Tag: Singapore

The Singapore Shipping Association (SSA)  announced the formation of a new Digital Transformation Committee assisting member companies enhance their efficiencies by boosting technology, that will help companies alter their operating models by boosting their digital capabilities, aiming internal efficiencies, reduce costs and improve their services for sustained growth in the digitial economy.

In its weekly report for 23-29 July, ReCAAP ISC informed of two CAT 4 incidents of armed robbery against ships in Asia. Both incidents occurred to tug boats towing barges while underway in the westbound lane of the Traffic Separation Scheme (TSS) in the Singapore Strait, a key area of concern in recent months. 

Singapore’s Jurong Port Tank Terminals completed the first phase of works in Pulau Damar Laut in Jurong Port and is now ready to welcome customers. An opening ceremony took place on July 29, making 252,000 cbm of clean petroleum product storage capacity available to the market.

Oil traders are chartering more ships, while they are are trying to find fuel oil storage tanks in and around Singapore, the world’s top bunkering port, aiming to ensure compliance with the upcoming 2020 sulphur cap. This move has increased lease rates for tank storage in Singapore, as well as the number of supertankers floating in Singapore and Malaysian waters.

Pirates attacked a South Korean-flagged cargo ship in the South China Sea early on July 22, and stole thousands of dollars in cash, as well as the sailors' shoes. Because of the attack, two people sustained minor injuries. What is more, after the pirates boarded the CK Bluebell, they took $13,000 and belongings, such as mobile phones, clothes and shoes from the 22 crewmembers. The incident happened near the Singapore Strait.

Reuters reports that the recent attacks around the Strait of Hormuz and the Gulf of Oman have increased insurance costs resulting to the decrease of purchases of marine fuels in the UAE Fujairah oil hub, as shippers are trying to mitigate their time in the Middle East.

The passenger ship Indera Bupala ran aground on July 15 about 1.5 nautical miles, off Mengkilo, Bintan, Indonesia. The ship was carrying 40 passengers on board, and was heading from Singapore to Lobam Port, western Bintan. Initial information indicated that the hull was not damaged, while there was not leak from the ship after the incident.

In its weekly report for 9 – 15 July, ReCAAP ISC informed of one CAT 4 incident of armed robbery against ships in Asia, involving the barge 'Sung Fatt 36' in the Singapore Strait. Notably, this was the second time in 2019 that this vessel was targeted by perpetrators in this region. 

A man linked to a case involving 340,000 tonnes of stolen gas oil worth more than $200 million - the largest ever in Singapore - has been jailed for two and a half years. Dang Van Hanh has been jailed after pleading guilty to have received 5,600 metric tonnes of marine gasoil (MGO) stolen from Shell's Pulau Bukom refinery.

Xinhua-and Baltic Exchange issued their International Shipping Centre Development (ISCD) Index 2019, placing Singapore at the top for the sixth consecutive year. Compared to 2014-2019, results are relatively stable. The report showed a decreasing gap between Singapore and London.