International bunkering firm GP Global (formerly Gulf Petrochem Group) will be claiming approximately $11.6 million from a November 2014 bunker dispute with Petrotec, according to the final Singapore High Court judgement on Friday (6 April).
“[…] since Gulf does not have title to the Surplus Oil, its claims for a delivery up of the Surplus Oil and/or for damages for conversion or detinue are dismissed,” concluded judge Woo Bih Li J.
“Instead, Petrotec is to pay Gulf US$8,123,896.43 as the purchase price of the Surplus Oil.
“In addition, Petrotec is to pay Gulf US$3,447,582.87 as the aggregate amount due and owing under the nine outstanding debit notes. Also, the Guarantors are jointly and severally liable to pay those two sums to Gulf.”
Gulf’s claim against Petrotec was for delivery of 15,309 metric tonnes (mt) of fuel oil (the Surplus Oil) which Petrotec had allegedly received and held on behalf of Gulf.
Petrotec was a Singapore-incorporated company engaged in the business of dealing in marine petroleum products and providing fuel oil delivery services. It was originally set up by Tan Keng Huat, Dennis (Dennis Tan) in 2007 to provide offshore engineering services, and started to deal in fuel oil in 2011.
Dennis Tan also manages Tankoil, a company involved in the ongoing O.W. Bunker/Dynamic Oil trail taking place at an Aalborg Court in Denmark.
Photo credit: GP Global
Published: 10 April, 2018
The bank is filing an application for pre-action discovery at the High Court of the Republic of Singapore in order to ascertain its future direction of proceedings against Sinfeng, according to court documents.
‘We need to keep in mind the saying “penny wise pound foolish”,’ says Captain Rahul Choudhuri, the Managing Director AMEA at VPS, who stresses on the essential role of the Bunker Surveyor.
Legal representatives met at the High Court on Tuesday to discuss the discharge of KPMG liquidators from all liability in respect of conduct in the course of winding up, show court documents.
Global sentence adjusts to 80 month’s imprisonment term for both Chang and Koh under application of the Masui sentencing framework; fine of SGD 6.2 million against Chang remains unchanged.
Company has been ranked EIGHTH for 2020; ‘we are humbled and proud to be placed amongst the top ten winners of the Enterprise 50 Awards,’ says Satnam Singh, COO, Sing Fuels.
Mads Bjornebye, Manager of Bunker Services at Teekay Tankers Ltd, shares about the company’s perspective of e-BDNs, bunker purchasing & planning tools, while offering his thoughts on future marine fuels.