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Tuesday, August 11, 2020

Singapore News

© Eddy Ulin / MarineTraffic.com

PDVSA Changes Oil Deals to Include Shipping as Sanctions Bite

Venezuelan state-run oil firm PDVSA has begun offering to ship its own oil, figuring in the costs in crude supply deals to help customers who have struggled to hire vessels to carry the country’s oil due to U.S. sanctions, according to company documents seen by Reuters.The United States has blacklisted vessel owners, shipping operators and threatened to sanction any tanker facilitating the country’s oil exports as it tightens restrictions on trade with the South American country.Washington has been trying to weaken socialist President Nicolas Maduro by choking the OPEC member’s oil exports…

Videlina Georgieva (left) with Lise Dumant (right) (Photo: Svitzer)

Svitzer Announces Leadership Changes

Towage operator Svitzer announced Monday that effective September 1, 2020, Lise Demant will leave her role as global chief commercial officer and take up the position of managing director for Svitzer’s Europe region, succeeding Kasper Friis Nilaus, who was recently appointed CEO of Svitzer A/S. Also effective September 1, Videlina Georgieva will succeed Demant as global CCO and enter Svitzer’s global leadership team.Both Demant and Georgieva are based in Copenhagen and will report to Nilaus.Demant joined Svitzer in 2013 as chief operating officer in Svitzer Asia Pte Ltd.…

Ingmar Loges (Newport Shipping)

Newport Shipping Names Loges Managing Director for Germany

Newport Shipping said Ingmar Loges has joined the company as Managing Director, Germany, supportSing U.K.-based drydocking services firm in group financial strategy and marketing strategy for the German market.Loges comes with more than 30 years of industry experience in domestic and international marketplaces. His previous roles included Global Head of Ship and Offshore Finance for the last 15 years in financial institutions DVB BANK SE Amsterdam, HSH Nordbank AG Hamburg, UniCredit…

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South Korea's July Exports Record Slowest Decline in Four Months

South Korean exports fell the slowest in four months and beat market expectations, data showed on Saturday, a further sign a recovery in Asia’s fourth-largest economy is gaining traction, although threats loom from global flare-ups in the COVID-19 pandemic.Overseas sales fell 7.0% in July from a year earlier, the trade ministry said, the fifth month of decline but much less than June’s 10.9% fall and the 9.7% drop tipped in a Reuters survey.South Korea is the first major exporting economy to release monthly trade data…

(Photo: Trafigura)

Trafigura Offers COVID-19 Premium

Commodities trader Trafigura Beheer has become the first company to offer a defined Covid premium on an Asian syndicated loan, paying up to an extra 20bp all-in on its latest US$1bn-equivalent financing.The novel pricing structure is a first for Asia, if not globally, and could set a precedent for other price-sensitive borrowers looking to limit the long-term effects of the pandemic on their funding costs.Without the Covid premiums, the terms of Trafigura's new deal are little…

Dennis de Bruin (Photo: BMT)

BMT Names de Bruin Managing Director for Europe

BMT announced Dennis de Bruin has been appointed Managing Director for BMT’s Commercial Shipping Europe business, with immediate effect.A BMT employee since 2004, de Bruin has more than 20 years of experience in the maritime industry. He has served for the last seven years as Marine Director for BMT's nautical and cargo department of the Rotterdam office.He will succeed Jeroen de Haas as Managing Director of our European offices in the Netherlands, Belgium and Switzerland, who has been at the helm of Commercial Shipping Europe since 2001…

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Shipowners Struggle to Bring Home Crews Amid Coronavirus Chaos

Shipping companies are still struggling to get hundreds of thousands of crew members back home after many months at sea despite pledges by countries to ease transit restrictions for seafarers, industry officials say.Countries including the UK, the United States, Singapore, the United Arab Emirates and the Philippines pledged this month to boost efforts to help seafarers, many of whom have been on ships longer than the 11-month limit laid out in a maritime labor convention.Other countries…

Pictured are Christian Rychly (on screen; left), Managing Director of MPC Capital – in Hamburg, and Carl Schou, CEO & President of Wilhelmsen Ship Management – in Singapore, taken during an online signing ceremony to formalize the partnership. (Photo: Wilhelmsen Ship Management)

Wilhelmsen Ship Management Acquires 50% Stake in Ahrenkiel Steamship

Wilhelmsen Ship Management, a provider of third-party ship management services headquartered in Singapore, and the Hamburg-based asset and investment manager MPC Capital AG have agreed to combine their activities in the technical management of containerships. To this end, Wilhelmsen Ship Management acquires a 50% stake in Ahrenkiel Steamship GmbH & Co KG, the technical containership manager within the MPC Capital Group.The joint venture will operate under the brand Wilhelmsen Ahrenkiel Ship Management.

