Asia/Pacific News
Heng Tong Fuels & Shipping Enters Voluntary Liquidation in Singapore
Singapore’s bunker tanker firm Heng Tong Fuels & Shipping Pte has entered members' voluntary liquidation after its sole shareholder approved a resolution to wind up the company.
The decision was disclosed in a notice published in Singapore's Government Gazette on Friday, which said the written resolutions were approved on June 19 under the Insolvency, Restructuring and Dissolution Act 2018.
The resolutions appoint Wong Pheng Cheong Martin and Koay May Yee of FTI Consulting as joint and several liquidators to oversee the winding-up process.
They are authorised to exercise the statutory powers available under the Act and distribute any remaining assets after all debts and liabilities have been settled.
The notice also states that the liquidators will be indemnified by the company against costs, charges, losses, expenses and liabilities incurred in carrying out their duties.
The filing, signed by director Mah Beng Weng, confirms that the company has commenced a members' voluntary liquidation, a process initiated by shareholders rather than creditors.
The company is an authorised bunkering service provider to ship brokers in Singapore, with a fleet of seven ships, according to the firm’s LinkedIn page.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 963.00 | 26.00 | 1351.50 | 10.50 |
| Rotterdam | 766.00 | 3.00 | 1446.00 | 11.50 |
| Houston | 817.00 | 11.50 | 1421.00 | 1.00 |
| Fujairah | 981.00 | 12.00 | 1768.50 | 17.50 |
| APAC Average | 1029.50 | 32.00 | 1478.50 | 13.50 |
| Global 20 Ports Average | 929.50 | 10.50 | 1565.00 | 13.00 |
| Global 4 Ports Average | 882.00 | 13.50 | 1496.50 | 9.50 |
| Global Average Bunker Price | 978.50 | 20.00 | 1616.50 | 18.50 |
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