Singapore: Creditors’ meeting for Heng Tong Fuels & Shipping postponed to 22 October

Winding up

Published Wed, 15th October 2025
by Admin

Director of Singapore-based bunker tanker owner Heng Tong Fuels & Shipping and Coastal Logistics filed SDs in August stating that the firms could not continue their businesses due to liabilities.

The first meeting of creditors for Singapore-based bunker tanker owner Heng Tong Fuels & Shipping Pte Ltd (HTFS) has been further adjourned to 22 October 2025 at 2pm via electronic means, according to a Government Gazette notice by the company’s liquidator on Tuesday (10 April).

The meeting, which was expected to be held on 18 September, was initially adjourned to 24 September.

Another notice stated the first meeting of creditors for Coastal Logistics Pte Ltd was also further adjourned to 22 October at 3.30pm via electronic means.

“If you believe you are a creditor of the Company, please email [email protected] or [email protected],” the notices added.

The notices were signed by joint and several provisional liquidator Luke Anthony Furler.

Both companies were reportedly affiliated with troubled Singapore bunker player Coastal Oil (Singapore) Pte Ltd.

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.

In the SD lodged on 26 August, the director, Nicholas James Gronow, said the meeting of the company and of its creditors have been summoned to be held on 18 September 2025, being a date within one month of the date of the SD.

Gronow also filed a SD for Coastal Logistics Pte Ltd on the same day stating that the company cannot continue its business due to its liabilities.

In 2019, several vessels owned by both firms entered the sale & purchase (S&P) market in Singapore.

Manifold Times previously reported the legal representatives of HTFS and financial institution DBS Bank Ltd meeting to discuss a loan agreement entered on 12 April 2012.

The loan agreement saw HTFS borrow up to a total of US $10.4 million for the construction of 4,999 dwt bunker tankers Coastal Neptune and Coastal Jupiter at a Guangzhou Hangtong Shipbuilding and Shipping Co Ltd shipyard.

The bank was seeking payment of US $3.6 million (exact: US $3,592,731.94), not including interest and other administrative charges, from corporate guarantors Coastal Oil Holdings Pte Ltd and Coastal Holdings Limited, and personal guarantors Tan Sing Hwa and Yeung Wing Sing.

The corporate and personal guarantors entered into an arrangement with DBS Bank on 4 June 2018 to pay HTFS’s remaining debt for both bunker tankers.

However, the bank had not received any payment from both corporate and personal guarantors after Coastal Oil Singapore Pte Ltd, a subsidiary of Coastal Oil Holdings Pte Ltd, was later placed under provisional liquidation on 13 December 2018.

Photo credit: steve pb from Pixabay
Published: 15 October, 2025

Singapore: Creditors’ meeting for Heng Tong Fuels & Shipping postponed to 22 October

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