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BIMCO adopts FuelEU Maritime and ETS clauses for sale and purchase of ships

FuelEU Maritime Regulation and EU ETS impact the sale and purchase of ships and the clauses have been developed to help provide certainty for both parties during the process.
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BIMCO RESIZED

International shipping association BIMCO on Thursday (11 December) said its Documentary Committee has adopted a FuelEU Maritime Clause and an ETS Clause for incorporation into Memoranda of Agreements (MoAs) for the sale and purchase of ships. 

The FuelEU Maritime Regulation and the EU Emissions Trading System (EU ETS) impact the sale and purchase of ships, and the clauses have been developed to help provide certainty for both parties during the process.

“Regulations such as the FuelEU Maritime and EU ETS are complex and reshape our industry. Therefore, contractual clarity is essential. The new clauses offer parties the tools they need to manage compliance obligations and avoid uncertainty during ship transactions,” said Stinne Taiger Ivø, Deputy Secretary General and Director of Contracts at BIMCO.

Both clauses are developed to clearly define responsibilities, costs and data-sharing obligations under the current regulatory frameworks, and the ETS clause can also be used for similar emission trading schemes that may come into force in the future. 

The FuelEU Maritime Clause for MoAs 2025 sets out the seller’s responsibilities to ensure compliance at the time of delivery of the ship. The clause includes provisions on disclosure of verified compliance balances for previous reporting periods and provides for a partial FuelEU report after delivery.

It also includes mechanisms for price adjustments, based on positive or negative compliance balances, restrictions on borrowing advance compliance balance before delivery and obligations for buyers to supply post-delivery data as needed. 

At delivery, buyers assume full responsibility for FuelEU compliance, including rights related to banking, borrowing, and pooling compliance balances.

The ETS Clause for MoAs 2025 provides a framework for allocating responsibilities related to greenhouse gas emission allowances during ship sale and purchase transactions. Sellers must comply with all reporting requirements for the period up to delivery, submit a verified partial emission report following delivery and surrender emission allowances for emissions incurred before transfer of ownership.

Buyers assume responsibility for emission allowances from the time of delivery onward. The clause also includes an indemnity provision to protect buyers against claims or liabilities arising from the sellers’ non-compliance prior to delivery to ensure clarity and fairness.

“With this latest addition, BIMCO is expanding its portfolio of carbon clauses to support the industry through regulatory change. Like the clauses already in the portfolio, the new clauses are practical, consensus-driven solutions which have been developed using input from a broad range of stakeholders to ensure that they work in practice,” said Nicholas Fell, Chair of BIMCO’s Documentary Committee.

 

Photo credit: BIMCO
Published: 12 December, 2025

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Winding up

Singapore: Notice of dividend issued for Hin-Leong linked Ocean Tankers

Second interim dividend for Hin Leong Trading’s shipping arm, Ocean Tankers Pte Ltd, is scheduled to be released from 31 July, according to Government Gazette notice.

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RESIZED ocean tankers

A notice of dividend for Ocean Tankers Pte Ltd, the shipping arm of collapsed oil trader Hin Leong Trading that is currently in liquidation, was published in the Government Gazette on June 11.

Ocean Tankers is part of a group of companies which include troubled Hin Leong, Universal Terminal, Tuas Terminal, and Ocean Bunkering Services (OBS).

It was reportedly owned by Lim Oon Kuin, the founder of Hin Leong Trading, and his daughter Lim Huey Ching. 

The following are details of the notice of dividend:

Name of Company : Ocean Tankers (Pte.) Ltd (In Liquidation)
Unique Entity No. / Registration No. : 197800020G
Address of Registered Office : One Raffles Quay, North Tower, Level 18, Singapore 048583
Court : General Division of the High Court of the Republic of Singapore
Number of Matter : HC/CWU 117/2021
Amount per centum : Second interim dividend of 2.00% of all admitted claims of unsecured creditors
When payable : 31 July 2026
Where payable : c/o Ernst & Young LLP, One Raffles Quay, North Tower, Level 18, Singapore 048583 

Related: Singapore: Notice of intended dividend issued for Ocean Tankers Pte Ltd
Related: Hin Leong in debt restructuring exercise; Ocean Tankers a separate entity, says CEO
Related: Ocean Tankers legal team publishes application to be placed under judicial management
Related: Judicial management applications for Hin Leong Trading and Ocean Tankers delayed
Related: Judicial managers of Ocean Tankers discover discrepancies and fraud in exposure claims
Related: Judicial managers of Ocean Tankers to present restructuring proposals to owners

