Legal

Denmark: Supreme Court upholds Monjasa victory in São Tomé bunker cargo dispute

Monjasa will not be liable to pay USD 6.5 million as compensation to Stena Oil over the sale of bunker fuel cargo in the State of São Tomé in 2013.

Published

5 years ago

February 17, 2021

Admin

Disclaimer: An online translation service was used in the production of the current editorial piece.

The Supreme Court of Denmark on Tuesday (16 February) backed a decision previously made by the High Court that bunker supplier Monjasa will not be liable to pay USD 6.5 million as compensation in a lawsuit initiated by Stena Oil over the sale of bunker fuel cargo in the State of São Tomé and Príncipe in 2013.

Two vessels were allegedly found trying to remove the bunker fuel from a vessel destined for Stena Oil without legal clearance from the Saotomese authorities. As part of legal proceedings, the bunker fuel cargo, then belonging to Stena Oil was confiscated by the state and was later sold to Monjasa.

Stena Oil then filed a court case for Monjasa to relinquish profits it made from the fuel in question as it sees itself to be the owner of the confiscated cargo and claims the event to be a form of state-sponsored piracy.

The Supreme Court, found that it must be assumed that the confiscation of the oil cargo and the subsequent sale of the oil to Monjasa have been decided and carried out by the competent Saotomese authorities, and that there is a legal basis for confiscation in São Tomé and Príncipe law.

“There must be completely extraordinary circumstances in order for the buyer, who supports the right to the confiscation decision, with reference to views on public order, to be held liable to the original owner of the confiscated item,” stated the Court in its ruling.

“The Supreme Court finds that Stena Oil has not established the existence of such exceptional circumstances in the present case […] it cannot therefore justify liability for Monjasa that the majority of the arbitral tribunal found that the sanctions imposed were overall unreasonable and disproportionate under the Convention on the Law of the Sea.”

A full copy of the ruling by the Supreme Court of Denmark is available here.

Photo credit: Wikimedia
Published: 17 February, 2021

Legal

Singapore withdraws remaining 127 charges against Hin Leong founder OK Lim

Lim Oon Kuin, also known as OK Lim, was issued a stern warning and a district court granted him a discharge amounting to an acquittal for these charges on 17 July.

Published

23 hours ago

July 21, 2026

Admin

Founder of collapsed oil trader Hin Leong Trading, Lim Oon Kuin, also known as OK Lim, has had the remaining 127 charges against him withdrawn, according to The Straits Times on Monday (20 July).

OK Lim was issued a stern warning and a district court granted him a discharge amounting to an acquittal for these charges, including those for cheating, on 17 July. The discharge means Lim cannot be prosecuted again for the same offences.

Lim, 84, is currently serving a 13½-year prison sentence after the High Court reduced his original 17½-year jail term in March 2026. He was convicted in 2024 on two cheating charges and one count of abetting forgery in a case prosecutors described as one of Singapore’s most serious trade finance frauds.

Lim was convicted in May 2024 of two charges of cheating the Hongkong and Shanghai Banking Corporation (HSBC) and one count of abetting forgery that proceeded to trial out of a total of 130 criminal charges.

He was first charged in court on 14 August 2020, and was subsequently handed further charges in court on 25 September 2020, 30 April 2021 and 24 June 2021 for his role in perpetuating fraud on various financial institutions.

A total of 130 charges were eventually brought against him for cheating and forgery-related offences.

Photo credit: Sora Shimazaki
Published: 21 July, 2026

Winding up

Singapore: Coastal Logistics Pte Ltd to be wound up voluntarily

Coastal Logistics was reportedly affiliated with troubled Singapore bunker player Coastal Oil (Singapore) Pte Ltd.

Published

23 hours ago

July 21, 2026

Admin

Several resolutions for Coastal Logistics Pte Ltd were made during an extraordinary general meeting held on 14 July, according to a notice in the Government Gazette on Friday (4 July).

The following resolutions were duly passed during the meeting:

As Special Resolution

That it has been proved to the satisfaction of the meeting that the Company cannot by reason of its liabilities continue its business and accordingly the Company be wound up voluntarily pursuant to Section 160(1)(b) of the Insolvency, Restructuring and Dissolution Act 2018 (No. 40 of 2018);

As Ordinary Resolutions

that Mr. Wong Pheng Cheong Martin and Ms. Koay May Yee, both care of FTI Consulting (Singapore) Pte Ltd, One Raffles Quay, #27-10 South Tower, Singapore 048583 be appointed as the joint and several Liquidators of the Company for the purpose of such winding up; and
that the Liquidators be at liberty to open, maintain and operate any bank account(s) or account(s) for monies received by them as Liquidators with such bank(s) as they deem fit; and
that a Committee of Inspection will not be formed.

Manifold Times previously reported Nicholas James Gronow, director of Heng Tong Fuels & Shipping and Coastal Logistics, filed statutory declarations for both companies stating the firms cannot continue their businesses due to liabilities.

Both companies were reportedly affiliated with troubled Singapore bunker player Coastal Oil (Singapore) Pte Ltd.

In 2019, several vessels owned by both firms entered the sale & purchase (S&P) market in Singapore.

Photo credit: Drew Beamer
Published: 21 July, 2026

Winding up

Singapore: Liquidator of Nan Shan Maritime Pte Ltd issues notice of dividend

Third interim dividend to admitted unsecured claims of Nan Shan Maritime is payable from 15 July, according to Government Gazette notice.

Published

6 days ago

July 16, 2026

Admin

A notice of dividend for Nan Shan Maritime Pte Ltd, which is currently in creditors’ voluntary liquidation, was published on the Government Gazette on Wednesday (15 July).

The following are the details of the notice:

Name of Company : Nan Shan Maritime (Pte.) Ltd.(In Creditors’ Voluntary Liquidation)
Unique Entity No. / Registration No. : 201701967H
Address of Registered Office : 10 Anson Road, #10-10, International Plaza, Singapore 079903
Amount per centum : 5.00 Per Centum of all admitted unsecured, claims
First and Final or Otherwise : Third Interim
When Payable : 15 July 2026
Where Payable : Entitlements will be made by way of cheque.

Photo credit: Drew Beamer
Published: 16 July, 2026