The Babylon, a 24,205.3 dwt medium range (MR) tanker owned by Coastal Logistics Pte Ltd was arrested in Singapore on Tuesday (1 January), according to information from the Sheriff's Department at Supreme Court of Singapore.
The arrested was made 1.50pm (Singapore time) at Western Petroleum Anchorage B in Singapore port through solicitor Rajah & Tann Singapore LLP.
To date, a total of three vessels affiliated with Coastal Oil (Singapore) Pte Ltd have been arrested; besides the above, the remaining two are Atalanta and Coastal Neptune.
Manifold Times on Wednesday (2 January) first reported the Atalanta and other vessels, including bunker tankers, entering the sale & purchase (S&P) market; these vessels are either owned by Coastal Logistics or Heng Tong Fuels & Shipping.
Both companies are affiliated with troubled Singapore bunker player Coastal Oil (Singapore) Pte Ltd, Simon Millar, Managing Analyst, Platts Ocean Intelligence told Manifold Times.
Coastal Oil (Singapore) on 13 December filed for liquidation as part of a creditors’ voluntary winding up operation.
It last held a creditor’s meeting on December 28, 2018; the next meeting is scheduled for Thursday (10 January).
A creditor list of Coastal Oil Singapore surfaced in the Singapore market in early January.
Lately, Hong Kong-listed COSCO SHIPPING International (Hong Kong) Co., Ltd, said its indirect wholly-owned bunkering subsidiary Sinfeng Marine Services Pte. Ltd. suspects fraud to be involved in the recent liquidation of Coastal Oil Singapore Pte Ltd.
Related: Singapore: Coastal Logistics owned MR tanker "Atalanta" arrested
Related: Singapore: Bunker tanker “Coastal Neptune” 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
Related: Fraud suspected in Coastal Oil Singapore case, says COSCO
Related: Coastal Oil Singapore: Creditor list surfaces in bunker market
Photo credit: MarineTraffic / Vladimir Knyaz
Published: 4 January, 2019
Vessel ‘BT 99998 TS’ was arrested in the sea area about 115 nautical miles southeast of Con Dao over illegal diesel oil cargo.
To protect against legal challenges from other parties while Brightoil undergoes restructuring.
Will continue to seek legal advice in relation to legal developments at Singapore and Hong Kong, it says
The crew failed to furnish relevant tax and customs documents.
Creditor’s meeting will be held via electronic means on Thursday, 10 December at 10:30 am, and all creditors must have submitted proof to be entitled to a vote.
Email showed a legal adviser within the group warning about the deal in question following an inquiry from the Danish Business Authority.
Firm hopes to leverage partnership in Greece as a springboard to expand into neighbouring and overseas markets including Europe and China, says Robin Van Elderen, Regional Head Bunkers, Europe, Sing Fuels.
Singapore can help less developed countries in SouthEast Asia through ‘piloting and scaling fuels and technology as well as a leading hub for green finance’, said DNV Group President and CEO Remi Eriksen.
Octamar™ Ultra HF, Octamar™ Complete, and Octamar™ F35C were found to have improved the fuel economy while reducing exhaust gas and other emissions of marine engines in a series of trials, states report.
Disposal of evidence has resulted in Singapore not being able to provide full details to the United Nationals Panel of Experts which sought information regarding the case, says Ministry of Foreign Affairs.
‘We are proud to be amongst the first to show the successful steps taken by Singapore’s bunkering ecosystem to remain forward thinking and relevant,’ Choong Sheen Mao, Director of EMF, tells Manifold Times.
‘With the launch of a common data infrastructure, Kenoil aims to continue achieving an end to end visibility and transparency on the bunker data supply chain,’ states Kenoil Managing Director.
