Business

SMW 2019: Claritecs receives S$50,000 in seed funding from MPA

MPA and NUS Enterprise issues total S$650,000 in seed funding for start-ups to develop and test-bed solutions.

Published

7 years ago

April 12, 2019

Admin

Singapore-based maritime solutions firm Claritecs will be receiving S$50,000 from the Maritime and Port Authority of Singapore (MPA) in seed funding to develop and test-bed its ‘BunkerMaestro’ solution.

“Claritecs was one of the youngest start-ups at the 2018 Smart Port Challenge, and we achieved a Top 3 win with ‘BunkerMaestro’, an algorithm-based platform to rejuvenate bunker scheduling operations, with datadriven insights for increased work efficiencies, scheduling clarity and fleet optimisation,” said Marianne Choo, Chief Marketing Officer of Claritecs.

“We will enter the test-bed phase from next month, with five bunker tanker operators who collectively manage one-third of Singapore’s bunker tanker fleet.

“We are very grateful to obtain S$50,000 in seed funding from MPA, as it will go a long way in helping us – a 16-month old company at pre-revenue stage – to sustain development of BunkerMaestro and its subsequent market roll-out.”

The company is among 12 other start-ups from the Smart Port Challenge (SPC) 2018 which will each receive S$50,000 in seed funding from MPA.

In addition to the seed funding, the start-ups were given the opportunity to pitch their solutions to venture capitalists at the inaugural Mixer and Pitch Session held as part of the Singapore Maritime Technology Conference (SMTC) 2019.

Jointly organised with Enterprise Singapore and NUS Enterprise, the session aims to strengthen the development of the maritime innovation ecosystem and open up opportunities in the maritime industry for start-ups and venture capitalists.

Among the venture capitalists who were at the Mixer & Pitch Session were EV Growth, Futurelabs Ventures, Green Meadows Accelerator, SG Innovate, and TNB Ventures.

“As the maritime industry is characterised by its heavily manual and largely paper-based processes, digitisation is the key to unlocking further innovation such as automation, data analytics, and optimisation,” said Vicknesh Pillay, Managing Partner of venture capitalist TNB Aura Fund.

“It is precisely due to the inefficiencies of traditional processes that we see massive opportunities ahead.”

To further support the maritime innovation ecosystem, PIER71 formed several partnerships to provide these 13 start-ups with a range of resources that will help them bring their technologies to market.

The partners include AdNovum which provides access to security technologies and consultancy service in cybersecurity; Singtel which provides access to its satellite network, Internet of Things (IoT) network and curated data; Marine Traffic which provides access to maritime traffic information; TerraWeather which provides access to weather information; and Panasonic R&D Centre Singapore which provides access to vision and wireless communication technologies.

“MPA and NUS Enterprise jointly launched PIER71 last year to spur digital adoption in the maritime industry,” said Professor Wong Poh Kam, Senior Director, NUS Entrepreneurship Centre, NUS Enterprise.

“One of the key highlights of PIER71 is the Smart Port Challenge, which brings together maritime corporates and technology start-ups. These technology start-ups have expertise in various technology areas, such as artificial intelligence, blockchain, Internet of Things and augmented reality.

“This encourages the adoption of latest technologies and emerging innovations for a more productive and competitive maritime sector in Singapore.”

Photo credit: Maritime and Port Authority of Singapore
Published: 12 April, 2019

Legal

Singapore withdraws remaining 127 charges against Hin Leong founder OK Lim

Lim Oon Kuin, also known as OK Lim, was issued a stern warning and a district court granted him a discharge amounting to an acquittal for these charges on 17 July.

Published

18 hours ago

July 21, 2026

Admin

Founder of collapsed oil trader Hin Leong Trading, Lim Oon Kuin, also known as OK Lim, has had the remaining 127 charges against him withdrawn, according to The Straits Times on Monday (20 July).

OK Lim was issued a stern warning and a district court granted him a discharge amounting to an acquittal for these charges, including those for cheating, on 17 July. The discharge means Lim cannot be prosecuted again for the same offences.

