By Anna Shiryaevskaya (Bloomberg) --The new Saga Dawn liquefied natural gas tanker shuttling between Singapore and Humen in eastern China is a sign that the fastest-growing fossil fuel is permeating into markets once thought inaccessible. A so-called mid-sized tanker, the ship can travel up the Pearl River to access inland markets, extending LNG’s reach beyond traditional … [Read more...]
Singapore Reports ‘High Degree’ of Compliance with IMO 2020
Ships at anchor off Singapore. File Photo: Zheltikov Dmitry / Shutterstock The Port Authority of Singapore has reported a ‘high degree’ of compliance with new a international law limiting the sulphur content of fuel used by ships. In the first quarter of 2020, about 96% of ships calling at Asia’s largest bunkering hub, according to the Maritime Port Authority of … [Read more...]
Singapore Oil Trader Hin Leong Failed to Declare $800 Million Losses
File Photo: REUTERS/Tim Wimborne/Files Fabled Singapore oil trader Hin Leong hid about $800 million in losses racked up in futures trading on the orders of its founder Lim Oon Kuin, suggesting a much bigger hole in the company’s finances than thought, according to affidavits seen by Bloomberg. The downfall of Hin Leong Trading (Pte) Ltd., one of the biggest and most … [Read more...]
PetroChina Tops Singapore’s Shrinking List of 2019 Marine Fuel Suppliers
By Roslan Khasawneh SINGAPORE, Jan 29 (Reuters) - PetroChina's Singapore bunkering unit moved up a notch to be the top marine fuel supplier in the world's biggest ship refuelling hub in 2019, official data showed, as the overall number of suppliers fell for a sixth year in a row. Singapore-based Sentek Marine & Trading Pte Ltd climbed one spot to second, behind … [Read more...]
Piracy Along Malacca-Singapore Straits Jumps Nearly Fourfold
By Ann Koh (Bloomberg) --Piracy has surged this year along Southeast Asia’s straits of Malacca and Singapore, one of the world’s busiest trade routes, according to a watch group that tracks maritime security. Incidents along the shipping choke point have risen to 30, from 8 last year, according to data from ReCAAP ISC, a piracy information group with 20 member nations, … [Read more...]