April 29th, 20200Singapore-based startup F-drones has claimed the city state’s first commercial beyond visual line of sight (BVLOS) drone delivery. Last week, one of the company’s drones delivered 2 kg of vitamins over 2.7 km to a ship managed by Idan Ofer’s Eastern Pacific Shipping (EPS) in just seven minutes. F-drones is the first company...
April 28th, 20200Yuichi Sonoda is to return as secretary-general of the Asian Shipowners’ Association (ASA), a role he held from 2010 to 2014. The Japanese citizen is unable to get to Singapore in time for the May 1 start of his tenure thanks to travel restrictions in place because of the coronavirus so ASA has decided to name him as...
April 28th, 20200BW Offshore has received a contract extension from Petrobras for its FPSO to operate with the Brazilian national oil firm for another 48 days. The new contract will expire on June 11 when BW Offshore is planning to demoblise the unit from the field, and is considering temporary layup in Brazil. BW Cidade de Sao Vicente commenced...
April 27th, 20200The Maritime and Port Authority of Singapore (MPA) has reported two vessel detentions for using non-compliant fuel in the first quarter to ensure the implementation of IMO 2020 sulphur regulations. According to the MPA, about 96% of the ships that arrived in the Port of Singapore used compliant fuel in the first quarter, excluding...
April 23rd, 20200Accounting firm PwC is set to become the interim judicial manager of Hin Leong Trading with founder O K Lim and his family ceding control of the oil trading giant. Singapore-based Hin Leong Trading, which controls Ocean Tankers as well as Ocean Bunkering Services, has revealed debts of $3.85bn recently as well as hidden futures losses...
April 21st, 20200The Singapore Police Force has opened an investigation into the decline and fall of Hin Leong Trading, a huge oil trader, which owes 23 banks a total of $3.85bn and has admitted covering up losses of $800m over a number of years. Hin Leong and its shipping arm Ocean Tankers have sought court protection in Singapore while its bunkering...
April 21st, 20200The Maritime and Port Authority of Singapore (MPA) has awarded new bunker supplier licences to Minerva Bunkering and TFG Marine. MPA believes the two new players will increase the supply of marine fuel that is compliant with the IMO 2020 sulphur regulations in the Singapore bunker market.The two companies will be required to each...
April 20th, 20201One of the biggest names in Singapore oil circles has sought court protection. Trading firm Hin Leong and subsidiary Ocean Tankers have applied to the courts, having lost hundreds of millions of dollars when the price of oil nosedived earlier this year. Court documents show that as of April 9, 23 banks had a combined exposure of...
April 15th, 20200Singapore’s Keppel Offshore & Marine (Keppel O&M) and government body Energy Market Authority (EMA) have formed a $10m partnership for the development of energy solutions in the areas of distributed energy resources, digitalisation and emerging low carbon alternatives. Under the MOU signed by Keppel O&M and EMA, the two...
April 14th, 20200Saudi Global Ports (SGP), a subsidiary of Singapore's port operator PSA International, entered a build, operate and transfer (BOT) agreement with Saudi Ports Authority (Mawani) for the first two container terminals in the King Abdulaziz Port in Dammam, making SGP the sole container terminal operator of the port. SGP will embark on a...
