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Hong Kong: ‘No breach of procedural fairness’ in HKSE decision to delist Brightoil shares, says Judge

Listing of Brightoil’s shares on the Stock Exchange was cancelled on 16 March 2020, according to a written Judgement of Russell Coleman, a Judge of the Court of First Instance.

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A High Court of the Hong Kong Special Administrative Region Judge on 14 July rejected a claim from Hong Kong-listed oil company Brightoil Petroleum (Holdings) Limited (Brightoil) of unfairness in a delisting decision made by The Stock Exchange of Hong Kong Limited (HKSE) on 28 February 2020.

The listing of Brightoil’s shares on the Stock Exchange was cancelled on 16 March 2020, according to the Judgement of Russell Coleman, a Judge of the Court of First Instance, written on 23 July.

The document noted Brightoil claiming the listing committee of HKSE “misdirected itself in law” by turning down the company’s request for an oral hearing, while the cancellation of a request for extension of time did not afforded the company “opportunity to make worthwhile representation”.

“In my view, both proposed grounds of review have no merit,” stated the Judge, who added he found “no breach of procedural fairness in the context of the delisting procedure as a whole”.

“It is the Exchange which is tasked with making relevant decisions such as the Cancellation Decision.  Of course, if the Listing Review Committee were to make a decision in breach of administrative law requirements for fairness and procedural propriety, such decision might be amenable to judicial review.  Whilst the Court is not tasked with the merits of decisions such as the Cancellation Decision, it remains open to act in a supervisory role to ensure the integrity of the decision-making process,” stated Judge Coleman.

“But, I firmly reject the Applicant’s suggestion that there is a systemic procedural unfairness in the way in which the Exchange handles delisting decisions.

“It was for the above reasons that: (1) I dismissed the Applicant’s application for leave to discontinue its application for leave to apply for judicial review; and (2) I dismissed the Applicant’s application for leave to apply for judicial review.”

Brightoil was listed on the Main Board of the Exchange in 1995. Trading of its shares on HKSE was suspended since 3 October 2017 due to its auditor’s concerns in relation to certain back-to-back trading of oil between an indirect wholly-owned Singapore bunkering subsidiary Brightoil Petroleum (S’pore) Pte. Ltd. with 12 customers.

The HKSE Listing Division issued a report to its Listing Committee on 24 February 2020 recommending the cancellation of Brightoil’s listing.

In reaching that recommendation, the Listing Division took into account the fact that 31 January 2020 was the deadline for the resumption of trading, as opposed to submission of a resumption proposal.

As a result, the listing of the Brightoil’s shares on the Stock Exchange was cancelled on 16 March 2020.

Earlier developments of Brightoil (since late 2017 to date) can be found in the search results here

 

Photo credit: Wpcpey [CC BY-SA 4.0 (https://creativecommons.org/licenses/by-sa/4.0)]
Published: 27 July, 2020

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China: Yangpu records 27% on year increase in bunkering volumes from Jan to May

Latest bunker supplier at Yangpu port is Hainan Luhai Energy which received a license from the Danzhou Municipal People’s Government in April 2025.

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The Port of Yangpu located in Hainan Island recorded a 27% on year increase in bonded bunkering volume for the period between January to May 2025 due to local government initiatives, according to Danzhou Municipal People’s Government on 5 July.

During the five-month period, the port supplied 149,400 metric tonnes (mt) of bunker fuel to 288 international vessels, compared to 117,400 mt of marine fuel to 278 ships in the year before.

Explaining the 2025 figures, the government pointed out 145,400 mt of bonded bunker fuel to 275 vessels were delivered by bunkering firms under national licenses, while 4,000 mt of bonded marine fuel were sent by bunkering companies under Hainan licenses.

To date, there are four bunker suppliers operating at Yangpu port. The latest to join is Luhai Energy Technology Development (Hainan) Co., Ltd (陆海能源科技发展(海南)有限公司) which received a license from the Danzhou Municipal People’s Government in April 2025.

“In the future, we will continue to work hard to continuously optimise the bonded oil refuelling service system, increase policy publicity and promotion efforts, attract more bonded oil refuelling companies to settle in Yangpu, and continuously expand the scale of business, and promote the implementation of the bonded oil refuelling policy,” stated Li Leiming, a mid-level employee of the Yangpu Investment Promotion Bureau.

