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Singapore: Keppel Marina Holdings Pte. Ltd. to undergo voluntary wind up

Creditors to send in their names and addresses, with particulars of their debts and claims, to the Liquidators on or before 29 August, according to the Government Gazette.

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Two notices were published in the Government Gazette on Friday (29 July) regarding the winding up process of Keppel Marina Holdings Pte. Ltd., a subsidiary of Keppel Corporation Limited. 

The first notice informed creditors of the company to send in their names and addresses and particulars of their debts or claims, and the names and addresses of their solicitors (if any) to the Liquidators of the company on or before 29 August, 2022. 

If so required by notice in writing from the said Liquidators are, by their solicitors or personally, to come in and prove their debts or claims at such time and place as shall be specified in such notice, or in default thereof they will be excluded from the benefit of any distribution made before such debts are proved.

Contact details of the liquidators are as follows:

LEOW QUEK SHIONG
GARY LOH WENG FATT
SEAH ROH LIN
LIQUIDATORS
c/o BDO Advisory Pte. Ltd.
600 North Bridge Road
#23-01 Parkview Square
Singapore 188778

The second notice was informing that an Extraordinary General Meeting of the members of the company was held on 25 July 2022, where the following Resolutions were duly passed:

AS SPECIAL RESOLUTIONS

  1. That the Company be wound up voluntarily pursuant to Section 160(1)(b) of the Insolvency, Restructuring and Dissolution Act 2018 (No. 40 of 2018). 
  2. That the Liquidators be authorised to exercise any or all of the powers provided under Section 144(1)(b), (c), (d), (e), (f) and (g) and 144(2) of the Insolvency, Restructuring and Dissolution Act 2018 (No. 40 of 2018). 
  3. That the Liquidators be and are hereby authorised to distribute in specie any or all of the assets of the Company remaining after satisfaction of all debts and liabilities.

AS ORDINARY RESOLUTIONS

  1. That Messrs. Leow Quek Shiong, Gary Loh Weng Fatt and Seah Roh Lin c/o BDO Advisory Pte. Ltd., 600 North Bridge Road #23-01 Parkview Square Singapore 188778 be and are hereby appointed the joint and several Liquidators of the Company for the purpose of such winding-up and that the Liquidators be indemnified by the Company against all costs, charges, losses, expenses and liabilities incurred or sustained by them in the execution and discharge of their duties in relation thereto. 
  2. That the remuneration of the Liquidators be based on their normal scale rates for carrying out the engagement plus disbursements and the prevailing goods-and-services tax and that the Liquidators’ remuneration be paid out of the assets of the Company.

Manifold Times recently sighted a document by Keppel Corporation announcing that its dormant subsidiary Keppel Marina Holdings has been placed under members’ voluntary liquidation. 

“The liquidation of this subsidiary is not expected to have any material impact on the net tangible assets or earnings per share of the Company for the financial year ending 31 December 2022.”

Keppel Corporation subsidiaries include shipbuilder Keppel Offshore & Marine. 

 

Photo credit: steve pb from Pixabay
Published: 2 August, 2022

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Poland: ORLEN to strengthen position in bunker fuels sector with new oil terminal

With the terminal’s commissioning, the company plans to introduce a bunkering vessel to service the Tri-City ports with conventional marine fuels and biofuels.

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ORLEN oil terminals

Polish multinational oil refiner ORLEN Group on Wednesday (12 June) said it is solidifying its presence in the marine fuels market with the construction of a new oil terminal that is scheduled for completion by the second half of 2025.

Construction of the Martwa Wisła terminal, located on the Martwa Wisła river, has already exceeded 70%.

The Martwa Wisła terminal will enhance the logistics capabilities of the Gdańsk refinery, allowing for the transshipment of approximately 2 million tonnes of fuel products annually.

The first four loading arms have already arrived at the construction site and the remaining four loading arms are slated for delivery by the end of June. The devices, with a throughput capacity of up to 500m³/h, will be used at transshipment points to load tankers.

With the terminal's commissioning, the company plans to introduce a bunkering vessel to service the Tri-City ports (Gdańsk, Gdynia, Sopot) with conventional fuels and biofuels.

For over 20 years, the Group has been supplying quality marine fuels to all Polish seaports. Its refinery product portfolio encompasses a wide range of fuels that guarantee quality and strict compliance with regulations, including MGO (DMA 0.1%S), ULSFO (RMD80 0.1% S) and LNG, which will in the near future be complemented with ‘green’ alternatives.

