Connect with us

Business

Former Director and shareholder of Wee Tiong (S) Pte Ltd pleads guilty to DPRK linked transactions

Between November 2016 and October 2017, Mr Tan falsified at least 20 invoices and submitted these invoices to UOB and OCBC, according to court documents obtained by bunkering publication Manifold Times.

Admin

Published

on

2E101D2A 10BF 471B 9EDB F3FC498435B2

The former Director and shareholder of Wee Tiong (S) Pte Ltd (WTPL), also the Director of sister company Morgan Marcos Pte Ltd (MMPL), pleaded guilty over several Democratic People’s Republic of Korea (DPRK) related transactions at the State Courts of Singapore on Monday (11 October).

Specifically, Tan Wee Beng faced 20 charges under section 477A of the Penal Code (Cap. 224) (PC) for falsifying invoices of two companies; he has pleaded guilty to seven proceeded charges and consented to have the remaining 13 charges taken into consideration.

Between November 2016 and October 2017, Mr Tan falsified at least 20 invoices and submitted these invoices to UOB and OCBC, according to court documents obtained by bunkering publication Manifold Times.

As at November 2016, the credit facilities granted by UOB to companies in the Wee Tiong group totalled about SGD 125 million; this included SGD 38.678 million, a USD 1 million credit line, foreign exchange facilities of SGD 5 million, as well as vessel and property term loans granted to WTPL.

MMPL maintained bank accounts with UOB, while WTPL maintained bank accounts with OCBC.

Mr Tan knew the information he was hiding was important and relevant to the banks, and could have resulted in the termination of WTPL’s lines of credit should the financial institutions find out about the its DPRK related dealings, stated court documents.

Transactions of sugar and other goods with DPRK-linked entities

From 2007 or 2008, Mr Tan started trading with Korea Heung Song Trading Co, Dandong Fuda Coal Trading Co Ltd, and Tongyuan Industrial Co Ltd which were amongst firms owned by Ri Nam Sok (Ri) from DPRK; payments for the goods relating to Ri were received into WTPL’s UOB bank account.

Further, from 2010, Mr Tan started trading with Korea Investment and Development Co and Qinglin Trading Co Ltd which were firms owned by DPRK national Jon Chol Ho; payments for the goods relating to Jon were received into MMPL’s UOB bank account.

UOB and OCBC started queries of deposits between 2016 and 2017

Mr Tan started receiving queries from UOB in November 2016, March 2017 and October 2017, and from OCBC in September 2017 concerning certain deposits of monies into WTPL and MMPL’s bank accounts.

Knowing the consequences should the banks find out of the DPRK related transactions, he sought the help of co-accused Bong Hui Ping who was working as a shipping manager at WTPL to conceal the illicit activities from UOB and OCBC.

Hui Ping assisted Mr Tan to prepare false invoices in the name of WTPL and MMPL by changing the names of the end buyers and in some cases, also the destination ports, of the false invoices to remove any references to Jon and Ri’s companies and DPRK ports.

Mr Tan signed and shared the false invoices with UOB and OCBC while lying the queried deposits were payments made for purchases of goods by companies other than Ri and Jon’s companies.

In total, Mr Tan falsified seven papers belonging to WTPL and MMPL to conceal from UOB and OCBC that WTPL had transacted with an entity linked to the DPRK.

OFAC action against Wee Tiong Group companies

Manifold Times in October 2018 reported the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) designating marine fuels company WT Marine Pte Ltd, WTPL, and Mr Tan for laundering money in support of North Korea.

According to OFAC, in 2017 the JW JEWEL (IMO: 9402964) and NYMEX STAR (IMO: 9078191), both Singapore-flagged oil tankers operated and managed by WT Marine Pte Ltd, engaged in illicit economic activity that involves or supports the Government of North Korea.

In June 2020, Mr Tan was charged in Singapore for 20 alleged counts of forgery to cover his tracks from banks after having sold sugar to parties from North Korea from his company Wee Tiong Pte Ltd and its affiliated firm, Morgan Marcos.

Related: Singapore marine fuels firm WT Marine in OFAC sanctions blacklist
Related: Singaporean MD on FBI most wanted list charged with fraud over North Korean dealings

 

Photo credit: Manifold Times
Published: 12 October, 2021

Continue Reading

Biofuel

BHP and GCMD trial multi-feedstock B100 bio bunker fuel on bulk carrier

Bio-blend in the BHP and GCMD pilot is being used on a BHP-chartered bulk carrier “Berge Lyngor”, which was bunkered in Singapore in early May.

Admin

Published

on

By

BHP and GCMD trial multi-feedstock B100 bio bunker fuel on bulk carrier

BHP and the Global Centre for Maritime Decarbonisation (GCMD) on Wednesday (3 June) said they have blended biofuels from two distinct feedstocks—used cooking oil and waste animal fats —and introduced the lower-emissions marine fuel into a BHP-chartered bulk carrier as part of a pilot project.

