Business

ABS awards AiP for Value Maritime’s carbon capture system

Value Maritime’s CCS technology allows vessels to capture up to 40% of CO2 emissions, with potential of exceeding 90% in future; Filtree System has been installed on over 20 vessels from existing fleet.

Published

3 years ago

March 3, 2023

Admin

Classification society American Bureau of Shipping (ABS) has granted approval in principle (AiP) to Value Maritime (VM) for their Carbon Capture System onboard seagoing vessels, the latter said on on Wednesday (1 March).

The Filtree System – a prefabricated gas cleaning system that filters sulphur and 99% of particulate matter – includes a Carbon Capture Module that captures the CO2 onboard in a battery container.

The AiP confirmed Value Maritime’s Carbon Capture System as compliant with ABS’s rules for building and classing marine vessels and their requirements for onboard Carbon Capture and Storage (CCS), the firm added.

Value Maritime’s CCS technology allows vessels to capture up to 40% of CO2 emissions, with the potential of exceeding 90% in the future.

“Carbon capture onboard is a critical technology in the industry’s push for net zero. We are proud to be able to use our experience to support innovative ideas like Value Maritime’s Filtree System that gives clients more options in the marketplace. The Filtree system follows ABS onboard carbon capture requirements and promises to materially advance the adoption of this technology at sea,” said John McDonald, ABS Executive Vice President and Chief Operating Officer.

Christiaan Nijst, Co-Founder & Director – Value Maritime, said: “Carbon Capture onboard ships has always made sense to us. We just needed to figure out the most efficient way of making it happen. Thanks to ABS’s Approval in Principle for our Carbon Capture System we can share our latest green technology with the existing shipping fleet and newbuild market.”

The Filtree System has already been installed on over 20 vessels from the existing fleet. The Filtree System is set to be installed on the newbuild container vessels of Nordic that are operated by BG Freight Line and which will additionally feature the modular CO2 capture and storage system. This technology captures CO2 from exhaust emissions and uses it to charge a “CO2 battery,” where it is stored and transported to shore. On shore, the CO2 is discharged for use, for example, in the agricultural industry, after which the battery is returned to the vessel to be recharged, thus representing a 100% circular solution.

Photo credit: Value Maritime

Published: 3 March, 2023

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

11 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

11 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

11 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