London-based professional services firm Ernst & Young is scheduling a meeting on 18 July, 2018 to update creditors on the progress of liquidation of the defunct Singapore-based bunker supplier Vanguard Energy Pte Ltd
A notice on the Business Times indicated the meeting of creditors to be held at 1 Maritime Square #11-08 Harbourfront Centre, Singapore 099253 at 10.00 am on 18 July 2018.
“To entitle you to vote thereat, your proof of debt and proxies must be lodged with the Liquidators not later than 12.00pm on the 17th day of July 2018 at One Raffles Quay, North Tower Level 18, Singapore 048583,” it says.
“Copies of the proof of debt, general proxy and special proxy may be collected from the office of the Liquidators within office hours.”
Vanguard Energy was placed under compulsory liquidation on 21 November 2014.
Published: 10 July, 2018
The partnership agreement includes the installation of GTT Training’s Liquid Gas Handling Simulator ‘G-SIM’ at Wavelink’s centre and the co-sharing of expertise.
Singapore’s bunkering and oil trading sector is sufficiently diversified with more than 130 significant global, regional and local companies that trade energy products, they state.
Some ships reported build-up of red deposits on piston crowns and top edges, since the switch to VLSFO particularly on older two-stroke marine engines, it said.
‘LNG is still a fossil fuel, and we would rather go from what we do today to a CO2-neutral type of fuel, but that will be years out in the future, I suspect,’ said CEO.
Battery capacity of 1,458 kWh (equivalent to 40 electric cars) allows the vessel to sail for up to 50km with 2.5 hours of charging; saving 20.16 mt of bunker fuel annually.
Bunkers sold at the port totalled 35.15 million mt from January to September 2019, 6.2% down on year.
The Singapore court was planning to enforce a seizure and sale of the asset to pay a USD 705,594.45 debt owned by GP Global APAC to Equatorial Marine Fuel Management Services via a judgement.
‘We intend to expand our product portfolio to include VLSFO bunker deliveries at a later stage; after investments into the MGO bunkering segment have been complete,’ Director tells Manifold Times.
Fast Energy Sdn Bhd is currently exploring collaboration with a major Malaysian bunker supply firm operating at Port Klang; the operation will be supported by CCK Petroleum upon finalisation.
Veritas Petroleum Services records numerous contaminants such as plastic, fibres, black gum, paraffins, fatty acids, and other component found in the off-spec RMK 700 marine fuel.
Course includes topics on valid and binding transactions; quality or quantity disputes; shipping issues; contract termination; claims; insolvency and others. Registration closes 25 February 2021.
All bunker vessels that have received the necessary clearance for out of port bunkering operations may do so at the stated Tompok Utara coordinates only or risk penalty, according to the MMEA.
