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High Court of Singapore issues winding up order to FastFreight Pte Ltd

Winding up application was filed by Liberian-registered Bulk Trident Shipping Ltd on 19 May; several liquidators have been appointed to administer all affairs of FastFreight, according to notice.

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The High Court of Singapore on Friday (23 June) issued a winding up order to FastFreight Pte Ltd, according to a 4 July notice on the Government Gazette.

The winding up application was filed by Liberian-registered Bulk Trident Shipping Ltd on 19 May, 2023. The application was scheduled to be heard at the High Court of Singapore on 16 June.

The winding up order also included the following names and addresses of the liquidators:

Mr Jason Aleksander Kardachi
c/o Kroll Pte Limited
1 Raffles Place, Tower 2, #10-62
Singapore 048616

Mr Borrelli Cosimo
c/o Kroll Pte Limited
1 Raffles Place, Tower 2, #10-62
Singapore 048616

All creditors of the FastFreight should file their proof of debt with the liquidators who will be administering all affairs of the company. 

According to FastFreight’s website, the firm is a global player in the drybulk and tanker arena established in Singapore providing freight services to all sizes of fleet. It added it has offices in locations such as Mumbai and Dubai. 

Fastfreight lost an appeal against Bulk Trident Shipping regarding a charterparty of Anna Dorothea to carry a bulk cargo from East Coast, India to China. 

Related: Singapore: High Court to hear FastFreight winding up application on 16 June

Photo credit: Sora Shimazaki on Pexels
Published: 5 July, 2023

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LNG Bunkering

China: Ningbo Zhoushan Port completes first LNG bunkering operation for 2025

Bunkering vessel “Hai Yang Shi You 302” supplied more than 10,000 cubic metres of LNG bunker fuel to containership “MSC Adya” at the Ningbo-Zhoushan Port port on 5 January.

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China: Ningbo Zhoushan Port completes first LNG bunkering operation for 2025

Zhejiang Pilot Free Trade Zone Zhoushan Area on Wednesday (8 January) said Ningbo-Zhoushan Port successfully completed its first LNG bunkering operation for the year. 

Bunkering vessel Hai Yang Shi You 302 supplied more than 10,000 cubic metres (m3) of LNG bunker fuel to containership MSC Adya at the port on 5 January.

Zhejiang Seaport International Trading, the bunker supplier for the operation, successfully obtained the Zhoushan Anchorage LNG bunkering licence in June 2024, extending refuelling services from dock to sea. 

The company’s services cover Meishan, Chuanshan, Daxie and other port areas. 

As China's first river-sea LNG transport and bunkering ship,  Hai Yang Shi You is currently placed permanently at Ningbo Zhoushan Port, providing a variety of bunkering methods such as ship-to-ship and ship-to-shore.

Zhejiang Seaport International Trading will continue to expand the scope of bonded LNG bunkering operations and new alternative fuels such as green methanol, ammonia and biofuels in the Zhoushan Area. 

Related: China’s first river-sea LNG bunkering ship completes inaugural bunkering operation

 

Photo credit: Zhejiang Pilot Free Trade Zone Zhoushan Area
Published: 10 January, 2025

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Business

Shandong Port Group bans US-sanctioned tankers from entering its ports

Group has prohibited ports to dock, unload or provide ship services to vessels on the Office of Foreign Control list managed by the US Department, according to a Reuters news report.

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Shandong Port Group bans US-sanctioned tankers from entering its ports

China’s Shandong Port Group has reportedly blocked tankers affected by US sanctions from entering its ports, according to an exclusive news report by Reuters on Wednesday (8 January). 

Citing a notice from the port, which was issued on 6 January and shared to Reuters by traders, the Group has prohibited ports to dock, unload or provide ship services to vessels on the Office of Foreign Control list managed by the US Department. 

In another notice released on 7 January, the ban came after sanctioned tanker Eliza II unloaded at Yantai Port in early January.

Shandong Port operates major ports on the east coast of China including Qingdao, Rizhao and Yantai, which are major terminals for importing sanctioned oil. 

The traders said the ban could slow imports into China, the world’s largest oil importing nation, and increase shipping costs.

 

Photo credit: Shandong Port Group
Published: 10 January, 2025

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Business

US DoD designates COSCO Shipping and CNOOC as ‘Chinese military companies’

COSCO Shipping has responded that the company and its subsidiaries ‘have consistently adhered to local laws and regulations, maintaining strict compliance in all international operations’.

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China: Cosco Shipping and bp to explore collaboration into methanol bunker fuel

The US Department of Defense (DoD) on Tuesday (7 January) has added China’s state-owned shipping company COSCO Shipping and two of its subsidiaries to its list of companies for allegedly having links to the Chinese military. 

The subsidiaries are COSCO SHIPPING (North America) and COSCO SHIPPING Finance. 

DoD released the update to the names of "Chinese military companies" operating directly or indirectly in the United States in accordance with the statutory requirement of Section 1260H of the National Defense Authorisation Act for Fiscal Year 2021. The Department said it will update the list with additional entities as appropriate. 

Updating the Section 1260H list of "Chinese military companies" is an important continuing effort in highlighting and countering the People’s Republic of China's (PRC) Military-Civil Fusion strategy, DOD added. 

The list also included other Chinese shipping-related companies such as shipbuilders China Shipbuilding Trading and China State Shipbuilding Corporation, oil company China National Offshore Oil Corporation (CNOOC), CNOOC China and CNOOC International Trading. 

Shipping container manufacturer China International Marine Containers (CIMC) was also included on the list of companies. 

In a response to the move, COSCO Shipping said it has noted the recent inclusion of the company and its subsidiaries to the sanctions list. 

“COSCO Shipping and its subsidiaries have consistently adhered to local laws and regulations, maintaining strict compliance in all international operations,” it said on its website.

“We remain committed to facilitating global trade and providing high-quality commercial shipping and logistics services to clients worldwide, including agricultural producers, manufacturers, energy firms, retailers, and exporters in the United States.”

“We emphasise that none of the aforementioned companies are ‘Chinese military companies’. We will engage with U.S. authorities to clarify this matter. This designation does not impose sanctions or export controls, and our global operations will continue uninterrupted.”

 

Photo credit: COSCO Shipping
Published: 10 January, 2025

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