November 8th, 20191Singaporean authorities are pushing LNG as shipping’s fuel of the future, readying a swathe of incentives for shipping companies that decide to use gas instead of bunker fuel. Speaking today at the Singapore Registry of Ships Forum, Quah Ley Hoon, chief executive of the Maritime And Port Authority (MPA) of Singapore, outlined plans...
November 5th, 20190Singapore-based bulker owner Dasin Holdings has sold eight supramax bulk carriers to Cosco Shipping Leasing under a sale and leaseback arrangement. Both Allied Shipbroking and Seasure Shipbroking reported that Cosco Shipping Leasing has acquired Mandarin Phoenix, Mandarin Eagle, Mandarin China, Mandarin River, Mandarin Hantong,...
November 5th, 20190BW LPG, the gas shipping unit of BW Group, has sold 2003-built 44,800 dwt LPG carriers BW Nantes and BW Nice. The company confirmed the sale in an announcement, revealing the delivery will take place in the first quarter of 2020. The sale is expected to generate approximately $31m in liquidity and an expected net book gain of $9m...
November 5th, 20190Quetzal Capital, a company formed by members of the Malaysian tycoon Robert Kuok's Kouk group of companies, has announced a voluntary conditional cash offer for all of the issued and outstanding ordinary shares offshore vessel operator PACC Offshore Services Holdings (POSH). The offer price is S$0.215 ($0.1583) in cash per share,...
November 4th, 20190Singapore's Police Coast Guard (PCG), in a joint operation with the Maritime and Port Authority of Singapore (MPA), has arrested 11 men for their suspected involvement in an illegal transaction of marine gas oil (MGO) at sea off Northern Tuas. The 11 men include six crewmembers of a craft belonging to a marine service provider and...
November 4th, 20190Singapore's Sentek Marine & Trading has placed an order with China's New Times Shipbuilding for the construction of four 158,000 dwt suezmax crude tankers. According to shipbroking house Clarksons, the vessels are scheduled for delivery in 2021 and 2022. A price for the deal was not diclosed. The current price for a newbuild...
November 4th, 20190Singapore’s Sembcorp Marine, via subsidiary Sembcorp Marine Rigs & Floaters, has won a contract from Shell Offshore to build a floating production unit (FPU) for the Whale field in the Gulf of Mexico. The FPU will operate in the Alaminos Canyon Block 772 upon completion, which is scheduled for 2022. William Gu, head of rigs...
October 31st, 20190Shipping must urgently draft its own carbon levy, one of the world’s top shipowners has said today. Speaking at the Global Maritime Forum’s annual summit in Singapore where decarbonisation talk has topped the agenda over the past couple of days, Andreas Sohmen-Pao, chairman of BW Group, said: “To meet international shipping’s...
October 31st, 20190One of the founders of shipping’s key green finance move, the Poseidon Principles, has said he expects the vast majority of shipping banks to sign up to the initiative soon. Speaking at the Global Maritime Forum’s annual summit in Singapore yesterday, Citi’s Michael Parker said he expects between 80-90% of all serious shipping...
October 31st, 20190Singapore-based Grindrod Shipping is going to enter into a $10.3m financing agreement with a Japanese shipowner for its 2011-built handysize bulker IVS Magpie. Under the deal, the company will sell the vessel to the Japanese owner and charter it back for a period of 12 years with the option to re-acquire the vessel from the end of the...
