Legal

Singapore: Court orders Maersk Tankers to pay UOB USD 39 million over Winson Oil gasoil cargo

Defences of Maersk Tankers and Winson Oil had ‘overarching assertion that UOB ‘never looked to the bills of lading as security’, stated Judge.

Published

2 years ago

November 18, 2024

Admin

Maersk Tankers Singapore Pte Ltd (Maersk) on 4 November was ordered to pay UOB USD 39 million for the misdelivery of a gasoil cargo sold to Hin Leong Trading (Pte) Ltd (Hin Leong) by Winson Oil Trading Pte Ltd (Winson).

The present case was amongst affairs stemming from the collapse of Hin Leong in 2020.

Here, UOB claimed itself as holders of certain bills of lading for gasoil cargoes carried onboard Maersk Princess in accordance with a voyage charterparty between Maersk as owners and Winson as charterers.

Maersk Princess was carrying a total shipment of 752,870 barrels (bbl) of 10ppm sulphur gasoil cargo that was on-sold by Winson to Hin Leong following a sale contract dated 12 February 2020.

UOB was interested in two, out of the four parcels, which the gasoil cargo was split into.

Specifically, the bank was claiming for Parcel ‘A’ comprising 330,000 bbl purchased by Winson from BP Singapore Pte Limited and Parcel ‘C’ comprising 330,000 bbl purchased by Winson from China Aviation Oil (Singapore) Corporation Ltd (the Cargoes).

UOB argued Maersk discharged and delivered the Cargoes to Hin Leong without presenting the original bills of lading (OBLs) for both Parcel ‘A’ and ‘C’; as such its liability for misdelivery is allegedly settled.

“While admitting that Maersk discharged and delivered the cargo without original bills of lading having been presented, the Defendants [Maersk and Winson] have advanced a number of defences against liability for misdelivery,” stated Justice S. Mohan of the High Court of the Republic of Singapore.

“Most of them are bonded together by the overarching assertion that UOB ‘never looked to the bills of lading as security’.”

According to Justice Mohan, defendants Maersk and Winson presented several defences against UOB’s claim; they are:

Contractual Defence
Consent-Based Defences
Rights of Suit Defences
Causation Defence

“To summarise, none of the defences advanced by the Defendants have been made out. I am satisfied that UOB, as lawful holders of the OBLs, has established its claim against Maersk for breach of contract by reason of the latter having discharged and delivered the Cargo without the presentation of the OBLs,” he wrote.

“Having allowed this claim in contract, it is unnecessary for me to consider UOB’s alternative claims in conversion, bailment and negligence.

“Accordingly, I grant judgment in favour of UOB against Maersk in the sum of US$39,372,300.00, together with interest thereon at 5.33% per annum from the date of the writ to the date of judgment.”

Editor’s note: The original 104-page judgement document of Justice S. Mohan can be downloaded from the High Court of the Republic of Singapore website here.

Photo credit: Manifold Times
Published: 18 November 2024

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Singapore: Nan Shan Maritime liquidator issues notice of intended dividend

Creditors will need to produce proofs of debt to liquidator of Nan Shan Maritime by 14 July, according to Government Gazette notice.

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3 days ago

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A notice to declare intended dividend of Nan Shan Maritime Pte Ltd to its creditors has been posted on the Government Gazette on Tuesday (30 June).

The following are the details of the notice of intended dividend:

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
Last Day for Receiving Proofs : 14 July 2026
Name of Liquidator : Tam Chee Chong
Address : c/o 10 Anson Road, #10-10, International Plaza, Singapore 079903

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Singapore: Kekal Shipping Pte Ltd to undergo voluntary wind up

A liquidator has been appointed at an extraordinary general meeting held on 18 June for the purpose of winding up the company’s affair, according to Government Gazette notice.

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A notice in the Government Gazette was published by the Director of Kekal Shipping Pte Ltd on Friday (26 June), regarding resolutions that were passed in relation to the winding up of the company.

The following resolutions were duly passed during an an Extraordinary General Meeting of the company, which was held at 1 Harbourfront Avenue, #14-07 Keppel Bay Tower, Singapore 098632 on 18 June at 10am:

SPECIAL RESOLUTION

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

ORDINARY RESOLUTION

RESOLVED that Ms Lee Yan Huei of Messrs Acclime Corporate Advisory Singapore Pte. Ltd. be appointed liquidator of the Company for the purpose of such winding up

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Winding up

Singapore: Heng Tong Fuels & Shipping Pte Ltd to be wound up voluntarily

Nicholas James Gronow, director of the Singapore-based bunker tanker owner, filed a statutory declaration last year for the company, stating the firm cannot continue their businesses due to its liabilities.

Published

5 days ago

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Several written resolutions for Singapore-based bunker tanker owner Heng Tong Fuels & Shipping Pte Ltd (HTFS) were approved by the sole shareholder of the company on 19 June, according to a post in the Government Gazette on Friday (26 June).

Manifold Times previously reported a director of HTFS filing a statutory declaration (SD) with the Official Receiver’s office stating that the company cannot continue its business due to its liabilities.

The company was reportedly affiliated with troubled Singapore bunker player Coastal Oil (Singapore) Pte Ltd.

The duly passed resolutions were:

SPECIAL RESOLUTIONS:

That the Company be wound up voluntarily pursuant to Section 160(1)(b) of the Insolvency, Restructuring and Dissolution Act 2018 (No. 40 of 2018).
That the Liquidators be authorised to exercise any or all of the powers provided under Section 144(1)(b), (c), (d), (e), (f) and (g) and 144(2) of the Insolvency, Restructuring and Dissolution Act 2018 (No. 40 of 2018).
That the Liquidators be and are hereby authorised to distribute in cash or in specie any or all of the assets of the Company remaining after satisfaction of all debts and liabilities.

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 and are hereby appointed the joint and several Liquidators of the Company for the purpose of such winding up and that the Liquidators be indemnified by the Company against all costs, charges, losses, expenses and liabilities incurred or sustained by them in the execution and discharge of their duties in relation thereto.
That the remuneration of the Liquidators be based on their normal scale rates for carrying out the engagement plus disbursements and the prevailing goods-and-services tax and that the Liquidators’ remuneration be paid out of the assets of the Company.

In another notice, the liquidators of Heng Tong Fuels & Shipping said creditors for the company are required on or before the 27 July to send in their names and addresses and particulars of their debts or claims, and the names and addresses of their solicitors (if any) to the liquidators.

Liquidators may also require creditors to, “come in and prove their 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.”

The liquidators can be contacted at the following address:

WONG PHENG CHEONG MARTIN
KOAY MAY YEE
JOINT AND SEVERAL LIQUIDATORS
of FTI Consulting (Singapore) Pte. Ltd.
One Raffles Quay
#27-10 South Tower
Singapore 048583