NewOcean Energy to Be Wound Up

by Ship & Bunker News Team
Friday August 5, 2022

Bunker supplier NewOcean Energy is set to be wound up following a court order in Bermuda.

The firm was wound up by order of the Court of Appeal in Bermuda on July 26, the company said in an exchange filing this week.

Rod Sutton and Kenneth Fung of FTI Consulting and Edward Whittaker of R&H Services have been appointed as joint provisional liquidators of the company.

In an update on its status in June, the company said it had faced a 'catastrophic credit freeze' from the banking industry in 2020.

"As at the date of this announcement due to the outbreak of the Covid-19, the Group is unable to function properly and effectively," the company said in the June statement.