 

Photo credit: Manifold Times
Published: 12 June, 2026

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Winding up

Singapore: Xin Hui Shipping to be wound up voluntarily, creditors to submit claims

Creditors are required on or before 11 July 2026 to send in their names and addresses and particulars of their debts or claims to appointed liquidators, says notice.
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Several resolutions for Xin Hui Shipping Pte Ltd, a subsidiary of the Lim family owned Xihe Holdings Pte Ltd, were made during an extraordinary general meeting held on 3 June, according to a notice in the Government Gazette on Friday (4 July).

The meeting was held at 8 Marina View, #40-04/05, Asia Square Tower 1, Singapore 018960 and by electronic means at 10am. 

The following resolutions were duly passed during the meeting:

SPECIAL RESOLUTION – WINDING-UP

That the Company be wound up voluntarily pursuant to Section 160(1)(b) of the Insolvency, Restructuring and Dissolution Act 2018.

ORDINARY RESOLUTION – APPOINTMENT OF LIQUIDATORS

That Mr. Lau Chin Huat and Mr. Yeo Boon Keong of Technic Inter-Asia Pte Ltd, 50 Havelock Road, #02-767, Singapore 160050 be and are hereby appointed as joint and several liquidators to conduct the said winding-up and that their remuneration be fixed on the usual scale of their professional charges for the work involved.

SPECIAL RESOLUTION – DISTRIBUTION OF ASSETS IN SPECIE

That the liquidators of the Company be authorised to exercise any of their powers given by Section 177, 144 (1) and (2) of the Insolvency, Restructuring and Dissolution Act 2018 and to distribute to members, in specie, any part of the assets of the Company.

In another notice, the liquidators said creditors for the company are required on or before the 11 July 2026 to send in their names and addresses and particulars of their debts or claims, and the names and addresses of their solicitors (if any) to the liquidators. 

Liquidators may also require creditors to, “come in and prove their debts or claims at such time and place as shall be specified in such notice, or in default thereof they will be excluded from the benefit of any distribution made before such debts are proved.”

The liquidator can be contacted at the following address:

Lau Chin Huat
Yeo Boon Keong
Joint and Several Liquidators
c/o Technic Inter-Asia Pte Ltd
50 Havelock Road #02-767 Singapore 160050
Tel: 6561 0398 Fax: 6222 1855
Email: [email protected]

 

Photo credit: steve pb from Pixabay
Published: 12 June, 2026

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Alternative Fuels

Ports of Barcelona and Shanghai team up to develop green ports, alternative bunker fuels

Agreement officially establishes the ‘sister ports’ relationship between Shanghai and Barcelona and aims to boost cooperation in areas such as developing green ports and alternative fuels.
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Ports of Barcelona and Shanghai team up to develop green ports, alternative bunker fuels

The Port of Barcelona on Thursday (11 June) said it signed a new strategic cooperation agreement with the Shanghai Municipal Transportation Commission (SMTC) and Shanghai International Port Group (SIPG).

The agreement officially establishes the “sister ports” relationship between Shanghai and Barcelona and aims to boost cooperation in areas such as the digitalisation and security of port operations; developing green ports and alternative fuels; intermodality and fostering sustainable maritime corridors between the Far East and the Mediterranean. 

The agreement was signed by José Alberto Carbonell, president of the Port of Barcelona; Xiao Hui, general director of the SMTC, and Yang ZhiYong, vice president of SIPG, in the presence of Jaume Duch, Regional Minister for European Union and Foreign Action. 

The relationship between the Port of Barcelona and the Port of Shanghai has intensified in recent years. In late July 2025, a preliminary agreement was signed between both port authorities, which led to a technical visit in September 2025 by a delegation from Shanghai led by Wang Haijian, Vice President and Director of Operations of SIPG, to advance the development of the Green Shipping and Digital Corridor between both ports. 

“This new institutional visit and the signing of the new agreement consolidates the Port of Barcelona’s position as a Euro-Mediterranean logistics hub and strengthens its links with one of the main ports and economic centres in the world,” the port said. 

 

Photo credit: Port of Barcelona
Published: 12 June, 2026

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