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NewOcean joint provisional liquidators schedule first meeting of contributories

Meeting will be held at Level 35, Oxford House, Taikoo Place, 979 King’s Road, Quarry Bay, Hong Kong on Wednesday, 12 October 2022 at 3:00 p.m. (Hong Kong time).

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The first meeting of contributories of Hong Kong-listed NewOcean Energy Holdings Limited, which is currently undergoing liquidation, has been organised by its joint provisional liquidators, according to a recent filing.

The meeting will be held at Level 35, Oxford House, Taikoo Place, 979 King’s Road, Quarry Bay, Hong Kong on Wednesday, 12 October 2022 at 3:00 p.m. (Hong Kong time).

The purpose of the meeting will be as follows:

  1. An application be made to the Supreme Court of Bermuda (the Bermudian Court) to appoint the Joint Provisional Liquidators, namely Mr Roderick John SUTTON and Mr Kenneth FUNG, both of FTI Consulting (Hong Kong) Limited, and Mr Edward Alexander Niles Whittaker of R&H Services Limited, or any alternative nominees, as the Joint Liquidators.
  2. An application be made to the Bermudian Court for the appointment of a committee of inspection to act with the liquidator(s) of the Company in the winding-up of the business of the Company.
  3. The committee of inspection be composed of no less than two and no more than five persons and in the event that more than five persons are being nominated to the committee of inspection, the five persons receiving the greatest proportion in value voting in favour of their nomination shall be appointed to the committee of inspection.

NewOcean’s business segments include the sales and distribution of LPG, sales of electronic products, and its oil products business. The company was also involved in bunkering operations at Hong Kong and Singapore ports.

Related: High Court of Hong Kong orders winding up of NewOcean Energy Holdings Limited
RelatedNewOcean receives winding up petition from HSBC over alleged USD 71.5 million debt
RelatedNewOcean announces change of authorised representatives
RelatedCourt of Appeal for Bermuda orders winding up of NewOcean Energy Holdings Limited
RelatedNewOcean announces change of address of HK Branch Share Registrar and Transfer office
RelatedNewOcean: Winding up petition proceedings in court adjourned to 2 September
RelatedNewOcean delays release of FY 2021 results, ‘catastrophic credit freeze’ amongst reasons
RelatedNewOcean: Winding up petition proceedings in court adjourned to 27 July
RelatedHong Kong Stock Exchange issues trading resumption guidance to NewOcean Energy
RelatedNewOcean appoints law firm to oppose petition at 15 June hearing
RelatedNewOcean warns of trading halt of company shares on HKSE from 1 April onwards
RelatedNewOcean delays release of FY 2021 results, postpones AGM to Sep 2022
RelatedNewOcean Energy auditor tender resignation over disagreement of FY 2021 audit fee
RelatedNewOcean company secretary and authorised representative resigns on HQ relocation
RelatedNewOcean Energy loses second Executive Director on HQ relocation to China
RelatedNewOcean Energy HQ relocates to mainland China, Executive Director resigns
RelatedNewOcean Energy officially begins ‘soft touch’ debt restructuring process
RelatedNewOcean Energy reshuffles lineup of Independent Non-executive Directors
RelatedNewOcean Energy defends against HSBC winding up petition, secures time for debt restructuring
RelatedNewOcean: 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
RelatedNewOcean Energy delays release of 2020 financial results; to be published by end June
RelatedNewOcean appoints Crowe as new auditors; replaces Deloitte Touche Tohmatsu
RelatedNewOcean creditor scheme meeting dates at courts now ‘unrealistic’; delayed till further notice
RelatedNewOcean 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: NewOcean Energy Holdings Limited
Published: 4 October, 2022

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Milestone

Singapore retains titles as Best Global Seaport and Best Seaport in Asia

Port of Singapore has been named the “Best Global Seaport” for the third consecutive year and the “Best Seaport in Asia” for the 35th time at the 2023 AFLAS Awards.

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Singapore retains titles as Best Global Seaport and Best Seaport in Asia

The Maritime and Port Authority of Singapore on Friday (29 September) said the Port of Singapore has been named the “Best Global Seaport” for the third consecutive year and the “Best Seaport in Asia” for the 35th time at the 2023 Asian Freight, Logistics and Supply Chain (AFLAS) Awards.

These accolades recognise the contributions by the Port of Singapore serving as a key node in the global supply chain, and Singapore’s leadership in driving maritime decarbonisation and transformation.

