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Singapore: Victory Shipping aiming to set aside bankruptcy court process from Integr8 Fuels

Integr8 Fuels lawyers served a statutory demand against Victory Shipping under Section 125(2)(c) and Section 10 of the IRDA 2018 act on 3 October 2025.
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A virtual hearing between Victory Shipping Pte Ltd (UEN 201117370M) and Integr8 Fuels Pte Ltd (UEN 202042378N), organised by the High Court of the Republic of Singapore, is scheduled to take place on Tuesday (14 November), learned Manifold Times.

The event is to set aside a statutory demand served on 3 October 2025 by Integr8 Fuels lawyers under Section 125(2)(c) and Section 10 of the Insolvency, Restructuring and Dissolution Act 2018 (IRDA) against Victory Shipping, according to court documents obtained by the bunkering publication.

Under Singapore Statutes Online, Section 125(2)(c) provides “a company is deemed unable to pay its debts if it is proved to the satisfaction of the Court that the company is unable to pay its debts; and in determining whether a company is unable to pay its debts the Court must take into account the contingent and prospective liabilities of the company,”

Section 10 of Singapore’s IRDA deals with the procedure to be followed when no specific procedure is provided for a matter. It states that where the IRDA does not specify a procedure, the court may adopt any procedure it considers appropriate. This is a general provision that grants courts the flexibility to manage proceedings that fall outside the specific rules laid out in the Act.

Victory Shipping, with representations in Malaysia, India and the U.A.E., operate dry bulk shipping contracts around the globe with voyages performed mainly in the Middle East and Southeast Asia.

Integr8 Fuels provides bunker trading and brokerage services to shipowners and operators that enables them to optimise fuel procurement.

 

Photo credit: Manifold Times
Published: 3 November 2025

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Singapore: Nan Shan Maritime liquidator issues notice of intended dividend

Creditors will need to produce proofs of debt to liquidator of Nan Shan Maritime by 14 July, according to Government Gazette notice.
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July 1, 2026

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A notice to declare intended dividend of Nan Shan Maritime Pte Ltd to its creditors has been posted on the Government Gazette on Tuesday (30 June).

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

Name of Company : Nan Shan Maritime (Pte.) Ltd. (In Creditors’ Voluntary Liquidation)
Unique Entity No. / Registration No. : 201701967H
Address of Registered Office : 10 Anson Road, #10-10, International Plaza, Singapore 079903
Last Day for Receiving Proofs : 14 July 2026
Name of Liquidator : Tam Chee Chong
Address : c/o 10 Anson Road, #10-10, International Plaza, Singapore 079903

 

Photo credit: steve pb from Pixabay
Published: 1 July, 2026

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Singapore: Kekal Shipping Pte Ltd to undergo voluntary wind up

A liquidator has been appointed at an extraordinary general meeting held on 18 June for the purpose of winding up the company’s affair, according to Government Gazette notice.
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June 30, 2026

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A notice in the Government Gazette was published by the Director of Kekal Shipping Pte Ltd on Friday (26 June), regarding resolutions that were passed in relation to the winding up of the company.

The following resolutions were duly passed during an an Extraordinary General Meeting of the company, which was held at 1 Harbourfront Avenue, #14-07 Keppel Bay Tower, Singapore 098632 on 18 June at 10am:

SPECIAL RESOLUTION

RESOLVED that the Company be wound up voluntarily pursuant to Section 160(1)(b) of the Insolvency, Restructuring and Dissolution Act 2018.

ORDINARY RESOLUTION

RESOLVED that Ms Lee Yan Huei of Messrs Acclime Corporate Advisory Singapore Pte. Ltd. be appointed liquidator of the Company for the purpose of such winding up

 

Photo credit: Jo_Johnston from Pixabay
Published: 30 June, 2026

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Singapore: Heng Tong Fuels & Shipping Pte Ltd to be wound up voluntarily

Nicholas James Gronow, director of the Singapore-based bunker tanker owner, filed a statutory declaration last year for the company, stating the firm cannot continue their businesses due to its liabilities.
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4 days ago

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June 29, 2026

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Several written resolutions for Singapore-based bunker tanker owner Heng Tong Fuels & Shipping Pte Ltd (HTFS) were approved by the sole shareholder of the company on 19 June, according to a post in the Government Gazette on Friday (26 June).

Manifold Times previously reported a director of HTFS filing a statutory declaration (SD) with the Official Receiver’s office stating that the company cannot continue its business due to its liabilities.

The company was reportedly affiliated with troubled Singapore bunker player Coastal Oil (Singapore) Pte Ltd. 

The duly passed resolutions were:

SPECIAL RESOLUTIONS:

  • 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).
  • 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).
  • That the Liquidators be and are hereby authorised to distribute in cash or in specie any or all of the assets of the Company remaining after satisfaction of all debts and liabilities.

ORDINARY RESOLUTIONS:

  • That Mr. Wong Pheng Cheong Martin and Ms. Koay May Yee, both care of FTI Consulting (Singapore) Pte. Ltd., One Raffles Quay #27-10 South Tower Singapore 048583 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.
  • 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.

In another notice, the liquidators of Heng Tong Fuels & Shipping said creditors for the company are required on or before the 27 July 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. 

Liquidators may also require creditors 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.”

The liquidators can be contacted at the following address:

WONG PHENG CHEONG MARTIN
KOAY MAY YEE
JOINT AND SEVERAL LIQUIDATORS
of FTI Consulting (Singapore) Pte. Ltd.
One Raffles Quay
#27-10 South Tower
Singapore 048583

Related: Singapore: Director declares Heng Tong Fuels & Shipping’s inability to continue business
Related: Heng Tong Fuels & Shipping in court over DBS Bank bunker tanker loan
Related: Singapore: Bunker tanker “Coastal Neptune” arrested
Related: Heng Tong Fuels & Shipping, Coastal Logistics tankers enter S&P market

 

Photo credit: Benjamin child
Published: 29 June, 2026

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