The bio-blend in the BHP and GCMD pilot is being used on a BHP-chartered bulk carrier Berge Lyngor, owned and operated by Berge Bulk, transporting BHP iron ore from Western Australia to China. When run on bio-blend, the vessel has the potential to reduce well-to-wake greenhouse gas emissions by approximately 79 per cent per voyage compared to sailing on very low sulphur fuel oil (VLSFO).

The vessel bunkered in Singapore in early May with a B100 bio-blend comprising 50 percent tallow-derived biodiesel, sourced and supplied by HAMR Energy, and 50 per cent used cooking oil (UCOME) supplied by Mitsui & Co Energy Trading Singapore (METS).

Mitsui also blended the fuel and Dan-Bunkering coordinated and executed the bunkering operation, which was performed by Global Energy’s barge MT Maple.

The BHP and GCMD pilot will assess how biofuels from multiple feedstocks can be blended, handled, and introduced under real-world operating conditions using existing used cooking oil bunkering infrastructure.

At the same time, insights from this pilot will help identify solutions to challenges related to fuel quality, handling, traceability, and onboard vessel performance.

Biofuels for global shipping today rely heavily on used cooking oil – a feedstock whose availability is approaching its projected limits. Biofuel from waste animal fats presents a promising option to expand the supply of lower-emissions marine fuels.

The outcomes of the pilot are expected to shed light on the practical steps to integrate biofuel blends from different feedstocks into existing supply chains. The diversity of biofuels will provide shipowners and operators with greater flexibility to optimise fuel procurement based on cost, availability, and lifecycle emissions performance.

Biofuels derived from different feedstocks can exhibit varying properties that may impact operations, including potential corrosion from oxidation, fuel system clogging caused by wax formation, which this pilot aims to assess.

The pilot will trace and verify the biofuel blend’s integrity aimed at bolstering confidence in emissions reductions reporting. The pilot will also provide insights into how robust tracing can support future marine fuel supply chains where biofuels from multiple feedstocks with varying lifecycle greenhouse gas emissions footprints are blended together.

This project is co-funded by the Maritime and Port Authority of Singapore under the Maritime Innovation and Technology Fund (MINT).

 

Photo credit: Global Centre for Maritime Decarbonisation
Published: 3 June, 2026

Continue Reading

Biofuel

NYK starts one-year B100 bio bunker fuel trial on car carrier

In this trial, NYK will operate a car carrier continuously on B100 for one year to evaluate the impact on engines, fuel supply systems, and operational practices.

Admin

Published

on

By

NYK starts one-year B100 bio bunker fuel trial on car carrier

Japanese shipping firm NYK on Tuesday (2 June) said it has commenced a one-year long-term trial involving the continuous use of 100% biofuel (B100) on an NYK-operated car carrier. 

In this trial, NYK will operate a car carrier continuously on B100 for one year to evaluate the impact on engines, fuel supply systems, and operational practices. High-purity biofuels such as B100 are known to be susceptible to degradation from oxygen, light, and heat, raising concerns about the stability of such fuels during long-term use.

In this trial, the biofuel primarily comprises FAME (Fatty Acid Methyl Ester) derived from used cooking oil and similar feedstocks.

The initiative is designed to evaluate the fuel’s effects on the vessel’s equipment and verify operational safety under real-world conditions. 

Through this effort, NYK seeks to accumulate technical expertise that will support the broader use of high-purity biofuels and further accelerate efforts to reduce greenhouse gas (GHG) emissions.

NYK has been advancing the use of biofuels through various initiatives. In 2024, the company conducted a trial using biofuel blend B24 and subsequently expanded practical usage to B30. However, the company said there remains limited global experience with the long-term continuous use of B100.

“By collecting long-term operational data through this trial, NYK aims to accumulate valuable technical insights to support both the safe operation of vessels and the wider adoption of high-purity biofuels,” it said. 

 

Photo credit: NYK
Published: 3 June, 2026

Continue Reading

Ammonia

AM Green plans to build green ammonia plant at Indian port

Initiative also includes development of green ammonia handling, storage and bunkering infrastructure, pilot bunkering operations, safety procedures and training programmes, says VOC Port Authority.

Admin

Published

on

By

india flag

VO Chidambaranar (VOC) Port Authority on Friday (29 May) said it has signed a Memorandum of Understanding (MoU) with India’s ammonia producer AM Green Ammonia to collaborate in the development of a green ammonia production plant.

The plant will have a capacity of one million tonnes per annum (MTPA) at Tuticorin.

The initiative also includes development of green ammonia handling, storage and bunkering infrastructure, pilot bunkering operations, safety procedures and training programmes. 

The project is expected to support the development of green fuel corridors connecting VOC Port with major ports in Europe and Asia, thereby strengthening India’s position in the global green fuels value chain.

VOC Port also signed a Memorandum of Understanding (MoU) with Bureau Veritas (India) Pvt. Ltd., to collaborate on Green Port certification, emissions accounting, ESG reporting, safety validation, development of green bunkering practices, and establishment of a Centre of Excellence for green fuels and sustainability.

The port also plans for an upcoming 750 m³ green methanol bunkering facility.

 

Photo credit: Naveed Ahmed on Unsplash
Published: 3 June, 2026

Continue Reading

Trending