The Singapore Supreme Court on Friday (19 June) sold the U.S. sanctioned Russian vessel Sevastopol to cover parking debts incurred by the vessel since 2019.
The proceeds of the sale amount to SGD 750,000 (USD 537,488) and the sum has been paid in Court on Friday (12 June).
Sevastopol was penalised in 2018 by the U.S. for reportedly violating economic sanctions imposed on North Korea and the vessel was also briefly held in South Korea in the same year.
The vessel was purportedly arrested in Singapore in December 2019 over parking debts incurred; and not for violating any trade sanctions.
Any person having a claim against Sevastopol or the proceeds of the sale, on which they intend to contest should accordingly do so within 90 days of the payment, said the Court.
Photo credit: Marine Traffic / V. Tonic
Published: 22 June, 2020
MPA, Ocean Network Express, Equatorial Marine Fuel Management Services, and Claritecs share their thoughts with SSA in the final session of SIBCON 2020.
‘It is no longer about mitigating emissions it is about eliminating them and eliminating them by 2050,’ states Chamber President John Denholm CBE.
MOL signed contract to construct four Capesize bulkers with CSSC Qingdao Beihai Shipbuilding Co., Ltd.; another deal with Kawasaki Heavy Industries Ltd. to build two VLCCs.
Following resolutions affecting both firms have been passed by written means on (23 August) pursuant to sections 184A to 184F of the companies act.
‘Clearly, collaboration is the fuel for the future,’ says Dr Shahrin Osman, Regional Head of Maritime Advisory, Director of Maritime Decarbonization and Autonomy Centre of Excellence Asia – Pacific at DNV.
Signs MOU with Chinese firm to establish a stable supply network of IMO 2020 compliant fuels outside China.
Captain Segar, MPA Assistant Chief Executive, Operations, to be also joining IBIA for the game where proceeds will be channelled into an IBIA Bursary Fund for supporting students to obtain a maritime studies degree.
‘Consort Bunkers will be operating the youngest bunkering fleet in Singapore after complete delivery of the ‘K’ series vessels by late-2023,’ Mr SK Yeo, Founder of Consort Bunkers, tells Manifold Times.
‘Vessel suffered inter alia damage to her engines as well as other losses and expenses, including but not limited to salvage costs, costs of repairs and time lost,’ states legal document obtained by Manifold Times.
‘It is undisputed that Sing Fuels furnished fuel in Port Elizabeth that enabled the M/V Lila Shanghai to continue on its way […] and it is undisputed that Sing Fuels was never paid for this fuel,’ states Judge.
JMs wanted to confirm if both of IPP’s former auditors ‘were reasonably assured that its assessment that the receivables owed by Mercuria Energy were not in any way doubtful’, according to court documents.
A Duraisamy received a SGD 42,870.60 fine and 10-month jail sentence while Lee Been Lian was fined SGD 6,795 and received a two-month jail term due to offences under the Prevention of Corruption Act.
