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Singapore: 11 subsidiaries of Grindrod Shipping to undergo voluntary wind up operation

Development includes IVS Bulk Carriers, IVS Bulk Owning, Unicorn Caspian, Unicorn Malacca, Unicorn Marmara, Unicorn Ionia, IVS Bulk 430 and IVS Bulk 462.

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Extraordinary general meetings to pass several resolutions for subsidiaries of Singapore-based Grindrod Shipping Pte. Ltd were held on Monday (20 June), according to notices dated Thursday (30 June) posted on the Government Gazette. 

The companies involved are: 

  1. IVS Bulk 430 Pte. Ltd. (Registration No.: 201110834D)
  2. IVS Bulk 462 Pte. Ltd. (Registration No.: 201015020H)
  3. IVS Bulk Carriers Pte. Ltd. (Registration No.: 200902094C)
  4. IVS Bulk Owning Pte. Ltd. (Registration No.: 200901631D)
  5. Unicorn Caspian Pte. Ltd. (Registration No.: 201110907M)
  6. Unicorn Ionia Pte. Ltd. (Registration No.: 201015034E)
  7. Unicorn Malacca Pte. Ltd. (Registration No.: 201114304W)
  8. Unicorn Marmara Pte. Ltd. (Registration No.: 201110917E)
  9. Unicorn Ross Pte. Ltd. (Registration No.: 201015176M)
  10. Unicorn Scotia Pte. Ltd. (Registration No.: 201110918R)
  11. Unicorn Tanker Operations (434) Pte. Ltd. (Registration No.: 201014972H)

The following were the resolutions duly passed:  

AS SPECIAL RESOLUTIONS

  1. That the Company be wound up voluntarily pursuant to Section 160(1)(b) of the Insolvency, Restructuring and Dissolution Act 2018 (Act 40 of 2018).
  2. That the Liquidators be and are hereby authorised to exercise any of the powers provided by Sections 144(1)(b), (c), (d), (e), (f) and (g) of the Insolvency, Restructuring and Dissolution Act 2018 (Act 40 of 2018).
  3. That the Liquidators be and are hereby authorised to distribute to the members of the Company in cash or in specie the surplus assets of the Company as the Liquidators may determine.

AS ORDINARY RESOLUTIONS

  1. That Mr Juay Sze Sin and Ms Shirley Lim Guat Hua, of Complete Corporate Services Pte Ltd are hereby appointed as the joint and several liquidators of the Company for the purposes of such winding up.
  2. That the remuneration of the Liquidators be based on their normal scale rates in carrying out the winding up of the Company, and that the said remuneration and disbursements reasonably and properly incurred be paid out of the assets of the Company.

According to its website, Grindrod Shipping is an international shipping company that owns, charters-in and operates a fleet of drybulk carriers and owns one medium range tanker. 

The firm trades globally under two key brands - Island View Shipping (IVS) and Unicorn Shipping.

IVS is focused on shipping dry bulk cargo such as minerals, coal, ores and agricultural products whilst Unicorn Shipping is focused on moving liquid chemicals and clean petroleum products.

 

Photo credit: Scott Graham on Unsplash
Published: 20 June, 2022

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Winding up

Singapore: Annual general meetings scheduled for Xihe Holdings subsidiaries

Development includes Da Xin Tankers, Dong Sheng Tankers, Dong Ya Tankers and Hua Zhong Shipping; meetings will be held electronically on 7 and 8 May, according to Government Gazette notices.

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RESIZED Drew Beamer

Several notices were published on the Government Gazette on Tuesday (22 April) regarding the annual general meetings of the companies and creditors to be held electronically on 22 April for Xihe Holdings subsidiaries.

The subsidiaries are Dong Sheng Tankers Pte Ltd, Da Xin Tankers Pte Ltd, Dong Ya Tankers Pte Ltd, and Hua Zhong Shipping Pte Ltd.

Annual general meeting for Dong Sheng Tankers are to be held on 8 May at the following times:

For the company: 2pm

Annual general meetings for Da Xin Tankers are to be held on 7 May at the following times:

For the company: 10am
For the creditors: 11am

Annual general meetings for Dong Ya Tankers are to be held on 8 May at the following times:

For the company: 10am
For the creditors: 11am

Annual general meetings for Hua Zhong Shipping are to be held on 7 May at the following times:

For the company: 2pm
For the creditors: 3pm

The agenda for all the meetings are:

  • To receive an update on the liquidation. 
  • To receive an account of the Liquidators’ acts and dealings, and of the conduct of the winding up

Manifold Times previously reported on the winding up of Da Xin Tankers, Dong Ya Tankers and Hua Zhong Shipping Pte Ltd and the appointment of the joint and several liquidators of the firms. 

