Singapore Rolls Out LNG Bunkering Standard
The first Singapore Technical Reference (TR) 56 for Liquefied Natural Gas (LNG) Bunkering was launched by the Maritime and Port Authority of Singapore (MPA), SPRING Singapore and the Standards Development Organisation @ Singapore Chemical Industry Council (SDO@SCIC). This standard has been developed to provide a safe, efficient, sustainable and transparent technical framework for conducting LNG bunkering operations in Singapore, thereby offering greater assurance to local and international LNG bunker buyers and suppliers.
MPA Honors Patrick Phoon
Ocean transportation firm, “K” Line Pte Ltd, and Patrick Phoon, Deputy Managing Director of Evergreen Shipping Agency, received the International Maritime Centre (Corporate) Award and the International Maritime Centre (Individual) Award respectively. The Maritime and Port Authority of Singapore (MPA) has honoured ten industry partners who have made outstanding contributions to Singapore's development as a premier global hub port and a leading international maritime centre at the Singapore International Maritime Awards (IMA) 2017.
MPA Honors ABS
ABS has been awarded the Offshore & Marine Engineering Award by the Maritime and Port Authority of Singapore (MPA). This award recognizes organizations that have made significant contributions toward the development of Singapore’s offshore and marine engineering sector. “ABS is honored to receive this award recognizing our leading role in Singapore’s marine and offshore industries,” says ABS Chairman, President and CEO Christopher J. Wiernicki. The MPA award recognizes ABS for its breakthrough work in the areas of innovation…
Singapore Ranked World's Top Maritime Capital
Singapore has once again emerged in top place in a ranking Menon’s Leading Maritime Capitals of the World Report (Menon Report) for 2017. The study, by Norwegian consultancy firm Menon Economics, looked at 24 objective indicators and garnered survey responses from more than 250 industry experts across all continents. Singapore was also ranked first in the report's 2015 and 2012 surveys. Singapore was ranked number one in the following three categories: Shipping, Ports and Logistics, and Attractiveness and Competitiveness.
LR Signs Two MoUs at Singapore Maritime Week
LR CEO, Alastair Marsh, signed two Memorandums of Understanding (MoU) during Singapore Maritime Week. The first promotes research and development (R&D) and innovation, building upon strong existing collaborations (e.g. enhanced understanding of cargo liquefaction to increase vessel stability and safety, extreme wave impact to optimize time and cost of semi-submersible rig design) and extending into big data and intelligent systems for real time condition monitoring, unmanned systems and robotics for operations…
Baltic Exchange Chief Outlines Growth Plan
Newly appointed Baltic Exchange Chief Executive Mark Jackson has set out the Exchange’s vision of the near-future in a wide-ranging speech in Singapore during the concurrent MPA Singapore Maritime and Singapore Iron Ore Weeks. “The recent acquisition of the Baltic Exchange by the Singapore Exchange (SGX) has reinvigorated this key international maritime institution, allowing us to grow our leadership profile and play a bigger role than ever before in setting standards, building consensus and leading change in the shipping markets. These are bold plans and will ensure that the Baltic Exchange remains at the heart of the bulk shipping industry for the long-term.
Singapore Conducts Chemical Spill Drill
To test and demonstrate Singapore’s readiness to tackle oil and chemical spills, a multi-agency joint chemical spill exercise was conducted on Friday. Organized by the Maritime and Port Authority of Singapore (MPA) the exercise took place at the conclusion of the 10th International Chemical and Oil Pollution Conference & Exhibition (ICOPCE), held in conjunction with the Singapore Maritime Week 2017. ChemSpill 2017 comprised a tabletop management exercise at MPA's Port Operations Control Centre Vista and a full scale chemical and oil spill response equipment deployment.
Global Maritime Community Gathers in Singapore
Amid structural and cyclical changes brought about by over-capacity, mega-alliances, increasing digitisation, as well as economic and geopolitical uncertainties, Singapore remains a premier global hub port and leading international maritime centre that held steady growth in 2016. In the face of headwinds, Singapore Maritime Week (SMW) 2017 – organised by the Maritime and Port Authority of Singapore (MPA) – will rally the global maritime industry for a week of discussions and networking to address critical issues impacting the regional and international maritime scene today.
