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International Enterprise News

28 Mar 2018

Vitol Stores Gasoline Aboard Ships off Singapore

Vitol seen storing gasoline off Singapore as local onshore light distillates stocks at record levels. European trader Vitol is storing gasoline on tankers offshore Singapore, Asia's biggest oil trading centre, for the first time since 2016 amid oversupply and weak demand for the fuel, said four people that participate in the market on Wednesday. The sources said that Vitol was seen storing gasoline aboard more than one so-called Long-Range (LR) tanker. The company does not typically comment on its trading operations. At least one of the vessels is the tanker Glory Crescent, a so-called LR-2 tanker, said one of the four sources. The vessel is 105,000 deadweight tonnes and could carry the equivalent of about 800,000 barrels of gasoline.

05 Jul 2017

Asia's Booming Diesel Market Draws Rare European Cargoes

Rare cargoes booked out of Europe to Asia, Middle East; Indian demand, refinery maintenance boost Asian prices. Oil traders are shipping diesel out of Europe to Asia and the Middle East where strong demand and tighter supplies have boosted prices, in a rare arbitrage that reverses traditional routes. At least three 90,000 tonne diesel cargoes were booked in recent days out of northwest Europe options to go to Singapore and the Middle East, shipping data showed. BP chartered the long-range Nan Lin Wan and Front Antares tankers for loading out of the Amsterdam-Rotterdam-Antwerp storage and refining hub in mid-July, the data showed. Vitol booked the 90…

15 Jun 2017

Pacific Radiance Gets USD 45.3mln in Vessel Deals

Singapore's Offshore support vessel (OSV)-focused Pacific Radiance said that it has won US$45.3 million of new contracts including options, which will add to its operating cash flow. Under these contracts, ten of the Group’s offshore support vessels, including a diving support vessel, are being deployed to support projects in Asia and the Middle East. They are chartered to new and existing clients to provide services which include towing, repair and maintenance, transportation and platform support. Pang Yoke Min, the Executive Chairman of Pacific Radiance, said: “These latest contract wins will improve the Group’s vessel utilisation and underscore our efforts to build a sustainable long term business.

09 Jan 2017

Andrew Garrad Awarded CBE in New Year’s Honours List

Dr Andrew Garrad, who retired from DNV GL on 23 December 2016, has been awarded a CBE – Commander of the Most Excellent Order of the British Empire – in the 2017 New Year’s Honours List. The CBE rewards contributions to the arts and sciences as well as work with charitable and welfare organisations. In 1984, Andrew co-founded Garrad Hassan (GH) in Bristol. It grew to become the world’s largest renewable energy consultancy, employing 1,000 people in 29 countries. He became President of GL Garrad Hassan after Germanischer Lloyd (GL) and Garrad Hassan merged in 2009. He ran the new company until 2012, when he became Chairman. After the merger of DNV and GL, Andrew became a member of the DNV GL – Energy Supervisory Board on the invitation of former Group President and CEO, Henrik Madsen.

21 Sep 2015

Singapore's Record Fuel Stocks Move to Floating Storage

Record high stocks of fuel oil in Singapore are pushing traders to store the shipping and feedstock fuel into tankers temporarily as demand slows regionally. At least seven very large crude carriers (VLCCs) have been provisionally fixed to store fuel oil on short-term time charters, traders and shipbrokers said. Lower oil prices have boosted refinery profits over most of this year, in turn driving refiners to maximise run rates and increase the supply of fuel oil in the region, traders said. Traders are also taking advantage of cheaper freight rates and a steep contango where prices of cargoes loading in the current month are cheaper than those loading in forward months.

27 Apr 2014

Drydocks World Win Europe's 2014 Socrates Award

Drydocks World (DDW) informs it has been recognized with the “Best International Enterprise” award at the 2014 Socrates Awards. In addition His Excellency Khamis Juma Buamim, Chairman of Drydocks World & Maritime World was named “Best Manager of the Year” at the same award ceremony organized and presented by the International Socrates Committee of the Europe Business Assembly. The Awards were presented at a gala ceremony, 'Achievements – 2014', held at the Institute of Directors UK. In attendance were Sheikh Mohammed bin Maktoum bin Rashid Al Maktoum, First Secretary of the Embassy of the United Arab Emirates to London together with prominent international leaders from a number of fields.

21 Feb 2013

HSL Set to Increase Productivity

The young Singapore marine and offshore engineering industry will soon get another boost of its market share and dominance in the region with HSL Constructor Pte Ltd’s (HSL) latest addition to its fleet of marine vessels. The local marine civil engineering company has launched a new SGD 10 million piling barge - deemed to be Southeast Asia’s largest and the most technologically advanced - specifically to meet HSL’s core competency needs and to increase productivity levels, thus providing HSL with the competitive advantage to gain larger projects and expand its regional operations.

23 Sep 2009

Wilhelmsen Ships Service Assists Wind Farm

Photo courtesy ClearLine Communications Ltd.

Wilhelmsen Ships Service has been awarded a contract to handle all the ships agency calls for the main contractor to the Belwind Project, one of the largest new green energy projects in the world. Wilhelmsen Ships Service Belgium has signed an agency agreement with Van Oord Belgie to act as full agent in the port of Zeebrugge for their port calls during the Belwind Project. The Dutch contractor Van Oord Dredging and Marine Contractors have been awarded the contract for the engineering, procurement and construction of the first part of the Belwind offshore wind farm project.

11 Jun 2003

New Directors Named at NOL

Neptune Orient Lines (NOL) has appointed Ang Kong Hua and Willie Cheng Jue Hiang, to the Board of Directors, and confirmed Ron Widdows as CEO of its container transportation unit, APL. Ang Kong Hua becomes a Vice Chairman of the Board, joining Dr Friedbert Malt in this role, and will sit on both the Board’s Executive Committee and Nominating Committee. Willie Cheng Jue Hiang will serve on the Audit Committee in addition to his responsibilities as a member of the full Board. NOL Group Chairman Cheng Wai Keung said both Ang Kong Hua and Mr Willie Cheng offered a valuable breadth of skills and management experience in the global business arena. Mr Ang Kong Hua is President of NatSteel, a listed Singapore-based manufacturing group.