Sign up
Log in Sign up
Wed 28 Feb 2018 13:37

Brightoil delays release of fiscal H1 results


Bunker supplier also confirms that it will not be able to publish its interim report by March 31.

Illustration of a businessman analyzing documents.
Image: File image / Pixabay
Brightoil Petroleum (Holdings) Ltd confirmed on Wednesday that it will not be able to publish its interim results for the six months ended December 31 by February 28.

The bunker supplier explained that the publication of its results for the year ended June 30, 2017, was still pending and that, as a result, it would not be able to release its financials for the first half (H1) of the fiscal year either.

Additionally, the interim report for the six months ended December 31 will not be released by March 31, Brightoil said.

As Bunker Index previously reported, trading in shares of Brightoil was halted on October 3, with the company requesting a suspension until the publication of its annual financial results, which were due to be released by September 30 under listing rules.

Brightoil said in December that work being carried out by an independent adviser to review previous transactions by the company had not yet been completed, and, as a consequence, it had not released its financial results for the year ended June 30, 2017.

The company received a letter from the Stock Exchange of Hong Kong (SEHK) at the end of last year which listed a number of conditions for the resumption of trading in shares of Brightoil to take place.

Trading in shares of the Hong Kong-listed firm remains suspended.

Product tanker Artizen, owned by Hong Lam Marine. Hong Lam Marine takes delivery of Artizen tanker in Japan  

Singapore-based firm receives new vessel from Kegoya Shipyard.
Birdseye view of containership. Panama Canal launches NetZero Slot to incentivize low-emission transits  

New reservation category prioritizes dual-fuel vessels capable of using alternative fuels from November.
Van Oord's Vox Apolonia. Van Oord deploys bio-LNG dredger for Dutch coastal project  

First bio-LNG-powered trailing suction hopper dredger operation begins in the Netherlands.
Model testing for Green Handy methanol-powered vessel. Methanol-fuelled Green Handy ships pass model tests ahead of 2026 construction  

Baltic carrier reports model testing exceeded performance targets for 17,000 dwt methanol-powered vessels.
Miguel Hernandez and Olivier Icyk at AiP for FPSO. SBM Offshore's floating ammonia production design gets ABS approval  

Design converts offshore gas to ammonia while capturing CO2 for maritime and power sectors.
Philippe Berterottière and Matthieu de Tugny. GTT unveils cubic LNG fuel tank design for boxships with BV approval  

New GTT CUBIQ design claims to reduce construction time and boost cargo capacity.
Wilhelmshaven Express, Hapag-Lloyd. Hapag-Lloyd secures multi-year liquefied biomethane supply deal with Shell  

Agreement supports container line's decarbonisation strategy and net-zero fleet operations target by 2045.
Dual-fuel ship. Dual-fuel vessels will dominate next decade, says Columbia Group  

Ship manager predicts LNG-powered vessels will bridge gap until zero-carbon alternatives emerge.
Stril Poseidon vessel. VPS campaign claims 12,000 tonnes of CO2 savings across 300 vessels  

Three-month efficiency drive involved 12 shipping companies testing operational strategies through software platform.
Birdseye view of a ship. Gard warns of widespread cat fines surge in marine fuel  

Insurer reports elevated contamination levels, echoing VPS circular in early September.




 Recommended