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Aegean: Bankruptcy Court approves disclosure statement, procedures

Provides 5 March deadline for sending notices to contract and lease counterparties, show court document.

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The United States Bankruptcy Court Southern District of New York on Friday (15 February) provided approval for several administrative procedures related to the restructuring plan of New York listed bunkering firm Aegean Marine Petroleum Network Inc. (Aegean).

It approved the adequacy of information shared to counterparties in Aegean’s disclosure statement, solicitation and notice procedures to the holders of claims and interests, and related forms of ballots and notices for granting relief.

“The Disclosure Statement (including all applicable exhibits thereto) provides Holders of Claims and Interests and other parties in interest with sufficient notice of the injunction, exculpation, and release provisions contained in Article IX of the Plan, [are] in satisfaction of the requirements of Bankruptcy Rule 3016(c),” it stated in the document seen by Manifold Times.

“The forms of Ballots, Non-Voting Status Notice, and Confirmation Hearing Notice, including the mechanism set forth therein for opting into the Third Party Release contained in Article IX of the Plan, are hereby approved.”

A timeline (subject to modification as necessary) for counterparties to submit votes on Aegean’s chapter 11 reorganisation plan are as follows:
 

Event Date
Voting Record Date February 12, 2019
Solicitation Launch February 19, 2019
Deadline for Sending Notices to
Contract and Lease Counterparties
March 5, 2019
Deadline for objections to claims for
voting purposes
March 8, 2019
Deadline for submission of motions
seeking temporary allowance of claims
for voting purposes under Rule 3018
March 18, 2019 at 4:00 p.m. prevailing Eastern time
Deadline for objections to assumptions
of executory contracts and/or
objections to proposed “cure” amounts
March 19, 2019 at 4:00 p.m. prevailing Eastern time
Confirmation Objection Deadline March 19, 2019, at 4:00 p.m. prevailing Eastern time
Voting Deadline March 19, 2019, at 4:00 p.m. prevailing Eastern time
Confirmation Hearing Date March 26, 2019, at 2:00 p.m. prevailing Eastern time

A timeline organised list of events preceding the current development have been recorded by Manifold Times below:

Related: Aegean: ‘Significant milestones’ achieved in restructuring progress
RelatedAegean Chapter 11: Judge authorises restructuring activity to start
RelatedAegean Chapter 11: Mercuria counters Oaktree/Hartree proposal plan
RelatedAegean Chapter 11: Bondholders object Mercuria’s $532 million DIP Facility
RelatedAegean Chapter 11: Creditor list shows exposure of 30 parties
RelatedAegean files for Chapter 11, Mercuria to be ‘stalking horse bidder’
RelatedAegean auditors alleges up to $300 million ‘misappropriated’
RelatedAegean: Forensic auditors target investigations on four companies
RelatedPresident of Aegean to leave, effective November 15
RelatedRumours: Alleged changes at Aegean’s management
RelatedMercuria starts ‘sole lender’ arrangement with Aegean
RelatedAegean establishes new management committee
RelatedMercuria bails Aegean out with $1 billion credit
RelatedOcean Intelligence comments on Aegean credit downgrade
RelatedAegean shares down 71%, to face legal investigations
RelatedAegean audit uncovers $200 million account discrepancy
RelatedAegean unfolds several business developments
RelatedAegean drops founder, elects new board members
RelatedAegean requests for ‘additional time’ to file annual report
RelatedAegean welcomes new Chief Financial Officer
RelatedLawsuit filed against Aegean’s H.E.C. acquisition
RelatedAegean to offer ‘one-stop-shop solution’ with H.E.C. acquisition
RelatedAegean in $367 million acquisition of port reception facilities services group
RelatedAegean shareholders ‘gravely concerned’ over board’s silence
RelatedShareholders nominate ‘highly qualified’ candidates to Aegean board
RelatedAegean Marine Petroleum Network under shareholder pressure

Published: 18 February, 2019
 

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Business

IBT Bunkering & Trading appoints Kevin Döhmen to lead Singapore expansion

Döhmen will lead the new Singapore office, with responsibility for managing and developing the operation and strengthening relationships with customers and partners.

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IBT Bunkering & Trading appoints Kevin Döhmen to lead Singapore expansion

Hamburg-based marine fuels firm IBT Bunkering & Trading on Wednesday (12 August) said it has appointed Kevin Döhmen as Executive Vice President to lead the company’s new Singapore office. 

Manifold Times previously reported the company announcing that it is opening its doors in Singapore and will be running a trading desk in the city-state after trading bunkers out of Hamburg since 1976.

The company said Kevin Döhmen will lead the new Singapore office, with theresponsibility for managing and developing the operation and strengthening relationships with customers and partners.

IBT said the Singapore office represents an important first step in strengthening its presence in Asia.

“At the same time, we are actively exploring further opportunities to expand our activities and establish new partnerships in this key maritime hub,” the company said. 

