Intended dividend notices have been published for two companies linked to the collapse of Hin Leong Trading, according to Ship & Bunker. The notices cover former Singapore bunker supplier Ocean Bunkering Services and its sister company, Hin Leong Marine International.
According to Ship & Bunker, the notices were published in Singapore’s Government Gazette on Friday and set September 4 as the last date for creditors to submit proofs of their claims. The publication reports that Ocean Bunkering Services is undergoing creditors’ voluntary liquidation, while Hin Leong Marine International is being liquidated under a case before the High Court of Singapore.
Background on the Companies
Ocean Bunkering Services was once a major player in Singapore’s bunkering sector. Ship & Bunker notes that the company was ranked as the city-state’s third-largest bunker supplier by volume in 2019. However, it was removed from Singapore’s list of licensed bunker suppliers in 2021 following the wider collapse of Hin Leong Trading, a scandal that sent shockwaves through the region’s fuel trading industry.
According to Ship & Bunker, Leow Quek Shiong and Gary Loh Weng Fatt of BDO Advisory are serving as liquidators for both Ocean Bunkering Services and Hin Leong Marine International.
Does This Matter to You?
For parties with outstanding claims against either Ocean Bunkering Services or Hin Leong Marine International, the September 4 deadline is a critical date. Creditors who have not yet submitted proofs of their claims will need to act before this cutoff to be considered in the intended dividend distribution, as reported by Ship & Bunker.
The case also serves as a continuing reference point for the bunkering industry regarding counterparty risk and the long-tail consequences of major supplier collapses. Companies and traders that dealt with Hin Leong-linked entities may find this update relevant to ongoing claims processes, though the source material does not detail the size of the intended dividend or the number of creditors involved.
Gulf Bunkering does not provide operational or security guidance. This article is for informational purposes only. Operators should consult flag state authorities, P&I clubs, and relevant advisories for decisions relating to transit planning.
Sources: Ship & Bunker
