Connect with us

Business

Singapore: ‘Golden Nori’ sold for SGD 2.5 million, creditors to submit claims

Any person having a claim against the ship or the proceeds of the sale should accordingly do so before 90-day expiration, advises Assistant Sheriff.

Admin

Published

on

Golden Nori MT

The 116,77 dwt chemical tanker Golden Nori has been sold by the High Court of the Republic of Singapore on 7 May for the amount of SGD 2.5 million (exact: SGD 2,535,300), it said in an 18 May notice published on the Government Gazette.

The vessel sale was the result of admiralty action from the following firms:

  1. KODCO MARINE SERVICE (Korea, South Registration No. 605-86-32145)
    2. DREAM OCEAN Co., LTD (Korea, South Registration No. 602-81-29442)
    3. NAM DO (Korea, South Registration No. 601-02-52455)
    4. NEW SHIN YOUNG CO.,LTD. (Korea, South Registration No. 602-81-22231)
    5. SEANCO PTE LTD (Singapore UEN No. 200819861R)
    6. MARINETRANS KOREA CO.,LTD (Korea, South Registration No. 466-87-00351)
    7. HAN SUNG ENG (Korea, South Registration No. 562-08-00241)
    8. BAWOO (Korea, South Registration No. 603-10-41959)
    9. ATOZ SUPPLY SERVICE (Korea, South Registration No. 116-81-63070)
    10. UNION SHIPPING (Korea, South Registration No. 610-81-36885)
    11. DA-ON SHIPPING (Korea, South Registration No. 442-88-00288)
    12. SEWON TRADE (Korea, South Registration No. 671-27-35677)
    13. SEONG WON GREEN CO., LTD. (Korea, South Registration No. 603-81-64059)
    14. L. K. CONTROL (Korea, South Registration No. 360-33-00536)
    15. UNIOS (Korea, South Registration No. 605-86-15919)
    16. DAELIN MARINE CO., LTD. (Korea, South Registration No. 653-81-00593)
    17. KOTO TECHNICAL CO., LTD. (Korea, South Registration No. 603-81-82886)
    18. YOUGJIN TURBO CO., LTD. (Korea, South Registration No. 603-81-85511)
    19. MAE-IL MARINE SERVICE CO., LTD. (Korea, South Registration No. 601-81-26888)
    20. YH MARINE CO., LTD. (China Registration No. 1333817)

“The proceeds of the said sale amounting to SGD 2,535,300.00 have been paid into Court on the 7th day of May 2021,” stated the Assistant Sheriff of the Supreme Court, Singapore, in the notice.

“All questions affecting priorities or the validity of the claim of any party to the proceeds of sale of the Vessel except as herein provided and affecting the amount of any such claim shall not be determined until after the expiration of 90 days beginning with the day on which the proceeds of sale are paid into Court.

“Any person having a claim against the ship or the proceeds of the sale thereof on which they intend to proceed to judgment should accordingly do so before the expiration of that period.”

 

Photo credit: MarineTraffic / Kenro Oshita
Published: 19 May, 2021

Continue Reading

Bunker Fuel

TMD Energy becomes first Malaysian bunker supplier to list on NYSE American

Straits Energy Resources’ subsidiary announces that its shares have been listed on 21 April, becoming the first Malaysian marine bunker supplier to achieve a listing on a major US exchange.

Admin

Published

on

By

TMD Energy logo

TMD Energy Limited (TMD Energy), a Malaysia and Singapore-based provider of integrated marine bunkering services and a Straits Energy Resources Berhad (SER) subsidiary, on Tuesday (22 April) announced that its shares have been listed on 21 April and began trading on the NYSE American under the ticker symbol “TMDE”.

Dato’ Sri Ron Ho Kam Choy, Chairman, Executive Director, and Chief Executive Officer of TMD Energy, said: “We are proud to become the first Malaysian marine bunker supplier to achieve a listing on a major US exchange, reinforcing our position as one of the industry’s leading players.

“Leveraging Malaysia’s strategic location along major shipping routes including the Straits of Malacca and the South China Sea, as well as resilient demand for bunker fuel in the region and globally, we are well positioned for further expansion. On top of that, TMD Energy is also the first Malaysian company to list on the NYSE American.

“Our listing in NYSE American will help us to enhance our international profile, expand our reach, capture new markets, and deliver sustainable, higher returns to our shareholders.”

TMD Energy’s share price opened at USD 3.26 on Monday, rising to an all-time high of USD 4.12 on its market debut before closing at USD 3.63, which was 11.69% higher than its initial public offering (IPO) price of USD 3.25 per share. This gave the company a market capitalisation of USD 83.85 million (equivalent to approximately MYR 367.2 million) on its first day as a publicly listed company.

TMD Energy’s IPO was priced at USD 3.25 per share, and total gross proceeds (excluding the over-allotments) before deducting underwriting discounts and other related expenses were approximately USD 10.08 million (equivalent to approximately MYR 44.13 million). 

Proceeds from the IPO will be used for the purchase of cargo oil; defraying listing expenses; and working capital and other general corporate purposes.

The company has granted the underwriter a 45-day option to purchase up to an aggregate of 465,000 additional shares to cover over-allotments at the IPO price, If the underwriter exercises their option to purchase the additional shares in full, the total gross proceeds before deducting underwriting discounts and other related expenses from the offering are expected to be approximately USD 11.59 million.