All marine fuels offered by ORLEN comply with the international ISO 8217:2017 standard and meet the requirements of the MARPOL Convention.

 

Photo credit: ORLEN Group
Published: 14 June 2024

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Australia: Crew of bunker tanker “Champion 63” to strike following employer’s refusal to negotiate

‘BP has decided they can’t pay industry standards in Brisbane and want to keep their workers’ wages low,’ states MUA spokesman.

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Champion 63

The crew of Champion 63, a 2022-built Australia-registered bunker tanker with home port of Brisbane, is set to go on strike after bargaining for a new enterprise agreement has stalled, stated the Maritime Union of Australia (MUA) on Wednesday (12 June).

Members of the Australian Maritime Officers Union, the Australian Institute of Marine and Power Engineers, and MUA voted up protected industrial action on 11 June 2024.

The crews have been trying to formalise their employment conditions with ASP Ship Management since the bunkering operations commenced in February 2023. It took ASP approximately six months to issue the Notice of Employee Representational Rights (NERR) and start bargaining.

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“The crew of the new bunker barge on the Brisbane River and the maritime unions bent over backwards to make this vessel work,” said MUA Assistant Branch Secretary Paul Gallagher.

“Including low wages, excessive hours and a roster that does not allow crew to take leave. 18 months down the track when it comes time for BP to reward their crew and pay industry standards what do they do? They deny them fair wages, a workable roster and threaten their back pay!”

The AMOU filed a bargaining dispute after ASP refused to take their claim for a roster that does not demand that crews work every weekend seriously.

“Having to work every weekend because ASP does not have suitable relief arrangements is unacceptable,” said AMOU Industrial Officer Tracey Ellis.

“Crews have a right to be rostered time off to spend with their family. Waiting for ASP to fix the issue did not work, filing a Bargaining Dispute in the Fair Work Commission did not work, so the crews will take protected industrial action until their concerns are taken seriously.”

The crews onboard the Champion 63 voted up an unlimited number of stoppages of work of between one hour and 48 hours.

Gallagher added that, “the Maritime unions will not tolerate the big multinational fuel barons of this world undermining the Australian maritime wages and conditions of seven local mariners who are trying their best to support our own local shipping and Cruise Ship industry. If your cruise holiday gets delayed it is because, after recording over $40 billion profit in last two years, BP has decided they can’t pay industry standards in Brisbane and want to keep their workers’ wages low.”

 

Photo credit: Maritime Union of Australia
Published: 13 June 2024

 

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Infineum releases Sustainability Report 2023 outlining its sustainability progress

Infineum celebrates 25 years of operations and looks forward to the next 25 years of progress towards its net zero ambition by 2050, says CEO.

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Press release Infineum remains focused on our purpose to become a sustainable world class specialty chemicals company

Infineum, a specialty chemicals company headquartered in the UK, on Thursday (13 June) released its fourth annual Sustainability Report, reinforcing its purpose to create a sustainable future through innovative chemistry.

Aligned with the company’s strategic plan to achieve its vision and purpose, Infineum announces:

Publication of its Sustainability Report 2023 (Sustainability.Infineum.com), which outlines the efforts and progress that the company has achieved through the year, including:

  • Championing of Diversity, Equity & Inclusion (DE&I) throughout the organisation
  • Achievement of 28% of colleagues volunteering, surpassing its 2025 target of 25%
  • Increased share of relevant supplier spends covered by sustainability assessments to 62%

Launch of revamped corporate website (www.Infineum.com) to better represent Infineum as a specialty chemicals company, showcasing Infineum’s existing capabilities, as well as diversification in the new markets

The joint venture, formed in 1999 between Shell and Exxon Mobil, celebrates its 25th anniversary this year and recently shared its restructure strategy to two business units, Sustainable Transportation and Energy Applications.

“As Infineum celebrates 25 years of operations and we look forward to the next 25 years of progress towards our net zero ambition by 2050, I am pleased to share our fourth annual sustainability report,” says Infineum CEO Aldo Govi.

“This is a journey and we have made excellent progress, but improvement will not always be linear, especially when set against the backdrop of a challenging external environment, but our purpose of creating a sustainable future through innovative chemistry, continues to drive us forward.

“We remain focused on our vision to become a sustainable world-class specialty chemicals company. Sustainability was at the core of reshaping Infineum to better enable us to contribute to sustainable mobility and the transition to a low-carbon economy.”

 

Photo credit: Infineum
Published: 13 June 2024

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