Several notices in the Government Gazette were published by the Director of LNG Alpha Shipping Pte Ltd and related companies on Wednesday (20 May), regarding some resolutions that were passed in relation to the winding up of the companies. 

The other companies are LNG Delta Shipping Pte Ltd, LNG Beta Shipping Pte Ltd and LNG Gamma Shipping Pte Ltd.

The following resolutions were duly passed during an Extraordinary General Meeting for the companies:

AS SPECIAL RESOLUTIONS

Resolved:

1. That the Company be wound up voluntarily pursuant to Section 160(1)(b) of the Insolvency, Restructuring and Dissolution Act 2018, and that Mr Lum Chi Lup Benny of 190 Middle Road, #17-05 Fortune Centre, Singapore 188979, be and is hereby appointed as Liquidator for the purpose of such winding-up.
2. That the Liquidator be and is hereby authorised (when and as soon as the debts and liabilities of the Company have been paid and satisfied or duly provided for) to distribute the assets in specie or kind among the contributories of the Company in accordance with their respective rights and interests.
3. That the Liquidator of the Company be and is hereby authorised to exercise any of the powers given by Sections 144(1)(b), (c), (d), (e), (f) and (g) of the Insolvency, Restructuring and Dissolution Act 2018.

AS ORDINARY RESOLUTIONS

Resolved:

1. That the Liquidator, Mr Lum Chi Lup Benny be remunerated for the work of winding-up the Company on his normal scale of fees and that the Liquidator be indemnified by the Company against all costs, charges, losses, expenses and liabilities incurred or sustained by him in the execution and discharge of his duties in relation thereto.
2. That pursuant to Section 195(2) of the Insolvency, Restructuring and Dissolution Act 2018, the books, accounts and documents of the Company and those of the Liquidator shall be retained for a period of 5 years after the dissolution of the Company and, at the expiration of that period, the documents may be destroyed.

In 2024, it was reported that all four Singapore-based LNG shipping companies were sanctioned by the US for their links to the Russian LNG producer Novatek. They are all majority-owned by New Transhipment FZE, a Novatek subsidiary based in the United Arab Emirates.

Photo credit: Benjamin Child
Published: 21 May, 2026

Hengli Petrochemical International, the former Singapore trading arm of Hengli Petrochemical (Dalian) Refinery, has dismissed some employees, according to a news report by Bloomberg, citing industry sources.

On 24 April, US Department of the Treasury’s Office of Foreign Assets Control (OFAC) sanctioned China-based independent teapot refinery Hengli Petrochemical (Dalian) Refinery, a unit of Hengli Petrochemical, saying it purchased billions of dollars’ worth of Iranian oil.

Some workers were laid off while others were offered positions in other entities, sources said. 

According to a Reuters report citing four industry sources, the company plans to cease operations and is expected to wind down operations by late May.

Last month, Hengli reportedly restructured the ownership of the Singapore entity, cutting the sanctioned refinery’s stake from 100% to 5% and transferring the remainder to a Chinese government-linked firm.

Related: Hengli shifts ownership of Singapore trading arm in wake of US sanctions
Related: US sanctions China’s second-largest teapot refinery for purchasing Iranian oil

Photo credit: Andy Wang on Unsplash
Published: 12 May, 2026

The United States on Friday (1 May) sanctioned a China-based crude oil terminal owner and operator, which it said has imported “tens of millions of barrels of sanctioned Iranian crude oil”, which has enabled the flow of billions of dollars to Tehran. 

The State Department alleged that Qingdao Haiye Oil Terminal Co Ltd received dozens of shipments, totaling tens of millions of barrels of Iranian origin crude oil in 2025.

Qingdao Haiye operates a crude oil terminal in the Qingdao Huangdao port area in the greater Qingdao Port cluster of China’s Shandong province. 

“The terminal has accepted cargo from multiple vessels which conducted illicit ship-to-ship (STS) transfers of Iranian-origin crude off the coast of Singapore known as the eastern outside port limits (EOPL), which is an area that has been identified as a hotspot for illicit STS transfers of Iranian-origin crude,” it said. 

“These STS transfers were conducted with other vessels which had previously been designated by OFAC for transshipping Iranian energy products.”

It added that Iran’s petroleum exports, which remain the most critical economic lifeline supporting the destabilizing activities of the Iranian regime, are reliant on key intermediaries who facilitate the transfer of sanctioned Iranian crude oil to end users.

“China-based crude oil and petroleum product terminal operators serve as one of the most significant conduits in this trade, as they directly enable the flow of illicit Iranian oil to consumers,” it said.

Photo credit: Zbynek Burival on Unsplash
Published: 4 May, 2026