The creditors’ meeting of Quetzal Offshore Pte Ltd Pte Ltd, has been scheduled to take place on 27 May, states a Monday (19 May) notice posted on the Government Gazette. 

The meeting for creditors of the company will be held by way of electronic means at 3pm. 

The purposes of the meeting are:

• receiving a statement of the Company’s affairs together with a list of creditors and the estimated amounts of their claims;
• confirming the appointment of Mr. Chan Kwong Shing, Adrian, Ms. Toh Ai Ling and Ms. Tan Yen Chiaw all care of KPMG Services Pte. Ltd. of 12 Marina View, #15-01 Asia Square Tower 2, Singapore 018961, as the joint and several Liquidators of the Company pursuant to Section 167(1) of the Act for the purpose of winding up the affairs of the Company at such remuneration based on time costs;
• resolving that the Liquidators be at liberty to open, maintain and operate any bank account(s) or account(s) for monies received by them as Liquidators with such bank(s) as they deem fit;
• forming a Committee of Inspection of not more than 5 members, if thought fit; 
• and any other business

According to SGP Business website, a business platform for businesses and individuals, the company’s main business was offering ship management services. 

Photo credit: Benjamin-child
Published: 21 May, 2025

The UK on Tuesday (20 May) announced a raft of 100 sanctions targeting Russian military, energy, financial sectors and those conducting Putin’s information war against Ukraine.

The latest sanctions target 18 more ships in the ‘shadow fleet’ carrying Russians oil, along with the fleet’s enablers. The Prime Minister announced 110 shadow fleet related sanctions ahead of his visit to Kyiv earlier this month.  

John Michael Ormerod, a British national, also faced sanction for procuring ships for Russia’s shadow fleet. Two Russian captains of shadow fleet tankers were also named in the list of individuals who were sanctioned. 

“This action imposes a personal cost on those who are supporting Russia’s trade in oil and is another step in the Foreign Secretary’s personal mission to constrain the Kremlin and a crucial part of the Plan for Change to ensure a secure Britain,” the government said in a statement. 

The UK is also working with partners to tighten the Oil Price Cap that limits the price that Russia can charge for its oil if transported using G7 services like insurance and shipping. 

“We are reviewing the $60 crude price level, with a view to lowering the cap closer to the cost of production and hitting Putin where it hurts by striking at his oil revenues,” it added.

The following is the list of sanctioned 18 ships:

• TORONTO (IMO 8808525)  
• NEXT (IMO 9286023) 
• SPRING FORTUNE (IMO 9386536)  
• RAGNAR (IMO 9384095)  
• FURIA (IMO 9257802) 
• CORTEX (IMO 9291250)  
• CETUS (IMO 9418482)  
• MISSONI (IMO 9296810) 
• OTLA (IMO 9299719)  
• MAIN (IMO 9387255) 
• NAUTILUS (IMO 9434890) 
• ARABELA (IMO 9253313)  
• RICCA (IMO 9292577)  
• TEAM (IMO 9292589) 
• LEOPARD (IMO 9284594) 
• PIERRE (IMO 9266877) 
• JAMES II (IMO 9253909) 
• LIETO (9389679) 

Photo credit: balesstudio on Unsplash
Published: 21 May, 2025

Singapore-based trading companies have been reached out by Indonesia authorities to seek their cooperation in a USD 12 billion (SGD 15.5 billion) corruption investigation involving state-owned oil giant PT Pertamina, reports Bloomberg.

According to several people who received or saw the invitation, who wished to remain anonymous, the oil traders received notices earlier this month, requesting them to assist the office of Indonesia’s Attorney General by providing answers on overall governance and past transactions. 

The missive, sent from a Pertamina email address, detailed that the interviews would be conducted at Singapore’s Corrupt Practices Investigation Bureau (CPIB), without confirming dates. 

The Attorney General office reportedly confirmed several Singapore-based companies had been summoned, but said no interviews have been conducted yet. 

In February, it was reported that Indonesia’s Attorney General’s Office arrested three executives at units of state-owned oil and gas giant Pertamina in connection with a IDR 193.7 trillion (USD 12 billion) crude oil corruption scandal.

Since then, Indonesia’s local media has reported more executives including Nicke Widyawati, the company’s former chief executive, have been questioned by the office of Attorney General. 

According to the Bloomberg report, Indonesia is dependent on energy imports, and Singapore-based companies are regular participants in Pertamina’s tenders for the purchase of petrol and crude oil. 

Recently, there have been reports of Indonesia planning to cut fuel imports from Singapore and is eyeing supplies from the US and the Middle East instead. 

Indonesia’s Energy and Mineral Resources Minister Bahlil Lahadalia stated that Indonesia could shift as much as 60% of its total fuel imports from Singapore to the United States in the early stages. He was quoted as saying Indonesia aimed to progressively reduce imports from Singapore to zero “some day”.

Photo credit: Pertamina
Published: 20 May, 2025