Connect with us

Business

Contributories/creditors to receive liquidation update of Hua Xin Shipping at upcoming AGM

Copies of the notice of the meeting on 5 August have been circulated to the contributories and creditors of the Company by post and/ or email.

Admin

Published

on

Screen Shot 2020 04 21 at 2.35.32 PM

The annual general meeting of Hua Xin Shipping Pte Ltd is scheduled to take place via electronic means on 5 August, according to a Thursday (21 July) notice on the Government Gazette.

The agenda of the meeting for contributories [1000 hrs] and creditors [1100 hrs] is:

  1. To receive an update on the liquidation.
  2. To receive an account of the Liquidators’ acts and dealings, and of the conduct of the winding up for the period 14 May 2021 to 13 May 2022.

A copy of the notice of the meeting of the Company on the aforementioned date and time has been circulated to the contributories/creditors of the Company by post and/ or email.

Any contributories/creditors of the Company who have not received the notice by this date is invited to contact the Liquidators’ representatives, Ms. Gwee Hui Fang ([email protected]) and Ms. Ashley Shanti ([email protected]), where upon satisfactory verification, a copy of the notice will be provided.

The Directors of Hua Xin Shipping, a subsidiary of Xihe Holdings, on May 2021 declared the company being unable to continue business operations.

Related: Singapore: Provisional liquidators appointed for Hua Xin Shipping, Hua Guang Shipping
RelatedGrant Thornton Singapore appointed interim judicial managers for Xihe subsidiaries

 

Photo credit: stevepb from Pixabay
Published: 22 July, 2022

Continue Reading

LNG Bunkering

MAN Energy Solutions rejoins SEA-LNG coalition

‘MAN ES, alongside other members of the SEA-LNG coalition, are making great strides in tackling methane slip in engine technologies where it still exists,’ says Peter Keller, SEA-LNG chairman.

Admin

Published

on

By

MAN Energy Solutions rejoins SEA-LNG

Global multi-sector industry coalition SEA LNG on Thursday (20 June) announced that MAN Energy Solutions (MAN ES) will rejoin its coalition.  

As a provider of flexible and powerful propulsion solutions for LNG marine applications, SEA LNG said MAN ES caters to the growing demands of the shipping industry for LNG propulsion and equipment across dual fuel LNG-powered ships, LNG carriers, FRSUs, LNG feeder and bunker vessels, as well as for gas supply infrastructure. All MAN ES technology is fully compatible with net-zero biomethane and e-methane.

“MAN ES’s technical expertise adds to the technical skills and experience of SEA-LNG members, already achieving reductions in greenhouse gas (GHG) emissions. MAN ES’s two-stroke high-pressure engine technology is one of those delivering virtually no methane slip in the LNG combustion process today,” it said.

In addition, MAN ES is making significant progress in eradicating methane slip in its four-stroke engines. Over the last ten years, MAN ES has already been able to halve methane slip in its four-stroke gas engines and is aiming for a further 20% reduction by continuously improving the combustion process.

MAN ES's IMOKAT II project has secured investment from the German Federal Ministry for Economics and Climate Action to develop an after-treatment technology to further reduce methane slip from its four-stroke engines, ultimately aiming for a 70% reduction of methane emissions at 100% load.  

Stefan Eefting, Senior Vice President and Head of MAN PrimeServ Germany at MAN Energy Solutions, said: “While shipping remains the most environmentally-friendly form of transport, the many vessels powered by our technology means that MAN Energy Solutions has a special responsibility to help move the industry to net-zero; we are very happy to work with like-minded partners in achieving this.”

“Our unique ability to assess the future-fuel mix is, in great part, based on our dual-fuel engine development, which promotes LNG and other alternative green fuels that have a key role to play on the path to decarbonisation.” 

Peter Keller, SEA-LNG chairman, said: “The shipping industry’s decarbonisation drive is at a tipping point as global and regional regulations begin to impact shipowners financially.”

