Hin Leong founder rejects major bank HSBC's accusations of falsified documents. According to the founder, the documents were issued by mistake, reports Bloomberg. HSBC has sued the founder and his family for more than USD 80 million.
Twice as many wind turbines will need to be installed over the next many years, and this requires significantly more offshore wind service vessels to handle the installations, writes Clarksons Platou in a new analysis.
The Danish financial police's prosecutor now pursues a prison sentence for Bunker Holding CEO Keld R. Demant in the case regarding the group's alleged violation of sanctions against selling jet fuel to Syria.
The Port of Rotterdam plans to introduce bunker licenses and improve both quality and a poor reputation in the industry. Two major carriers and operators ShippingWatch has spoken with find the initiatives insufficient.
Before IMO's secretary general, Kitack Lim, opens this week's decisive meetings in the MEPC to determine shipping's future CO2 strategy, frustrations and fears of a useless result – or even lack thereof – are spreading.
It comes as a surprise to Dan-Bunkering and its owner, Bunker Holding, that the companies have been charged in the Syria complex. The companies reject the charges and are puzzled that no authorities sounded the alarms during the process.
A new Covid-19 mutation stemming from minks in Northern Jutland has now resulted in a lockdown of the Danish region. The lockdown will impact 10,000 in the maritime industry. Ferry operator Stena Line has paused operations in the region.
The USTC group is on the hunt for new business legs as a counterweight to the bunker business, but this does not mean a farewell to oil. "When the tanker has delivered the last drop of oil, we'll be the last ones to hang up the keys," says owner Torben Østergaard-Nielsen.
From a market that solely consisted of oil-based products to a new reality in which vessels sail on, for example, electricity. IBIA chairman Henrik Zederkof outlines the radically changed bunker industry.
Singapore's Trade Minister Chan Chun Sing heralds several new initiatives aimed at restoring trust in the city state's scandal-stricken commodity market. New financial code of conduct is one of the measures.
Not a single Chinese lender has joined the Poseidon Principles so far, although the European banks behind the principles announced almost ten months ago that this was likely to happen shortly. Hope remains intact, however, says a spokesperson.
The low demand for fuel during the coronavirus pandemic will continue the rest of the year and into 2021, says bunker supplier World Fuel Services. The company only sees small improvements in still-weak market.
The hype in Washington State about the prospect of a large methanol plant set to create jobs, generate tax revenue and produce "climate-friendly" methanol has faded. The reason is growing environmental criticism. The fate of the Hafnia-supported plant will be decided in December.