News on Singapore.
Authorities in Singapore have given the UK-based P&I club license to underwrite insurances in the island state. The license comes shortly after the company received a similar license in Hong Kong.
Hin Leong's bunker division was the largest bunker supplier in Singapore for 2018, while Maersk oil trading saw the largest boost.
The collapse of Hamburg carrier Hansa Heavy Lift, the bunker sector in Singapore, Maersk's credit rating downgrade as well as a temperature reading of the tanker and dry bulk markets were some of ShippingWatch's big stories this week.
Bad news keeps emerging from the strained bunker sector, in which bunker company Coastal Oil Singapore, a local player in the world's largest bunker port, is now in the process of being liquidated.
The Port of Singapore looks set to reach a record level for container trade in 2018, reports Seatrade.
Chinese port Zhoushan is much smaller than Singapore in terms of bunker deliveries, but the port has big plans to challenge the world's biggest bunker port, reports Reuters.
The sale of bunkers in the world's top bunkering port, Singapore, will be stable next year despite new regulations and the fact that several suppliers have left the market, reports Platts.
The next big gathering of shipping leaders in the Global Maritime Forum will take place in Singapore.
More ports will ban open-loop scrubbers, project Torm and DHT Holdings after the news that Singapore will ban ships from using open-loop systems in the port's area.
Who actually picks up the phone if you ask for the Head of Danish carrier Norden's office in Singapore? ShippingWatch has met one of the five people that make up the collective management team. Norden has now extended the concept.
It will be illegal to use open-loop scrubbers in one of the key ports in the world. Singapore's Maritime and Port Authority will from Jan. 1, 2020 ban use of the technology.
Shipbuilders in Singapore note severe pressure from competitors backed by state support schemes and billions of dollars in subsidies. ShippingWatch has asked how two of the biggest yards handle the competition scenario.
Taking the pulse of Singapore's offshore industry, local yard Keppel Offshore & Marine gives the best picture of the market. After three years of downturn, optimism is now beginning to emerge again.
One year after the opening of an office in Singapore, bulk operator Baltnav has doubled the expected number of vessels on the books. Partners Michael Bonderup and Martin Sato clarify the company's status in an interview with ShippingWatch.
In order to avoid being hit with compensation or damage claims after supplying bad bunker, several suppliers in Singapore have allegedly started to tinker with bunker delivery contracts.
Worries of an impending supply crunch is gripping Singapore, the world's top ship fuel market, so tightly that even an upcoming injection from the west could do little to ease worries.
News of bad bunker findings in Singapore is on the one hand trivial, because it is hardly the first time such has occurred in the shipping industry. On the other hand, it could be an indication of something much bigger, sources say.
Shipments of contaminated bunker fuel oil have emerged in Singapore, the world's by far biggest bunker port. The dirty fuel can cause extensive damage to ship engines, and there are fears that the fuel will spread from Singapore throughout Asia.
Nine men face prison sentences of up to 15 years, if they are convicted of selling illegal and unspecified bunker fuel in the largest bunker port in the world.
Wilhelmsen's acquisition of Drew Marine has been rejected by competitions authorities in Singapore. The US has also contested the acquisition.
The number of newbuilds to be delivered to Singapore this year is set to hit a decade high. The five players awaiting the largest share of the new vessels include tanker, bulk and offshore carriers, according to a study from VesselsValue.
Singapore-based offshore company Ezion Group, currently in debt restructuring talks with its banks, heralds a deficit of more than USD 1 billion.
Shipbuilder Otto Marine Ltd. is now asking the Singapore High Court for protection, as the group is saddled with USD 877 million in liabilities and its creditors are demanding payment.
Dutch Boskalis has secured a contract to dredge and develop a new part of Singapore's port. The job will span the next nine years and is budgeted at EUR 300 million.
Singapore has presented a plan to secure the country's status as Asia's maritime hub of the future. The goal includes creating more than 5,000 jobs in 2025.
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