Singapore News

17 Jan 2020

Low-sulphur Fuel Sales Surge

© vladsv / Adobe Stock

The final quarter of 2019 marked a massive decline of high-sulphur fuel oil (HSFO) sales, as the industry transitioned into compliance of the International Maritime Organization's (IMO) 2020 Sulphur Cap (IMO 2020). In Singapore, the world’s largest bunkering hub, the bunker sale landscape saw significant change as the sale of high-sulphur fuel oil dropped tremendously in a matter of months. In contrast, the sale of low-sulphur fuels skyrocketed in the final quarter.The first wave…

17 Jan 2020

AEGIR-Marine to Open Middle East Office

AEGIR-Marine has announced a new office in Dubai, UAE. The maritime stern tube seal and propulsion system service provider will now operate out of offices in the Netherlands, Singapore, Shanghai, Namibia, USA and UAE. The Dubai service team will focus its activities on both the strong Middle East oil and gas industry in addition to the company’s core business of commercial vessels.“In terms of stern tube seal and propulsion system service and parts, we are filling the gap between equipment makers and maritime service providers. This strategy resulted in a significant increase in service work and sales of parts in the Middle East,” says Serge Lapré…

15 Jan 2020

Ezion Sells Offshore Vessel to Astro

Teras Genesis. Image: Ezion Holdings

Singapore’s troubled liftboat operator Ezion Holdings has signed a memorandum of agreement to sell its offshore vessel Teras Genesis to the offshore and maritime chartering and brokerage company Astro Offshore.Ezion, in an attempt to reduce cash burn and shift focus to liftboats, has agreed to sell the vessel for cash consideration of US$2.25 million.The sale is expected to generate a gain of US$858,000 for Ezion, based on the vessel's US$1.39 million carrying value as at end-September.Ezion will use the sale proceeds to repay its secured bank loans.

14 Jan 2020

China Tax Waiver for Cleaner Ship Fuel Exports

Copyright: Suriyapong/AdobeStock

China has approved a long-awaited tax waiver on exports of cleaner ship fuel, paving the way for refiners to boost output, though Beijing may initially limit shipments to focus on growing its coastal marine fuel market, state refiner officials say.Ships globally have switched to lower sulphur fuels, or use emissions-removing devices, to comply with new rules imposed by the International Maritime Organization this year.China's State Council, or cabinet, gave the go-ahead to waive taxes on the 0.5% or very low sulphur fuel oil (VLSFO)…

09 Jan 2020

Mideast Tensions Create Insurance Headache for Tanker Owners

© leodeep / Adobe Stock

Even as the United States and Iran appear to signal a keenness to avoid further conflict, oil and gas shipowners are bracing to pay a price for the war of words that culminated in rocket strikes in Iraq over the last week - higher insurance bills.According to industry sources, payments known as war risk premiums for tankers shuttling through the Strait of Hormuz could rise significantly, adding hundreds of thousands of dollars to shipping costs in some cases that will ultimately…

06 Jan 2020

Signal, Heidmar Join Forces on Tanker Fleet

Image: Heidmar

Greek commercial ship management company Signal Maritime Services and tanker vessel trader Heidmar join forces to deliver commercial management to the global tanker market.Both companies have agreed a milestone partnership, under which Signal will manage a joint tanker fleet using its proprietary technology and analytical approach, said a press release.Signal’s Artificial-Intelligence-backed solution to pool management has consistently delivered superior earnings to its pool members…

03 Jan 2020

ENA Shogun Signed On One-year Deal

ENA Shogun (Photo: VOS Singapore)

Anchor-handling tug supply (AHTS) vessel ENA Shogun will commence a one-year project (+options to proceed further) with a Bruneian oil company, primarily supporting semi-submersible rigs in their fleet.VOS Singapore said it has secured a third-party ship management contract with a Bruneian offshore support vessel (OSV) owner/operator Lantana Services Sdn Bhd.ENA Shogun is a 200TBP, 16,314bhp, DP2, FIFI1, 2011-built AHTS vessel.Left to right: Ernest Loh, Business Manager, VOS Singapore; Sivakumar Ramudu, Manager Ship Management, VOS Singapore; Steven Tan, Operations Manager, VOS Singapore; Arev

02 Jan 2020

Grindrod Eyes Stake in IVS Bulk JV

Image: Grindrod Shipping

Singapore-headquartered provider of maritime transportation services in the drybulk and product tanker sectors, Grindrod Shipping Holdings is planning acquisition of an additional 33.25% stake in its IVS Bulk joint venture."Grindrod Shipping is progressing negotiations to acquire all of the 33.25% ordinary and preference shares in IVS Bulk held by one of its two JV partners for approximately $44.2 million, thereby increasing our stake in the JV to 66.75%," said a press release from the provider of dry-bulk and liquid shipping services.

