Connect with us

Business

Hong Kong Stock Exchange to cancel listing of NewOcean shares on 31 October

‘The company failed to fulfil the resumption guidance set by the Exchange and resume trading in its shares by 30 September 2023,’ says the Exchange.

Admin

Published

on

268 1

Hong Kong Stock Exchange on Thursday (26 October) announced the listing of the shares of NewOcean Energy Holdings Limited will be cancelled with effect from 9am on 31 October.

“Trading in the company’s shares has been suspended since 1 April 2022. Under Rule 6.01A(1), the Exchange may delist the Company if trading does not resume by 30 September 2023,” it said in a regulatory announcement. 

“The company failed to fulfil the resumption guidance set by the Exchange and resume trading in its shares by 30 September 2023. On 13 October 2023, the Listing Committee decided to cancel the listing of the company’s shares on the Exchange under Rule 6.01A(1).”

The Exchange said it has requested the company to publish an announcement on the cancellation of its Listing.

“The Exchange advises shareholders of the company who have any queries about the implications of the delisting to obtain appropriate professional advice,” it added. 

Manifold Times previously reported NewOcean receiving a letter from the Stock Exchange setting out the resumption guidance for the resumption of trading in the company’s shares. 

Related: Court orders appointment of liquidators for NewOcean’s subsidiaries
Related: Hong Kong Stock Exchange issues additional trading resumption guidance to NewOcean Energy
Related: NewOcean gives quarterly update on suspension of trading
Related: Supreme Court of Bermuda orders NewOcean to appoint joint and several liquidators
Related: Hong Kong High Court orders NewOcean to appoint joint and several liquidators
Related: NewOcean joint provisional liquidators schedule first meeting of contributories|
Related: High Court of Hong Kong orders winding up of NewOcean Energy Holdings Limited
Related: NewOcean receives winding up petition from HSBC over alleged USD 71.5 million debt|
Related: NewOcean announces change of authorised representatives
Related: Court of Appeal for Bermuda orders winding up of NewOcean Energy Holdings Limited|
Related: NewOcean announces change of address of HK Branch Share Registrar and Transfer office
Related: NewOcean: Winding up petition proceedings in court adjourned to 2 September
Related: NewOcean delays release of FY 2021 results, ‘catastrophic credit freeze’ amongst reasons
Related: NewOcean: Winding up petition proceedings in court adjourned to 27 July
Related: Hong Kong Stock Exchange issues trading resumption guidance to NewOcean Energy
Related: NewOcean appoints law firm to oppose petition at 15 June hearing
Related: NewOcean warns of trading halt of company shares on HKSE from 1 April onwards
Related: NewOcean delays release of FY 2021 results, postpones AGM to Sep 2022
Related: NewOcean Energy auditor tender resignation over disagreement of FY 2021 audit fee
Related: NewOcean company secretary and authorised representative resigns on HQ relocation
Related: NewOcean Energy loses second Executive Director on HQ relocation to China
Related: NewOcean Energy HQ relocates to mainland China, Executive Director resigns
Related: NewOcean Energy officially begins ‘soft touch’ debt restructuring process
Related: NewOcean Energy reshuffles lineup of Independent Non-executive Directors
Related: NewOcean Energy defends against HSBC winding up petition, secures time for debt restructuring
Related: NewOcean: Winding up petition proceedings at Bermuda court to continue on 14 December
Related: NewOcean Energy Holdings forecasts 87% decrease net loss on year for 1H2021
Related: NewOcean posts USD 479 million FY 2020 loss; possible downsize of oil business
Related: NewOcean Energy delays release of 2020 financial results; to be published by end June
Related: NewOcean appoints Crowe as new auditors; replaces Deloitte Touche Tohmatsu
Related: NewOcean creditor scheme meeting dates at courts now ‘unrealistic’; delayed till further notice
Related: NewOcean auditors resign due to significant outstanding documents & information
Related: NewOcean revises creditor scheme meeting dates at Hong Kong, Bermuda Courts due to ‘substantial’ amendments
Related: NewOcean records USD 304.3 million loss, portion of SG bunkering business to remain
Related: NewOcean Energy issues USD 304.8 million net loss warning ahead of FY 2020 results
Related: NewOcean proposal to adjourn court scheme meeting approved by creditors
Related: NewOcean creditors meeting application granted by Supreme Court of Bermuda
Related: NewOcean planning creditors meeting, foundation of debt restructuring plan laid out
Related: NewOcean records USD 174 million 1H 2020 loss; Singapore bunkering business remains
Related: NewOcean Energy publishes profit warning to shareholders ahead of 1H 2020 results
Related: NewOcean Energy records 66% bunker sales jump to 4.5 million mt in FY 2019

