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Court orders appointment of liquidators for NewOcean’s subsidiaries

Eastern Caribbean Supreme Court of British Virgin Islands ordered for joint provisional liquidators to be appointed for firm’s two wholly-owned subsidiaries.

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Hong Kong-listed NewOcean Energy Holdings Limited which is currently undergoing liquidation, on Friday (12 May) said the Eastern Caribbean Supreme Court of the British Virgin Islands ordered for joint provisional liquidators to be appointed for its two wholly-owned subsidiaries.

Mr. Roderick John Sutton and Mr. Kenneth Fung, both of FTI Consulting (Hong Kong) Limited, and Mr. Aaron Luke Gardner of FTI Consulting (BVI) Limited were named as Joint Provisional Liquidators of NewOcean (Shenzhen) Energy Investment Limited and Sound Hong Kong Limited.

Manifold Times previously reported the company received a letter from the Hong Kong Stock Exchange providing additional guidance for the resumption of trading in the company’s shares.

Related: Hong Kong Stock Exchange issues additional trading resumption guidance to NewOcean Energy
Related: NewOcean gives quarterly update on suspension of trading
Related: Supreme Court of Bermuda orders NewOcean to appoint joint and several liquidators
Related: Hong Kong High Court orders NewOcean to appoint joint and several liquidators
Related: NewOcean joint provisional liquidators schedule first meeting of contributories|
Related: High Court of Hong Kong orders winding up of NewOcean Energy Holdings Limited
Related: NewOcean receives winding up petition from HSBC over alleged USD 71.5 million debt|
Related: NewOcean announces change of authorised representatives
Related: Court of Appeal for Bermuda orders winding up of NewOcean Energy Holdings Limited|
Related: NewOcean announces change of address of HK Branch Share Registrar and Transfer office
Related: NewOcean: Winding up petition proceedings in court adjourned to 2 September
Related: NewOcean delays release of FY 2021 results, ‘catastrophic credit freeze’ amongst reasons
Related: NewOcean: Winding up petition proceedings in court adjourned to 27 July
Related: Hong Kong Stock Exchange issues trading resumption guidance to NewOcean Energy
Related: NewOcean appoints law firm to oppose petition at 15 June hearing
Related: NewOcean warns of trading halt of company shares on HKSE from 1 April onwards
Related: NewOcean delays release of FY 2021 results, postpones AGM to Sep 2022
Related: NewOcean Energy auditor tender resignation over disagreement of FY 2021 audit fee
Related: NewOcean company secretary and authorised representative resigns on HQ relocation
Related: NewOcean Energy loses second Executive Director on HQ relocation to China
Related: NewOcean Energy HQ relocates to mainland China, Executive Director resigns
Related: NewOcean Energy officially begins ‘soft touch’ debt restructuring process
Related: NewOcean Energy reshuffles lineup of Independent Non-executive Directors
Related: NewOcean Energy defends against HSBC winding up petition, secures time for debt restructuring
Related: NewOcean: Winding up petition proceedings at Bermuda court to continue on 14 December
Related: NewOcean Energy Holdings forecasts 87% decrease net loss on year for 1H2021
Related: NewOcean posts USD 479 million FY 2020 loss; possible downsize of oil business
Related: NewOcean Energy delays release of 2020 financial results; to be published by end June
Related: NewOcean appoints Crowe as new auditors; replaces Deloitte Touche Tohmatsu
Related: NewOcean creditor scheme meeting dates at courts now ‘unrealistic’; delayed till further notice
Related: NewOcean auditors resign due to significant outstanding documents & information
Related: NewOcean revises creditor scheme meeting dates at Hong Kong, Bermuda Courts due to ‘substantial’ amendments
Related: NewOcean records USD 304.3 million loss, portion of SG bunkering business to remain
Related: NewOcean Energy issues USD 304.8 million net loss warning ahead of FY 2020 results
Related: NewOcean proposal to adjourn court scheme meeting approved by creditors
Related: NewOcean creditors meeting application granted by Supreme Court of Bermuda
Related: NewOcean planning creditors meeting, foundation of debt restructuring plan laid out
Related: NewOcean records USD 174 million 1H 2020 loss; Singapore bunkering business remains
Related: NewOcean Energy publishes profit warning to shareholders ahead of 1H 2020 results
Related: NewOcean Energy records 66% bunker sales jump to 4.5 million mt in FY 2019

Photo credit: Sora Shimazaki
Published: 17 May, 2023

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Newbuilding

Tsuneishi delivers world’s first methanol dual-fuel Ultramax bulker to NYK

“Green Future” was delivered at Tsuneishi factory on 13 May and will be chartered by NYK Bulk & Projects Carriers, an NYK Group company, from Kambara Kisen.

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Tsuneishi delivers world’s first methanol dual-fuel Ultramax bulker to NYK

Tsuneishi Shipbuilding on Wednesday (14 May) said it has delivered the world’s first methanol dual-fuel Ultramax bulk carrier, Green Future

The 65,700 dwt vessel was delivered at its factory on 13 May and will be chartered by NYK Bulk & Projects Carriers, an NYK Group company, from Kambara Kisen.

Tsuneishi Shipbuilding said the vessel maintains the high cargo capacity and fuel efficiency characteristic of the TESS66 Aeroline design series, while enabling more sustainable operations through the use of methanol as a fuel.

The methanol fuel tank has been positioned to maximise safety and facilitate smooth cargo handling while maintaining loading efficiency. It is also equipped with a fuel-efficient main engine and Tsuneishi’s proprietary Aeroline technology to reduce wind resistance, delivering superior fuel performance.

