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Vietnam: Coast Guard investigates illegally converted fishing boat over 100,000 litres of DO

To date, Reconnaissance Task Force 2 has arrested four out of four converted fishing boats transporting large quantities of DO oil without proof of legal origin.

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The Reconnaissance Task Force 2 of Vietnam Coast Guard on Friday (16 April) found a fishing boat which has been illegally converted to carry oil at about 15 nautical miles from the southwestern island of Tho Chu/Kien Giang.

Four crew of the vessel KG 95697 TS was transporting over 100,000 liters of DO oil without invoices, documents or proof of legal origin, according to a statement from the Captain, said the Vietnam Coast Guard.

The vessel was escorted to Hai Doi 401 port and handed over to Coast Guard Region 4 for further investigation and handling.

To date, Reconnaissance Task Force 2 has arrested four out of four converted fishing boats transporting large quantities of DO oil without proof of legal origin, notes the Coast Guard.

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Photo credit: Vietnam Coast Guard

A series of earlier Vietnamese Coast Guard arrests covered by Manifold Times in 2021 are as follows: 

Related: Vietnam: Coast Guard detains modified fishing boat with 100,000 litres of DO
Related: Vietnam: Coast Guards report rise in vessels selling illegal diesel oil in southern region
Related: Vietnam: Coast Guards detain vessel carrying 40,000 litres of undocumented diesel oil
Related: Vietnam Coast Guard detains modified fishing boat with 100,000 litres of DO
Related: Vietnam: Coast Guards detain Hong Minh Petroleum vessel carrying illegal DO
Related: Vietnam: Coast Guards detain unnumbered tanker carrying 45,000 litres of illegal DO
Related: Vietnam: Coast Guards detain modified fishing vessel carrying 50,000 litres of illegal DO
Related: Vietnam: Coast Guards detain repeat offender carrying 140,000 litres of illegal DO

Additionally, earlier Vietnamese Coast Guard arrests covered by Manifold Times before 2021 can be found below at the link here.

 

Photo credit: Vietnam Coast Guard
Published: 19 April, 2021

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Legal

Singapore police seizes local tugboat and SGD 8,200 cash, arrests 15 men over illegal MGO transaction

Preliminary investigations revealed crew misappropriated MGO without their company’s knowledge by selling it to members of a foreign-registered tugboat.

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15 MEN ARRESTED FOR ILLEGAL TRANSACTION OF MARINE GAS OIL

The Singapore Police recently arrested 15 men, aged between 26 and 56 years old, for their suspected involvement in an illegal transaction of marine gas oil (MGO).

On 1 March 2024, officers from the Police Coast Guard arrested eight crew members of a Singapore-registered tugboat and another seven crew members of a foreign-registered tugboat for their suspected involvement in illegal transaction of MGO at the sea off Tuas, Singapore.

Preliminary investigations revealed that the crew members of the Singapore- registered tugboat were believed to have misappropriated the MGO without their company’s knowledge by selling it to the crew members of a foreign-registered tugboat. The tugboat and cash amounting to SGD 8,200 were seized as case exhibits.

The eight crew members of the Singapore-registered tugboat will be charged in court with criminal breach of trust by employees and the seven crew members of the foreign-registered tugboat will be charged in court with dishonestly receiving stolen property on 2 March 2024.

If convicted for criminal breach of trust by employees under Section 408 of the Penal Code 1871, they shall be punished with an imprisonment term, which may extend to 15 years and shall be liable to a fine.

If convicted for dishonestly receiving stolen property under Section 411 (1) of the Penal Code 1871, they shall be punished with an imprisonment term that may extend to five years, or with fine, or with both.

“The Police takes a serious view of illegal transaction of MGO in Singapore waters,” it said.

“The authorities will continue to conduct enforcement and security checks to prevent, deter and detect such illicit activities in Singapore waters.”

 

Photo credit: Singapore Police Force
Published: 4 March 2024

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Winding up

Singapore: WWL Shipowning Singapore Pte Ltd to be wound up voluntarily

Creditors are required on or before 1 April 2024 to send in their names and addresses and particulars of their debts or claims to appointed liquidators, according to Government Gazette notices.

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RESIZED Drew Beamer

Several notices were published to inform the passing of several resolutions for WWL Shipowning Singapore Pte Ltd on 28 February, according to a notice released on Friday (1 March) posted on the Government Gazette.

The resolutions set out below were duly passed:

Special Resolutions:

  • That the Company be wound up voluntarily pursuant to Section 160(1)(b) of the Insolvency, Restructuring and Dissolution Act 2018 (Act 40 of 2018).
  • That the Liquidator be and is hereby authorised to exercise any or all of the powers given to the Liquidator by Section 144(1)(b), (c), (d), (e), (f) and (g) of the Insolvency, Restructuring and Dissolution Act 2018 (Act 40 of 2018).
  • That in accordance with the provisions of the Company’s Constitutions, the Liquidator be and is hereby authorised to distribute in specie all or any part of the assets of the Company remaining after satisfaction of all debts and liabilities.

Ordinary Resolutions:

  • That Mr. Lai Seng Kwoon c/o 7500A Beach Road #05-303/304 The Plaza, Singapore 199591, be and is hereby appointed Liquidator of the Company, for the purpose of such winding up.
  • That the remuneration of the Liquidator be based on his normal scale rates for carrying out the assignment and that the Liquidator’s fees and disbursements be paid out of the assets of the Company.

In another notice, the liquidator said creditors are required on or before 1 April 2024 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 liquidator.

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 liquidator for the liquidation can be contacted at the following address:

Lai Seng Kwoon
Liquidator
c/o 7500A Beach Road #05-303/304
The Plaza, Singapore 199591

 

Photo credit: Drew Beamer
Published: 4 March, 2024

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Bunker Claim

Large Danish investors led by pension funds prepare to settle in OW Bunker case

Pension funds ATP, PFA and 22 other institutional investors are willing to settle claims against Carnegie, Morgan Stanley, Altor, OW Bunker company and former management and board of directors, reports ShippingWatch.

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Several large Danish investors led by pension funds are prepared to settle with the possibility of a year-long legal battle after the crash of OW Bunker, according to ShippingWatch on Wednesday (28 February).

Eventhough the settlement is not yet signed and in place, ShippingWatch has been given access to the settlement text dated January 25, 2024 and a draft press release.

According to the text, pension funds ATP, PFA and 22 other institutional investors are willing to settle the claims against the banks Carnegie, Morgan Stanley, the private equity fund Altor, the OW Bunker company and the former management and board of directors with a total amount of DKK 665 million (USD 96,697,729.80).

This includes costs related to the case, according to the draft press release.

The pension funds had sued the parties with allegations of an erroneous and misleading prospectus.

The settlement amount will be significantly lower than the original claim from the pension funds.

In two lawsuits in 2016 and 2017, they claimed a total of DKK 833 million in compensation for the losses that the investors suffered when OW Bunker was listed on the stock exchange in 2014 by its owner, the private equity fund Altor.

In reality, the DKK 833 million, including interest, would have grown to more than DKK 1.3bn after the first six years after the summons, ShippingWatch has previously reported.

Related: Malaysia: Update on ING Bank, O.W. Bunker legal suit against bunkering firm TMD
Related: O.W. Bunker USA and affiliate O.W. Bunker North America reaches USD 23.5 million settlement with creditors

 

Photo credit: Pepi Stojanovski from Unsplash
Published: 4 March, 2024

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