Business

Econowind and Vertom to install wind-assist VentoFoil by end of 2022

Installing the VentiFoils is a big step forward in reducing (Co2) emissions and fuel consumption for Vertom’s current fleet, says Senior Technical Superintendent of Vertom.

Published

4 years ago

May 23, 2022

Admin

Netherlands-based Econowind and short sea owner and operator Vertom on Friday (20 May) announced their collaboration to install wind-assist VentoFoil units on multiple vessels by the end of 2022.

These will be retrofitted on the general cargo vessels MV Progress and MV Perfect, making it the first fleet order for Econowind.

“Vertom recognised the momentum for partnerships with a clear focus on decarbonising our business activities and supply chain,” said Thomas van Meerkerk of Vertom

“After closely considering the business case of the VentiFoil units, we are pleased to extend our collaboration with Econowind with another order for two vessels.”

VentiFoil

Econowind will install the next generation VentiFoils on the vessels: the VentoFoil.

The suction method has been upgraded, which results in limiting the amount of moving parts.

This next step by Vertom allows Econowind to further invest in production methods, making production faster.

Collaboration Continued

Vertom has been studying wind assisted propulsion in more detail for their vessels since signing the contract for the retrofit of two VentiFoils on the MV Anna, which will be installed in June 2022.

Vertom made the decision to invest in the VentiFoil, by also closely considering the following key variables:

EEXI, Carbon Intensity Index for existing ships;
CII, CO2 per nautical mile in operation;
EEOI, emission per cargo.

All ensuring a more sustainable performance by means of wind assisted propulsion.

“Installing the VentiFoils is a big step forward in reducing (Co2) emissions and fuel consumption for our current fleet,” said Rolf van Leeuwen, Senior Technical Superintendent of Vertom.

“It is, along with our upcoming newbuilding program, a good step towards reducing our carbon footprint.”

Vessels more sustainable and cleaner by wind assist propulsion

“We are delighted to add Vertom to our customer base and to make this next step in making shipping more sustainable together,” said Frank Nieuwenhuis, CEO of Econowind.

“The more installations we can retrofit, the more data we can attain and learn from.”

“This provides us with solid proof of how wind assisted ship propulsion is reducing emissions per nautical mile and improving vessels their EEXI / EEDI. This also serves as a justification for the investment; the costs of systems can be covered by the savings.”

Photo credit: Vertom
Published: 23 May, 2022

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

10 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

11 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

LNG Bunkering

PIL’s LNG dual-fuel boxship “Kota Elok” arrives in Singapore on maiden call

As the first of 13 new 13,000 TEU vessels joining its fleet, Kota Elok is equipped to operate on LNG and low-sulphur fuel oil that helps reduce our greenhouse gas emissions.

Published

11 hours ago

July 21, 2026

Admin

PIL's LNG dual-fuel boxship “Kota Elok” arrives in Singapore on maiden call

Singapore-based Pacific International Lines Pte Ltd on Monday (20 July) said its first 13,000 TEU LNG dual-fuel container vessel, Kota Elok, recently made her maiden call to Singapore on 15 July.

As the first of 13 new 13,000 TEU vessels joining its fleet, Kota Elok is equipped to operate on liquefied natural gas (LNG) and low-sulphur fuel oil that helps reduce our greenhouse gas emissions.

The vessel also incorporated energy-saving features and digital technologies to reduce fuel consumption and enhance operational performance, as well as a bow windshield to improve aerodynamics, contributing to improved fuel efficiency and lower emissions over the course of long-haul voyages.

“Following Singapore, Kota Elok will continue her voyage on our East Coast Service 1 (ES1) route to South America, calling at ports in Brazil, Uruguay, and Argentina before returning to Asia,” the company said in a social media post.

Kota Elok also became PIL’s first vessel to receive Lloyd’s Register certification for compliance with the IACS UR E26 and UR E27 cyber security requirements.

Developed by the International Association of Classification Societies (IACS), UR E26 and UR E27 are mandatory cyber resilience requirements for newbuild vessels contracted from 1 July 2024.

Photo credit: Pacific International Lines
Published: 21 July, 2026