Photo credit: Hong Kong Stock Exchange
Published: 30 October, 2023

Continue Reading

Wind-assisted

Singapore: EPS orders its first wind-assisted propulsion system for tanker

Firm signed a contract for its first ever wind-assisted propulsion system, partnering with bound4blue to install three 22-metre eSAILs® onboard “Pacific Sentinel”.

Admin

Published

on

By

Singapore: EPS orders its first wind-assisted propulsion system for tanker

Singapore-based Eastern Pacific Shipping (EPS) on Thursday (22 February) said it signed a contract for its first ever wind-assisted propulsion system, partnering with bound4blue to install three 22-metre eSAILs® onboard the Pacific Sentinel

The turnkey ‘suction sail’ technology, which drags air across an aerodynamic surface to generate exceptional propulsive efficiency, will be fitted later this year, helping the 183-metre, 50,000 DWT oil and chemical tanker reduce overall energy consumption by approximately 10%, depending on vessel routing.

Suitable for both newbuilds and retrofit projects, the system delivers energy efficiency and cost savings for a broad range of vessels, regardless of their size and age.

Singapore: EPS orders its first wind-assisted propulsion system for tanker

José Miguel Bermudez, CEO and co-founder at bound4blue, said: “Signing an agreement with an industry player of the scale and reputation of EPS not only highlights the growing recognition of wind-assisted propulsion as a vital solution for maximising both environmental and commercial benefits, but also underscores the confidence industry leaders have in our proven technology.”

“It’s exciting to secure our first contract in Singapore, particularly with EPS, a company known for both its business success and its environmental commitment.”

“We see the company as a role model for shipping in that respect. As such this is a milestone development, one that we hope will pave the way for future installations across EPS’ fleet, further solidifying our presence in the region.”

Cyril Ducau, Chief Executive Officer at EPS, said: “EPS is committed to exploring and implementing innovative solutions that improve energy efficiency and reduce emissions across our fleet.” 

“Over the past six years, our investments in projects including dual fuel vessels, carbon capture, biofuels, voyage optimisation technology and more have allowed us to reduce our emissions intensity by 30% and achieve an Annual Efficiency Ratio (AER) of 3.6 CO2g/dwt-mile in 2023, outperforming our emission intensity targets ahead of schedule. The addition of the bound4blue groundbreaking wind assisted propulsion will enhance our efforts on this path to decarbonise.”

“With this project, we are confident that the emission reductions gained through eSAILs® on Pacific Sentinel will help us better evaluate the GHG reduction potential of wind assisted propulsion on our fleet in the long run.”

Pacific Sentinel will achieve a ‘wind assisted’ notation from class society ABS once the eSAILs® are installed. 

 

Photo credit: Eastern Pacific Shipping
Published: 23 February, 2024

Continue Reading

Crime

Vietnam: Two ships seized over 170,000 litres of unknown origin diesel oil

Vietnam Coast Guard said vessels were transporting various quantities of oil cargo: KG-91487- DR was transporting about 145,000 litres and KG-91602-TS transported about 25,000 litres.

Admin

Published

on

By

Vietnam: Two ships seized over 170,000 litres of unknown origin diesel oil

The Vietnam Coast Guard on Tuesday (20 February) said it seized a total of about 170,000 litres of unknown origin diesel oil in an operation. 

Patrol boats belonging to Coast Guard Region 4 Command detected two fishing boats – KG-91487- DR and KG-91602-TS – displaying several suspicious signs.

Initial investigations found all vessels without invoices and documents proving legal origin of the oil material.

The vessels were transporting various quantities of oil material: KG-91487- DR was transporting about 145,000 litres and KG-91602-TS transported about 25,000 litres.