Related: Singapore: Da Xin Tankers, Dong Ya Tankers, Hua Zhong Shipping to be wound up

 

Photo credit: Drew Beamer
Published: 23 April, 2025

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LNG Bunkering

Osaka Gas launches shore-to-ship LNG bunkering service at its terminal

Company says it is the first gas utility company in Japan to offer LNG bunker fuel at its terminal to vessels and is also exploring the potential of replacing LNG with e-methane as a marine fuel.

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Osaka Gas launches shore-to-ship LNG bunkering service at its terminal

Osaka Gas on Monday (21 April) said it has launched its shore-to-ship LNG bunkering service, becoming the first gas utility company in Japan to offer liquefied natural gas (LNG) at its terminal to vessels.

The first delivery took place today at Osaka Gas’ Senboku LNG Terminal in Takaishi City, Osaka Prefecture, where LNG was supplied to Verde Heraldo, a bulker operated by Mitsui OSK Lines (MOL). 

Manifold Times previously reported that the bulker will sail under long-term transport contracts to supply raw materials for JFE Steel Corporation's mills. 

With the launch of the shore-to-ship service, in addition to its existing truck-to-ship LNG bunkering service—operational since 2019—Osaka Gas enhances its LNG fuel delivery capabilities to address the current scarcity of facilities in Japan that can supply LNG to vessels. 

The company’s future plans include the introduction of a ship-to-ship LNG bunkering service utilising a dedicated LNG bunkering vessel, scheduled to commence in fiscal 2026.

These supply methods aim to provide a stable and flexible LNG fuel supply to an increasing number of LNG-fuelled vessels as the maritime industry transitions away from heavy fuel oil.

This growth in LNG-fuelled vessels is driven by global decarbonisation trends and the International Maritime Organization’s target to achieve net zero greenhouse gas emissions by 2050. Through its LNG bunkering services, Osaka Gas is well-positioned to contribute to maritime industry sustainability.

Osaka Gas launches shore-to-ship LNG bunkering service at its terminal

In addition to expanding LNG fuel supply to vessels, Osaka Gas is exploring the potential of replacing LNG with e-methane as a marine fuel. 

Related: New MOL vessel to be supplied LNG bunker fuel in Japan before voyage to Australia

 

Photo credit: Osaka Gas
Published: 23 April, 2025

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Alternative Fuels

Japan: J-ENG begins co-firing of first full-scale marine engine with ammonia

Company says the first Japanese-developed and manufactured commercial full-scale, low-speed, ammonia-fuelled two-stroke engine has started co-firing operation with ammonia.

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Japan: J-ENG begins co-firing of first full-scale marine engine with ammonia

Japan Engine Corporation (J-ENG) on Monday (21 April) said the first Japanese-developed and manufactured commercial full-scale, low-speed, ammonia-fuelled two-stroke engine has started co-firing operation with ammonia, which will be installed in a vessel. 

J-ENG is developing the engine under the “Green Innovation Fund Project: Next-generation Ship Development” of the New Energy and Industrial Technology Development Organization (NEDO). 

Since May 2023, when J-ENG started the world's first ammonia co-firing operation of a large, low-speed, two-stroke engine in a test engine, J-ENG has obtained many results and knowledge, including stable operation at high ammonia co-firing rates and safe handling of ammonia, through various test operations over a period of about a year and a half. 

J-ENG will conduct verification operations on the full-scale engine and plans to ship the engine in October of this year. The engine will be installed on an Ammonia-fuelled Medium Gas Carrier (AFMGC) and then demonstration operations of the vessel will be carried out then.

In order to accommodate a wide variety of ammonia-fueled vessels, J-ENG is also concurrently developing an ammonia-fueled engine with a cylinder bore of 60cm, following the first engine with a 50cm cylinder bore mentioned above, for several promising follow-on projects.

Furthermore, after achieving the development and social implementation of these engines, the company has decided to construct a new plant with the support of a subsidy project by the Ministry of the Environment and the Ministry of Land, Infrastructure, Transport and Tourism through the GX Economic Transition Bonds. 

The new plant, which is scheduled for completion in 2028, will expand the production of ammonia fuel engines (in the product mix with fuel oil engines) and promote the spread and expansion of zero-emission ships.

“J-ENG, as a first mover of next-generation fuel engines, will contribute to the development of the Japanese shipping and shipbuilding industries through the early launch and expansion of these engines, and at the same time, contribute to the reduction of greenhouse gases (GHG) in international shipping and the achievement of carbon neutrality by 2050,” the company said on its website.

 

Photo credit: Japan Engine Corporation
Published: 23 April, 2025

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