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Hua An News

12 Feb 2024

Altera Hires DOF to Install Voyageur Spirit FPSO Offshore Ivory Coast

Voyageur Spirit FPSO (Credit: Kishorn Port & Drydock)

Altera Infrastructure has hired DOF to install Voyageur Spirit floating production, storage and offloading (FPSO) unit as well as one floating storage unit (FSO) at Eni-operated Baleine oil field offshore Ivory Coast.The project includes the complete installation of seabed mooring systems, flowline between the FSO – a converted shuttle tanker Nordic Brasilia - and the Voyageur Spirit FPSO, along with their associated equipment.The contract for the redeployment of the FPSO and the FSO was secured by Altera back in October 2023.Voyageur Spirit is a cylindrical-shaped FPSO…

20 Dec 2023

Asia Break Bulk and CSL Shipping Partner on Vessel Operation

Source: COLI Group

COLI Group’s subsidiary Asia Break Bulk (Singapore) has entered a strategic partnership with CSL Shipping (China) to market CSL’s multi-purpose carrier Jian Yang Hua Qing.The vessel has 2 x 250mt cranes for loading breakbulk, heavy lift and project cargo and is already active for both companies.Felix Peinemann, Managing Director of the COLI Group, said the partnership will expand our footprint in the multi-purpose (MPP) market. “COLI is steadily expanding its activities to offer clients more sailing possibilities and increase its footprint in the Chinese market.

27 Jul 2023

Keppel Profit Soars on One-off Gain from O&M Unit Sale

© Punkbarby / Adobe Stock

Singapore's Keppel Corp KPLM.SI on Thursday reported a more than seven-fold jump in its first-half profit boosted by a one-off gain from the sale of its offshore and marine (O&M) unit and strong performance from the infrastructure business.Keppel sold its offshore and marine business in February for S$4.50 billion ($3.40 billion) to Sembcorp Marine, recognising a gain of S$3.3 billion, as it aims to transform into an asset manager overseeing $150 billion by 2030 and focus on green energy.It managed S$53.2 billion in funds as of June 30.In May…

16 Jan 2023

Singapore's Top Bunker Suppliers of 2022

© Igor Groshev / Adobe Stock

Equatorial Marine Fuel Management Services Pte Ltd rose one spot to become the top marine fuel supplier at world's largest bunkering hub Singapore in 2022, official data showed on Monday.Equatorial overtook PetroChina International Singapore Pte Ltd, who dipped from its top ranking in 2021 to second spot in 2022, while Trafigura's TFG Marine Pte Ltd climbed two spots to become third-largest supplier, data from the Maritime and Port Authority (MPA) of Singapore showed.Vitol Bunkers Pte Ltd maintained fourth in 2022 as with the previous year, while Shell Plc's Singapore bunkering unit, Shell Eas

28 Jul 2022

Keppel Posts 66% Jump in First-half Profit

(File photo: Keppel Offshore & Marine)

Singaporean conglomerate Keppel Corp on Thursday reported a first-half profit that rose 66%, helped by higher earnings across most of its main businesses and a rebound at its offshore & marine (O&M) unit.Keppel, which traces its roots to a small ship repair yard corporatized in 1968, has seen its renewable energy and asset management units bounce back this year, offsetting a decline in its urban development business."In an extended inflationary environment, demand for real assets with cash flow, such as those which Keppel develops, operates and manages, will continue to grow," Chief Executive

27 Apr 2022

Offshore Rig Builders Keppel O&M and Sembcorp Marine Set to Combine

Caption: From left: Mr Loh Chin Hua, CEO of Keppel Corporation and Chairman of Keppel O&M; Mr Chris Ong, CEO of Keppel O&M; Mr Wong Weng Sun, President & CEO of Sembcorp Marine, and Tan Sri Mohd Hassan Marican, Chairman of Sembcorp Marine at the signing of definitive agreements between Keppel Corporation and Sembcorp Marine for the Proposed Combination of Keppel Offshore & Marine and Sembcorp Marine.

Singapore's Sembcorp Marine (Sembmarine) has agreed to a multi-billion dollar merger with Keppel Corp's larger offshore and marine unit, a year after the Temasek-backed firms began deal talks to cope with an industry downturn.The loss-making oil rig builders have been whiplashed by years of oversupply and oil price volatility as well as a drop in new orders.Such troubles have been exacerbated by the global transition towards renewable energy, consolidation at Chinese and South Korean rivals…

17 Feb 2022

GC Rieber Shipping Delivers 'Polar Onyx' to New Owners

©GC Rieber Shipping

Norwegian offshore vessel firm GC Rieber Shipping has delivered the SURF / Construction vessel Polar Onyxto the new owners.GC Rieber Shipping first announced the agreement to sell the vessel to Taiwan-based offshore wind service conglomerate Dong Fang Offshore and Hung Hua Construction back in December 2021."The vessel has today been delivered to the new owner," GC Rieber Shipping said Thursday.The sale of the vessel, built at Ulstein Verft in 2014, includes the VLS tower onboard the vessel…

