A notice was published in the Government Gazette on Friday (16 May), regarding the second and final dividend to creditors of defunct bunkering firm Coastal Oil Singapore Pte Ltd.

The following are details of the notice of dividend of the company:

Name of Company : Coastal Oil Singapore Pte. Ltd. (In Creditors’ Voluntary Liquidation) (Co. Reg. No 200413975N)
Address of Registered Office : 1 Raffles Quay, #27-10 South Tower, Singapore 048583
Amount per centum : 0.3552 per centum of all admitted ordinary claims
First and final or otherwise : Second and Final Dividend
When payable : On or after 19 May 2025
Method of payment : Remittance or telegraphic transfer
Where payable : c/o FTI Consulting (Singapore) Pte Ltd, 1 Raffles Quay, #27-10 South Tower, Singapore 048583

In 2021, the former Chief Finance Officer of Coastal Oil Singapore received a nine-year jail sentence at the State Courts of Singapore.

Ong Ah Huat earlier pleaded guilty to 15 charges; the charges include three counts of engaging in a scheme to defraud and nine counts of forgery for conspiring with accomplices to defraud eight banks into approving USD 320 million in loans.

The banks involved were: China Merchants Bank (Singapore), Bank of Communications (Hong Kong), BNP Paribas (Hong Kong), Cooperative Rabobank (Hong Kong), DBS Bank (Hong Kong), HSBC (Hong Kong), OCBC (Hong Kong), and Standard Chartered Bank (Hong Kong).

In 2019, Manifold Times reported Hong Kong-listed COSCO SHIPPING International (Hong Kong) Co., Ltd stating its indirect wholly-owned bunkering subsidiary Sinfeng suspecting fraud to be involved in the liquidation of Coastal Oil Singapore during December 2018.

It was believed Coastal Oil Singapore owed approximately US $357 million to 79 firms. Out of the total USD 357 million, banks were the hardest hit taking up about US $354 million, or 99.1%, of total credit owed.

A complete coverage of the events leading to the current development has been arranged by Singapore bunker publication Manifold Times (in descending date order) below: 

Related: Notice of intended dividend issued for defunct bunkering firm Coastal Oil Singapore
Related: Former CFO of defunct bunkering firm Coastal Oil Singapore receives nine-year jail sentence
Related: Former Coastal Oil CFO admits to defrauding eight banks of USD 320 million in loans
Related: Singapore: Former Coastal Oil employees face forgery charges over fake sales contracts
Related: Coastal Oil hearings progress, court grants liquidators access to Sinfeng documents
Related: China Merchants Bank legal suit with Sinfeng over alleged $13 million debt progresses
Related: Fraud suspected in Coastal Oil Singapore case, says COSCO
Related: Coastal Logistics owned “Atalanta”, “Babylon” to undergo auction
Related: Singapore: Bunker tanker “Coastal Mercury” arrested
Related: Heng Tong Fuels & Shipping in court over DBS Bank bunker tanker loan
Related: Coastal Logistics owned MR tanker “Babylon” arrested
Related: Fraud suspected in Coastal Oil Singapore case, says COSCO
Related: Coastal Oil Singapore: Creditor list surfaces in bunker market
Related: Singapore: Bunker tanker “Coastal Neptune” arrested
Related: Coastal Oil Singapore creditors meeting scheduled on 10 Jan
Related: Coastal Oil Singapore in US $380 million debt to at least 10 banks
Related: Singapore: Coastal Logistics owned MR tanker “Atalanta” arrested
Related: Heng Tong Fuels & Shipping, Coastal Logistics tankers enter S&P market
Related: Coastal Oil Singapore to hold creditors meeting on 28 Dec
Related: Breaking news: Coastal Oil Singapore under liquidation

Photo credit: Manifold Times
Published: 19 May, 2025

The Selangor Malaysian Maritime Enforcement Agency (MMEA) on Sunday (18 May) said it detained a Liberia-registered container ship for anchoring without permission at 22.5 nautical miles southwest of Sekinchan at about 1.20pm on 16 May.

Selangor Maritime director Maritime Captain Maritime Abdul Muhaimin Muhammad Salleh said the Klang Area Control Centre’s Maritime Surveillance System detected the position of the suspicious vessel at about 9.20am. 

He said checks with the Central Region Maritime Department found that the container ship did not apply for permission to anchor. 

Preliminary inspection found that the ship was registered in Liberia and is operated by a 44-year-old Russian captain along with 23 crew from various nationalities aged between 32 to 50 years. All of them had complete identification documents.

Further investigation found that the captain of the ship failed to present any documents showing permission to anchor. 

Following that, Abdul Muhaimin said a detention order was issued for the vessel while the captain and a Second Engineer were brought to the Selangor Maritime Department headquarters for further investigations. 

The case is being investigated under the Merchant Ship Ordinance 1952 for docking without permission from the Malaysian Marine Department director-general. 

“If found guilty, they could be imposed a fine of not more than MYR 100,000 or a jail term of two years or both,” he said. 

Photo credit: Malaysian Maritime Enforcement Agency
Published: 19 May, 2025

Spanish shipping company Baleària on Thursday (15 May) said it broke an all-time record for the supply of liquefied natural gas (LNG) with the bunkering of three of its vessels in the port of Barcelona.

The occasion marked the first time three bunkering operations were carried out on three different ships on the same day at the same port in Spain.

The company said the three vessels were fuelled with a total of 2,320 MWh of LNG by eight tankers. 

Fast ferry Margarita Salas was fuelled by three tankers simultaneously. Ferry Martín i Soler was fuelled by two tankers and ferry Bahama Mama was bunkered by another three tankers also. 

“Our commitment to LNG grew by 184% in 2024. Combined with electric propulsion and other eco-efficiency measures, we have managed to reduce our carbon footprint by almost 10% per passenger,” it said. 

Photo credit: Baleària
Published: 19 May, 2025