Shipping Nations to Promote Digital Certificates
Danish Maritime Authority (DMA) Director General Andreas Nordseth, signed an agreement with Singapore and Norway on cooperation on digital certificates. The agreement is intended to make more countries migrate from paper certificates to digital certificates. The Danish Maritime Authority made world news when it announced on 24 June last year that from then on Danish ships were no longer to set to sea with heaps of paper certificates. Today the Danish Maritime Authority only issues digital certificates, which are very efficient and save time and money for both shipowners and authorities.
Singapore to Hong Kong: Give us back our troop carriers
Singapore welcomes Hong Kong pledge on handling of dispute. Singapore's defence minister on Monday said the nine armoured vehicles seized in Hong Kong could not be detained or confiscated, but that he welcomed Hong Kong's pledge for the dispute to be handled in line with its laws. Hong Kong customs seized the troop carriers in November as they were being shipped to Singapore from Taiwan after military exercises on the island that Beijing regards as a breakaway province, sparking tension between Singapore and China. Beijing, which regained sovereignty over the former British colony of Hong Kong in 1997, then warned countries against maintaining military ties with Taiwan. The vehicles were Singapore property, said Singapore Defence Minister Ng Eng Hen, answering questions in parliament.
Singapore Maritime Gallery Re-opens After Makeover
The Singapore Maritime Gallery (SMG) which underwent a refresh, was officially opened today by Senior Minister of State, Prime Minister's Office, Ministry of Foreign Affairs & Ministry of Transport, Mrs Josephine Teo. Visitors can now look forward to more interactive and experiential learning in a vibrant maritime setting. From a ship simulator to “Ship Spotting”, visitors can immerse themselves in virtual reality as they experience a 360 degrees view of the various ship models and their components.
Singapore's Second Cruise Terminal Set to Welcome First Ship
The 28,000-square-meter terminal, which was built at a cost of 500 million Singapore dollars (400 million U.S. dollars) and operated by the SATS-Creuers Cruise Services, will effectively double Singapore's berth capacity. The terminal has the capability to dock ships of up to 220,000 gross register tonnage (GRT) and measuring up to 360 meters in length with a hull draft of up to 11.5 meters. It also has a spacious arrival and departure hall comprising 80 check-in counters and up to 40 immigration counters…
MPA Trains Global Maritime Leaders
The MPA Academy – the training arm of the Maritime and Port Authority of Singapore (MPA) – in partnership with the Singapore Management University (SMU) and Human Capital Leadership Institute, has officially launched its 2nd Advanced Maritime Leaders’ Programme (AMLP). Taking place from 20 to 25 April 2017, the six-day programme will gather 19 senior maritime and port officials from all regions including, Africa, Asia, Caribbean, Europe, Latin America, Middle East and Oceania.
Singapore Launches First LNG Truck Loading Facility
Singapore LNG Corporation Pte Ltd (SLNG) and Maritime and Port Authority of Singapore (MPA) jointly launched the nation’s first Liquefied Natural Gas (LNG) Truck Loading Facility during a ceremony held on 12 April 2017, at the SLNG Terminal. The launch, which was officiated by Chief Executive Officer of SLNG, Mr John Ng, and Chief Executive of MPA, Mr Andrew Tan, marks the readiness of the facility for operations. SLNG and MPA signed a Memorandum of Understanding (MoU) at the…
Long-haul Arbitrage Trades to Benefit VLCCs
The OPEC production cuts since the start of 2017 has tightened supplies of medium and heavy sour crudes, leading to a narrowing Brent-Dubai EFS. This has made long-haul crude trades from the Atlantic Basin to the Far East economically viable, resulting in a surge in flows from the North Sea as well as Americas which has in turn boosted ton-mile demand in the VLCC sector. Growing ton-mile demand has helped to halt declining rates in a sector flooded with newbuild deliveries in Q1. VLCC rates for the benchmark AG/Japan route rebounded from w46 end-March to current levels of w65.