17 Jan 2022

PetroChina Tops Singapore's List of 2021 Bunker Fuel Suppliers

© Adwo / Adobe Stock

PetroChina International Singapore Pte Ltd climbed three spots to be the top marine fuel supplier in the world's biggest ship refueling hub in 2021 while the overall number of licensed suppliers fell by four to 41, official data showed on Monday.Shell Plc's Singapore bunkering unit, Shell Eastern Trading Pte Ltd, fell from the top ranking in 2020 to third, behind Singapore's Equatorial Marine Fuel Management Services Pte Ltd in second place, unchanged from 2020, the Maritime and Port Authority (MPA) of Singapore data showed.Vitol Bunkers Pte Ltd…

20 Dec 2021

GC Rieber Sells Polar Onyx Vessel to Taiwanese Offshore Wind Venture

Polar Onyx - Credit: GC Rieber Shipping

Oslo-listed GC Rieber Shipping has agreed to sell its SURF / Construction Vessel Polar Onyx to Taiwan-based offshore wind service conglomerate Dong Fang Offshore and Hung Hua Construction.The delivery of the vessel, built at Ulstein Verft in 2014, is expected to take place in the first quarter of 2022. The sale includes the VLS tower onboard the vessel. "Polar Onyx has since delivery proven herself as a solid and valuable asset in the SURF market. Starting out in Brazil in 2014, the vessel has performed robust operations on three continents on great depths.

06 Aug 2021

Container Shipping: China-US Box Rates Eclipse $20,000 Mark, a Record

© Pawin/AdobeStock

Container shipping rates from China to the United States have scaled fresh highs above $20,000 per 40-foot box as rising retailer orders ahead of the peak U.S. shopping season add strain to global supply chains.The acceleration in Delta-variant COVID-19 outbreaks in several counties has slowed global container turnaround rates.Typhoons off China's busy southern coast in late July and this week have also contributed to the crisis gripping the world's most important method for moving…

11 May 2021

Pandemic Propels Makeover at Shipping Giant Maersk

© Björn Wylezich / Adobe Stock

Maersk is accelerating its plan to transform itself from a container shipping giant into an integrated logistics company following its strong performance during the pandemic, Chief Executive Soren Skou said on Tuesday.Maersk, which handles one in five containers shipped worldwide, aims to expand its land-based logistics services, hoping to gain a larger share of the supply chain from existing shipping clients such as Puma and Walmart."I don't want to put a date to it, but I'm certain that our logistics business has potential to become just a big as ocean shipping measured in turnover…

20 Apr 2021

Video: RoPax Ferry Explodes in China

A ro-pax ferry exploded and caught fire while berthed at Weihai Port in Shandong, China.There were no passengers on board at the time of the blast, and no injuries have been reported.According to Chinese media, the 186-meter ferry Zhong Hua Fu Qiang had departed Weihai for Dalian on Monday night, but the vessel returned to port once smoke was observed coming from a truck on board. All passengers and crew members had been evacuated before the explosion occurred at around 11:40…

05 Feb 2021

China's Latest Weapon Against Taiwan: The Sand Dredger

© Frank / Adobe Stock

Taiwanese coast guard commander Lin Chie-ming is on the frontline of a new type of warfare that China is waging against Taiwan. China’s weapon? Sand.On a chilly morning in late January, Lin, clad in an orange uniform, stood on the rolling deck of his boat as it patrolled in choppy waters off the Taiwan-run Matsu Islands. A few kilometers away, the Chinese coast was faintly visible from Lin’s boat. He was on the lookout for Chinese sand-dredging ships encroaching on waters controlled by Taiwan.The Chinese goal…

28 Jan 2021

Keppel to Exit Offshore Rig Building Business

A Keppel-built drilling rig - File Photo: Keppel

Singapore's Keppel Offshore & Marine, a company famous for its offshore rig construction, is set to undergo a major transformation, look for opportunities as a developer and integrator of offshore energy and infrastructure assets, and exit the offshore rig building business.The company will be restructured into three parts, separating construction and ownership of legacy drilling rig assets from its core operations, "which will be slimmer, asset-light and people-light.""Keppel Corporation announced today that amidst the global energy transition and major disruptions facing the oil industry…

22 Jan 2021

China Authorizes Coast Guard to Fire on Foreign Vessels if Needed

(File photo; William Colclough / U.S. Coast Guard)

China passed a law on Friday that for the first time explicitly allows its coast guard to fire on foreign vessels, a move that could make the contested waters around China more choppy.China has maritime sovereignty disputes with Japan in the East China Sea and with several Southeast Asian countries in the South China Sea.

