Singapore News

18 Oct 2019

Singapore Company Fined for Illegal Scrapping Attempt

Harrier, previously named Tide Carrier was detained after suffering an engine failure and started to drift outside Jæren in Rogaland. (Photo: Kystverket)

A Singapore company has paid a NOK 7 million ($763,000) fine after it was caught trying to illegally export a barge carrier vessel from Norway for scrapping on the beaches in Pakistan, Norwegian authorities said.In 2017, inspectors from the Norwegian Maritime Authority (NMA) detained the Harrier, previously named Tide Carrier, when it suffered an engine failure and started to drift outside Jæren in Rogaland. Wirana Shipping Corporation, a company which buys discarded ships and sells them to scrap yards at beaches in India and Pakistan…

18 Oct 2019

Tankers Defer Retrofits to Cash in on Record Freight Rates

© Tony Vingerhoets / Adobe Stock

Tankers that had been scheduled to install emissions-cutting equipment ahead of stricter pollution standards starting in 2020 have deferred their visits to the dry docks to capitalize on an unexpected surge in freight rates, three trade sources said.U.S. sanctions on subsidiaries of vast Chinese shipping fleet Cosco in September sparked a surge in global oil shipping rates as traders scrambled to find non-blacklisted vessels to get their oil to market.The rates for chartering a supertanker from the U.S.

18 Oct 2019

Exxon, Trafigura Tap Lower Freight Rates

A VLCC loads crude oil in the port of Corpus Christi, TX (File image / credit Port of Corpus Christi)

U.S. crude exports to Asia, which have slumped due to record freight costs, stirred on Thursday as rates slid and the premium in Asia for Russia's ESPO Blend oil sent buyers back to U.S. grades, according to market sources.Oil shipping costs for United States Gulf Coast to Asia cooled this week from record highs on the prospect of more vessels becoming available. Nearly 300 oil tankers globally were placed off limits due to U.S. sanctions on Iran and Venezuela.Seventeen supertankers returned to service in October after being sidelined for overhauls, as 11 entered drydocks.

18 Oct 2019

Tankers Defer retrofits as Record Freight Rates Beckon

File Image: A VLCC in Drydock (EuroNav)

Tankers that had been scheduled to install emissions-cutting equipment ahead of stricter pollution standards starting in 2020 have deferred their visits to the dry docks to capitalise on an unexpected surge in freight rates, three trade sources said.U.S. sanctions on subsidiaries of vast Chinese shipping fleet Cosco in September sparked a surge in global oil shipping rates as traders scrambled to find non-blacklisted vessels to get their oil to market.The rates for chartering a supertanker from the U.S.

16 Oct 2019

Gazprom Neft Sets-up Lubes Shop in Singapore

Pic: Gazprom Neft

Russian oil and gas company Gazprom Neft has established Gazpromneft Marine Lubricants, a new operating company with an office in Singapore.The new business will manage the sales and logistics network for the group’s marine lubricants in Southeast Asia and Europe. The group aims to achieve a 4% market share in the international marine lubricants market by 2030.The marine lubricants and oils range, available under the Gazpromneft and Gazpromneft Ocean brands, includes 43 branded high-tech products for all kinds of marine equipment…

16 Oct 2019

COSCO VLCC Wins Temporary Sanction Relief

File Image / AdobeStock / © Jose Gill

A supertanker owned by COSCO Shipping Tankers (Dalian) has received a temporary waiver from U.S. sanctions that has allowed the ship to discharge crude oil cargoes, a source with direct knowledge of the matter said on Wednesday.The Very large crude carrier (VLCC) Coswisdom Lake, which discharged some crude in Singapore last week, offloaded its remaining oil at Brunei on Wednesday, shipping data on Refinitiv Eikon showed.The sanctions will resume after the cargoes are discharged, the source said.Sanction waivers were also being sought for a very large crude carrier carrying U.S.

18 Oct 2019

Two LNG Dual-Fuel DP Shuttle Tankers Unveiled

AET's Eagle Blane and Eagle Balder were unveiled at a naming ceremony held at the Samsung Heavy Industries (SHI) Geoje Shipyard, South Korea, today
(Photo: AET)

AET, a petroleum tanker owner and operator, has named its newest vessels, two of the world's first LNG Dual-Fuel Dynamic Positioning Shuttle Tankers (DPSTs). The vessels, the cleanest DPSTs ever built, will emit 40-48% less carbon than equivalent vessels built in 2008, meeting the International Maritime Organization's (IMO) target of reducing carbon (CO2) emissions by 40% against 2008 baselines by 2030, and halving CO2 emissions by 2050.These LNG Dual-Fuel DPSTs also emit 85% less SOx…

