News on Singapore.

Fewer floating oil storages off Singapore

There are now far fewer tanker vessels floating off the coast of Singapore serving as floating oil storages, and volumes have dropped to the lowest level since 2016, reports Bloomberg.

Offshore crisis hits Singapore companies yet again

Ezion, another one of Singapore's offshore companies, has filed for insolvency, and trading of the company's shares has been suspended. Shipping service company Marco Polo's shares have been suspended since May, and the company's latest interim report does not bode well for the future.

IBIA pleased with penalty for bunker company in Singapore

The International Bunker Industry Association praises the Maritime and Port Authority of Singapore for suspending violators from the major bunkering port, and the association is working with Singaporean players to close loopholes associated with bunker fraud.

Media: LPG cargo piling up off of Singapore

Several vessels loaded with LPG cargoes are idle off the coast of Singapore, waiting for better prices on the liquefied petroleum gas. However, the situation is not as severe as last year, writes Reuters.

Lauritzen managers to establish Baltnav in Singapore

Two managers from J. Lauritzen's office in Singapore have switched to competitor Baltnav, which is set to open an office there in early September this year. This marks the latest in a series of changes in J. Lauritzen's organisation.

Wrist Ship Supply parts ways with Singapore director

Wrist Ship Supply has parted ways with the managing director of its business in Asia, as Martin Gaard Christensen has left the position. An internal replacement will take over until a permanent solution has been found, the company confirms to ShippingWatch.

Singapore ratifies IMO ballast water convention

Singapore and three other nations have this week ratified the IMO's ballast water convention, which is set to come into force later this year. Altogether, close to two thirds of the global fleet have now ratified the convention.

Noble Group is fighting hard to survive

Major Asian commodity company Noble Group, which counts firms including bulk carrier Noble Chartering, is in the midst of a battle for survival. Recent weeks of bad news feed into fears for the future of the group which is listed in Singapore.

Singapore aims to be ready for LNG in 2020

Singapore is banking on being ready to fuel vessels with LNG from 2020 when global sulfur requirements take force, says the country's minister for trade to the newspaper Straits Times.

Singapore vil være klar til LNG i 2020

Singapore satser på at være klar til at tanke skibe med LNG-brændstof fra 2020, når de globale svovlkrav træder i kraft. Det fortæller landets handelsminister til avisen Straits Times.

"The era of privately owned carriers is coming to an end"

That was one of the arguments cited when Hafnia Tankers CEO Mikael Skov and CEO of Teekay Corporation, Kenneth Hvid, participated in a debate in which they had to convince representatives from family-owned carriers that they belong to the past.

Singapore cements its position as leading maritime hub

A new report from Norway's Menon Economics, published Wednesday in Singapore, cements Singapore's status as the world's number one maritime hub. The analysis names Hamburg, Oslo, Rotterdam, London, and Copenhagen as the five key European maritime capitals.

Top analyst shoots down container carrier optimism

Alphaliner's chief analyst, Tan Hua Joo, is one of only a few external experts who has been asked by the container sector's secretive Box Club about his view of the future. He now warns the carriers of a worrisome development.

Singapore wants more investors to enter the field

Despite its indisputable role as the world's shipping center, financing for maritime companies has been lagging behind in Singapore, and the country will now work to bring carriers and investors closer together. The understanding of shipping as an investment represents one of the challenges.

Crisis-struck Ezra addresses bondholders head on

Singapore based Ezra Holdings, with its extensive network of subsidiaries, held its first meeting with some of its lenders. The company, which is under US bankruptcy protection, is battling for survival.

Foreign shipping workers leave Singapore during perfect storm

Singapore's shipping industry is struggling and this is especially true of offshore. Many foreign employees of big companies have left the country, all while the government is open to the corporate demands and trying to keep the shipping industry afloat, several companies tell ShippingWatch.

Svitzer's growth in Asia lower than expected

Things have not moved quite as fast in Asia as expected since Svitzer opened office in Singapore in early 2016. The strategy in the region will change when the new overall strategy for Svitzer is settled in the second quarter this year, Managing Director Alan Bradley tells ShippingWatch.

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