Legal

Chimbusco Pan Nation wins bunker claim case against Singapore firm

Hong Kong court orders Arkstar Ship Management to pay US $335,858 (without interest) to plaintiff.

Published

5 years ago

January 21, 2019

Singapore-listed Hoe Leong Corporation Limited (HLC) on Friday (18 January) said its subsidiary Arkstar Ship Management Pte Ltd (ASM) had been ordered by the High Court of Hong Kong Special Administrative Region to pay Hong Kong-based bunkering firm Chimbusco Pan Nation Petro-Chemical Co. Ltd (Chimbusco PN) its bunker claim of US $335,858.

ASM on 4 September 2015, in a legal suit initiated by Chimbusco PN, was summoned to the court over a failed payment in a sale contract relating to the supply of marine fuel oil to one of its vessels.

It claimed Chimbusco PN allegedly supplied contaminated bunker fuel to its vessel, resulting in the vessel being deferred from commencement of chartering services for a few months.

However, the court on 11 January 2019 “ruled against ASM on the basis that ASM’s defence and counterclaim was excluded according to the interpretation of the Contract and the factual finding that the bunkers were not contaminated”, according to HLC.

As such ASM has been order to pay Chimbusco PN a principal sum in the amount of US$335,858.31, together with interest at Prime Rate plus 1% from a date 30 days after the date of the invoice made on 17 February 2014 until the date of Judgment (11 January 2019) and at the Judgment Rate (i.e. 8.088% per annum).

Further ASM has to pay the cost of Chimbusco PN on a party-to-party basis.

“ASM is currently seeking legal advice and exploring all of its options in respect of the above-mentioned Order of the Court,” concluded a statement from Hoe Leong Corporation.

Published: 21 January, 2019

Incident

ENGINE: Algoa Bay closure spurs surge in bunker calls at nearby ports

Bunker demand has increased in Mozambique’s Nacala and Maputo ports as bunkering remains completely shut off in Algoa Bay, a source says.

Published

2 days ago

October 2, 2023

Admin

Ships sailing by Algoa Bay are forced to seek bunkers elsewhere as bunker operations remain suspended.

With Algoa Bay temporarily inaccessible for bunkering, ships being diverted to alternative ports in its vicinity to bunker.

Bunker demand has increased in Mozambique’s Nacala and Maputo ports as bunkering remains completely shut off in Algoa Bay, a source says. Ships are also seeking bunkers at other South African ports such as Durban and Cape Town.

VLSFO and LSMGO availability has remained steady so far in Durban, but availability could tighten there going forward because of the Algoa Bay crisis, a source says.

Some bunker buyers are still booking stems for deliveries in Algoa Bay in late October. They anticipate that bunkering could resume by that time, a port agent tells ENGINE. As of now, both onshore and offshore bunkering remain suspended, the port agent adds.

The reputational damage from the South African authority crackdowns could be immense. Even if the current issue is resolved and bunker operations resume, there may be lingering perceptions of Algoa Bay as a problematic location for bunkering, another source argues.

"Once bitten, twice shy," it says.

Algoa Bay bunkering has faced hightened scrutiny after the South African Revenue Service (SARS) detained bunker barges over import duty disputes earlier this month.

By Nithin Chandran

Manifold Times previously reported South African Revenue Service (SARS) issuing a media statement concerning the detention of five vessels involved in the fuel bunkering supply chain.

Source: ENGINE
Photo credit: MarineTraffic / Bernd Bölscher
Published: 2 October, 2023

Legal

Hong Kong-based Joint Vision Shipping plans windup of Times Shipping

Application for the winding up of Times Shipping scheduled to be heard at the High Court of the Republic of Singapore at 10.00 a.m. on 6 October 2023.

Published

1 week ago

September 26, 2023

Admin

Hong Kong-based Joint Vision Shipping Co., Limited (Hong Kong SAR Registration No. 3103011) is planning to windup Times Shipping Pte Ltd (Singapore UEN No. 202002249Z) at the High Court of the Republic of Singapore, according to a Monday (25 September) post on the Government Gazette.

Joint Vision Shipping first filed the application for the winding up of Times Shipping to the General Division of the High Court on 12 September 2023.

Following, the application for the winding up of Times Shipping has been scheduled to be heard in the General Division of the High Court of the Republic of Singapore at 10.00 a.m. on 6 October 2023.

Any creditor or contributory of the company desiring to support or oppose the making of an order of the winding up application may appear at the time of the hearing by himself or his counsel for that purpose; and a copy of the winding up application will be furnished to any creditor or contributory of the company requiring the copy of the winding up application by the undersigned on payment of the regulated charge for the same.

The Claimant’s address is 6/F Manulife Place, 348 Kwun Tong Road, Kowloon, Hong Kong.

The Claimant’s solicitors are Morgan Lewis Stamford LLC of 10 Collyer Quay #27-00 Ocean Financial Centre, Singapore 049315.

Photo credit: Manifold Times
Published: 26 September, 2023

Legal

Creditors meeting for Anjasmoro Maritime and affiliated sister firms to be held in Oct

Meeting will be held for the purposes of receiving a statement of the company’s affairs together with a list of creditors and the estimated amounts of their claims, amongst others.

Published

1 week ago

September 26, 2023

Admin

A creditors meeting for Anjasmoro Maritime and ten other sister maritime firms has been scheduled to be held by way of electronic means on 3 October 2023 at 1.00pm (SGT), according to the Government Gazette on Friday (22 September).

Information for the event is related to:

Anjasmoro Maritime Pte. Ltd. (Company Registration No. 200403118R) – 1pm (SGT)
Dewayani Maritime Pte. Ltd. (Company Registration No. 200105886G) – 1.30pm (SGT)
Fatmarini Maritime Pte. Ltd. (Company Registration No. 200207063H) – 2pm (SGT)
Gagarmayang Maritime Pte. Ltd. (Company Registration No. 200414648C) – 2.30pm (SGT)
Gandari Maritime Pte. Ltd. (Company Registration No. 200105809W) – 3pm (SGT)
Gandini Maritime Pte. Ltd. (Company Registration No. 200105885R) – 3.30pm (SGT)
Indradi Maritime Pte. Ltd. (Company Registration No. 200106034C) – 4pm (SGT)
Pramoni Maritime Pte. Ltd. (Company Registration No. 200807407R) – 4.30pm (SGT)
Tirtasari Maritime Pte. Ltd. (Company Registration No. 200107622K) – 5pm (SGT)
Wulansari Maritime Pte. Ltd. (Company Registration No. 200102335K) – 5.30pm (SGT)
Frabandari Maritime Pte. Ltd. (Company Registration No. 200207056H) – 6pm (SGT)

The creditors meeting will be held for the purposes of:

receiving a statement of the company’s affairs together with a list of creditors and the estimated amounts of their claims;
appointing liquidator(s);
appointing a committee of inspection of not more than 5 members, if thought fit; and
any other business.

Photo credit: Jo_Johnston from Pixabay
Published: 26 September, 2023