Shipping's Switch to Cleaner Fuel Has Been Smooth Sailing -ING Bank

Seven months after the United Nations' shipping agency brought in hotly anticipated new rules to curb emissions, the raft of technical issues and leap in fuel prices that were expected to result have failed to materialize, ING Bank said on Tuesday.Global shipping and oil firms had flagged major concerns over potential disruptions from International Maritime Organization (IMO) rules implemented at the start of 2020, which capped marine fuels' sulphur content at 0.5% against 3.5% previously.However, shipping and marine fuel suppliers say expected technical issues, such as damage to engines from

(U. S. Coast Guard photo by Casey J. Ranel)

Isle of Man Ship Registry’s QUALSHIP 21 Status Confirmed by USCG

The Isle of Man Ship Registry has retained its place within the United States Coast Guard’s QUALSHIP 21 program, designed to recognize foreign-flagged vessels that maintain the highest safety and quality standards.Isle of Man Ship Registry director Cameron Mitchell said continued inclusion in the scheme through to July 2021 was great news for the registry and its clients, representing further independent verification of the quality of the Manx fleet.Entry into the program is based on data gathered during Port State Control inspections in the United States.

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Iron Ore Under Pressure as China Port Stockpiles Grow

Iron ore futures slipped on Monday on rising port inventory of the steelmaking ingredient in China, though optimism over prospects of strong domestic steel demand for the rest of the year kept losses in check.The Dalian Commodity Exchange's most-traded September iron ore contract closed down 0.3% at 817 yuan ($116.91) a tonne, stretching losses into a third consecutive session.Iron ore's August contract on the Singapore Exchange dropped 0.7% to $106.31 a tonne in afternoon trade, extending losses into a fourth session.China's imported iron ore inventory stocked at ports rose for a fourth strai

The car carrier Golden Ray sits capsized in St. Simons Sound, Ga. (U.S. Coast Guard photo by Brian McCrum)

Total Shipping Losses Are Declining, But Challenges Persist -Report

The record low 41 large shipping losses worldwide in 2019 represents a 20% improvement year-on-year and almost 70% over a decade, but the coronavirus crisis could endanger the long-term safety improvements in the shipping industry for 2020 and beyond, as difficult operating conditions and a sharp economic downturn present a unique set of challenges, according to recent report from marine insurer Allianz Global Corporate & Specialty (AGCS).Consequences of coronavirus and a sustained…

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Singapore Retains Its Place as World's Top Shipping Hub

Singapore has maintained its position as the world's top shipping hub for the seventh year straight, according to a report published by the Baltic Exchange and Chinese state news agency Xinhua.The Xinhua-Baltic International Shipping Center Development (ISCD) Index, now in its seventh edition, assesses factors including port throughput and infrastructure; depth and breadth of professional maritime support services; as well as the general business environment in its attempt to…

(Photo: Bureau Veritas)

BV Opens Remote Survey Center in Singapore

Bureau Veritas (BV) has opened a new remote survey center in Singapore, with more new locations to follow, as the testing, inspection and certification (TIC) services provider continues its digital transformation and push to prove remote class services amid travel restrictions in place due to the coronavirus pandemic. The newest site joins existing BV remote survey centers in Rotterdam, Piraeus, Istanbul and Dubai.Classification societies and other marine services providers have long striven to increase remote services in an effort to boost efficiencies and reduce costs.

Governments Pledge Crew Change Action

A dozen countries have have committed to facilitate crew changes and achieve key worker designation for seafarers, following a virtual ministerial summit hosted by the U.K. government on Thursday, marking progress to help resolve a growing crisis facing the maritime industry, and enable hundreds of thousands of stranded seafarers to go home or join ships.“The inability of ship operators worldwide to conduct ship’s crew changes is the single most pressing maritime operational challenge to the safe and efficient movement of global trade…

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Partners Launch LNG Training in Singapore

GTT Training said Monday it has reached a training partnership agreement with Wavelink Maritime Institute (WMI) to facilitate the delivery of GTT Training’s liquefied natural gas (LNG) industry related courses at WMI’s training facility in Jurong, Singapore.The partnership includes the installation of GTT Training’s Liquid Gas Handling Simulator ‘G-SIM’ at the Wavelink Maritime Simulation Center and the co-sharing of expertise.The LNG handling and operations courses will be geared toward personnel involved with LNG carriers, terminals and LNG-fueled vessels.

Photo Courtesy Robby Norman

Opinion: Shame on Port States for the Treatment of Seafarers

Port states benefit greatly from the vessels that call at their ports, loading and unloading cargoes with great efficiency and speed. The items manufactured in those states and sold overseas keep many of their citizens gainfully employed. The items imported supply stock for the stores of their nation and provide goods for their citizens. The physical ports utilized by the vessels are employment magnets, attracting a diverse array of industries.Yet, when the COVID-19 pandemic struck, those port states took swift actions against the very vessels that keep their economies in operation.

