Legal

Greece turns up heat on Russian oil STS transfers with advisory extension

Greece’s Navy reportedly extended an advisory to prevent ship-to-ship transfers of Russian oil off the southeastern Peloponnese, miles off its coastline, according to major news outlets.

Published

2 years ago

May 9, 2024

Admin

Greece’s Navy on Wednesday (8 May) reportedly extended an advisory to prevent ship-to-ship (STS) transfers of Russian oil off the southeastern Peloponnese, miles off its coastline, according to major news outlets.

The navy will be conducting exercises until 19 May in the Laconian Gulf, an area known to be a meeting point to transfer Russian oil onto other vessels.

It was said to expire on 9 May but was instead extended.

International sanctions have made trading Russian crude and oil products difficult following Russia’s invasion of Ukraine in 2022. Following that, there have been concerns raised regarding the increased STS transfers at sea, in particular instances of ships using “dark operations” to hide their whereabouts.

Manifold Times previously reported the International Bunker Industry Association (IBIA) stating concerns raised regarding the ‘dark fleet’ or ‘shadow fleet’ at IMO meetings including MEPC 80.

The subject was discussed at the IMO’s Legal Committee (LEG 110) in March, and again at the 80th session of the Marine Environment Protection Committee (MEPC 80) in July.

Multiple concerns have been raised at IMO meetings regarding an increase in ship-to-ship (STS) transfers at sea, in particular instances of ships using “dark operations” to hide their whereabouts. The subject was discussed at the IMO’s Legal Committee (LEG 110) in March, and again at the 80th session of the Marine Environment Protection Committee (MEPC 80) in July.

The risks highlighted include that such practices may be used to circumvent sanctions and high insurance costs. From an environmental perspective, if there is a spill, there will be no pollution prevention and the responsible parties may evade liability under relevant liability and compensation regimes.

In 2023, IMO also released a statement that LEG 110 was informed that a fleet of between 300 and 600 tankers, primarily comprised of older ships with poor maintenance, unclear ownership and a severe lack of insurance, was currently operated as a ‘dark fleet’ or ‘shadow fleet’ to circumvent sanctions and high insurance costs.

Photo credit: Peter Boccia on Unsplash
Published: 9 May 2024

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

16 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

16 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