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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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Newbuilding

Singapore: EPS orders ammonia, LNG dual-fuel vessels from China

EPS signed one contract for a series of ammonia dual-fuel bulk carriers with CSSC Beihai Shipbuilding and another for a series of LNG dual-fuel oil tankers with CSSC Guangzhou Shipbuilding International.

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Singapore-based Eastern Pacific Shipping (EPS) on Wednesday (28 February) said it signed two new contract orders in a signing ceremony in Shanghai, one for a series of ammonia dual-fuel bulk carriers with CSSC Beihai Shipbuilding and another for a series of LNG dual-fuel oil tankers with CSSC Guangzhou Shipbuilding International. 

The contracts signed cover four 210,000 dwt ammonia dual-fuel bulk carriers and two 111,000 dwt LNG dual-fuel LR2 oil tankers, expanding our fleet of green vessels on water. 

“These are pivotal for EPS, testament to our continued commitment towards the decarbonisation of shipping,” EPS said in a social media post.

Manifold Times recently reported EPS signing a contract for its first ever wind-assisted propulsion system, partnering with bound4blue to install three 22-metre eSAILs® onboard the Pacific Sentinel

The turnkey ‘suction sail’ technology, which drags air across an aerodynamic surface to generate exceptional propulsive efficiency, will be fitted later this year, helping the 183-metre, 50,000 DWT oil and chemical tanker reduce overall energy consumption by approximately 10%, depending on vessel routing.

Related: Singapore: EPS orders its first wind-assisted propulsion system for tanker

 

Photo credit: Eastern Pacific Shipping
Published: 1 March 2024

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LNG Bunkering

Malaysia: Port of Tanjung Pelepas completes first LNG bunkering operation

Landmark event involved the CMA CGM Monaco, a 14,024 TEUs containership operated by French shipping giant CMA CGM.

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Port of Tanjung Pelepas Sdn Bhd (PTP), a joint venture between MMC Group and APM Terminals, on Wednesday (28 February) announced a significant milestone with the successful completion of its first Liquefied Natural Gas (LNG) bunkering operation. 

The landmark event involved the CMA CGM Monaco, a 14,024 TEUs (Twenty-foot Equivalent Units) capacity containership operated by French shipping giant, CMA CGM.

Tan Sri Che Khalib Mohamad Noh, Chairman of PTP in a statement remarked this latest milestone demonstrates PTP’s commitment to continuously enhance its competitive advantages in an increasingly competitive global market.

“The successful completion of our first LNG bunkering operation also underscores our unwavering commitment to sustainability and environmental leadership. We are proud to partner with Petronas Trading Corporation Sendirian Berhad (PETCO) and CMA CGM on this initiative and showcase PTP’s capabilities as a leading facilitator of clean and efficient maritime operations.”

“This milestone paves the way for further growth in LNG bunkering at PTP, contributing significantly to the decarbonisation of the maritime industry.”

Commenting on this achievement, Mark Hardiman, Chief Executive Officer of PTP stated this latest milestone further highlights PTP’s position as the largest transshipment hub terminal in Malaysia.

“In preparation for the LNG bunkering operation, PTP worked closely since March 2022 with PETCO and CMA CGM, as well as with various other related government agencies to organise table-top exercises (TTX) and workshops, before carrying out the deployment exercise.”

“The success of the bunkering operation is a result of the seamless collaboration and preparations involving rigorous safety procedures through in-depth operational and risk assessments, modelling, and validation. We thank PETCO, CMA CGM all other involved parties for their joint efforts in operationalising the bunkering capability and we welcome partners to work with us to accelerate maritime decarbonisation,” said Hardiman.

Port of Tanjung Pelepas (PTP) is Malaysia’s largest transshipment hub with the capacity to handle 13 million TEUs annually. The port delivers reliable, efficient, and advanced services to major shipping lines and box operators, providing shippers in Malaysia and abroad with extensive connectivity to the global market. PTP is currently ranked 15th among the world top container ports.

 

Photo credit: Port of Tanjung Pelepas
Published: 1 March 2024

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Alternative Fuels

Wallenius Wilhelmsen to order four additional methanol DF PCTCs

Newbuilds will also be ammonia-ready and able to be converted as soon as ammonia becomes available in a safe and secure way.

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Wallenius Wilhelmsen PCTC order

Roll-on/roll-off (Ro-Ro) shipping company Wallenius Wilhelmsen on Tuesday (27 February) declared options to build four additional next-generation Shaper Class pure car and truck carrier (PCTC) vessels.

The 9,300 CEU methanol dual fuel vessels can utilise alternative fuel sources, such as methanol, upon delivery. They will also be ammonia-ready and able to be converted as soon as ammonia becomes available in a safe and secure way.

“Together with our customers we are committed to further shaping our industry and accelerating towards net zero. These new vessels are a vital part of that journey,” says Xavier Leroi, EVP & COO Shipping Services.

This latest commitment brings the total number of Shaper Class vessels currently on order with Jinling Shipyard (Jiangsu) to eight. Wallenius Wilhelmsen also retains further options.

The first of the Shaper Class vessels already ordered are expected to be delivered in the second half of 2026. The four additional vessels under the declared options will be delivered between May and November 2027.

 

Photo credit: Wallenius Wilhelmsen
Published: 1 March 2024

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