The authorities made records of administrative violations,and escorted the vessels to Fleet Port 422 in Phú Quốc city, Kiên Giang province for further investigations and handling in accordance with the law.

 

Photo credit: Vietnam Coast Guard
Published: 23 February, 2024

Continue Reading

LNG Bunkering

Galveston LNG Bunker Port joins SEA-LNG coalition

SEA-LNG said move will further enhance its LNG supply infrastructure expertise and global reach, while giving GLBP access to the latest LNG pathway research and networking opportunities.

Admin

Published

on

By

Galveston LNG Bunker Port joins SEA-LNG coalition

Galveston LNG Bunker Port (GLBP), a joint-venture between Seapath Group, one of the maritime subsidiaries of the Libra Group, and Pilot LNG, LLC (Pilot), a Houston-based clean energy solutions company, has joined SEA-LNG, according to the latter on Wednesday (21 February). 

SEA-LNG said the move will further enhance its LNG supply infrastructure expertise and global reach, while giving GLBP access to the latest LNG pathway research and networking opportunities.

GLBP was announced in September 2023 and will develop, construct and operate the US Gulf Coast’s first dedicated facility supporting the fuelling of LNG-powered vessels, expected to be operational late-2026.

The shore-based LNG liquefaction facility will be located on Shoal Point in Texas City, part of the greater Houston-Galveston port complex, one of the busiest ports in the USA. This is a strategic location for cruise ship LNG bunkering in US waters, as well as for international ship-to-ship bunkering and cool-down services. GLBP will offer cost-effective turn-key LNG supply solutions to meet growing demand for the cleaner fuel in the USA and Gulf of Mexico.

Jonathan Cook, Pilot CEO, said: “With an initial investment of approximately $180 million, our LNG bunkering facility will supply a vital global and U.S. trade corridor with cleaner marine fuel. We recognise that SEA-LNG is a leading partner and a key piece of the LNG bunkering sector, and will give us access to insights and expertise across the entire LNG supply chain.

“LNG supports environmental goals and human health by offering ship operators immediate reductions in CO2 emissions and virtually eliminating harmful local emissions of sulphur oxides (SOx), nitrogen oxides (NOx) and particulate matter.”

President of Seapath, Joshua Lubarsky, said: “We are very pleased to be supporting the decarbonization of the maritime industry through strategic, and much needed, investments into the supply of alternative fuels.  We are also happy to be a part of SEA-LNG which has done a wonderful job in advocating for advancements in technology in this vital sector.”

Chairman of SEA-LNG Peter Keller, said: “We’re proud to welcome another leading LNG supplier to the coalition and are looking forward to a mutually beneficial relationship. With every investment in supply infrastructure in the US and worldwide, the LNG pathway’s head start increases. Global availability, alongside bio-LNG and e-LNG development, makes LNG the practical and realistic route to maritime decarbonisation.

“All alternative fuels exist on a pathway from grey, fossil-based fuels to green, bio or renewable fuels. Green fuels represent a scarce resource and many have scalability issues, so we must start our net-zero journey today with grey fuels. LNG is the only grey fuel that reduces greenhouse gas emissions, well-to-wake, so you need less green fuel than alternatives to improve emissions performance.”

 

Photo credit: SEA-LNG
Published: 23 February, 2024

Continue Reading
Advertisement
  • v4Helmsman Gif Banner 01
  • Consort advertisement v2
  • SBF2
  • EMF banner 400x330 slogan
  • RE 05 Lighthouse GIF
  • Aderco advert 400x330 1

OUR INDUSTRY PARTNERS

  • 102Meth Logo GIF copy
  • Singfar advertisement final
  • Triton Bunkering advertisement v2
  • HL 2022 adv v1


  • intrasea
  • Victory Logo
  • E Marine logo
  • Golden Island logo square
  • SMS Logo v2
  • Kenoil
  • Cathay Marine Fuel Oil Trading logo
  • Trillion Energy
  • CNC Logo Rev Manifold Times
  • Energe Logo
  • Headway Manifold
  • VPS 2021 advertisement
  • Advert Shipping Manifold resized1
  • 400x330 v2 copy

Trending