 

Photo credit: Chuanhaozi under Creative Commons Licences
Published: 14 July 2025

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Singapore retains ranking as world’s top maritime centre for 12th consecutive year

Finds report jointly published by the Baltic Exchange and China’s Xinhua News Agency.

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Singapore bunker tankers and sky

Singapore on Friday (11 July) said it has retained its ranking as the world’s top maritime centre, marking the 12th consecutive year it has led the Xinhua-Baltic International Shipping Centre Development (ISCD) Index.

Jointly published by the Baltic Exchange and China’s Xinhua News Agency, the Xinhua-Baltic ISCD Index provides an independent benchmarking of the world’s leading maritime hubs.

It evaluates factors such as cargo throughput, port infrastructure, maritime services (including finance, law and shipbroking), and the overall business environment.

The index is closely monitored by shipping lines, port investors, and maritime service providers to track market competitiveness, and inform investment location and service development decisions.

Singapore retained its top position among 43 maritime cities and regions, underpinned by its consistent performance as one of the world’s busiest transhipment and bunkering hubs, and a well-established ecosystem of professional maritime services and expertise.

In 2024, Singapore handled 41.12 million twenty-foot equivalent units (TEUs) in container throughput – a record high – and saw total vessel arrival tonnage exceed 3 billion gross tons. The Port of Singapore also remains the world’s largest bunkering port, having supplied 54.92 million tonnes of marine fuel in 2024.

Home to more than 200 international shipping groups and a growing number of maritime technology start-ups, Singapore continues to strengthen its position as a global node for maritime innovation and enterprise.

This growing industry base is also creating new career pathways in areas such as port operations, digital systems management, automation, maritime law, and sustainability – as the sector transforms to meet the needs of a more digital and decarbonised future.

“We thank our industry partners, the research and enterprise community, and our unions who have been instrumental in Singapore’s journey to become a leading international maritime centre and global hub port,” said Ang Wee Keong, Chief Executive of the Maritime and Port Authority of Singapore.

“We will continue to build on this momentum by innovating and investing in digitalisation, green technologies, and workforce development to strengthen Singapore’s position as a trusted and future-ready international maritime centre.”

 

Photo credit: Manifold Times
Published: 14 July 2025

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“LNG London” marks 1,000 safe LNG bunkering ops in Rotterdam and Antwerp

Milestone is a tribute to the technical expertise and steadfast dedication of LNG London’s team, states Victrol.

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The LNG London, a liquefied natural gas (LNG) bunkering vessel chartered by Shell, owned by LNG Shipping, and operated by Victrol recently completed over 1,000 safe LNG bunkering operations across the ports of Rotterdam and Antwerp.

“This landmark achievement underscores LNG London’s unwavering commitment to safety, reliability, and environmental stewardship as LNG rises to prominence as a lower-emission marine fuel compared to conventional fuel oil,” stated Victrol on Friday (11 July) over a LinkedIn update.

“With this milestone, LNG London reaffirms its pioneering role in promoting sustainable, lower-emission bunkering throughout the Amsterdam–Rotterdam–Antwerp (ARA) hub.”

Launched in June 2019, LNG London has a capacity of 3,000 m³, spans 110 m in length, and navigates inland waterways with ease—facilitating efficient LNG supply to both seagoing vessels and barges offshore-energy.

Victrol as the vessel’s operator, emphasises the outstanding performance of the crew and the vessel’s robust design. Built with stringent safety specifications, LNG London strives to maintain high operational standards. This milestone is a tribute to the team’s technical expertise and steadfast dedication.

Building on the good work of LNG London, Shell had also enhanced its bunkering network with the larger Energy Stockholm, an 8,000 m³ bunker vessel, now operating in Antwerp, Rotterdam, Zeebrugge, and Amsterdam.

Related: Europe: ‘LNG London’ bunkering vessel starts operations at Rotterdam
Related: “LNG London” conducts first ship-to-ship LNG bunkering operation at Rotterdam
Related: Bureau Veritas classifies Europe’s largest inland waterway LNG bunker barge
Related: Europe’s largest LNG bunkering barge on maiden voyage to ARA
Related: Shell takes delivery of Europe’s largest inland LNG bunkering vessel

 

Photo credit: Victrol
Published: 14 July 2025

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