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Singapore: Straits Bunkering a step closer in securing SGD 8 million bunker spill liability ceiling

Remaining claims to be compensated by International Oil Pollution Compensation Fund 1992 which has a much higher limit of SGD 362 million.
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2 years ago

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Marine Honour

Straits Bunkering and QBE Insurance (Singapore), which uses the brand name British Marine, has taken a step closer in securing liability limitation from a recent bunker spill involving Marine Honour (IMO 9422811).

PSA Corporation will not be to contesting the right for Straits Bunkering and British Marine to limit their liability, showed documents obtained from the court by Manifold Times.

The latest development paves way for Straits Bunkering and British Marine to limit their liability, whereby a ceiling of 4,510,000 Special Drawing Rights (SDR) valued at approximately SGD 8 million will be deposited by QBE Insurance into a local bank account.

Claims exceeding the liability limitation of Straits Bunkering, owner of bunker tanker Marine Honour, will meanwhile be made against International Oil Pollution Compensation Fund 1992 which has a much higher limit of SGD 362 million.

Singapore is a Party to both the 1992 Civil Liability Convention (CLC) and the 1992 Fund Convention. It has been confirmed that the oil from the vessel is persistent and that the Marine Honour falls within the definition of ‘ship’ under those Conventions. Therefore, both the 1992 CLC and Fund Convention apply to this incident.

Under the 1992 CLC, the shipowner has strict liability for any pollution damage caused by the oil, i.e. the owner is liable even if there was no fault on the part of the ship or its crew.  However, the shipowner has the right to limit its financial liability to an amount that is determined by the tonnage of the ship.

The 1992 Fund Convention provides a second tier of compensation when full compensation for the pollution damage cannot be obtained from the shipowner, or valid claims exceed the shipowner’s limit. Claimants may be individuals, partnerships, companies, private organisations or public bodies, including States or local authorities.

On 30 July, IOPC Funds and British Marine, insurer of Marine Honour, opened a Claims Submission Office to facilitate the submission of claims for compensation by those affected by the oil pollution damage resulting from the incident, which occurred at Pasir Panjang Terminal, Singapore on 14 June 2024.

Note: Lawyers from Helmsman LLC are representing Straits Bunkering and QBE Insurance (Singapore), while PSA Corporation is represented by lawyers from Rajah & Tann Singapore LLP.

Related: Singapore: IOPC Funds and British Marine open joint CSO for “Marine Honour” incident
Related: MPA: Claims exceeding liability of “Marine Honour” owner will be made against international fund
Related: MPA: Owner of bunker tanker involved in Singapore oil spill is liable for pollution damage
Related: Malaysia to look into demands of Johor fisherman affected by oil spill from Singapore
Related: Singapore oil spill: Clean-up enters next phase of cleaning rock bunds
Related: MPA: Clean-up ops continue following oil spill in Singapore, affected beaches closed
Related: Singapore: Oil spill cleanup after allision between dredger “Vox Maxima” and bunker tanker “Marine Honour”

 

Published: 7 August 2024

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Winding up

Singapore: Xihe Holdings subsidiaries to be wound up voluntarily, creditors to submit claims

Creditors of Da Zhong Tankers and Xin Ying Shipping are required on or before 17 July 2026 to send in their names and addresses and particulars of their debts or claims to appointed liquidators, says notice.
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2 days ago

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June 19, 2026

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steve pb from Pixabay

Xihe Holdings Pte Ltd subsidiaries Da Zhong Tankers Pte Ltd and Xin Ying Shipping Pte Ltd will voluntarily wind up following resolutions that were passed by written means, according to a Government Gazette notice published on Thursday (18 June).

The resolutions set out below were duly passed:

  • SPECIAL RESOLUTION – WINDING-UP

That the Company be wound up voluntarily pursuant to section 160(1)(b) of the Insolvency, Restructuring and Dissolution Act 2018.

