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Singapore: Investigations uncover USD 3.6 million worth of bunker short deliveries by Vermont UM Bunkering

Senior Cargo Officer gained SGD 48,800 worth of commission from “buyback” bunker transactions and illegally obtained SGD 410,712.257 by cheating Vermont, a Singapore court heard on Thursday (21 July).

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Investigations by local authorities have uncovered staff of former Singapore bunker supplier Vermont UM Bunkering Pte Ltd (Vermont) short delivering USD 3.6 million (exact: USD 3,645, 976.34) worth of marine fuel to 14 clients* over 52 occasions between 4 January 2014 and 2 March 2016.

The development involved Poh Fu Teck (Director), Koh Seng Lee (Director), Lee Kok Leong (Bunker Manager), Lee Peck Yong (Cargo Officer), Loh Cheok San (Senior Cargo Officer) and two absconded staff namely Yang San Hua (Director) and Xing Tao (Financial Controller).

Loh Cheok San (Mr Loh) was at the State Courts of Singapore on Thursday (21 July) when he pleaded guilty to two counts of cheating under Section 420 of the Penal Code read with Section 109 of the Penal Code (Cap 224, 2008 Rev Ed).

He gained SGD 48,800 worth of commission from “buyback” bunker transactions and illegally obtained SGD 410,712.257 by cheating Vermont, according to court documents obtained by Manifold Times.

“Buyback” Bunker Transactions

Mr Loh receive about SGD 10 per metric tonne (pmt) of marine fuel oil as commission for participating in “buyback” transactions which would be split 50-50 between him and any cargo office involved in the transaction.

He is estimated to have earned a commission of at least SGD 43,600 from the “buyback” transactions he participated in – calculated from multiplying SGD 5 pmt by the 8,720 metric tonnes of under-delivered marine fuel oil.

Extra Commission Cheated from Vermont

Further, Mr Loh said he was instructed by Lee Kok Leong to over-declare “buyback” figures to Vermont in order to gain extra money for sharing with his peers. This resulted in him earning an estimated extra commission of SGD 5,200 from Vermont.

Cheating Vermont

Investigations also uncovered Vermont being cheated of at least USD 979,750 in total by Mr Loh, Lee Kok Leong, and Gerald Lee.

The difference between what was declared to Vermont and the amount actually paid to the Chief Engineer of the vessel would be split equally between the three individuals after paying the cargo assistant, usually SGD 5 pmt.

It is estimated Loh’s share of the difference was about USD 314,960.95 (SGD 410,712.257).

Mr Loh, who has not made any restitution of his illegal gains to date, has been scheduled to face sentencing in October 2022.

*Singapore bunkering publication Manifold Times has chosen to withhold the names of these 14 clients

Related: Directors of Vermont granted leave to pursue legal suits against Goldsland and Sin Hua
Related: Vermont UM Bunkering makes winding up application at Singapore High Court
Related: Vermont UM Bunkering Directors plan to defend claims from Hong Kong firms
Related: Goldsland Holdings moves in to secure US $22 million from Vermont UM Bunkering
Related: Bank seeks $38 million from arrested Singapore bunker tankers
Related: Singapore: Four bunker tankers arrested
Related: Singapore-based Vermont UM Bunkering directors, staff charged for fraud

 

Photo credit: Manifold Times
Published: 25 July, 2022

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Winding up

Singapore: Annual meeting of members and creditors set for Ocean Bunkering Services

Meeting for Ocean Bunkering Services, the marine fuels business arm of troubled Hin Leong Trading, will be held at 2pm on 25 February, according to Government Gazette notice.

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RESIZED Ocean Bunkering Services

An annual meeting of members and creditors for Ocean Bunkering Services (OBS), the marine fuels business arm of troubled Hin Leong Trading, will be held 25 February, according to a Government Gazette notice on Friday (14 February). 

The meeting will be held at 2pm at 600 North Bridge Road, #23-01 Parkview Square Singapore 188778.

The meeting will be held for the purposes of having an account laid before the meeting showing the acts and dealings of the Liquidators and the conduct of the winding-up in the preceding year.

The details of the liquidators are as follow:

LEOW QUEK SHIONG
GARY LOH WENG FATT
LIQUIDATORS
c/o 600 North Bridge Road
#23-01 Parkview Square
Singapore 188778

In 2020, Manifold Times previously reported the Maritime and Port Authority of Singapore (MPA) stating OBS’ bunkering licences were suspended until further development at the time. 