“As these regulatory changes continue to be felt, LNG as a marine fuel, and its decarbonisation pathway through liquified biomethane and e-methane, offers the most practical and realistic solution. The LNG solution is playing a critical role in enabling emissions reductions, starting today.”

“If we want to continue to unlock this pathway’s potential, we need the right expertise and MAN ES’s experience and insights will be critical to ensuring LNG, biomethane and e-methane firmly take their place in the basket of alternative marine fuels.”

Keller continued: “We are proud to represent the entire LNG value chain, and the addition of MAN ES only adds to our roster of industry-leading first movers to promote the LNG pathway. In particular, MAN ES, alongside other members of the SEA-LNG coalition, are making great strides in tackling methane slip in engine technologies where it still exists. With constant advances in technology, we are confident the issue of methane slip can be solved within this decade.” 

 

Photo credit: MAN Energy Solutions
Published: 21 June, 2024

Continue Reading

Bunker Fuel

LR report highlights potential of LPG as bunker fuel in delivering emission reduction

Study, however, outlines that technology readiness will need to improve for LPG to become a viable choice for shipowners and operators looking to transition their fleet to low and zero-carbon vessels.

Admin

Published

on

By

LR report highlights potential of LPG as bunker fuel in delivering emission reduction

Using liquefied petroleum gas (LPG) as a marine fuel could deliver a significant carbon reduction, particularly alongside other emissions reduction and energy saving technologies, helping shipowners comply with more stringent regulations into the next decade, according to Lloyd’s Register recently.

The Fuel for Thought: LPG, a joint report from Lloyd’s Register (LR) and the World Liquid Gas Association (WLGA) has found that the market for dual-fuel LPG engines will continue to grow based on a healthy orderbook, with LPG offering a cleaner, lower carbon emission marine energy source than many alternatives currently available.

According to the report, the use of LPG as a marine fuel combined with technology such as Onboard Carbon Capture and Storage (OCCS) can reduce a vessel’s emissions profile, with the added benefit of reducing the required CO2 storage capacity, due to the lower CO2 emissions from LPG combustion. This allows the technology to work more effectively and offers shipowners a pathway towards future regulatory compliance.  

The report, however, outlines that technology readiness will need to improve for LPG to become a viable choice for shipowners and operators looking to transition their fleet to low and zero-carbon vessels.  

Although well established, the range of available engine technologies will need to be expanded to enable widespread adoption of LPG on multiple vessel types. 

Currently there is no four-stroke marine engine capable of using LPG, meaning auxiliary engines on vessels would need to be decarbonised through an additional fuel.

A safe bunkering framework must be also developed to encourage uptake of LPG. Regulations remain in their early stages, with interim guidelines recently published by IMO.

Panos Mitrou, Global Gas Segment Director, Lloyd’s Register, said: “The pace and scale of renewable production for LPG remains a critical factor in initiating the wider adoption of LPG as a marine fuel.”

“Supportive energy-saving technologies, as along with potentially maturing onboard carbon capture and storage, will further assist in making LPG a viable low-zero carbon fuel.”

“By ensuring this, LPG could offer attractive operating and capital costs compared to other alternative fuels as shipowners look to decarbonise their fleets in line with more stringent regulations."

Nikos Xydas, World Liquid Gas Association Technical Director, said: “LPG stands as a unique and exceptional energy source, pivotal for decarbonising the shipping sector.”

“Stored and transported as a liquid and consumed as a gas, it is well recognised for its lower emission benefits as a marine fuel. With a surge in orders for LPG-fuelled ships, it's clear that LPG's role in the shipping industry is expanding.”

“As the world moves towards deep decarbonisation targets, LPG emerges as an ideal fuel for all vessel types, offering a cleaner alternative fuel today and a pathway for an even cleaner future tomorrow.”

“Its flexibility, low emissions, and cost-effectiveness position LPG as the potential fuel of choice in the shipping sector, paving also the way for low-cost deep-sea decarbonisation with the advent of bio/renewable LPG.”

Note: The ‘Fuel for Thought: LPG’ report can be found here.