  • ORDINARY RESOLUTION – APPOINTMENT OF LIQUIDATORS

That Paresh Tribhovan Jotangia and Ho May Kee of Grant Thornton Singapore Private Limited, 8 Marina View, #40-04/05 Asia Square Tower 1, Singapore 018960 be and are hereby appointed as joint and several liquidators to conduct the said winding-up and that their remuneration be fixed on the usual scale of their professional charges for the work involved.

  • SPECIAL RESOLUTION – POWERS OF LIQUIDATORS

That the liquidators of the Company be authorised to exercise any of their powers given by section 177, 144 (1) and (2) of the Insolvency, Restructuring and Dissolution Act 2018 and to distribute to members, in specie, any part of the assets of the Company.

In another notice, the liquidator of the company said creditors are required on or before 17 July 2026 to send in their names and addresses with particulars of their solicitors (if any) to liquidator Paresh Tribhovan Jotangia at Grant Thornton Singapore Private Limited, 8 Marina View, #40-04/05 Asia Square Tower 1, Singapore 018960. 

The liquidator may require creditors or their solicitors to “come in and prove their said debts or claims at such time and place as shall be specified in such notice or in default thereof, they will be excluded from the benefit of any distribution made before such debts are proved.”

Related: Singapore: Additional Xihe Holdings subsidiaries to be placed under judicial management

 

Photo credit: steve pb from Pixabay
Published: 19 June, 2026

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Winding up

Singapore: Liquidator of Parakou Shipping issues notice of dividend

Second and final dividend to admitted creditors of Parakou Shipping is payable by 14 July, according to Government Gazette notice.

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2 days ago

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June 19, 2026

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Resized benjamin child

A notice of dividend for Parakou Shipping Pte Ltd, which is currently in voluntary liquidation, was published on the Government Gazette on Thursday (18 June). 

The following are the details of the notice:

Name of Company : Parakou Shipping Pte Ltd (In Creditors’ Voluntary Liquidation)
Address of Registered Office : c/o KordaMentha, 50 Raffles Place, 25-01 Singapore Land Tower, Singapore 048623
Amount per centum : 0.55 per centum of admitted claims (in accordance with the Order of Court HC/ORC 4175/2024)
First and Final or otherwise : Second and Final Dividend to admitted creditors (in accordance with the Order of Court HC/ORC 4175/2024)
When payable : By 14 July 2026
Where payable : c/o KordaMentha Pte Ltd, 50 Raffles Place, #25-01 Singapore Land Tower, Singapore 048623

Related: Singapore: Notice of intended dividend issued for Parakou Shipping Pte Ltd

 

Photo credit: Benjamin Child
Published: 19 June, 2026

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Winding up

Singapore: Notice of intended dividend issued for Selco (Shipyard) Pte Limited

Creditors of the companies will have to submit proof of debt to the liquidators of Selco (Shipyard) by 1 July, according to Government Gazette notice.
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3 days ago

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June 18, 2026

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RESIZED Jo_Johnston from Pixabay

A notice to declare the intended dividend of Selco (Shipyard) Pte Limited to its creditors has been posted on the Government Gazette on Wednesday (17 June).

Name of Company : Selco (Shipyard) Pte Limited (In Compulsory Liquidation)
Co. Reg. No.: 196800580K
Address of Registered Office : 7 Straits View, Marina One East Tower, Level 12, Singapore 018936
Court : High Court of the Republic of Singapore
Number of Matter : Companies Winding Up No.: 125 of 1986
Last Day for Receiving Proofs : 1st day of July 2026
Name of Liquidators : Goh Thien Phong and Chan Kheng Tek, Joint and Several Liquidators
Address of Liquidators : c/o PricewaterhouseCoopers Advisory Services Pte Ltd, 7 Straits View, Marina, One East Tower, Level 12, Singapore 018936

 

Photo credit: Jo_Johnston from Pixabay
Published: 18 June, 2026

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