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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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Winding up

Singapore: Liquidators arrange creditors meeting for Otto Marine Limited

Meeting will be held from 3pm on 24 July at 8 Wilkie Road #03-08 Wilkie Edge Singapore 228095, according to Government Gazette notice.

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A meeting for creditors of Otto Marine Limited, which is in liquidation, has been scheduled to take place on 24 July, according to a Government Gazette notice on Thursday (11 July). 

The meeting will be held from 3pm at 8 Wilkie Road #03-08 Wilkie Edge Singapore 228095

The agenda of the meeting will be as follows:

  • To update on the liquidation administration;
  • To approve the Liquidators’ fees and disbursements;
  • To approve the declaration of preferential dividend(s) pursuant to Section
  • 328(1)(b) to 328(1)(f) of the Companies Act, Cap. 50;
  • To consider and if thought fit, to appoint a committee of inspection; and
  • Any other business.

The details of the liquidators are as follows: 

Chee Yoh Chuang
Lin Yueh Hung
Liquidators
c/o 8 Wilkie Road
#03-08 Wilkie Edge
Singapore 228095

 

Photo credit: steve pb from Pixabay
Published: 12 July, 2024

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LNG Bunkering

Titan completes first STS LNG bunkering operation in Cuxhaven

Port of Cuxhaven in Germany had previously only seen LNG operations conducted via truck and currently only permits LNG bunkering at one berth, says Titan.

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Titan completes first STS LNG bunkering operation in Cuxhaven

LNG bunker fuel supplier Titan on Thursday (11 July) said it completed the first-ever LNG bunkering operation by ship in the port of Cuxhaven.

Titan’s bunker vessel Optimus successfully delivered LNG to dredger Vox Ariane operated by its long-term client Van Oord. 

“Our ship-to-ship bunkering in Cuxhaven represents a pioneering step in the region's LNG infrastructure development, as the port had previously only seen LNG operations conducted via truck and currently only permits LNG bunkering at one berth,” it said in a social media post. 

“LNG infrastructure development is part of a broader trend, with more ports across Germany adopting LNG operations to support shipping’s clean fuels transition.”

Titan added the improved LNG bunkering capabilities in Cuxhaven, a Niedersachsen Ports GmbH & Co. KG port, also opened up the pathway to maritime decarbonisation via liquified biomethane (LBM) and then renewable e-methane going forward.

 

Photo credit: Titan
Published: 12 July, 2024

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LNG Bunkering

UECC “Auto Achieve” receives first LNG bunker fuel delivery by barge in home country

Firm said it received the first ever supply of LNG by barge to their multi-fuel LNG battery hybrid car carrier in the Port of Drammen, Norway.

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UECC “Auto Achieve” receives first LNG bunker fuel delivery by barge in home country

Norwegian roll-on/roll-off shipping line United European Car Carriers (UECC) on Wednesday (10 July) said it received the first ever supply of LNG by barge to their multi-fuel LNG battery hybrid car carrier Auto Achieve in the Port of Drammen on 4 July.

The firm said this was the first time UECC received LNG by barge to any of their vessels in their home country Norway. 

“We also believe that it was the first time LNG was delivered by barge to any vessel in Drammen, and most likely the entire Oslofjord,” UECC said in a social media post.

The LNG was supplied by the Molgas Energy Holding vessel Pioneer Knutsen, owned by Knutsen Group OAS.

“UECC is very pleased to see the expansion of the LNG barge network in Norway,” it said. 

 

Photo credit: UECC
Published: 12 July, 2024

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