit of MYR 90 million arising from the proposed exercise will be utilised to partially offset the accumulated losses while any balance credit will be credited to the capital reserve account which would serve as an additional credit buffer to set off future losses of the company.

The MYR 90 million was determined by the Board, after taking into consideration amongst others, the unaudited accumulated losses of the company for the financial year ended 30 June 2026 of MYR 101.91 million.

The proposal will not have any effect on the number or percentage of shares held by the substantial shareholders of the company as it does not involve any issuance, cancellation or transfer of shares held by the shareholders.

“Barring any unforeseen circumstances and subject to all required approvals being obtained, the proposed capital reduction is expected to be completed in the first quarter of 2027,” the company added. 

 

Photo credit: Straits Energy Resources
Published: 24 September, 2026

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