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Brightoil to focus on upstream business in future development following HKSE delisting

In a company update, Brightoil said it is seeking professional advice for devising feasible plans to protect the interests of stakeholders, creditors and minority shareholders.

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Brightoil Petroleum (Brightoil) Holdings Limited on Tuesday (27 October) published a company update stating it will continue to seek professional advice, and devise feasible plans, including considering the feasibility of a privatisation, to minimise the impact of the delisting to its including creditors and minority shareholders.

Brightoil said the operations of the company remain after the delisting and the management is of the view that the upstream business will continue to be the major focus of the company’s future development.

It added that the Board will work diligently to complete its current debt restructuring initiatives and continue to finalise and complete audited financial statements for Brightoil and its subsidiaries for the years ended 30 June 2018, 2019 and 2020.

Brightoil noted it is currently working closely with its auditors HLB Hodgson Impey Cheng Limited to ensure that the financial reports could be released as soon as practicable.

Brightoil announced on 11 September 2020 that a creditor filed with the High Court of Hong Kong Special Administrative Region (High Court) for the winding up of the company in relation to an alleged unpaid sum pursuant to a deed of guarantee allegedly signed by Brightoil.

Bright oil said the Petitioner and Brightoil had reached a settlement on Tuesday, 20 October 2020 and filed a Consent Summons with the High Court for the dismissal of the Petition. Once the court order is granted, the Petition will be dismissed, it added.

Related: HKSE: Brightoil Petroleum Holdings shares to be cancelled from 20 October, 2020
Related: Brightoil Petroleum Holdings responses to cancellation of company shares on HKSE/
Related: Brightoil Petroleum publishes notice regarding winding-up application filed by creditor

Photo credit: Brightoil Holdings Limited
Published: 29 October, 2020

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Safety

Singapore: MPA urges port users to stay vigilant during monsoon surge

Moderate to heavy showers and strong winds are expected from 19 to 21 March due to a north-east monsoon surge and as such, vessels must be properly secured for sea at all times, says MPA.

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RESIZED SG bunker tanker

The Maritime and Port Authority of Singapore (MPA) on Wednesday (19 March) has reminded owners, agents and masters of vessels to stay vigilant from 19 to 21 March due to a north-east monsoon surge. 

“Moderate to heavy showers, and strong winds are expected during this period. Vessels must be properly secured for sea at all times,” MPA said in a port marine notice.

“The life-saving and firefighting equipment onboard must also be in good working condition and in accordance with the International Code for the Safety of Life at Sea (SOLAS) regulations,” it said.

“Crew members shall be familiar with all emergency procedures, especially when embarking and disembarking passengers during adverse weather conditions. Vessels should maintain safe speeds, observe International Regulations for Preventing Collisions at Sea (COLREGs).”

Masters of vessels are reminded to keep a safe anchor watch. 

 

Photo credit: Manifold Times
Published: 20 March, 2025

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Alternative Fuels

Hong Kong-based Sun Ferry takes delivery of diesel-electric ferry “Xin Ming Zhu 30”

New vessel, designed by Incat Crowther and constructed by Guangzhou-based shipbuilder AFAI Southern Shipyard, will serve inter-island commuter and tourism operations across Hong Kong.

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Hong Kong-based Sun Ferry takes delivery of diesel-electric ferry “Xin Ming Zhu 30”

Global digital shipbuilder Incat Crowther on Wednesday (19 March) said Hong Kong-based ferry operator Sun Ferry has taken delivery of Xin Ming Zhu 30, a new, 35-metre diesel-electric ferry. 

The new vessel, designed by Incat Crowther and constructed by Guangzhou-based shipbuilder AFAI Southern Shipyard, is the third vessel to join a fleet of seven new vessels designed by Incat Crowther for the mass transit operator.

The vessel will serve inter-island commuter and tourism operations across Hong Kong, connecting Peng Chau, Mui Wo, Chi Ma Wan and Cheung Chau.

The 300-seat passenger ferry boasts Veth azimuth thrusters that provide high manoeuvrability at operating speeds of 14 knots. The adoption of this technology makes the vessel suitable for berthing at piers on inter island routes.

The vessel is also fitted with 72 solar panels providing 7.5 kilowatts of on-board power.

Sam Mackay, Technical Manager at Incat Crowther, said: "This vessel reflects Sun Ferry’s commitment to future focused design solutions that not only meet operational needs, but that exceed customer expectations.”

“With diesel-electric propulsion, solar technology, and passenger-centric design, it sets a new benchmark for sustainable and efficient ferry services in Hong Kong.”

The delivery of the 35-metre hybrid vessel follows the delivery of two 45-metre conventional diesel-powered vessels to Sun Ferry. The final three vessels, all 45-metre vessels, will be delivered by the end of 2025. All vessels in the fleet have been designed by Incat Crowther and built by AFAI Southern Shipyard.

 

Photo credit: Incat Crowther
Published: 20 March, 2025

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Biofuel

PRIO delivers Eco Bunkers B30 to two cargo ships at ports in Portugal

Company supplied the bio bunker fuel, a product containing 30% renewable raw materials, to “BBC Lisbon” at Port of Aveiro on 3 March and to “ANNA” at Port of Leixões on 18 March.

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PRIO delivers Eco Bunkers B30 to two cargo ships at ports in Portugal

Biofuels producer PRIO on Wednesday (19 March) said it carried out Eco Bunkers B30 fuel deliveries to shipping company Briese Chartering in collaboration with its partner UFS Unites Fuel Services this month.

On 3 March, PRIO supplied the biofuel to cargo vessel BBC Lisbon at the Port of Aveiro and to another cargo vessel, ANNA, at the Port of Leixões on 18 March. 

“With these two Eco Bunkers B30 deliveries, a product containing 30% renewable raw materials, PRIO enabled Briese Chartering to reduce around 60 tons of CO2 in just two port calls in Portugal,” it said in a social media post. 

“Produced at PRIO’s Aveiro plant, biodiesel has the potential to reduce GHG emissions by approximately 88% compared to fossil fuels.”

“PRIO has been demonstrating its commitment to decarbonising the maritime sector by supplying more sustainable products, ranging from 1% to 100% renewable content.”

Manifold Times previously reported PRIO launching its ECO Bunkers B30 biofuel in partnership with Norwegian Cruise Line Holdings and World Fuel Services.

PRIO previously launched ECO Bunkers B15, a green fuel for ships with 15% biodiesel and the company then launched a 20% biofuel blend, ECO Bunkers E20. 

Related: PRIO launches new 30% advanced biofuel bunker blend, made from waste feedstocks

 

Photo credit: PRIO
Published: 20 March, 2025

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