Legal

Singapore: Straits Bunkering a step closer in securing SGD 8 million bunker spill liability ceiling

Remaining claims to be compensated by International Oil Pollution Compensation Fund 1992 which has a much higher limit of SGD 362 million.

Published

9 months ago

August 7, 2024

Admin

Straits Bunkering and QBE Insurance (Singapore), which uses the brand name British Marine, has taken a step closer in securing liability limitation from a recent bunker spill involving Marine Honour (IMO 9422811).

PSA Corporation will not be to contesting the right for Straits Bunkering and British Marine to limit their liability, showed documents obtained from the court by Manifold Times.

The latest development paves way for Straits Bunkering and British Marine to limit their liability, whereby a ceiling of 4,510,000 Special Drawing Rights (SDR) valued at approximately SGD 8 million will be deposited by QBE Insurance into a local bank account.

Claims exceeding the liability limitation of Straits Bunkering, owner of bunker tanker Marine Honour, will meanwhile be made against International Oil Pollution Compensation Fund 1992 which has a much higher limit of SGD 362 million.

Singapore is a Party to both the 1992 Civil Liability Convention (CLC) and the 1992 Fund Convention. It has been confirmed that the oil from the vessel is persistent and that the Marine Honour falls within the definition of ‘ship’ under those Conventions. Therefore, both the 1992 CLC and Fund Convention apply to this incident.

Under the 1992 CLC, the shipowner has strict liability for any pollution damage caused by the oil, i.e. the owner is liable even if there was no fault on the part of the ship or its crew. However, the shipowner has the right to limit its financial liability to an amount that is determined by the tonnage of the ship.

The 1992 Fund Convention provides a second tier of compensation when full compensation for the pollution damage cannot be obtained from the shipowner, or valid claims exceed the shipowner’s limit. Claimants may be individuals, partnerships, companies, private organisations or public bodies, including States or local authorities.

On 30 July, IOPC Funds and British Marine, insurer of Marine Honour, opened a Claims Submission Office to facilitate the submission of claims for compensation by those affected by the oil pollution damage resulting from the incident, which occurred at Pasir Panjang Terminal, Singapore on 14 June 2024.

Note: Lawyers from Helmsman LLC are representing Straits Bunkering and QBE Insurance (Singapore), while PSA Corporation is represented by lawyers from Rajah & Tann Singapore LLP.

Published: 7 August 2024

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Singapore: Notice of first and final dividend issued for East Marine Pte Ltd

First and final dividend to preferential creditors of East Marine is payable from 25 April through interbank transfer, reads notice in the Government Gazette.

Published

1 day ago

April 29, 2025

Admin

A notice was published in the Government Gazette on Friday (25 April), regarding the first and final dividend to preferential creditors of East Marine Pte Ltd.

The following are details of the notice of dividend of the company:

Name of Company : East Marine Pte Ltd (In Creditors’ Voluntary Liquidation)
Singapore UEN : 198601345E
Address of Registered Office : 8 Wilkie Road #03-08 Wilkie Edge, Singapore 228095
Amount per centum : 100.00 per centum of all admitted preferential claims pursuant to Section 203(1)(d), (e), (g) and (h) of the Insolvency, Restructuring and Dissolution Act 2018
First and final or otherwise : First and final
When payable : 25 April 2025 onwards
Where payable : Interbank transfer (all bank charges shall be borne by the recipient of the preferential dividend payment)

Photo credit: steve pb from Pixabay
Published: 29 April, 2025

Winding up

Singapore: Liquidator schedules final meeting for Kukuh Shipping Pte Ltd

Final meeting of members of the company will be held at 9 Raffles Place, #19-20 Republic Plaza Tower 2, Singapore 048619 on 26 May at 10 am, according to Government Gazette notice.

Published

2 days ago

April 28, 2025

Admin

The final meeting of members for Kukuh Shipping Pte Ltd, has been scheduled to take place on 26 May, according to the company’s liquidator on a notice posted on Friday (25 April) on the Government Gazette.

The meeting will be held at 9 Raffles Place, #19-20 Republic Plaza Tower 2, Singapore 048619 at 10 am.

It is being held for the purpose of receiving an account from the liquidator showing the manner in which the winding-up has been conducted and of hearing any explanation that may be given by the liquidator.

According to SGPBusiness, a business directory for companies registered in Singapore, the company's principal activity is in shipping, including chartering of ships and boats with crews.

The details of the liquidator are as follows:

Cheng Sam Tai Catherine
Liquidator
c/o Crowe Horwath First Trust Corporate Advisory Pte. Ltd.
9 Raffles Place, #19-20 Republic Plaza Tower 2, Singapore 048619

Photo credit: Jo_Johnston from Pixabay
Published: 28 April, 2025

Winding up

Final meeting scheduled for Diamond S Management (Singapore) Pte Ltd

Meeting will be held at 9.30am on 29 May by electronic means via a Zoom meeting to hear any explanation that may be given by the liquidator, according to Government Gazette notice.

Published

2 days ago

April 28, 2025

Admin

The final meeting of Diamond S Management (Singapore) Pte Ltd, has been scheduled to take place on 29 May, according to the company’s liquidators on a notice posted on Wednesday (16 October) on the Government Gazette.

The meeting will be held at 9.30am by way of electronic means via a Zoom meeting. It is being held for the purpose of the members to receive and consider the Liquidators’ Statement of Accounts, showing how the winding-up has been conducted and the property of the company has been disposed of and to receive an explanation thereof.

The liquidators of the company are Mona Low Sok Lee and Teo Chai Choo.

According to SGPBusiness, a business directory for companies registered in Singapore, and The Grid, B2B Sales Intelligence platform, the company’s principal activity is ship management services.

Note: Any member entitled to attend and vote at the meeting is entitled to appoint a proxy or corporate representative to attend and vote on his behalf. A proxy or corporate representative need not be a member. The instrument appointing a proxy or corporate representative must be deposited at the Registered Office of the Company at 4 Shenton Way, #04-01 SGX Centre 2, Singapore 068807 not less than seventy-two hours before the time set for holding of the Meeting.

Photo credit: Drew Beamer
Published: 28 April, 2025