15 Oct 2019

MPA Revokes Bunker Craft Licence of Inter-Pacific Petroleum

Pic:  Maritime And Port Authority

The Maritime And Port Authority (MPA) of Singapore has stripped marine fuel services provider Inter-Pacific Petroleum (IPP) of its bunker craft operator licence in the port of Singapore, effective immediately.Inter-Pacific will not be allowed to operate tankers used to load marine fuel, known as bunker fuel, onto ships in the Port of Singapore, MPA says in a statement.As part of MPA’s ongoing efforts to ensure the integrity of bunkering in Singapore, checks were conducted on Inter…

15 Oct 2019

MOL Tabletop Drill on Containership Safety

Scenes of Emergency Control Headquarters during the drill. Photos: MOL

Japanese shipping giant Mitsui O.S.K. Lines (MOL) announced that it conducted a tabletop drill based on an incident simulation involving an MOL-owned containership.MOL holds these drills periodically to confirm its emergency response system in preparation for serious marine incidents, said a press release.The drill was held on Thursday, October 10, with the goal of raising company-wide safety awareness through the simulation of a serious marine incident. The drill was designed…

14 Oct 2019

Japan Cancels Maritime Fleet Review after Typhoon

Japan has cancelled a maritime fleet review planned for Monday, a spokesman for the Maritime Self-Defence Force said, after a fierce typhoon pounded Tokyo and surrounding regions over the weekend, causing flooding and widespread power outages.Last held four years ago, the review was due to include 46 naval vessels and 40 aircraft. Ships from Australia, India, the United States, Canada, Singapore and Britain were to join.Reporting by Tim Kelly

13 Oct 2019

Hapag-Lloyd Opens New South Europe HQ

Pic: Hapag-Lloyd

German cargo container shipping line, Hapag-Lloyd AG, officially opened its headquarter for the new region.CEO Rolf Habben Jansen presented the keys of the office complex in Genoa (Italy) to the new Senior Managing Director Juan Pablo Richards.During the opening event, Habben Jansen explained the motivation to create a new region: “After our merger with UASC in 2017 the Mediterranean region has gained more importance for us. That's why we are eager to bolster our competitive position…

11 Oct 2019

U.S. Sanctions Bite; Traders Shun 300 Tankers

AdobeStock / © Jose Gill

Nearly 300 oil tankers globally have been placed off limits as companies fear violating U.S. sanctions against Iran and Venezuela, driving freight rates to new highs, industry sources said.The move has taken roughly 3% of the global oil tanker fleet out of the market, according to industry sources and data on Refinitiv Eikon, sending rates soaring to secure tankers to ship oil, particularly to Asia."Freight rates are going through the roof and people are getting very nervous with the cost of shipping…

11 Oct 2019

CNOOC Seeks Replacements for Sanctioned COSCO LNG Tankers

AdobeStock / © Kasto

China National Offshore Oil and Gas Company (CNOOC) is on the hunt for liquefied natural gas (LNG) tankers to charter, several industry sources told Reuters, looking to replace ships it had previously hired that are linked to a Chinese company sanctioned by the United States for allegedly transporting Iranian oil.The company, COSCO Shipping Tanker (Dalian), is one of four Chinese firms on which the Trump administration imposed sanctions on Sept. 25, in what it described as the biggest sanctions taken by the U.S.

11 Oct 2019

U.S. Sanctions Deal Blow to LSFO for 'IMO 2020'

file image (credit: AdobeStock / © dbvirago

Highly sought after types of oil best suited to making cleaner shipping fuel are suddenly finding they are a tougher sell for thirsty East Asian markets, traders say, in an unintended consequence of U.S. sanctions on a Chinese shipping fleet.With just over two months until environmental rules are set to mandate the biggest changes to ship power in over a century, certain rare types of West African oil have soared in value but have had to be marked down due to the higher costs of transport.The United States imposed sanctions on units of China's COSCO on Sept.

11 Oct 2019

POSH Acquires Pacific Workboats

Image: POSH

Singapore-listed operator of offshore support vessels PACC Offshore Services Holdings (POSH) has agreed to acquire the 50 per cent stake held by Sembcorp Marine (SMM) in harbour services provider Pacific Workboats Pte Ltd (PWPL) for over US$679,400 in cash.PWPL is a 50:50 joint venture between POSH and Dolphin Shipping Company, a 100% owned subsidiary of Sembcorp Marine Limited. The 50% stake actually belongs to Dolphin. PWPL offers harbour services in Singapore and across the region.The Acquisition is expected to complete by end 2019…

10 Oct 2019

BIMCO Offers Bunker Fuel Price Monitoring

Graph: BIMCO

BIMCO has developed a monitoring service for bunker prices, with data provided by MABUX, which is now available to all BIMCO members. The new interactive graphs allow price fluctuations in the major bunkering hubs of Singapore and Rotterdam to be tracked. They will show the bunker prices for 380cST HSFO (high sulphur fuel oil) and MGO LS (marine gas oil low sulfur), both in USD per metric ton, as well as the spread between the two fuel types, with data available since June 2017.

