Business

V.Group acquires Maersk Tankers-founded fuel efficiency firm Njord

Njord will continue to operate under its own brand and will become part of V.’s wider portfolio of service offerings in V.Services.

Published

7 months ago

January 7, 2026

Admin

V.Group acquires Maersk Tankers-founded fuel efficiency firm Njord

V.Group (V.), the leading global marine services provider, on Monday (5 January) announced the acquisition of Njord, the maritime fuel efficiency and decarbonisation partner, founded by Maersk Tankers.

This acquisition marks a further expansion of V.’s fuel efficiency and decarbonisation ecosystem of technical expertise, experience and innovative technology.

The acquisition enhances V.’s ability to deliver value to shipowners and charterers by combining V.’s existing expertise in compliance and operational efficiency with Njord’s advanced systems and technology integration experience.

Njord will become the primary decarbonisation brand in the V. portfolio. The overall combined offering will provide shipowners and operators with enhanced technical capabilities for navigating the transition to cleaner and efficient operations, leveraging both companies’ established market positions. Njord will integrate closely with V.’s wider marine services platform to create a connected, end-to-end decarbonisation and efficiency offering.

The combination will address growing industry demand for comprehensive tools, solutions and insights that deliver measurable fuel efficiency improvements whilst supporting longer-term carbon reduction targets.

René Kofod-Olsen, Group CEO of V.Group, said: “This acquisition accelerates our ambition to become the leading fuel-efficiency and decarbonisation advisor and service provider. Njord’s technology integration capabilities combined with our operational expertise means we can now offer shipowners and operators a complete fuel efficiency and decarbonisation ecosystem – from compliance guidance through to the technical systems that make alternative fuels and efficiency measures work in practice. We look forward to welcoming Njord to V. and to continuing the close collaboration with their customers.”

Frederik Pind, Managing Director at Njord, said: “Becoming part of V. represents an exciting new chapter for Njord and for our customers and partners. Shipowners, charterers and operators are under mounting pressure from evolving regulations to find practical solutions for energy efficiency and long-term net zero pathways, and they need partners who can deliver expertise and results. Our combined technology integration capabilities and market-leading services mean we can now provide the comprehensive support our customers need to meet these challenges.”

Claus Gronborg, Chief Investment Officer, Maersk Tankers, added: “At Maersk Tankers, we are proud of what Njord has achieved and of having been part of the journey. We wish Njord every success as the company continues to grow within V.Group and we look forward to staying connected and continuing the collaboration.”

Njord will continue to operate under its own brand and will become part of V.’s wider portfolio of service offerings in V.Services. The leadership of Njord will continue to rest with Frederik Pind, Managing Director at Njord.

Photo credit: V.Group
Published: 7 January, 2026

Legal

Singapore withdraws remaining 127 charges against Hin Leong founder OK Lim

Lim Oon Kuin, also known as OK Lim, was issued a stern warning and a district court granted him a discharge amounting to an acquittal for these charges on 17 July.

Published

12 hours ago

July 21, 2026

Admin

Founder of collapsed oil trader Hin Leong Trading, Lim Oon Kuin, also known as OK Lim, has had the remaining 127 charges against him withdrawn, according to The Straits Times on Monday (20 July).

OK Lim was issued a stern warning and a district court granted him a discharge amounting to an acquittal for these charges, including those for cheating, on 17 July. The discharge means Lim cannot be prosecuted again for the same offences.

Lim, 84, is currently serving a 13½-year prison sentence after the High Court reduced his original 17½-year jail term in March 2026. He was convicted in 2024 on two cheating charges and one count of abetting forgery in a case prosecutors described as one of Singapore’s most serious trade finance frauds.

Lim was convicted in May 2024 of two charges of cheating the Hongkong and Shanghai Banking Corporation (HSBC) and one count of abetting forgery that proceeded to trial out of a total of 130 criminal charges.

He was first charged in court on 14 August 2020, and was subsequently handed further charges in court on 25 September 2020, 30 April 2021 and 24 June 2021 for his role in perpetuating fraud on various financial institutions.

A total of 130 charges were eventually brought against him for cheating and forgery-related offences.

Photo credit: Sora Shimazaki
Published: 21 July, 2026

Winding up

Singapore: Coastal Logistics Pte Ltd to be wound up voluntarily

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

Published

12 hours ago

July 21, 2026

Admin

Several resolutions for Coastal Logistics Pte Ltd were made during an extraordinary general meeting held on 14 July, according to a notice in the Government Gazette on Friday (4 July).

The following resolutions were duly passed during the meeting:

As Special Resolution

That it has been proved to the satisfaction of the meeting that the Company cannot by reason of its liabilities continue its business and accordingly the Company be wound up voluntarily pursuant to Section 160(1)(b) of the Insolvency, Restructuring and Dissolution Act 2018 (No. 40 of 2018);

As 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 appointed as the joint and several Liquidators of the Company for the purpose of such winding up; and
that the Liquidators be at liberty to open, maintain and operate any bank account(s) or account(s) for monies received by them as Liquidators with such bank(s) as they deem fit; and
that a Committee of Inspection will not be formed.

Manifold Times previously reported Nicholas James Gronow, director of Heng Tong Fuels & Shipping and Coastal Logistics, filed statutory declarations for both companies stating the firms cannot continue their businesses due to liabilities.

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

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

Photo credit: Drew Beamer
Published: 21 July, 2026

LNG Bunkering

PIL’s LNG dual-fuel boxship “Kota Elok” arrives in Singapore on maiden call

As the first of 13 new 13,000 TEU vessels joining its fleet, Kota Elok is equipped to operate on LNG and low-sulphur fuel oil that helps reduce our greenhouse gas emissions.

Published

12 hours ago

July 21, 2026

Admin

PIL's LNG dual-fuel boxship “Kota Elok” arrives in Singapore on maiden call

Singapore-based Pacific International Lines Pte Ltd on Monday (20 July) said its first 13,000 TEU LNG dual-fuel container vessel, Kota Elok, recently made her maiden call to Singapore on 15 July.

As the first of 13 new 13,000 TEU vessels joining its fleet, Kota Elok is equipped to operate on liquefied natural gas (LNG) and low-sulphur fuel oil that helps reduce our greenhouse gas emissions.

The vessel also incorporated energy-saving features and digital technologies to reduce fuel consumption and enhance operational performance, as well as a bow windshield to improve aerodynamics, contributing to improved fuel efficiency and lower emissions over the course of long-haul voyages.

“Following Singapore, Kota Elok will continue her voyage on our East Coast Service 1 (ES1) route to South America, calling at ports in Brazil, Uruguay, and Argentina before returning to Asia,” the company said in a social media post.

Kota Elok also became PIL’s first vessel to receive Lloyd’s Register certification for compliance with the IACS UR E26 and UR E27 cyber security requirements.

Developed by the International Association of Classification Societies (IACS), UR E26 and UR E27 are mandatory cyber resilience requirements for newbuild vessels contracted from 1 July 2024.

Photo credit: Pacific International Lines
Published: 21 July, 2026