Lim, 84, is currently serving a 13½-year prison sentence after the High Court reduced his original 17½-year jail term in March 2026. He was convicted in 2024 on two cheating charges and one count of abetting forgery in a case prosecutors described as one of Singapore’s most serious trade finance frauds.

Lim was convicted in May 2024 of two charges of cheating the Hongkong and Shanghai Banking Corporation (HSBC) and one count of abetting forgery that proceeded to trial out of a total of 130 criminal charges.

He was first charged in court on 14 August 2020, and was subsequently handed further charges in court on 25 September 2020, 30 April 2021 and 24 June 2021 for his role in perpetuating fraud on various financial institutions.

A total of 130 charges were eventually brought against him for cheating and forgery-related offences.

Photo credit: Sora Shimazaki
Published: 21 July, 2026

Winding up

Singapore: Coastal Logistics Pte Ltd to be wound up voluntarily

Coastal Logistics was reportedly affiliated with troubled Singapore bunker player Coastal Oil (Singapore) Pte Ltd.

Published

18 hours ago

July 21, 2026

Admin

Several resolutions for Coastal Logistics Pte Ltd were made during an extraordinary general meeting held on 14 July, according to a notice in the Government Gazette on Friday (4 July).

The following resolutions were duly passed during the meeting:

As Special Resolution

That it has been proved to the satisfaction of the meeting that the Company cannot by reason of its liabilities continue its business and accordingly the Company be wound up voluntarily pursuant to Section 160(1)(b) of the Insolvency, Restructuring and Dissolution Act 2018 (No. 40 of 2018);

As Ordinary Resolutions

that Mr. Wong Pheng Cheong Martin and Ms. Koay May Yee, both care of FTI Consulting (Singapore) Pte Ltd, One Raffles Quay, #27-10 South Tower, Singapore 048583 be appointed as the joint and several Liquidators of the Company for the purpose of such winding up; and
that the Liquidators be at liberty to open, maintain and operate any bank account(s) or account(s) for monies received by them as Liquidators with such bank(s) as they deem fit; and
that a Committee of Inspection will not be formed.

Manifold Times previously reported Nicholas James Gronow, director of Heng Tong Fuels & Shipping and Coastal Logistics, filed statutory declarations for both companies stating the firms cannot continue their businesses due to liabilities.

Both companies were reportedly affiliated with troubled Singapore bunker player Coastal Oil (Singapore) Pte Ltd.

In 2019, several vessels owned by both firms entered the sale & purchase (S&P) market in Singapore.

Photo credit: Drew Beamer
Published: 21 July, 2026

LNG Bunkering

PIL’s LNG dual-fuel boxship “Kota Elok” arrives in Singapore on maiden call

As the first of 13 new 13,000 TEU vessels joining its fleet, Kota Elok is equipped to operate on LNG and low-sulphur fuel oil that helps reduce our greenhouse gas emissions.

Published

18 hours ago

July 21, 2026

Admin

PIL's LNG dual-fuel boxship “Kota Elok” arrives in Singapore on maiden call

Singapore-based Pacific International Lines Pte Ltd on Monday (20 July) said its first 13,000 TEU LNG dual-fuel container vessel, Kota Elok, recently made her maiden call to Singapore on 15 July.

As the first of 13 new 13,000 TEU vessels joining its fleet, Kota Elok is equipped to operate on liquefied natural gas (LNG) and low-sulphur fuel oil that helps reduce our greenhouse gas emissions.

The vessel also incorporated energy-saving features and digital technologies to reduce fuel consumption and enhance operational performance, as well as a bow windshield to improve aerodynamics, contributing to improved fuel efficiency and lower emissions over the course of long-haul voyages.

“Following Singapore, Kota Elok will continue her voyage on our East Coast Service 1 (ES1) route to South America, calling at ports in Brazil, Uruguay, and Argentina before returning to Asia,” the company said in a social media post.

Kota Elok also became PIL’s first vessel to receive Lloyd’s Register certification for compliance with the IACS UR E26 and UR E27 cyber security requirements.

Developed by the International Association of Classification Societies (IACS), UR E26 and UR E27 are mandatory cyber resilience requirements for newbuild vessels contracted from 1 July 2024.

Photo credit: Pacific International Lines
Published: 21 July, 2026