 

Photo credit: Lloyd’s Register
Published: 21 June, 2024

Continue Reading

Business

Interview: Malaysia bunker supplier PSP Marine shares commercial expansion plans

‘IMO 2020 has produced several business opportunities which we are keen to explore as part of efforts to support shipping’s decarbonisation,’ Managing Director tells Manifold Times.

Admin

Published

on

By

PSP Grace MT

Malaysian bunker supplier PSP Marine (M) Sdn Bhd, established at Port Klang since 2012, is planning to expand its marine fuels business within the coming years, learned Manifold Times.

The company, which currently supplies marine gas oil (MGO), its low sulphur variant (LS MGO), and lubricant oil to vessels calling Peninsula Malaysia ports (including Sabah and Sarawak), is actively looking at market opportunities, says its Managing Director.

“We have stood the test of time and proven ourselves in this industry since our inception,” Soon Thian Fong told the bunkering publication.

“In order for our group to grow, become more resilient, and to tackle more complex and intricate challengers, we are expanding our bunkering business to other ports in Malaysia.

“We have successfully expanded to the Port of Tanjung Pelepas, Pasir Gudang Port, Melaka Sungai Udang Port, and Kuantan Port.

“Moreover, we aim to diversify into international petroleum cargo trading. Our target markets are Asian countries with growth and scarce energy supplies such as Taiwan, Singapore, and Indonesia.”

PSP bunkering collage

Bunker deliveries from PSP Marine are currently supported by three Malaysia-flagged bunker tankers namely PSP Grace (755 dwt, IMO 9056466), PSP Glory (737 dwt, IMO 8403038), and PSP Golden (1,198 dwt, IMO 9079652).

Moving forward, Mr Soon highlights the company to be looking at barge acquisition opportunities and a product portfolio expansion to offer Very Low Sulphur Fuel Oil (VLSFO).

“The next two years will be interesting times for our company as we look to execute the expansion plans. IMO 2020 has produced several business opportunities which we are keen to explore as part of efforts to support shipping’s decarbonisation,” shared Mr Soon who noted, “opening of an office in Singapore is also within our sights.”

PSP Group supply locations

Contact details for enquiries are as follows:

Mr. Soon Thian Fong (AZ Soon)
Managing Director
+60 12 699 4488
[email protected]

Jane Ong
Sales Manager
+60 14 609 4488
[email protected]

Marine fuel enquiries
Email: [email protected]

Bunkering locations (West Malaysia)

LANGKAWI, PENANG, LUMUT, PORT KLANG, PORT DICKSON, KUALA LINGGI, MELAKA, MUAR, TG PELEPAS, TG BIN, JOHOR BHARU, PASIR GUDANG, PENGERANG, MMHE, TG LANGSAT, KEMAMAN, KUANTAN,

Bunkering locations (East Malaysia)

MIRI, BINTULU, SANDAKAN, SEPANGAR, KOTA KINABALU, TAWAU, LAHAD DATU, KUCHING

 

Photo credit: PSP Marine
Published: 24 June 2024

 

Continue Reading
Advertisement
  • SBF2
  • v4Helmsman Gif Banner 01
  • Aderco advert 400x330 1
  • EMF banner 400x330 slogan
  • RE 05 Lighthouse GIF
  • Consort advertisement v2

OUR INDUSTRY PARTNERS

  • SEAOIL 3+5 GIF
  • HL 2022 adv v1
  • Triton Bunkering advertisement v2
  • Singfar advertisement final
  • 102Meth Logo GIF copy


  • PSP Marine logo
  • CNC Logo Rev Manifold Times
  • Auramarine 01
  • MFA logo v2
  • E Marine logo
  • Synergy Asia Bunkering logo MT
  • intrasea
  • Kenoil
  • SMS Logo v2
  • Cathay Marine Fuel Oil Trading logo
  • 400x330 v2 copy
  • VPS 2021 advertisement
  • Advert Shipping Manifold resized1
  • Headway Manifold

Trending