Legal

IBAS faces $2.15 million lawsuit over contaminated bunkers

Meadway Shipping and Trading Singapore sues Integrity Bulk ApS over fuel lifted in July.

Published

7 years ago

August 6, 2018

Admin

Meadway Shipping and Trading Singapore (Meadway) on 27 July filed a USD $2.15 million lawsuit against Integrity Bulk ApS (IBAS) at the U.S. District Court of Maryland over alleged operational damages from contaminated bunkers, according to court documents obtained by Manifold Times.

IBAS sub-chartered the M/V ASL LUNA from Meadway and was responsible for fuelling the vessel.

The vessel’s Master on 26 June pointed out to Meadway and IBAS that fuel bunkered at Balboa, Panama caused all six fuel injector pumps of the main engine fuel to seize.

Results from a fuel testing laboratory found the fuels to contain phenol of 106 ppm, above the normal level of below 100 ppm.

“Phenols have acidic content and can damage lubrication surfaces. Phenols also reduce the stability of the fuel. Presence of phenols also indicates the possible use of shale oil as cutter stock. Shale oil reduces the ignition and combustion properties of the fuel,” says the court document.

“The fuel was also found to have styrene glycol, alpha-pinene & limonene (tall oil components) & 2,4-dittertbutylphenol in the fuel. These contaminants are not normally found in bunker fuels.”

Meadway claimed the contaminated fuel caused “significant damage” to the M/V ASL LUNA of at least $2.15 million. In detail, the company is claiming for:

At least $54,043.76 – Over Loss of hire / hire while vessel is waiting for analysis of the bunkers between 14 to 20 July ($10,237.5/day x 5.279 days)
At least $51,187.50 + $4000 fuel consumed – Over loss of hire while the vessel remains idle pending next employment
$100,000 – Over loss due to delay in finding suitable business for the vessel
$500,000 – Over claimed loss of profit from head owners
At least $25,000 – Over vessel fuel consumption between 29 June to 20 July
$163,878.00 – Over purchase of unsuitable fuel from owners
At least $300,000 – Over possible costs associated with debunkering operations
$500,000 – Over possible engine and system repair costs
At least $500,000 – Over costs of arbitration, further unassessed damages.

Published: 6 August, 2018

Winding up

Singapore: Notice of first and final dividend issued for East Marine Pte Ltd

First and final dividend to preferential creditors of East Marine is payable from 25 April through interbank transfer, reads notice in the Government Gazette.

Published

1 day ago

April 29, 2025

Admin

A notice was published in the Government Gazette on Friday (25 April), regarding the first and final dividend to preferential creditors of East Marine Pte Ltd.

The following are details of the notice of dividend of the company:

Name of Company : East Marine Pte Ltd (In Creditors’ Voluntary Liquidation)
Singapore UEN : 198601345E
Address of Registered Office : 8 Wilkie Road #03-08 Wilkie Edge, Singapore 228095
Amount per centum : 100.00 per centum of all admitted preferential claims pursuant to Section 203(1)(d), (e), (g) and (h) of the Insolvency, Restructuring and Dissolution Act 2018
First and final or otherwise : First and final
When payable : 25 April 2025 onwards
Where payable : Interbank transfer (all bank charges shall be borne by the recipient of the preferential dividend payment)

Photo credit: steve pb from Pixabay
Published: 29 April, 2025

Winding up

Singapore: Liquidator schedules final meeting for Kukuh Shipping Pte Ltd

Final meeting of members of the company will be held at 9 Raffles Place, #19-20 Republic Plaza Tower 2, Singapore 048619 on 26 May at 10 am, according to Government Gazette notice.

Published

2 days ago

April 28, 2025

Admin

The final meeting of members for Kukuh Shipping Pte Ltd, has been scheduled to take place on 26 May, according to the company’s liquidator on a notice posted on Friday (25 April) on the Government Gazette.

The meeting will be held at 9 Raffles Place, #19-20 Republic Plaza Tower 2, Singapore 048619 at 10 am.

It is being held for the purpose of receiving an account from the liquidator showing the manner in which the winding-up has been conducted and of hearing any explanation that may be given by the liquidator.

According to SGPBusiness, a business directory for companies registered in Singapore, the company's principal activity is in shipping, including chartering of ships and boats with crews.

The details of the liquidator are as follows:

Cheng Sam Tai Catherine
Liquidator
c/o Crowe Horwath First Trust Corporate Advisory Pte. Ltd.
9 Raffles Place, #19-20 Republic Plaza Tower 2, Singapore 048619

Photo credit: Jo_Johnston from Pixabay
Published: 28 April, 2025

Winding up

Final meeting scheduled for Diamond S Management (Singapore) Pte Ltd

Meeting will be held at 9.30am on 29 May by electronic means via a Zoom meeting to hear any explanation that may be given by the liquidator, according to Government Gazette notice.

Published

2 days ago

April 28, 2025

Admin

The final meeting of Diamond S Management (Singapore) Pte Ltd, has been scheduled to take place on 29 May, according to the company’s liquidators on a notice posted on Wednesday (16 October) on the Government Gazette.

The meeting will be held at 9.30am by way of electronic means via a Zoom meeting. It is being held for the purpose of the members to receive and consider the Liquidators’ Statement of Accounts, showing how the winding-up has been conducted and the property of the company has been disposed of and to receive an explanation thereof.

The liquidators of the company are Mona Low Sok Lee and Teo Chai Choo.

According to SGPBusiness, a business directory for companies registered in Singapore, and The Grid, B2B Sales Intelligence platform, the company’s principal activity is ship management services.

Note: Any member entitled to attend and vote at the meeting is entitled to appoint a proxy or corporate representative to attend and vote on his behalf. A proxy or corporate representative need not be a member. The instrument appointing a proxy or corporate representative must be deposited at the Registered Office of the Company at 4 Shenton Way, #04-01 SGX Centre 2, Singapore 068807 not less than seventy-two hours before the time set for holding of the Meeting.

Photo credit: Drew Beamer
Published: 28 April, 2025