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Ghana investigating illegal MGO sales to vessels

The country recorded a 2,000% increase in bonded MGO sales but finds most product routed back to domestic market, says government official.

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A sudden increase in unaccounted bonded marine gas oil (MGO) sales to vessels has caused Ghana authorities to start investigations, while proposing taxes as a solution.

“We have been receiving requests for marine gas oil, which in essence is diesel to bunker ocean-going vessels, and the volumes have been increasing over time,” Hassan Tampuli, CEO of the National Petroleum Authority (NPA), told Ghana Web.

“We observed that there has been some 2,000% increase in the demand, and this cannot be mathematically feasible so we have had to interrogate the demands.

“We checked, and it turns out that some of the vessels that were claimed to be bunkered were not even in Ghana. So somebody takes the product and immediately dumps it on the Ghanaian market without paying the necessary taxes, levies and margins.”

According to Tampuli, the illegal activity will damage business activities in the private sector.

“You don’t only distort the market but you create an avenue for businesses which want to do genuine business to begin to follow you, because they cannot compete with you; and if they cannot compete with you, they have to lay-off their workers,” he says.

“The business of government is to create an enabling environment for businesses to thrive and create jobs. We intend to give opportunities for the private sector to operate, expand and create more jobs. What is happening right now is something that goes contrary to the above aims of government, and we will stop at nothing to stamp out this bad practice.”

Tampuli suggested the introduction of taxes for MGO as a solution.

“We have, in collaboration with the Ministry of Finance, proposed the imposition of taxes, levies and margins on all marine gas oil to discourage criminal elements from distorting the market,” he said.

Publication date: 12 January, 2018
 

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Vessel Arrest

Singapore: Chemical tanker “Green Land” placed under Sheriff’s arrest, boxship also detained

Ships including “Xin Xin Shan” were added to list of vessels under Sheriff’s arrest in Singapore’s court system; arrests were made on behalf of law firms PDLegal LLC and DennisMathiew.

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Saint Kitts and Nevis-flagged oil and chemical tanker Green Land was arrested in Singapore waters on Wednesday (17 April). 

The 46,136 DWT vessel was added to the list of vessels under Sheriff’s arrest in Singapore’s court system. 

According to the list, the vessel was arrested at 3.30pm and the arresting solicitor listed was law firm PDLegal LLC. The ship is currently held at Global OM (Offshore & Marine) – Grid 3816C. 

No further details regarding the reason behind the arrest were provided in the list. 

China-flagged container ship Xin Xin Shan was also placed under Sheriff’s arrest at 12.10pm on 20 April.  The ship is currently held at Eastern Anchorage and the arresting solicitor listed was law firm DennisMathiew. 

 

Photo credit: Admiral Gulf / MarineTraffic
Published: 23 April 2024

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Winding up

Singapore: Liquidator issues notice of dividend for Paliy Marine Engineering

Liquidator of Paliy Marine Engineering, which is undergoing voluntary liquidation, issued a notice on the first and final dividend.

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A notice of dividend for Paliy Marine Engineering Pte Ltd, which is undergoing voluntary liquidation, was published on the Government Gazette on Friday (19 April).

The following is the details of the notice:

Name of Company : Paliy Marine Engineering Pte. Ltd. (In Creditors’ Voluntary Liquidation) 

Unique Entity No. / Registration No. : 199608223D 

Address of Former Registered Office : 149 Rochor Road #03-28 Singapore 188426 

Amount per centum : 100 per centum of all admitted preferential claims 12.21 per centum of all admitted ordinary claims 

First and Final or otherwise : First and Final 

Name of Liquidator : Abuthahir Abdul Gafoor 

Address of Liquidator : c/o AAG Corporate Advisory Pte. Ltd. 144 Robinson Road #14-02 Robinson Square Singapore 068908

According to SGP Business website, the firm’s principal activity is building and repairing of ships, tankers and other ocean-going vessels. 

Related: Singapore: Paliy Marine Engineering liquidator issues intended dividend notice

 

Photo credit: steve pb from Pixabay
Published: 23 April 2024

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Business

Singapore: Notice of dividend issued for An Tai Shipping

Notice to declare dividend of An Tai Shipping Pte Ltd, that is being wound up voluntarily, to its creditors was published on the Government Gazette.

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A notice to declare dividend of An Tai Shipping Pte Ltd, that is being wound up voluntarily, to its creditors was published on the Government Gazette on Friday (19 April).

Details of the notice of dividend for An Tai Shipping are as follows:

Name of Company : An Tai Shipping Pte. Ltd. (In Creditors’ Voluntary Liquidation)

Unique Entity No. / Registration No. : 201605265G

Address of Former Registered Office : 21 Bukit Batok Crescent, #22-70 WCEGA Tower, Singapore 658065

Amount per centum : 100 per centum of all admitted preferential claims

25.81 per centum of all admitted ordinary claims

First and Final or otherwise : First and Final for preferential claims, First for ordinary claims

Name of Liquidators : Abuthahir Abdul Gafoor & Yessica Budiman

Address of Liquidators : c/o AAG Corporate Advisory Pte Ltd, 144 Robinson Road, #14-02 Robinson Square, Singapore 068908

 

Photo credit: Benjamin-child
Published: 22 April 2024

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