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Xihe Holdings liquidators request scheme creditors to submit proof of debt

Deadline to submit a proof of debt for parties claiming to be creditors of the company is scheduled to take place on 31 December 2021 before 5:00 pm.

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The deadline to submit a proof of debt (POD) for parties claiming to be creditors of Xihe Holdings (Pte) Ltd (Judicial Managers Appointed) is scheduled to take place on 31 December before 5:00 pm, according to a Wednesday (8 December) notice posted on the Government Gazette.

The copies of the Scheme Document have been sent:

  • by registered post as is appropriate to the scheme creditors for whom the company has an address, which address the Company understands to be the last known address of that scheme creditor; and/or 
  • by electronic mail to the scheme creditor for whom the company has an email address, which email address the company understands to be last known email address of that scheme creditor or any director, employee, agent or representative of that scheme creditor; save that, where there are potential restrictions on sending the scheme document to any overseas jurisdiction, the company shall not send the scheme document to the scheme creditors in such overseas jurisdiction.

The company is requesting scheme creditors to begin submitting their proofs of debt, together with all supporting documents (including but not limited to contracts, invoices, purchase orders, delivery notes etc.). In the circumstances, insofar as claims are made for interest or other such amounts, please submit the calculations and/or any supporting documents which were used to derive the amounts payable.

Additional copies of the scheme document may be obtained by the scheme creditors writing in to [email protected] before collection from the office of the company at 8 Marina View Asia Square Tower 1, #40-04/05 Singapore 018960 during normal business hours on any day (other than a Saturday, Sunday or public holiday) prior to the day appointed for the POD Deadline.

A Scheme Creditor in an overseas jurisdiction may also write to the company at Specified Email Address or Specified Address to request for the Scheme Document to be sent to an address by ordinary post, or via email specified by the Overseas Scheme Creditor, up to seven days prior to the POD Deadline at such Scheme Creditors’ own risk.

If creditors have already submitted their proof of debt, they do not need to do so again, unless they wish to revise it. For the avoidance of doubt, the revised Proof of Debt must be received by the Judicial Managers.

Subject to the adjudication of the claim(s), the Judicial Managers will use the Proof of Debt submitted for the purpose of participating and voting on the Scheme.

Any Scheme Creditor who fails to submit a duly completed Proof of Debt within the period prescribed in the notice will not be allowed to vote (whether in person or by proxy) on the scheme and will not be entitled to any distribution, payments or benefits under the scheme (unless so admitted at the discretion of the Chairman / Scheme Manager) but shall, nonetheless, be bound by the terms of the scheme in the event it becomes effective, and shall have its claim compromised or waived under the terms of the scheme.

Scheme creditors are requested to provide written irrevocable consent to the Scheme on 20 January 2022 at 5:00 pm.

The company will give notice of application for sanction of the Scheme (if the requisite majorities of Scheme Creditors approve the Scheme) and will provide further instructions regarding other information and documents required in connection with the scheme.

 

Photo credit: Drew Beamer
Published: 9 December, 2021

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Newbuilding

Singapore: EPS orders ammonia, LNG dual-fuel vessels from China

EPS signed one contract for a series of ammonia dual-fuel bulk carriers with CSSC Beihai Shipbuilding and another for a series of LNG dual-fuel oil tankers with CSSC Guangzhou Shipbuilding International.

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Singapore-based Eastern Pacific Shipping (EPS) on Wednesday (28 February) said it signed two new contract orders in a signing ceremony in Shanghai, one for a series of ammonia dual-fuel bulk carriers with CSSC Beihai Shipbuilding and another for a series of LNG dual-fuel oil tankers with CSSC Guangzhou Shipbuilding International. 

The contracts signed cover four 210,000 dwt ammonia dual-fuel bulk carriers and two 111,000 dwt LNG dual-fuel LR2 oil tankers, expanding our fleet of green vessels on water. 

“These are pivotal for EPS, testament to our continued commitment towards the decarbonisation of shipping,” EPS said in a social media post.

Manifold Times recently reported EPS signing a contract for its first ever wind-assisted propulsion system, partnering with bound4blue to install three 22-metre eSAILs® onboard the Pacific Sentinel

The turnkey ‘suction sail’ technology, which drags air across an aerodynamic surface to generate exceptional propulsive efficiency, will be fitted later this year, helping the 183-metre, 50,000 DWT oil and chemical tanker reduce overall energy consumption by approximately 10%, depending on vessel routing.

Related: Singapore: EPS orders its first wind-assisted propulsion system for tanker

 

Photo credit: Eastern Pacific Shipping
Published: 1 March 2024

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LNG Bunkering

Malaysia: Port of Tanjung Pelepas completes first LNG bunkering operation

Landmark event involved the CMA CGM Monaco, a 14,024 TEUs containership operated by French shipping giant CMA CGM.

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Port of Tanjung Pelepas Sdn Bhd (PTP), a joint venture between MMC Group and APM Terminals, on Wednesday (28 February) announced a significant milestone with the successful completion of its first Liquefied Natural Gas (LNG) bunkering operation. 

The landmark event involved the CMA CGM Monaco, a 14,024 TEUs (Twenty-foot Equivalent Units) capacity containership operated by French shipping giant, CMA CGM.

Tan Sri Che Khalib Mohamad Noh, Chairman of PTP in a statement remarked this latest milestone demonstrates PTP’s commitment to continuously enhance its competitive advantages in an increasingly competitive global market.

“The successful completion of our first LNG bunkering operation also underscores our unwavering commitment to sustainability and environmental leadership. We are proud to partner with Petronas Trading Corporation Sendirian Berhad (PETCO) and CMA CGM on this initiative and showcase PTP’s capabilities as a leading facilitator of clean and efficient maritime operations.”

“This milestone paves the way for further growth in LNG bunkering at PTP, contributing significantly to the decarbonisation of the maritime industry.”

Commenting on this achievement, Mark Hardiman, Chief Executive Officer of PTP stated this latest milestone further highlights PTP’s position as the largest transshipment hub terminal in Malaysia.

“In preparation for the LNG bunkering operation, PTP worked closely since March 2022 with PETCO and CMA CGM, as well as with various other related government agencies to organise table-top exercises (TTX) and workshops, before carrying out the deployment exercise.”

“The success of the bunkering operation is a result of the seamless collaboration and preparations involving rigorous safety procedures through in-depth operational and risk assessments, modelling, and validation. We thank PETCO, CMA CGM all other involved parties for their joint efforts in operationalising the bunkering capability and we welcome partners to work with us to accelerate maritime decarbonisation,” said Hardiman.

Port of Tanjung Pelepas (PTP) is Malaysia’s largest transshipment hub with the capacity to handle 13 million TEUs annually. The port delivers reliable, efficient, and advanced services to major shipping lines and box operators, providing shippers in Malaysia and abroad with extensive connectivity to the global market. PTP is currently ranked 15th among the world top container ports.

 

Photo credit: Port of Tanjung Pelepas
Published: 1 March 2024

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Alternative Fuels

Wallenius Wilhelmsen to order four additional methanol DF PCTCs

Newbuilds will also be ammonia-ready and able to be converted as soon as ammonia becomes available in a safe and secure way.

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Wallenius Wilhelmsen PCTC order

Roll-on/roll-off (Ro-Ro) shipping company Wallenius Wilhelmsen on Tuesday (27 February) declared options to build four additional next-generation Shaper Class pure car and truck carrier (PCTC) vessels.

The 9,300 CEU methanol dual fuel vessels can utilise alternative fuel sources, such as methanol, upon delivery. They will also be ammonia-ready and able to be converted as soon as ammonia becomes available in a safe and secure way.

“Together with our customers we are committed to further shaping our industry and accelerating towards net zero. These new vessels are a vital part of that journey,” says Xavier Leroi, EVP & COO Shipping Services.

This latest commitment brings the total number of Shaper Class vessels currently on order with Jinling Shipyard (Jiangsu) to eight. Wallenius Wilhelmsen also retains further options.

The first of the Shaper Class vessels already ordered are expected to be delivered in the second half of 2026. The four additional vessels under the declared options will be delivered between May and November 2027.

 

Photo credit: Wallenius Wilhelmsen
Published: 1 March 2024

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