Döhmen said: “Singapore is the heartbeat of global bunkering. Bringing IBT’s Hamburg roots — 50 years of them — onto the ground in this hub is a real privilege, and I couldn’t be more ready for it.”

IBT said it will maintain the service approach established through its Hamburg operations while building its activities in Singapore.

The company described the move as bringing together its Hamburg roots and Singapore presence through a global bunker network. 

Related: German firm IBT Bunkering & Trading establishes Singapore presence, adds second trading desk

 

Photo credit: IBT Bunkering & Trading
Published: 13 August, 2026

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Bunker Alerts

Low flashpoint found in Indonesia bunker fuels, alerts Maritec-Naias

Firm tested eight bunker samples representing LSMDO and B40 fuel grade from vessels that took fuel oil /bunkered in Indonesia ports, which indicated flashpoints as low as 39.5°C.

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RESIZED Shaah Shahidh on Unsplash

Bunker fuel testing and marine surveying business Maritec-Naias on Wednesday (12 August) issued an alert regarding bunker samples from vessels that took fuel oil/bunkered in Indonesia showing flashpoints as low as 39.5°C:

During the period of 21 July to 04 August 2026, Maritec-Naias tested eight bunker samples representing Low Sulfur Marine Distillate Oil (LSMDO) and B40 fuel grade from vessels that took fuel oil /bunkered in Indonesia ports, which indicated Flashpoints as low as 39.5°C.

All eight fuel samples tested were sourced from a single supplier.

Regulatory Implications:

Based on the results of the eight samples tested, the fuels do not comply with the minimum flashpoint requirement of 60 °C set by SOLAS and ISO 8217.

As per SOLAS requirements, the minimum flashpoint of any fuel carried in the tanks of a ship should be not less than 60 °C (with exception of fuel for lifeboats, which can be grade DMX with a flash point min of 43 °C).

ISO 4259 interpretation for tested flashpoint temperature is not taken into consideration here as the safety of onboard crew and vessel is of higher precedence.

Since 01 May 2024, it has been a MARPOL Annex VI requirement that the Bunker Delivery Note (BDN) includes either the actual flashpoint of a fuel as supplied or a declaration that its flashpoint has been determined as being at or above 70°C.

From 1 January 2026, SOLAS amendments clarified that the flashpoint requirement applies to fuels, which were specifically intended to have a flashpoint not less than 60°C as required under SOLAS II‑2/2.1.1 These amendments now align with MARPOL by requiring flashpoint details to be recorded on the BDN. Additionally, prior to bunkering, suppliers must provide the ship’s representative with a signed declaration confirming that the fuel meets the SOLAS flashpoint standard.

MARITEC-NAIAS RECOMMENDATIONS

When ordering fuels from Indonesia it is advised to insist on getting the actual flash point values from the supplier. If your vessel has bunkered a low flashpoint fuel it is prudent to observe/implement the precautions below:

  • Flame screens on tank vents should be maintained in good condition and there should be no sources of ignition in the vicinity of the vents. This will assist in safe natural ventilation of volatile components in the fuel.
  • No Smoking, no naked flame and no hot work must be allowed at any areas near to tank air vents.
  • Send additional tank(s) samples upon arrival in port to check the fuel properties and flash point results especially if there has been co-mingling of fuels in bunker tanks
  • If the vessel is out at sea, it may be possible to obtain dispensation from your Flag State Administration up to the next arrival port.
  • Put the supplier on notice promptly and notify your P&I club.

 

Photo credit: Shaah Shahidh on Unsplash
Published: 13 August, 2026

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Methanol

China: Xiamen issues safety guidelines for methanol bunkering operations

New guidelines establish safety requirements across the full methanol bunkering process, supporting the expansion of green marine fuel supplies at Xiamen Port.

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Xiamen, China

Xiamen Free Trade Zone on Monday (10 August) said its Administrative Committee recently jointly issued the Safety Guidelines for Marine Methanol Fuel Bunkering in Xiamen Waters with Xiamen Port Authority and Xiamen Maritime Safety Administration, establishing a framework for methanol bunkering operations in the port.

The guidelines are the first safety operating standard in Fujian province specifically covering marine methanol fuel bunkering. They apply to methanol bunkering operations conducted by bunker vessels in Xiamen waters and set out safety requirements covering the entire operation, from preparation through completion.

The guidelines specify requirements for bunkering companies, equipment and materials used on bunker vessels, hose inspection intervals, personnel certification and personal protective equipment.

They also require operators to conduct dedicated risk assessments and prepare emergency response plans before operations begin. During bunkering, operators must maintain continuous monitoring and comply with specified weather restrictions. After completion, pipelines must undergo procedures including purging and inerting.

Xiamen Port has previously carried out ship-to-ship bunkering of biofuels and LNG. The new guidelines provide a regulatory framework and operational basis for methanol bunkering and are intended to support the safe and orderly conduct of such operations.

The move is also expected to help Xiamen Port expand its market and bunkering capacity for green marine fuels. 

 

Photo credit: Woo Winter on Unsplash
Published: 13 August, 2026

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