26 Dec 2019

Scrubber, BWTS Retrofits Drive Keppel in 2019

Photo: Keppel Offshore & Marine Ltd.

Scrubber and ballast water treatment system refits have helped to maintain brisk business at shipyards globally, as shipowners upgrade ships to meet regulatory mandate. In Singapore, Keppel Offshore & Marine Ltd. reports that it has won 104 scrubber and BWTS retrofit orders worth a combined value of $118 million year-to-date, bringing the total number of retrofit projects secured to date to 108 scrubber and 97 BWTS projects.“Installation of scrubbers and BWTS can be highly complex and there has been strong demand worldwide to meet regulatory deadlines…

24 Dec 2019

Ferry Stena Estrid Completes Sea Trials

Image Credit: STENA

Stena Line’s "next-generation" ferry Stena Estrid has arrived in Holyhead after completing sea trials and a five-week, 10,000 mile journey from China to the Irish Sea where she will begin service early next year on her inaugural route from Dublin to Holyhead.Designed by Deltamarin and constructed at the China Merchants Jinling Shipbuilding Weihai Shipyard in China, Stena Estrid is the first of Stena RoRo’s nine next-generation E-Flexer Ro-Pax vessels in a series which include five for Stena Line and several additional vessels that will be on long-term charter for other ferry operators.

23 Dec 2019

Ardent Refocuses Strategy, Relocates to Netherlands

Ardent has announced a refocus of its strategy and a relocation of its headquarter.Ardent will refocus its strategy away from decommissioning towards its core business of emergency management and wreck removal. It has a market leading position in these areas which it intends to build further. Ardent will also move its headquarter from Houston, USA, to Ijmuiden, the Netherlands, where the new CEO, Oliver Timofei, and CFO, Jens Jaeger, are based.These moves will continue the positive momentum experienced in emergency management (emergency preparedness & emergency response) and wreck removal over the last 4 years and make Ardent more customer centric. Ardent will continue to provide its Global Preparedness Cover offerings as well as its OPA90 SMFF services for the USA.

22 Dec 2019

ReCAAP ISC Alerts on Piracy in Singapore Strait

Approximate location of the three incidents in the eastbound lane of Singapore Strait on 20 December 2019. Map: ReCAAP ISC

Three ships were attacked by pirates in Singapore Strait early in the morning, and late at night, on Dec 20, said South East Asia piracy watchdog ReCAAP ISC.Of the three ships that were boarded, two were bulk carriers and one was a tanker. Due to the proximity of the incidents, the same group of perpetrators responsible for the incidents on 20 December 2019 cannot be ruled out.With the three incidents that occurred on 20 December 2019, a total of 27 incidents have been reported in the Singapore Strait in 2019.

20 Dec 2019

CMA CGM: Terminal Deal with China Merchants Complete

A file image of a CMA CGM boxship (CREDIT: © CMA CGM)

CMA CGM said on Friday it had finalized an agreement with China Merchants Port Holdings Co.

20 Dec 2019

Singapore Jails Tanker Captain in Shell Theft Case

AdobeStock / © Renaschild

The captain of a Vietnamese oil tanker has been jailed for over five years in Singapore for his role in a scheme that saw around $150 million of oil stolen from Shell's biggest refinery over several years.Doan Xuan Than, 47, was sentenced to 66 months in prison on Thursday, a spokesman for the State Courts of Singapore said, becoming the second person jailed in a case that also involves former employees of Royal Dutch Shell who allegedly conspired to siphon oil from the firm's Singapore refinery.The theft…

20 Dec 2019

China Stocks up on VLSFO Ahead of IMO2020 Deadline

AdobeStock / © Mikesjc

Chinese marine fuel suppliers have signed up short-term deals to buy very low-sulphur fuel oil from companies like oil major Shell, Germany's Uniper and U.S. commodities trader Freepoint ahead of a new standard on emissions for the global shipping industry that kicks in on Jan. 1.While China's state refiners have pledged to produce a combined 14 million tonnes of the fuel for 2020 that complies with the tighter rules set by the International Maritime Organization (IMO), Beijing…

