US offshore supply and multi-purpose support vessel player Harvey Gulf International Marine has reportedly filed for Chapter 11 bankruptcy at a Houston court on Wednesday.
The company owns more than $1 billion to several creditors; it has already come to an arrangement with members of the group to reduce its debt in return for shares when the company exits bankruptcy, while others will be fully paid.
Harvey Gulf International Marine operates more than 50 vessels in its fleet.
The company is the first US vessel operator to order vessels capable of operating exclusively on liquefied natural gas (LNG).
It is also currently constructing the first LNG marine fuelling facility in the United States to be located at its vessel facility in Port Fourchon, LA.
Photo credit: Harvey Gulf International Marine
Published: 9 March, 2018
Fifteen incidents of misappropriation of Shell gasoil worth USD 10,4 million went undetected by Shell between 2016 to 2017 due to Muhammad Ali Bin Muhammad Nor’s involvement, learned Manifold Times.
ISO delegates represented seven countries and were in Singapore to attend a three-day meeting of ISO WG13 to develop two new ISO bunkering standards, learns Singapore bunkering publication Manifold Times.
Cai Zhi Zhong received a total of about USD 1.3m to USD 1.6m, of which he saved a portion and spent the rest, including on property, cars and watches, according to court documents obtained by Manifold Times.
‘MFMs will continue to have a place within the bunkering sector even when the shipping industry continues to adopt new types of marine fuels, such as LNG, biofuel, methanol, ammonia and hydrogen,’ states spokesman.
Current ISO 8217 bunker fuel standard not comprehensive enough for biofuels; National Mirror Committee working with local players to develop more comprehensive biofuels standard for Singapore, says Capt. Rahul.
‘There are some important differences between VLSFO and biofuels, and as a result, parties should consider whether additional changes should be made to biofuel bunker contracts,’ says Paul Collier.