04 Dec 2020

Thailand's First Electric Ferry Fleet Enters Service

(Photo: Torqeedo)

Thailand's first fleet of electric commuter ferries was placed into service last week by the Bangkok Metropolitan Authority (BMA), bringing clean emissions-free passenger transport to one of the world's most congested cities. Seven new vessels joined the first test boat, which has been successfully transporting Bangkok residents since 2018.The 30-passenger, zero-emission water taxis are part of a fleet operated by BMA's Enterprise Krungthep Thanakom Company (KT BMA), which operates on a five-kilometer route daily…

18 Nov 2020

Container Freight Rates Soar

© VanderWolf Images / Adobe Stock

Global container shipping rates have surged to records on a spike in restocking demand in the United States and Europe, container scarcity at export hubs, and changes in freight flows because of the coronavirus pandemic, shipping sources said.The Freightos Baltic Global Container Index (FBX), a weighted average of 12 major global container routes, rose to $2,359 per forty-foot equivalent (FEU) container this week, the highest on record and up 30% since July 1."The spike is driven by very high demand for container freight since July…

29 Sep 2020

Keppel Starts Review of Struggling Offshore and Marine Business

Singaporean conglomerate Keppel Corp said on Tuesday it had identified assets worth S$17.5 billion ($12.8 billion) that could potentially be monetized, including through sales, and started a review of its loss-making offshore and marine (O&M) business.The plans unveiled on Tuesday are part of Keppel's 10-year strategy that it had flagged earlier this year to refocus its portfolio to energy and environment, urban development, connectivity, and asset management.Keppel said it was exploring options including strategic mergers and disposals for its offshore and marine business…

14 Aug 2020

Singapore Court Appoints Supervisor for Xihe Holdings

The Singapore High Court has appointed Grant Thornton Singapore as the supervisor of Xihe Holdings Pte Ltd and four of its subsidiaries, a source with knowledge of the matter said on Thursday.The court decision followed an application by Oversea-Chinese Banking Corporation Ltd (OCBC) to place Xihe Holdings and the subsidiaries under the business adviser's supervision.The subsidiaries involved are Da Xin Tankers (Pte) Ltd, Hua Guang Shipping Pte Ltd, Nan King Maritime (Pte) Ltd and Hua Xin Shipping Pte Ltd and these units together own five ships.Xihe Holdings is part of the Lim family business empire, which also includes oil trader Hin Leong Trading and fleet manager Ocean Tankers (Pte) Ltd…

29 Apr 2020

Keppel O&M Says Pivot to Gas, Renewables Pays Off

(File Photo: Keppel)

Keppel Offshore & Marine, an offshore construction subsidiary of Singapore's Keppel Corp, expects challenging conditions ahead due to the drop in oil prices but says its business diversification into gas and renewables has paid off.The company has traditionally been called an "offshore rig builder" as this was the Keppel O&M's core business in the heydays before the 2014-16 collapse in oil prices when oil fell from over $100 a barrel to below $30.However, with offshore drilling rig orders dwindling…

14 Jul 2020

Chinese Ships Intruded into Malaysian Waters 89 Times in Four Years -Report

File photo Chinese seismic vessel Haiyang Dizhi 8 (Credit: China Geologic Survey)

Chinese coastguard and navy ships intruded into Malaysian waters in the disputed South China Sea 89 times between 2016 to 2019, and often remained in the area even after being turned away by the Malaysian navy, the government said in a report on Tuesday.The report comes amid escalating tension between the United States and China over Beijing’s claims to most of the resource-rich South China Sea, which is also a major trade route.The Philippines, Brunei, Vietnam, Malaysia and Taiwan have their own claims that overlap in part with China’s and…

15 Jul 2020

US Says Room for Sanctions in Response to China in South China Sea

Mischief Reef has been occupied and controlled by China since 1995, and is also claimed by Taiwan, the Philippines and Vietnam. (Credit: CSIS/AMTI, DigitalGlobe)

The top U.S. diplomat for East Asia warned on Tuesday that Washington could respond with sanctions against Chinese officials and enterprises involved in coercion in the South China Sea after the United States announced a tougher stance to Beijing’s claims there.“Nothing is off the table ... there is room for that. This is a language the Chinese understand - demonstrative and tangible action,” David Stilwell, assistant secretary of state for East Asia, told a Washington think-tank when asked if sanctions were a possible U.S.

17 Apr 2020

Chinese, Malaysian Offshore Oil Vessels in South China Sea Standoff

A Chinese government survey ship is tagging an exploration vessel operated by Malaysia's state oil company Petronas in disputed waters in the South China Sea, three regional security sources said on Friday.China's Haiyang Dizhi 8 entered waters near Malaysia on Thursday, according to ship tracking website Marine Traffic.On Friday, it was close to the Petronas-operated West Capella, according to the security sources, who did not want to be identified because they were not authorised to talk to the media. One of the sources said a Vietnamese vessel was also tagging the West Capella.The area is close to waters claimed by both Vietnam and Malaysia as well by China…