Legal

Hong Kong-based Joint Vision Shipping plans windup of Times Shipping

Application for the winding up of Times Shipping scheduled to be heard at the High Court of the Republic of Singapore at 10.00 a.m. on 6 October 2023.

Published

1 year ago

September 26, 2023

Admin

Hong Kong-based Joint Vision Shipping Co., Limited (Hong Kong SAR Registration No. 3103011) is planning to windup Times Shipping Pte Ltd (Singapore UEN No. 202002249Z) at the High Court of the Republic of Singapore, according to a Monday (25 September) post on the Government Gazette.

Joint Vision Shipping first filed the application for the winding up of Times Shipping to the General Division of the High Court on 12 September 2023.

Following, the application for the winding up of Times Shipping has been scheduled to be heard in the General Division of the High Court of the Republic of Singapore at 10.00 a.m. on 6 October 2023.

Any creditor or contributory of the company desiring to support or oppose the making of an order of the winding up application may appear at the time of the hearing by himself or his counsel for that purpose; and a copy of the winding up application will be furnished to any creditor or contributory of the company requiring the copy of the winding up application by the undersigned on payment of the regulated charge for the same.

The Claimant’s address is 6/F Manulife Place, 348 Kwun Tong Road, Kowloon, Hong Kong.

The Claimant’s solicitors are Morgan Lewis Stamford LLC of 10 Collyer Quay #27-00 Ocean Financial Centre, Singapore 049315.

Photo credit: Manifold Times
Published: 26 September, 2023

Legal

Shell MGO bunker heist: Bunker clerk gets jail time for helping Sentek acquire misappropriated fuel

Wong Wai Meng was sentenced to seven years, four months and two weeks’ jail on 10 January for helping the company acquire more than 28,000 mt of the misappropriated fuel worth USD 13.58 million.

Published

13 hours ago

January 13, 2025

Admin

A bunker clerk, who was previously employed by Sentek Marine & Trading (Sentek), was sentenced to seven years, four months and two weeks’ jail for helping the company acquire more than 28,000 metric tonnes (mt) of the misappropriated fuel worth USD 13.58 million (SGD 18.26 million), The Straits Times reported on Friday (10 January).

Wong Wai Meng, was working for Singapore-based firm Sentek at the time of the offences.

Wong, who received more than USD 286,000 from the company for his assistance, pleaded guilty in November 2024 to 12 counts of intentionally helping the company acquire the misappropriated fuel.

He committed the offences over 46 occasions between August 2014 and December 2017.

Wong is among the three bunker clerks previously employed by Sentek, who were charged for offences under the Corruption, Drug Trafficking and Other Serious Crimes (Confiscation of Benefits) Act (CDSA) and the Prevention of Corruption Act (PCA).

Another bunker clerk among the three charged, Wong Kuin Wah, 61, was sentenced to seven years and six months’ jail on 18 November for his role in misappropriating more than 27,000 tonnes of gas oil worth around USD 12.8 million (SGD 17.2 million).

The third individual who was charged, Boo Pu Wen, reportedly passed away in July 2023 and had his charges abated following his death, meaning Boo’s court proceedings over his 19 charges at the time came to an end.

Former Shell employees, who were key members of a group who dishonestly misappropriated fuel from Shell Pulau Bukom, were sentenced to jail in court earlier.

Earlier coverage of developments by Manifold Times regarding the Shell MGO bunker heist can be found below:

Photo credit: Katrin Bolovtsova
Published: 13 January, 2025

Winding up

Singapore: Liquidator issue notice of intended dividend for Parakou Shipping

Creditors will need to produce proofs of debt to liquidator of Parakou Shipping by 24 January, according to Government Gazette notice.

Published

13 hours ago

January 13, 2025

Admin

A notice to declare intended dividend of Parakou Shipping Pte Ltd to its creditors has been posted on the Government Gazette on Friday (10 January).

The following are the details of the notice of intended dividend for the first dividend:

Name of Company : Parakou Shipping Pte Ltd (In Creditors’ Voluntary Liquidation)

Address of Registered Office : c/o KordaMentha, 16 Collyer Quay, #30-01, Singapore 049318

Last Day of Receiving Proofs : 24 January 2025 (if not already lodged)

Name of Liquidator : Cameron Duncan

Address : c/o KordaMentha, 16 Collyer Quay, #30-01, Singapore 049318

Photo credit: steve pb from Pixabay
Published: 13 January, 2025

Sanctions

US sanctions two major Russian oil producers in latest crackdown

US OFAC imposed sanctions against Gazprom Neft and Surgutneftegas as well as over 180 vessels that have shipped Russian oil; Gazpromneft Marine Bunker also mentioned.

Published

13 hours ago

January 13, 2025

Admin

The US Treasury Department’s Office of Foreign Assets Control (OFAC) imposed sanctions against two of Russia’s most significant oil producers and exporters, Gazprom Neft and Surgutneftegas.

The actions are underpinned by the issuance of a new determination that authorises sanctions pursuant to Executive Order (E.O.) 14024 against persons operating or having operated in the energy sector of the Russian Federation economy.

Gazprom Neft is a Russia-based, vertically integrated oil company whose core activities include the exploration, production, and sale of oil while Surgutneftegas is a Russia-based, vertically integrated oil company whose core activities include the exploration, production, and sale of oil.

Alongside Gazprom Neft and Surgutneftegas, OFAC is designating more than two dozen Gazprom Neft and Surgutneftegas subsidiaries.

All entities owned 50 percent or more, directly or indirectly, by Gazprom Neft, Surgutneftegas, or their subsidiaries listed, are also subject to blocking, even if not identified by OFAC.

OFAC also imposed sanctions on over 180 vessels that have shipped Russian oil.

“Today’s actions also impose sanctions on an unprecedented number of oil-carrying vessels, many of which are part of the “shadow fleet,” opaque traders of Russian oil, Russia-based oilfield service providers, and Russian energy officials,” it said.

“Today’s actions are underpinned by the issuance of a new determination that authorizes sanctions pursuant to Executive Order (E.O.) 14024 against persons operating or having operated in the energy sector of the Russian Federation economy. These actions substantially increase the sanctions risks associated with the Russian oil trade.”

Russia-based fleet and bunker operator Gazpromneft Marine Bunker Limited Liability Company (Gazpromneft Marine Bunker), a Gazprom Neft subsidiary, is involved in the delivery of bunker fuel for vessels.

OFAC also said Gazpromneft Marine Bunker is being designated pursuant to E.O. 14024 for operating or having operated in the energy sector of the Russian Federation economy and pursuant to E.O. 13662 for operating in the energy sector of the Russian Federation economy.

OFAC is also identifying the following vessels, all of which Gazpromneft Marine Bunker operates, pursuant to E.O. 14024 and E.O. 13662 as property in which Gazpromneft Marine Bunker has an interest: