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Ocean Tankers' Supervisor to Start Restructuring Talks with Owners
EY, the court-appointed supervisor for Ocean Tankers Pte Ltd (OTPL), has proposed two restructuring options to the shipping company's owners and could meet with…
Ocean Tankers Placed Under Court-appointed Supervisor
Two EY executives in Singapore have been appointed interim judicial managers of Ocean Tankers, the accounting firm said on Tuesday, following a Singapore court hearing…
Mercuria Teams Up with Envysion for Project Investment
Trading house Mercuria and Singapore-based asset manager Envysion Wealth Management have agreed to co-invest in mining and energy projects, as default-hit banks tighten their purse strings and leave commodities firms seeking other funding.The deal, signed on Wednesday, will see Mercuria present potential projects for investment to Envysion, founded and led by former Julius Baer banker Veronica Shim.
PetroChina Tops Singapore's List of 2021 Bunker Fuel Suppliers
PetroChina International Singapore Pte Ltd climbed three spots to be the top marine fuel supplier in the world's biggest ship refueling hub in 2021 while the overall number of licensed suppliers fell by four to 41, official data showed on Monday.Shell Plc's Singapore bunkering unit, Shell Eastern Trading Pte Ltd, fell from the top ranking in 2020 to third, behind Singapore's Equatorial Marine Fuel Management Services Pte Ltd in second place…
OW Bunker Collapse Rattles Singapore Bunker Markets
Major oil companies, trade firms to expand market share; tight credit hits small retailers. The collapse of OW Bunker in the wake of an alleged fraud at its Singapore…
Singapore's Ocean Tankers tests IMO-2020 Compliant Fuel
Off the coast of Singapore, the world's largest ship refuelling centre, a bunker barge sidled next to the supertanker Pu Tuo San to fill the giant vessel with a new type of fuel that will meet global standards that start up in January.With a little over five months left until stricter marine fuel rules come into effect, shippers such as Singapore's Ocean Tankers that own the very large crude carrier…
Singapore's New Trade Data Sharing Platform Aims to Stem Fraud
A Singapore trade data sharing platform backed by banks, commodity houses and state firms has signed up 70 participants as part of the city-state's attempts to bolster confidence after a spate of commodity trade finance frauds in recent years.The Singapore Trade Data Exchange (SGTraDex), whose founders include banks DBS and Standard Chartered, commodity trader Trafigura and the local tech regulator…
Lim Family Seeks to Halt Law Firm from Taking Court Role
Members of Singapore’s Lim family have asked a court to stop law firm Rajah & Tann Singapore LLP (R&T) from working for court-appointed supervisors to two companies…
Jurong Port Buys Lim Family's Stake in Universal Terminal
Singapore port operator Jurong Port has completed its acquisition of a stake in a major oil storage terminal in the city-state from the family behind collapsed oil trader Hin Leong Trading Pte Ltd, a port spokesman said on Saturday.The spokesman said government-owned Jurong Port had completed the purchase of a 41% stake in Universal Terminal from the Lim family. He declined to give details on the transaction.A…
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