© Eddy Ulin / MarineTraffic.com

Tankers Carrying Venezuelan Oil Stuck at Sea

Tankers carrying nearly two months worth of Venezuelan oil output are stuck at sea as global refiners shun the nation’s crude to avoid falling foul of U.S. sanctions, according to industry sources, PDVSA documents and shipping data.Washington is tightening sanctions to cut Venezuela’s oil exports and deprive the government of socialist President Nicolas Maduro of its main source of revenue.The OPEC member’s exports are hovering near their lowest levels in more than 70 years and the economy has collapsed, but Maduro has held on - to the frustration of the administration of U.S.

(Photo: Berge Bulk)

Berge Bulk Digitalizes Its Procurement

A dry bulk shipping company looking to enhance efficiency, cut costs and create complete procurement transparency has turned to digital procurement through Ligimatic's SERTICA fleet management system.Singapore-based Berge Bulk, which controls a fleet of 70 vessels, including some of the largest in the world, equating to over 10 million DWT, invested in SERTICA in 2014, but has recently added Moscord Marketplace digital procurement to its exiting solution.SERTICA allows Berge Bulk to optimize internal procurement processes…

Picture from left to right: Ng Siew Chui, Maurice Rutten and Ryo Yajima.

Rutten Named CEO of Alphatron Marine Systems Pte Ltd.

JRC/Alphatron Marine said that Maurice Rutten was appointed Chief Executive Officer and Ryo Yajima in the position of Chief Commercial Officer of Alphatron Marine Systems Pte Ltd. as of July 1, 2020.In this position Rutten will be responsible for the operation of Alphatron Marine Systems Pte Ltd. and its subsidiaries in Singapore, Malaysia and Vietnam.Ryo Yajima will be responsible for the JRC business of the entire organization of Alphatron Marine Systems Pte Ltd. and its subsidiaries.In addition…

Anders Gronborg (Photo: Trafigura)

New TFG Marine CEO to Leave in September

The new chief executive of Trafigura's marine fuels joint venture TFG Marine will leave the business at the end of September, the company said on Monday without disclosing the reason for his departure.Anders Gronborg was appointed CEO in April after ending a 27-year career at World Fuel Services in 2018.The company and Gronborg have agreed to part in a "mutually agreed exit", a company spokeswoman said in an emailed statement, adding that his last day will be Sept. 30."The Board…

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Bunkering at UAE's Fujairah Plummets in May

Ship fuelling activity in Fujairah in the United Arab Emirates, a bunkering and fuel storage hub in the Middle East, fell in May as declining demand was made worse by slowing global trade because of the coronavirus pandemic, four trade sources said.Fujairah's ship refueling, or bunkering, volumes shrank to about 200,000-300,000 tonnes in May, down from average volumes of about 700,000-800,000 tonnes, said the sources with knowledge of the regional trade who declined to be identified."It's all things COVID…

APL England without cargo in the Port of Brisbane, prior to departing for China where the ship will be repaired. (Photo: AMSA)

Released by Australia, Containership APL England Sails to China for Repairs

Singapore-flagged containership APL England, detained in Australia after losing dozens of containers off the country's southeastern coast in May, has been released and is sailing to China for repairs, the Australian Maritime Safety Authority (AMSA) said Friday.The ship departed the Port of Brisbane without cargo and with a new master after AMSA's inspectors attended the ship and determined it is fit to sail. The ship’s previous master who is facing multiple charges relating to the incident…

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Singapore Rolls Out 'Maritime Digitalization Playbook'

The Maritime and Port Authority of Singapore (MPA), Singapore Shipping Association (SSA) and Infocomm Media Development Authority (IMDA) have launched the Maritime Digitalization Playbook (MDP), to support maritime companies in accelerating their digitalization plans as the economy reboots and enters a new normal post-COVID-19.Senior Minister of State for Transport and Health, Dr. Lam Pin Min, said, “This pandemic has accelerated digitalization, regardless whether you are a multinational company or a local SME.

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China to Be Self-reliant in IMO-compliant Fuel

Chinese refiners have the capacity to produce 18.1 million tonnes of low-sulphur fuel oil (LSFO) this year, which would make the country self-sufficient in the new shipping fuel, an official with state major PetroChina said on Monday.China has been striving to reduce its reliance on bunker fuel imports and is aiming to create its own marine fuel hub to supply northern Asia.About 20 refineries, mostly under state-run Sinopec Corp, PetroChina, CNOOC and Sinochem, installed equipment to produce 0.5% sulfur fuel that meets International Maritime Organization (IMO) rules that came into force at the

(Photo: Total Lubmarine)

Total Lubmarine Opens Chicago Lab

Total Lubmarine has extended the global reach of its technical support services with the opening of a new Diagomar Plus Laboratory in Chicago, Ill.The new lab opening means the marine lubricant specialist now has five centers around the world – with Chicago joining Ertvelde (Belgium), Singapore, Shanghai and Panama City.“North America is an increasingly busy market for us and the opening of the Chicago Lab ensures we have a specialist team on hand to deliver onshore dedicated technical support to our customers…