10 Oct 2019

COSCO VLCC Discharges at Exxon's Singapore Facility

A supertanker owned by a subsidiary of COSCO Shipping Tanker (Dalian), which is under United States sanctions for alleged transportation of Iranian oil, has docked in Singapore to discharge its Middle East crude cargoes, shipping data on Refinitiv Eikon showed on Thursday.Coswisdom Lake, a very large crude carrier capable of holding 2 million barrels of oil, docked at Exxon Mobil Corp's terminal on Jurong Island late on Wednesday.Coswisdom Lake is owned by Pan Cosmos Shipping & Enterprises Co, which is a fully owned subsidiary of COSCO Dalian, according to a document issued by Cosco Shipping Energy Transportation on Oct. 1.Reporting by Florence Tan, Shu Zhang and Roslan Khasawneh

09 Oct 2019

Ocean Network Express Unveils AOCTEL

A scene from stowage plan review meeting to share improvements and good practices. Pic: Ocean Network Express

Ocean Network Express (ONE), a Japanese container shipping company that is headquartered in Tokyo and Singapore, has announced the establishment of the Advanced Ocean Container Transportation Engineering Lab (AOCTEL), a stowage planning hub in Kumamoto, Japan.The office was founded by Kozo Keikaku Engineering Inc (KKE) for Nippon Yusen Kabushiki Kaisha five years ago. ONE entered into the service agreement with KKE in April 2018.After the integration and commencement of ONE’s operation…

09 Oct 2019

COSCO Tankers Disable AIS as Sanctions Bite

AdobeStock (Credit Carabay ©)

About one-third of the oil tankers owned by COSCO Shipping Tanker (Dalian) have shut off their ship-tracking transponders since the United States imposed sanctions on the company for allegedly shipping Iranian crude, shipping data showed.From Sept. 30 to Oct. 7, a total of 14 COSCO Dalian ships, six of which carry some oil, stopped sending location data from their automatic identification system (AIS), ship tracking data on Refinitiv Eikon showed. The U.S. imposed the sanctions on Sept.

07 Oct 2019

ShipServ Signs Pact with AMOS Group

Photo: ShipServ

ShipServ, the marine eProcurement platform for ship operators, announced it is set to deliver a full supplier integration solution for AMOS Group Ltd, the SGX-listed global provider of diversified products services and solutions to the marine and offshore industries.The new full integration solution will enable AMOS Group to increase efficiencies and the speed of processing multiple transactions, significantly reducing labour time as well as quickly responding to RFQs. This will…

07 Oct 2019

Keppel, Sembcorp Reach Deal with Embattled Brazil Firm

When the Settlement Agreement is completed, Keppel O&M will have full ownership over the four uncompleted rigs to explore various options to extract the best value from the assets.  Keppel O&M is also in discussions with Magni Partners on the terms to complete the construction of the drilling rigs Urca (pictured) and Frade, which are about 92% and 70% completed respectively. (Photo: Keppel)

Singapore firms Keppel Corp and Sembcorp Marine said on Monday they had reached settlements with indebted Brazilian firm Sete Brasil over long-standing contracts to build drillships and rigs.Sete, which leased oil rigs to Brazil's state oil firm Petroleo Brasileiro SA (Petrobras), filed for bankruptcy protection in 2016 after being engulfed in a massive corruption scandal.Keppel and Sembcorp Marine are among a host of firms caught up in the wide-ranging "Car Wash" investigation.

06 Oct 2019

OSM Appoints New Chairman amd CEO

Photo: OSM Maritime

OSM Maritime Group, the provider of full service solutions to the Offshore and Maritime Industry, announced that it has appointed Tommy Olofsen as the Chairman.Tommy will in his new role, in addition to his current responsibilities, be responsible for strategic development, business relations and have a special focus on preserving and developing the OSM DNA and our core values, it said. Tommy will continue to be based in Arendal, Norway, the ship management company said.Bjoern Sprotte will be appointed CEO of OSM Maritime and be overall in charge of all day-to-day operations of the Group.

05 Oct 2019

Methanol-Fueled Chem Tanker Delivered to NYK

Built in South Korea at Hyundai Mipo, Nippon Yusen Kaisha (NYK Group) has taken delivery of Takaroa Sun. Photo: NYK

Nippon Yusen Kaisha (NYK Group) has taken delivery of Takaroa Sun, a methanol carrier equipped with two-stroke dual-fuel engine tech that allows the vessel to be powered by methanol. Built in South Korea at Hyundai MIPO Dockyard, the new ship was funded through NYK’s green financing initiative established to support environment-friendly projects.Takaroa Sun was built with the MAN Energy Solutions second-generation B&W ME-LGIM two-stroke dual-fuel engine that runs on both methanol and conventional marine fuel.

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