Connect with us

Legal

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).

Admin

Published

on

state courts

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

Continue Reading

Winding up

Singapore: Final general meetings scheduled for Dromond Shipping, related firms

A member is entitled to attend the meetings and should notify the liquidators’ team office via email no later than 48 hours prior to the meeting.

Admin

Published

on

By

steve pb from Pixabay

The final general meetings of Dromond Shipping Pte Ltd  and related companies have been scheduled to take place on 19 October, according to the company’s liquidator on a notice posted on Friday (18 September) on the Government Gazette.

The other companies are Tidewater Emergency Response Services Pte Ltd, Tidewater Production Solutions Pte Ltd and Tidewater Salvage Pte Ltd. 

The final general meetings of the members of the companies will be held via electronic means on 19 October 2026 at 2.00 pm, 2.30 pm, 3.00 pm and 3.30 pm (Singapore time), respectively.

The meetings are being held for the purpose of having accounts laid before the members showing the manner in which the winding up of the respective companies has been conducted and how the property of the respective companies has been disposed of and to hear any explanation that may be given by the liquidators. 

The details of the liquidator is as follows:

Tan Kim Han
Joint and Several Liquidators
137 Amoy Street, #02-03, Far East Square
Singapore 049965

Note: A member is entitled to attend the above meeting and should notify the Liquidators’ team office via email to [email protected] or [email protected] no later than 48 hours prior to the meeting.

 

Photo credit: steve pb from Pixabay
Published: 21 September, 2026

Continue Reading

Winding up

Singapore: Liquidator of Da Xin Tankers, Nan Chiau Maritime issues notices of dividend

Da Xin Tankers’s second interim dividend and Nan Chiau Maritime’s third interim dividend are payable from 17 September, according to Government Gazette notices.

Admin

Published

on

By

Resized benjamin child

Notices of dividend for Da Xin Tankers Pte Ltd and Nan Chiau Maritime Pte Ltd, which are currently in creditors’ voluntary liquidation, were published on the Government Gazette on Thursday (17 September). 

The following are the details of the notice for Da Xin Tankers:

Name of Company : Da Xin Tankers (Pte) Ltd (In Creditor’s Voluntary Liquidation)
Unique Entity No. / Registration No. : 198400895W
Address of Registered Office : c/o Grant Thornton Singapore Private Limited, 8 Marina View, #40-04/05 Asia Square Tower 1, Singapore 018960
Amount per centum (US$) : 5.00 cents to a dollar of admitted unsecured claims
First and Final or otherwise : Second Interim Dividend
When payable : 17 September 2026
Where payable : Entitlements will be made either by way of telegraphic transfer or by cheque, to be collected from the Company’s registered address as above

The following are the details of the notice for Nan Chiau Maritime:

Name of Company : Nan Chiau Maritime (Pte.) Ltd. (In Creditors’ Voluntary Liquidation)
Unique Entity No. / Registration No.: 200814296Z
Address of Registered Office : c/o Grant Thornton Singapore Private Limited, 8 Marina View, #40-04/05 Asia Square Tower 1, Singapore 018960
Amount per centum (US$) : 7.00 cents to a dollar of admitted unsecured claims
First and Final or otherwise : Third Interim Dividend
When payable : 17 September 2026
Where payable : Entitlements will be made either by way of telegraphic transfer or by cheque, to be collected from the Company’s registered address as above.

 

Photo credit: Benjamin Child
Published: 18 September, 2026

Continue Reading

Winding up

Singapore: Marine fuel testing firm CCIC Singapore faces winding up application

Application for the winding up of CCIC Singapore Pte Ltd was filed by Hong Kong-registered CCIC International Holding Limited on 7 September, according to Government Gazette notice.

Admin

Published

on

By

CCIC SG

An application for the winding up of marine fuel testing and surveying firm CCIC Singapore Pte Ltd (CCIC Singapore) was filed by Hong Kong-registered CCIC International Holding Limited on 7 September, according to a Monday (14 September) notice on the Government Gazette.

It noted the winding up application is directed to be heard before the Judge sitting in the General Division of the High Court at 10am on 2 October.

Manifold Times previously reported US Department of the Treasury’s Office of Foreign Assets Control (OFAC) sanctioned nearly two dozen firms operating in multiple jurisdictions, including CCIC Singapore.

OFAC alleged that Sepehr Energy “consistently relied” on CCIC Singapore to accomplish not only the necessary pre-delivery cargo inspections required before oil is transferred to China, but also to conceal the oil’s Iranian origins.

In late 2024, CCIC Singapore provided inspection services during a ship-to-ship transfer of approximately two million barrels of Iranian oil from the sanctioned vessel and Sepehr Energy-affiliated SIRI (IMO 9281683), formerly known as the ANTHEA. 

In June 2025, CNA reported that the company laid off hundreds of workers after it was hit with the sanctions. Later, the CCIC Singapore told CNA that the layoffs were due to the impact of the sanctions which was greater than expected, and that it has ceased operations in Singapore. 

According to the Government Gazette notice, any creditor or contributory of the company desiring to support or oppose the making of an order on the winding up application may appear at the time of hearing by himself or his counsel for that purpose.

A copy of the winding up application will be furnished to any creditor or contributory of the company requiring the copy of the winding up application by the solicitors of the applicant’s, Oon & Bazul LLC, on payment of the regulated charge for the same.

The Applicant’s address is 29/F, East Tower, Shun Tak Centre, 168-200 Connaught, Rd Central, Hong Kong, China.

The Applicant’s solicitors are TKQP Law LLP of 1 Wallich Street, #07-02 Guoco Tower, Singapore 078881.

Note: Any person who intends to appear at the hearing of the winding up application must send notice of such intention to the abovenamed TKQP Law LLP, the Claimant’s solicitors, within the time and in the manner set out in rule 70 of the Insolvency, Restructuring and Dissolution (Corporate Insolvency and Restructuring) Rules 2020. The notice must be in Form CIR-15 and state the name and address of the person, or, if a firm, the name and address of the firm, and must be signed by the person, firm, or his or their solicitor (if any) and must be served and, if sent by post, must be posted in such time as in the ordinary course of post to reach the address of the Claimant’s abovenamed solicitors, at least 3 clear working days before 2 October 2026 (the day appointed for the hearing of the application).

Related: CCIC Singapore amongst nearly 24 firms named in latest US OFAC sanctions

 

Photo credit: Manifold Times
Published: 15 September, 2026

Continue Reading

Trending