Business

Moeve and Galp target H2 2026 agreement on downstream merger

Maarten Wetselaar, CEO, says the company has made strong progress with the proposed downstream merger with Galp and expects to sign definitive agreements in the second half of the year.

Published

2 hours ago

August 3, 2026

Admin

Moeve and Galp target H2 2026 agreement on downstream merger

Spanish energy major Moeve said on Friday (31 July) it has made significant progress on its proposed downstream merger with Galp, with the companies expecting to sign definitive agreements in the second half of 2026.

Moeve, formerly Cepsa, is a marine fuels provider in Spain. The company offers 2G biofuels, LNG, and conventional marine fuels including VLSFO, MGO and HSFO.

Manifold Times previously reported Galp and Moeve’s shareholders reaching a non-binding agreement to advance detailed discussions on the potential combination of their downstream portfolios with the aim of creating two leading energy companies in the Iberian Peninsula: the “RetailCo” and the “IndustrialCo”.

In announcing its financial results for H1 2026, Moeve said discussions with Galp continue to progress constructively, with all parties remaining engaged in advancing a transaction that has the potential to create significant strategic value and strengthen the role of the Iberian Peninsula in the energy transition by creating differentiated platforms with the resilience and investment capacity required to deliver change at pace.

“Given the scale of the proposed combination, a potential agreement is targeted to be signed during the second half of 2026,” it said.

Maarten Wetselaar, Moeve CEO, said: “Moeve delivered solid results and advanced record energy transition investments, including for the construction of Europe’s largest green hydrogen project. We have made strong progress with the proposed downstream merger with Galp and expect to sign definitive agreements in the second half of the year.

“Looking ahead, our strategy remains focused on building a more resilient and sustainable European energy industry, reducing dependence on imported fossil fuels. Continued geopolitical tensions and disruptive weather events are a reminder of why this energy transition is so urgent.”

Photo credit: Moeve
Published: 3 August, 2026

Winding up

Notice of dividend issued for defunct Singapore bunker supplier Inter-Pacific Petroleum

First and final dividend for admitted preferential claims and unsecured claims of Inter-Pacific Petroleum is payable from 31 July, according to Government Gazette notice.

Published

2 hours ago

August 3, 2026

Admin

A notice of dividend for defunct Singapore bunker supplier Inter-Pacific Petroleum Pte Ltd, currently in compulsory liquidation, was published on the Government Gazette on Friday (31 July).

The following are the details of the notice:

Name of Company : Inter-Pacific Petroleum Pte. Ltd. (In Compulsory Liquidation)
Unique Entity No./ Registration No. : 201115209N
Address of Registered Office : c/o 6 Shenton Way, OUE Downtown 2 #33-00, Singapore 068809
Court : The High Court of the Republic of Singapore
Number of Matter : Companies Winding Up No.: HC/CWU 37/2021
Amount per centum : 100 cents per Singapore dollar for admitted preferential claims; 0.21 cents per Singapore dollar for admitted unsecured claims
First and Final or Otherwise : First and final dividend for admitted preferential claims; First and final dividend for admitted unsecured claims
When payable : From 31 July 2026 onwards
Where payable : Dividends will be made by interbank transfer to the nominated bank account submitted by the creditor of the Company

Manifold Times previously reported the Appellate Division of Singapore’s High Court finding a former Director of Inter-Pacific Petroleum (IPP) not liable to pay up to USD 146 million of the company’s total USD 156 million loss.

The decision sets aside an earlier decision by the High Court that found Dr Goh Jin Hian responsible for the company’s financial loss.

The Appellate Division of the High Court found that even though it agreed that Dr Goh had breached his duty of care as a director, IPP has failed to show that his breach caused loss to the company.

Lester Ho, Associate Director of multi-disciplinary law firm Helmsman LLC previously shared his timely key takeaways on the case of Dr Goh v Inter-Pacific Petroleum when the Appellate Division of the High Court in Singapore overturned the High Court’s finding that Mr Goh’s breach had caused IPP to incur the losses.

Photo credit: Drew Beamer
Published: 3 August, 2026

LNG Bunkering

Shanghai Port surpasses 2 million m³ LNG bunkering milestone with PIL vessel

Achievement was reached on 25 July when PIL’s “Kota Eagle” vessel received 4,549 m3 of LNG marine fuel from SIPG Energy’s LNG bunkering vessel at the Lvhuashan Anchorage off the coast of Shanghai.

Published

2 hours ago

August 3, 2026

Admin

Shanghai Port surpasses 2 million m³ LNG bunkering milestone with PIL vessel

Shanghai Port has surpassed 2 million cubic metres (m³) of cumulative LNG bunkering volume, with Pacific International Lines’ (PIL) Kota Eagle participating in the milestone operation, the Singapore-based container operator said on Monday (3 August).

The company said the achievement was reached on 25 July when PIL’s Kota Eagle vessel received 4,549 m3 of LNG marine fuel from SIPG Energy’s LNG bunkering vessel at the Lvhuashan Anchorage off the coast of Shanghai, China.

“As part of our commitment to decarbonisation, PIL is modernising our fleet by investing in LNG dual-fuel vessels,” it said.

“Delivered in 2024, Kota Eagle is PIL’s first LNG dual-fuel container vessel, and it also completed its maiden LNG bunkering operation at Shanghai’s Yangshan Port. To date, we have taken delivery of nine LNG dual-fuel newbuild vessels.”

PIL added that the landmark achievement by Shanghai Port reflects its rapidly growing bunkering capabilities, which provide the critical support needed for the efficient operation of our expanding fleet of greener vessels.

Photo credit: Pacific International Lines
Published: 3 August, 2026

Methanol

China’s first domestically developed Ultramax methanol dual-fuel bulker pair named

SDARI says two 65,000 dwt methanol dual-fuel bulk carriers, “LEM AZALEA” and “LEM PLUMERIA”, were named on 27 July at Guangzhou’s Nansha district.

Published

2 hours ago

August 3, 2026

Admin

China's first domestically developed Ultramax methanol dual-fuel bulker pair named

Shanghai Merchant Ship Design and Research Institute (SDARI) on Wednesday (29 July) said two 65,000 dwt methanol dual-fuel bulk carriers, LEM AZALEA and LEM PLUMERIA, were named on 27 July at Guangzhou’s Nansha district.

The vessels were designed by the SDARI, part of China State Shipbuilding Corporation (CSSC), for Cyprus-based Lemissoler Navigation and built by CSSC Huangpu Wenchong Shipbuilding.

According to SDARI, the vessels are the institute’s first methanol dual-fuel bulk carrier design and China’s first domestically developed Ultramax methanol dual-fuel bulk carriers.

The bulk carriers are equipped with a methanol dual-fuel propulsion system comprising a conventional fuel tank and two dedicated high-capacity methanol fuel tanks, allowing operators to switch flexibly between fuels while meeting current and anticipated IMO requirements on carbon reduction and sulphur emissions.

The vessels are also fitted with an auxiliary lithium battery system to supply onboard lighting power, reducing overall energy consumption.

Compared with conventionally fuelled bulk carriers, the methanol dual-fuel design is expected to significantly reduce carbon dioxide, sulphur oxide, nitrogen oxide and particulate matter emissions.

SDARI said the project fills a gap in China’s domestically developed methanol dual-fuel bulk carrier segment in the 65,000 dwt class and provides a mature and scalable design that can be replicated for future vessels.

Photo credit: CSSC Huangpu Wenchong Shipbuilding
Published: 3 August, 2026