The annual AFLAS Awards is organised by freight and logistics publication, Asia Cargo News, to honour leading service providers in the supply chain community for demonstrating leadership as well as consistency in service quality, innovation, customer relationship management and reliability. Winners were determined by votes cast by readers of the publication.

singapore best seaport 2

Mr Chee Hong Tat, Acting Minister for Transport and Senior Minister of State for Finance, said: “Singapore is honoured to be named the Best Global Seaport and Best Seaport in Asia. These awards are the result of the shared effort and strong collaboration between the Government, industry, unions and workers. We will continue to grow our port as an efficient, sustainable, and trusted node in global supply chains.”

Mr Teo Eng Dih, Chief Executive of MPA, said: “These awards are testament to the partnership and collaboration between Maritime and Port Authority of Singapore (MPA) with industry and international partners, the research and enterprise community, as well as unions. MPA remains committed to fostering an environment that encourages enterprise, innovation, and talent development.”

“We will continue to work with our partners to enhance Singapore’s connectivity, advance digitalisation efforts, and accelerate the decarbonisation of international shipping in line with the 2023 IMO strategy on reduction of GHG emissions from ships.”

Photo credit: Maritime and Port Authority of Singapore 
Published: 29 September, 2023

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Employment

Melvin Lum appointed as KPI OceanConnect Global Accounts Commercial Director in Singapore 

Lum will take on the position of Commercial Director from Thomas Lee who was recently promoted to Head of APAC in a management restructure within KPI OceanConnect.

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Melvin Lum appointed as KPI OceanConnect Global Account Commercial Director in Singapore

Global marine energy solutions provider KPI OceanConnect on Thursday (28 September) announced the appointment of Melvin Lum as Commercial Director for its Global Accounts team in Singapore.

Lum will take on the position of Commercial Director from Thomas Lee who was recently promoted to Head of APAC in a management restructure within KPI OceanConnect. 

The Global Accounts team is an expert unit within KPI OceanConnect, specialised in providing long-term, tailored fuel strategy solutions to a portfolio of Key Accounts on a global scale. Dedicated regional teams located in London, Houston and Singapore work seamlessly across the world and around the clock to support their clients.

Lum joined KPI OceanConnect in 2021 as Senior Key Account manager and has made a significant contribution to the development of the team and optimisation of the daily operations of the unit in Singapore. Lum has vast experience across the supply chain and previously worked with TotalEnergies, Glencore and Global Energy Group prior to joining KPI OceanConnect.

Henrik Zederkof, Head of Global Accounts at KPI OceanConnect, said: "It is always a pleasure to witness the growth of our team members, and Melvin's progression is no exception. I have full confidence in Melvin's expertise, ability to lead the unit and dedication to his team. I look forward to seeing the progress of Melvin and his team, which will undoubtedly bring significant value to our numerous partners and the wider organisation.”

"Melvin will assume a pivotal role within the Global Accounts management team, leveraging his extensive experience in supply chain management and profound insight into emerging technologies. In his new role, Melvin will further enhance our team's skill set, aligning them with our ongoing objectives of supporting our partners in their green transition and digitalisation endeavours."

Melvin Lum, Commercial Director of KPI OceanConnect Global Accounts in Singapore, said: "I am very appreciative of the support and confidence from our management team as I take on this exciting new role. I am enthusiastic to work with the team as we continue to deliver an exceptional experience to our partners and stakeholders with dedication, innovation and passion."

Photo credit: KPI OceanConnect 
Published: 29 September, 2023

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Biofuel

TotalEnergies Marine Fuels renews ISCC EU certification for bio bunker fuel  

Firm’s operations teams in Singapore and Geneva successfully renewed its ISCC EU sustainability certification for the supply of biofuel bunkers, says Louise Tricoire, Vice President.

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TotalEnergies Marine Fuels renews ISCC EU certification for bio bunker fuel

Louise Tricoire, Vice President of TotalEnergies Marine Fuels recently said the firm’s operations teams in Singapore and Geneva successfully renewed its International Sustainability and Carbon Certification (ISCC) EU sustainability certification for the supply of biofuel bunkers.

“This means that TotalEnergies Marine Fuels can continue sourcing and supplying marine biofuels in accordance with EU renewable energy regulations ensuring the highest sustainability standards,” she said in a social media. 

“It's the third year in a row that we have successfully renewed this certification, after a deep and comprehensive audit which showed zero non-conformity.”

She added marine biofuels have grown in demand among shipping companies that want to cut greenhouse gas emissions immediately. 

“TotalEnergies Marine Fuels offers marine biofuels commercially in Singapore and we are starting in Europe. This certification enables us to accompany our customers in their decarbonisation journey with the best standard solutions available today.”

Photo credit: TotalEnergies Marine Fuels
Published: 29 September, 2023

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