18 Dec 2019

Eagle Bulk Adds Hong Kong Eagle to Fleet

Image: Eagle Bulk Shipping

Eagle Bulk Shipping (EBS), the US-based fully integrated shipowner-operator engaged in the global transportation of drybulk commodities, announced that is has taken delivery of the sixth and final Ultramax drybulk vessel it agreed to acquire in July.The ship, which has been renamed the M/V Hong Kong Eagle, is a 2016-built, high specification SDARI-64 Ultramax vessel built at Jiangsu Yangzijiang Shipbuilding Co., Ltd., said the owner-operator within the Supramax / Ultramax segment.Gary Vogel…

17 Dec 2019

Diana Shipping Fixes Santa Barbara with Pacbulk

Santa Barbara. Image: Diana Shipping Inc

Diana Shipping  announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Pacbulk Shipping Pte. Ltd., Singapore, for one of its Capesize dry bulk vessels, the m/v Santa Barbara.The global shipping company specializing in the ownership of dry bulk vessels said that the gross charter rate is US$17,250 per day, minus a 5% commission paid to third parties, for a period of minimum twelve (months to maximum fourteen months.The charter is expected to commence on December 27…

11 Dec 2019

Asia Reports 8 Piracy Incidents in November

Map:  ReCAAP ISC

A total of eight incidents of armed robbery were reported against ships in Asia in November 2019, according to ReCAAP ISC monthly piracy report.ReCAAP said of the eight incidents reported in November 2019, five incidents, comprising four actual incidents and one attempted incident, occurred in the Singapore Strait.The total number of incidents of piracy and armed robbery against ships reported during January-November 2019 has decreased by 4%, but the number of actual incidents…

11 Dec 2019

Augmented-Reality Enters Maritime Maintenance

To augment content in the real world, CEON TechGuide employs spatial information and information about surroundings, such as table surfaces, workbenches and walls. Animations are not locked into a specific perspective, rather the user can move their tablet or head-mounted display around to view components from different angles, get exploded views of spare parts, etc. Image: MAN ES

New TechGuide maintenance app from MAN CEON represents new generation of instructional material.As the global maritime community embraces new digitalization technologies aimed at reducing costs and enhancing safety onboard ships, MAN CEON, which is MAN Energy Solutions umbrella brand for all its digital products, comes to the fore for TechGuide, and augmented reality maintenance platform.The new generation of instructional material with augmented reality features a mix of different multimedia.

10 Dec 2019

BW LPG's CEO Martin Ackermann Resigns

Martin Ackermann. Photo: BW LPG

BW LPG Limited, owner and operator of LPG vessels,  said that Martin Ackermann has decided to step down as CEO at the end of this year for family reasons, after five years leading the company from Singapore.Anders Onarheim, a non-executive director of BW LPG since 2013 and former Managing Director of Carnegie, will act as interim CEO of BW LPG.Martin Ackermann, CEO of BW LPG, said: “It has been a privilege to lead BW LPG through some challenging years and to see it continue as a strong platform for the future”.Andreas Sohmen-Pao…

09 Dec 2019

Bahri Looks to Make LNG Foray

© Mike Mareen / Adobe Stock

Saudi Aramco's shipping arm Bahri has issued an expression of interest (EOI) to charter up to 12 liquefied natural gas (LNG) tankers from 2025, its first foray into the superchilled fuel, industry sources said on Monday.No further details were immediately available and Saudi Aramco declined to comment. EOIs are preliminary enquiries that may or may not turn into full-fledged orders.According to Bahri's website, the national shipping carrier of Saudi Arabia has six business units dealing in oil…

06 Dec 2019

VOS Champion Starts New Charter

(Photo: Vroon Offshore Services)

Vroon Offshore Services reports its Singapore-managed anchor-handling tug supply (AHTS ) vessel VOS Champion has started a five-month contract with a major international oil and gas engineering, procurement, construction and installation (EPCI) contractor. The firm period of the current contract will last until March 2020.VOS Champion, which had been under charter to Chevron earlier this year, was delivered to her new charterers in early November and immediately mobilized to Sandakan, Malaysia.

05 Dec 2019

Tankers Running on Fumes as Shipping Fuel Switch Causes Delays

© Suriyapong / Adobe Stock

Disruption to shipping from the long-anticipated switch to more environmentally friendly marine fuels has finally arrived, exacerbated by logistical problems as much as any shortage of the cleaner fuel.New International Maritime Organization (IMO) rules, referred to as IMO 2020, aim to stop ships from using fuels containing more than 0.5% sulphur unless they are equipped with exhaust-cleaning systems known as scrubbers.From the start of January ships must load very low sulphur…

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