Brightoil Petroleum (S’pore) Pte. Ltd., a wholly-owned subsidiary of Hong Kong-listed Brightoil Petroleum (Holdings) Limited, on Monday (27 July) said it has successfully reached settlement on the outstanding debts with Petco Trading Labuan Company Ltd (Petco) and other interested creditors in the Hong Kong court proceedings.
On Monday, the High Court of Hong Kong granted the dismissal of the winding-up petition earlier filed by
Petco against the company on 17 May 2019, it said.
The company added that trading of its shares on the Hong Kong Stock Exchange has been suspended since 3 October 2017 pending the publication of its Outstanding Financial Results, and will remain suspended until further notice.
Earlier developments of Brightoil (since late 2017 to date) can be found in the search results here.
Photo credit: Manifold Times
Published: 28 July, 2020
The top three positive movers in the 2020 bunker supplier list are Hong Lam Fuels Pte Ltd (+13); Chevron Singapore Pte Ltd (+12); and SK Energy International (+8), according to MPA list.
‘We will operate in the Singapore bunkering market from the Tokyo, with support from local staff at Sumitomo Corporation Singapore,’ source tells Manifold Times.
Changes include abolishing advance declaration of bunkers as dangerous cargo, reducing pilotage fees on vessels receiving bunkers, and a ‘whitelist’ system for bunker tankers.
Claim relates to deliveries of MGO to the vessels Pacific Diligence, Pacific Valkyrie, Pacific Defiance, Crest Alpha 1, and Pacific Warlock between March 2020 to April 2020.
3,490 mt of LSFO from Itochu Enex was lifted at Universal Terminal; the same bunker stem was bought by Global Marine Logistics and delivered by bunker tanker Juma to receiving vessel Kirana Nawa.
Representatives of Veritas Petroleum Services, Maersk, INTERTANKO, ElbOil Singapore, and SDE International provide insight from their respective fields of expertise on what lies ahead.