New Coal Carrier Enters Service for JERA Singapore
On April 14, newly constructed coal carrier Isuzu Maru was delivered at Oshima Shipbuilding Co. Ltd. in Saikai, Japan. The new vessel will be operated by NYK Bulkship (Asia) Pte. Ltd., an NYK group company located in Singapore, for the transport of coal for JERA Trading Singapore Pte. Ltd., a coal trading corporation owned by JERA Co., Inc. (67 percent) and EDF Trading Limited (33 percent). JERA Co., Inc. The delivery and naming ceremony held at the shipyard was attended by Tomohiko Ono…
Singapore Delays LNG Terminal Completion
According to a recent Reuters report, the Singapore government will take over development of its first $1 billion liquefied natural gas (LNG) terminal from a consortium to avoid more delays due to the credit crunch. The PowerGas-led consortium, in which GDF had a 30 percent stake, had been due to make its final investment decision this month for the project. The LNG’s completion was deferred by a year, from 2012 to 2013, making it the latest of several Singapore projects to be delayed due to the financial crisis.
HMAS Ballarat Exercises with Canadian Navy
Royal Australian Navy Frigate HMAS Ballarat has completed a range of underway exercises with Royal Canadian Navy ships HMCS Ottawa and Winnipeg in the waters of South East Asia during Ballarat's South East Asia deployment. The exercises, conducted in international waters from 19-21 April, included close quarters manoeuvring, practicing replenishment at sea activities and conducting anti submarine warfare training utilising helicopters from both navies. Commanding Officer Ballarat Commander David Landon said the underway exercises demonstrate the ease in which the two navies operate together.
IRClass Expands Presence in Southeast Asia
Indian Register of Shipping (IRClass) is boosting its presence in Southeast Asia with the opening of a new office in Malaysia. The move is part of its efforts to become a global classification society – a step taken after receiving recognition from the European Union. IRClass, which is a member of the International Association of Classification Societies (IACS), has just gained authorization as a Recognized Organization (RO) from Thailand. It has also strengthened its presence further with the opening of an office in Malaysia after establishing its Hong Kong office last year.
Hutchison Port Q1 Profit Slumps 70%
Hutchison Port Holdings Trust (HPHT) suffered a 69.9 percent plunge in first-quarter net profit to to HK$166.9 million ($24.4 million USD) from the corresponding period a year earlier. The Hong Kong-based port operator said it was largely due to the absence of a government rent and rates refund previously received. Excluding a one-off rent and rates refund, however, net profit would be 15.7 percent lower than that of last year, said the manager of the container port business trust in a statement.
Maiden Bakken oil cargo to Asia ships out, with more to come
The first ever reported export of North Dakota's crude oil to Asia left port last month, according to a shipping document seen by Reuters on Wednesday, in what is expected to be the first of numerous cargoes once the key Dakota Access pipeline starts moving oil in May. Swiss-based Mercuria Energy Trading S.A. loaded more than 600,000 barrels of Bakken crude, as well as some Mars Sour crude, in late March off the coast of Louisiana onto the very large crude carrier (VLCC) Maran Canopus, destined for Singapore, according to the bill of loading and ship tracking data. The burgeoning appetite for U.S. crude among Asian refiners could be a boon for Bakken crude, especially when the Dakota pipeline starts up.
Rickmers Maritime is Latest Singapore Casualty
Company struggled with debt in wake of shipping downturn. Debt includes over $270 mln in secured loans. Rickmers Maritime, a Singapore-listed trust that operates container ships, said it would be wound up as it has been unable to reach an agreement with its lenders to restructure debt or raise new equity. Struggling in the wake of a global shipping downturn, Rickmers joins other Singapore-listed companies from the offshore and marine sectors that have been grappling with debt in the last year.
Rickmer's Group Worth $740 Million
Following last month’s news that Singapore Based Rickmers Maritime Trust is to be wound up, Rickmers Holding AG released a statement on April 19 reporting that an understanding had been reached regarding restructuring of the Rickmers Group. It is understood that sole shareholder Bertram Rickmers will reduce his shareholding to below 25 percent, while the remaining 75 percent will be taken by lenders and bondholders. The value today of the Rickmers Group (a Rickmers Holding AG subsidiary) sits at $740 million, according to VesselsValue.