Dato’ David Yoong Leong Yan, Executive Director of TMD Energy, said: “Our debut on the NYSE American is a key milestone in our journey of growth. While continuing to drive strong organic growth, as part of our strategic growth initiatives, we remain focused on identifying and pursuing strategic mergers and acquisition opportunities that align with our long- term vision and strengthen our regional presence.”

Manifold Times previously reported SER announcing its proposal to list its oil bunkering segment via the listing and quotation of the ordinary shares in its 76.68%-owned subsidiary, TMD Energy, on the New York Stock Exchange American (NYSE American).

TMD Energy and its subsidiaries (TMD Energy Group) are mainly involved in marine fuel bunkering services specialising in the supply and marketing of marine gas oil and marine fuel oil to various types of ships and vessels at sea. In addition, the company provides vessel chartering services and vessel management services.

TMD Energy Group operates in 19 ports across Malaysia, with a fleet of 15 well-maintained bunkering vessels with capacities ranging from 540 dwt to 7,820 dwt, of which nine are double-bottom and double-hull vessels with an average cargo-carrying capacity of 4,200 dwt each. Its customers include ship owners and operators, shipping lines, logistics and freight companies, as well as oil and gas traders or brokers. 

TMD Energy’s growth strategy includes expanding its market presence across Southeast Asia, growing its bunkering fleet, providing ship management services to external customers and diversifying its fuel offering to include eco-friendly alternative fuels such as biodiesel.

TMD Energy is part of SER, a Fortune Southeast Asia 500 company listed on the ACE Market of Bursa Malaysia Securities. 

Related: Malaysia: Straits Energy plans to list subsidiary TMD Energy on NYSE American

 

Photo credit: TMD Energy
Published: 22 April, 2025

Continue Reading

LNG Bunkering

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

After departing from Saijo Shipyard, LNG fuel will be supplied directly to “Verde Heraldo” through shore-to-ship bunkering at Senboku Terminal of Osaka Gas, and is then scheduled to sail for Australia.

Admin

Published

on

By

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

Mitsui OSK Lines (MOL) on Friday (18 April) said the naming and delivery ceremony for the LNG-fuelled Capesize bulker, which MOL ordered for JFE Steel Corporation, was held at the Saijo Shipyard of Imabari Shipbuilding. 

The vessel was named the Verde Heraldo, which means “Green Pioneer” in Spanish, by JFE Steel President and CEO Masayuki Hirose. MOL executives including President & CEO Hashimoto were also on hand for the ceremony.

After departing from Saijo Shipyard, LNG fuel will be supplied directly to the vessel through shore-to-ship bunkering at the Senboku Terminal of Osaka Gas, and is then scheduled to sail for Australia.

The Verde Heraldo will sail under long-term transport contracts to supply raw materials for JFE Steel's mills, providing both reduced environmental impact and safe and reliable marine transport services.

About Verde Heraldo

LOA: 299.99 m
Breadth: 50.00 m
Draft: 18.436 m
Deadweight tonnage: 210,321 tonnes
Shipyards: Imabari Shipbuilding and Nihon Shipyard 

 

Photo credit: Mitsui OSK Lines
Published: 22 April, 2025

Continue Reading

Business

ENGINE: Adverse weather keeps bunker operations suspended in Zhoushan’s OPL area

Bunker deliveries at Zhoushan’s Tiaozhoumen and Xiazhimen outer anchorages have been suspended due to rough weather; some suppliers expect to fully resume operations in OPL area by 22 April.

Admin

Published

on

By

Zhoushan Port Anchorage

Bunker deliveries at Zhoushan’s Tiaozhoumen and Xiazhimen outer anchorages have been suspended since Saturday due to rough weather, according to a source on Monday (21 April). 

However, bunker operations have resumed this morning at Zhoushan’s more sheltered Xiushandong anchorage and the inner anchorage of Mazhi.

The port is currently experiencing strong wind gusts of 24–27 knots and swells approaching one meter.

Several suppliers expect to fully resume bunkering operations in the OPL area by tomorrow (22 April), the source said.

By Tuhin Roy

 

Photo credit: Manifold Times
Published: 22 April, 2025

Continue Reading
Advertisement
  • Aderco Manifold Website Advert EN
  • Consort advertisement v2
  • EMF banner 400x330 slogan
  • v4Helmsman Gif Banner 01
  • RE 05 Lighthouse GIF
  • SBF2
  • Sea Trader & Sea Splendor
  • Zhoushan Bunker

OUR INDUSTRY PARTNERS

  • HL 2022 adv v1
  • Singfar advertisement final
  • Triton Bunkering advertisement v2
  • MFT 25 01 E Marine Logo Animation
  • SEAOIL 3+5 GIF


  • Mokara Final
  • NW Logo advertisement
  • 300 300
  • Auramarine 01
  • Trillion Energy
  • PSP Marine logo
  • endress
  • Synergy Asia Bunkering logo MT
  • Central Star logo
  • Uni Fuels oct 2024 ad
  • Advert Shipping Manifold resized1
  • VPS 2021 advertisement
  • LabTechnic

Trending