December 13th, 20180Singapore’s First Ship Lease Trust (FSL) has signed contracts with Cosco Shipping Heavy Industry for the construction of two scrubber-fitted LR2 product tankers for $97.6m, confirming an LOI signed earlier this month.
In order to fund the acquisition, FSL says that it intends to sell ageing vessels from its fleet to raise up to...
December 10th, 20180Two liner subsidiaries of France’s CMA CGM are merging their Asian regional services to become a market leader on the hugely competitive intra-Asia scene.
APL today announced the proposed acquisition of the book of business of its sister company Cheng Lie Navigation (CNC).
APL will consolidate all its Intra-Asia business under...
December 10th, 20180Singapore’s Swissco, currently under judicial management, has agreed to sell the majority of its fleet of vessels to Allianz Middle East for $20.5m.
The sale sees Allianz acquire 21 vessels and options for four additional vessels, all anchor handlers, owned by Swissco for a further $8.5m.
The 25 vessels involved in the deal...
December 7th, 20180Singapore shipping trust FSL Trust Management plans to use freshly raised funds to add a pair of newbuild product tankers to its fleet.
The trust has entered into a letter of intent with China’s Cosco Shipping Heavy Industry to order two LR2 product tankers, fitted with scrubbers, for around $97.2m.
The LOI is valid until...
December 5th, 20182Andreas Sohmen-Pao, the head of the BW Group and chairman of the Singapore Maritime Foundation, shares his views on what it will take to remain a vibrant shipping hub in the future.
Singapore has grand ambitions when it comes to building on the legacy as a maritime nation.
The new Tuas mega port, earmarked as the centrepiece of...
December 5th, 20180The Teo family's shipping line has bolstered its bottom line with another sale to a Chinese leasing house. The Teos control Pacific International Lines (PIL), best known for its container business, but a company that has interests in other segments too.
Brokers tell Splash that PIL has sold two seven-year-old capesizes - the and -...
November 30th, 20180One of the busiest port cities in the world, Singapore, is to ban the use of open-loop scrubbers in its waters.
Speaking at a conference to promote the local shipping register today, Andrew Tan, the outgoing chief executive of the Maritime and Port Authority of Singapore (MPA), said the decision to ban open-loop scrubbers had been...
November 27th, 20180Singapore’s First Ship Lease Trust is proposing a preferential offering of around 965m new units to raise gross proceeds of up to S$43.03m ($31.3m).
The company intends to use 50%-100% of the net proceeds for fleet renewal which includes the acquisition of new and more recently built vessels, and any balance will be used for working...
November 20th, 20180Singapore authorities finally took action today against locally listed commodities trading house Noble Group more than three years after the first reports of accounting irregularities surfaced at the company.
The Commercial Affairs Department (CAD) of the Singapore Police Force (SPF), the Monetary Authority of Singapore (MAS) and the...
November 20th, 20180Greek dry bulk owner Diana Shipping has entered into a time charter contract with Singapore’s Berge Bulk for 2006-built capesize vessel .
The charter commenced last week, and will run through to between December 15, 2019 and March 30, 2020. The gross charter rate is $8,500 per day for the first thirty days and $15,350 per day...