Mr Okumura Sachio, Representative Director, President & Executive Officer of Tsuneishi Shipbuilding, said: “This delivery marks just the beginning. We will continue constructing methanol dual-fuelled vessels at our overseas facilities and remain steadfast in our pursuit of technological innovation to contribute to a more sustainable maritime industry and global environment.”

NYK said the vessel is the first bulk carrier in the NYK Group to be equipped with a dual-fuel engine that uses methanol and fuel oil.

Vessel Particulars

LOA: 199.99 m
Breadth: 32.25 m
Depth: 19.15 m
Deadweight: approx. 65,700 metric tonnes
Capacity: approx. 81,500 m3
Draft: 13.8 m

 

Photo credit: Tsuneishi Shipbuilding
Published: 15 May, 2025

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Events

Green Shiptech China Congress to explore alternative bunker fuels and ship technologies

LNG, methanol and ammonia as well as fuel cell integration will be among key issues discussed at the annual conference which will be held on 25 to 26 September in Shanghai.

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Ridge China on Wednesday (14 May) announced it will be hosting the 14th Green Shiptech China Congress (GSCC), an annual conference which will be held on 25 to 26 September in Shanghai. 

More than 4,400 experts and decision makers from governments, classification societies, shipowners, shipyards, research institutes, technology/equipment suppliers and consulting companies attended the previous GSCC from 2012 to 2024. 

For 2025, over 400 industry experts, corporate decision makers and government officials will be engaged in comprehensive discussions on current issues of IMO, EU, USCG, China MSA’s policies and regulations, designs and standards for new ship models, innovative and sustainable green ship technologies at this annual conference.

Alternative bunker fuels such as LNG, methanol and ammonia as well as fuel cell integration will be part of the important issues discussed at the event. 

Speakers will be from

  • IMO
  • European Commission
  • U.S. Coast Guard
  • China MSA
  • Financial Institutions
  • Maritime Research Institutes
  • Solution & Technology Providers
  • Shipowners
  • Shipyards
  • Classification Societies

Key topics

  • Policies and Regulations Update and Interpretate by IMO, European Commission, U.S. Coast Guard and China MSA
  • Retrofitting Vessels to Achieve Decarbonization Goals
  • Energy Efficiency Continues to Be Key for Decarbonization
  • Decarbonization Through Digitalization
  • Digital Technologies As a Key Enabler for Emissions Reduction
  • Impact of a Hull Coating Upgrade on Hull Efficiency
  • LNG As Marine Fuel: Pivoting Towards Cleaner Shipping
  • Methanol As a Marine Fuel
  • Ammonia’s Credentials As a Green Fuel
  • Wind Propulsion Technology
  • Fuel Cell Integration: Upcoming Challenges and Opportunity
  • Propelling Carbon-neutral Shipping with Green Engines and Alternative Fuels
  • Next-generation Electric and Hybrid Marine Propulsion Technologies and Components
  • Latest Developments in Energy Storage Systems

Interested parties may contact:

Mr. Quin Xu
Tel: +86 21 6607 8610 -8003
Mob: +86 13564222811
Email: [email protected] 

Note: The English and Chinese version of the event website can be found here and here respectively while the event registration can be found here

 

Photo credit: Ridge China
Published: 15 May, 2025

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Bunker Fuel

TFG Marine to launch bunker fuel supply operations in Jamaica on 1 June

Firm will commence marine fuel supply operations at Port of Kingston and on north coast of Jamaica, with Scott Petroleum, a local supplier with insight into Caribbean bunker market.

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TFG Marine to launch bunker fuel supply operations in Jamaica from 1 June

Global marine fuel supply and procurement firm TFG Marine on Wednesday (14 May) said it will launch its bunkering service in Jamaica with its local partner, Scott Petroleum. 

The marine fuel supply operations will commence at the Port of Kingston as well as on the north coast of Jamaica, from 1 June.

 “The operation is being launched in partnership with Scott Petroleum, a trusted local supplier with over two decades of experience and unmatched insight into the Caribbean bunker market,” it said in a social media post. 

Very Low Sulphur Fuel Oil (VLSFO), High Sulphur Fuel Oil (HSFO) and Low Sulphur Marine Gas Oil (LSMGO) fuels will be sourced locally from the Petrojam Limited-operated Kingston refinery and will be supplied via the bunker barge operated by Scott Petroleum.

“By combining Scott Petroleum’s local insight with TFG Marine’s global expertise and commitment to innovation, this new venture aims to set a new benchmark for marine fuel supply in the region, delivering reliable, efficient and transparent bunkering services to vessels calling at this key Caribbean port,” the company said. 

Kenneth Dam, Head of Bunkering at TFG Marine, said: “We’re very happy to be setting up in Jamaica,” It’s a strategic location with strong demand and teaming up with Scott Petroleum means that we can hit the ground running with an existing reliable, well-run operation.

“We’re looking forward to bringing TFG Marine’s global expertise and fuel supply innovation to the Caribbean, and to raising the standard of service for marine fuel customers across the region.”

 Gary Scott, CEO at Scott Petroleum, said: “We are excited about our partnership with TFG Marine. The new venture will form a strong force to expand the bunker service being offered in Jamaica and will be able to capture other opportunities that exist in the region”

 Note: For inquiries regarding TFG Marine’s new vessel supply services in the region in collaboration with Scott Petroleum, contact [email protected] or [email protected]

 

Photo credit: TFG Marine
Published: 15 May, 2025

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