“Given that OBS has stopped its bunkering operations since April this year and has not been able to fulfil its licensing commitment to date, MPA has suspended their bunkering licences until further notice,” MPA was quoted as saying at the time.

Later, an Extraordinary General Meeting concluded with the decision to voluntarily wind up Ocean Bunkering Services due to its current liabilities.

Related: Notices of dividend issued for Ocean Bunkering Services, Hin Leong Marine
Related: OBS to wind up operations; creditor list alleges estimated USD 42 million debt
Related: MPA: Ocean Bunkering Services licenses suspended ‘until further notice’ and not revoked, it clarifies
Related: PwC publishes ‘investment opportunity’ for Singapore independent bunker fuel supplier
Related: Singapore: Ocean Bunkering Services bunker claims against ASL Marine & Offshore heads to arbitration
Related: Singapore: Ocean Bunkering Services license suspended until further notice
Related: Singapore: Ocean Bunkering Services to discontinue marine fuel deliveries

 

Photo credit: Manifold Times
Published: 17 February, 2025

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Winding up

Singapore: Final meetings scheduled for Gagarmayang Maritime and related companies

Other companies involved are Pramoni Maritime Pte Ltd, Wulansari Maritime Pte Ltd, Anjasmoro Maritime Pte Ltd and Indradi Maritime Pte Ltd.

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The final meetings of members of Gagarmayang Maritime Pte Ltd and related companies, has been scheduled to take place on 12 March, according to the company’s liquidators on a notice posted on Wednesday (12 February) on the Government Gazette.

The other companies involved in the matter are Pramoni Maritime Pte Ltd, Wulansari Maritime Pte Ltd, Anjasmoro Maritime Pte Ltd and Indradi Maritime Pte Ltd.

The meetings will be held by way of electronic means at 11am for the purpose of having an account laid before the members showing the manner in which the winding up has been conducted and the property of the company disposed of and of hearing any explanation that may be given by the liquidators.

The details of the liquidators are as follows:

Hamish Alexander Christie
c/o H.A. Christie & Co
20 Collyer Quay, #11-05
Singapore 049319

Related: Singapore: Wulansari Maritime Pte Ltd and related companies to be wound up voluntarily
Related: Creditors meeting for Anjasmoro Maritime and affiliated sister firms to be held in Oct

 

Photo credit: Benjamin-child
Published: 14 February, 2025

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Business

Solomon Islands government joins landowners in compensation claim over 2019 oil spill disaster

Considered the biggest environmental disaster in Solomon Islands’ history, grounding of “MV Solomon Trader” and subsequent oil spill caused environmental devastation at Rennell Island, says government.

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Solomon Islands government joins landowners in compensation claim over 2019 oil spill disaster

The Solomon Islands government last month stated its support to the landowners of Kangava Bay, East Rennell by joining a compensation claim against international companies responsible for a monumental oil spill in February 2019.

Considered the biggest environmental disaster in Solomon Islands’ history, the grounding of Hong-Kong flagged bulk carrier MV Solomon Trader and the subsequent oil spill caused environmental devastation at Rennell Island. 

The vessel reportedly ran aground on 4 February and spilled more than 300 metric tonnes (mt) of heavy fuel oil into the ocean. 

“A first-of-its-kind claim in both collaboration and magnitude, the government and landowners have joined as co-claimants to pursue a group of international companies for environmental and other damages,” the government said in a statement. 

The compensation claim was filed in the High Court in Honiara on 31 January by the landowners of the Kangava Bay Community East Rennell Island and the Attorney General on behalf of the Solomon Islands government.

Acting jointly with the landowners in the matter, the Attorney-General Mr John Muria Jnr will lead the Solomon Islands government in the claim.

“We wish to ensure that companies act within local and international maritime and environmental laws and those that don’t need to be held to account,” said Attorney-General John Muria Jnr.

Solomon Islands Minister of Environment Climate Change, Disaster Management & Meteorology Trevor Mahaga, points out that “while East Rennell is a remote area, its environmental importance cannot be overstated and significant damage was done to this important part of our country and despite the generous clean-up assistance from Australia and New Zealand at the time, the residents continue to be impacted.”

“Neither the Kangava Community nor the Solomon Islands Government have received any assistance or compensation from the parties that are allegedly responsible,” the government added. 

Related: Bunker spill at Solomon Islands continue, more help sent
Related: Bunker spill: “Solomon Trader” beached at Solomon Islands
Related: “Solomon Trader” disaster shows nowhere safe from HFO spills

 

Photo credit: Solomon Islands government
Published: 14 February, 2025

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