Tag: Singapore

Singapore-based port operator PSA experienced a slight decrease in its full-year net profit for 2018, despite the overall challenging market conditions. PSA's net profit achieved the SGD 1.25 billion (USD 925.36 million) in 2018, compared to SGD 1.29 billion (USD 954.97 million) seen a year earlier, representing a drop of 3.2%.

The Lloyd’s Register Fuel Oil Bunkering Analysis and Advisory Service (FOBAS) released an alert on 14 March, in which it warned all shipowners and operators regarding low flash point residual fuels at Singapore. The tested flash points were below the 60°C SOLAS minimum limit, with the results varying between 55 and 58 °C.

BP Marine announced that it will begin to retail low sulphur fuel that complies with upcoming MARPOL regulations which are limiting the sulphur content of marine fuels. Namely, BP will be introducing the new very low sulphur fuel oil, with a maximum 0.5% sulphur content, after conducting successful sea trials in the Amsterdam/Rotterdam/Antwerp and Singapore hubs.

Malaysia and Singapore have reached an agreement to restore relations regarding their disputed maritime border area, and namely the overlapping Johor Bahru Port Limits off Tanjung Piai and Singapore Port Limits off Tuas, that have constituted an issue of diplomatic tensions between the two countries for months.

While speaking at the last SAFETY4SEA Conference in Cyprus, Mr. Dimitris Maniatis, Chief Commercial Officer, Diaplous Maritime Services, provided a recap of the current maritime security status, focusing on key high risk areas, such as the Indian Ocean region and West African waters. For the Gulf of Guinea, he stressed, Piracy and Maritime Aggression is never ending.

During 5 to 11 March 2019, an incident of armed robbery against ship was reported to ReCAAP ISC. The incident took place on 5 February 2019 and was reported to ReCAAP ISC by Focal Point Singapore after verification with the relevant agencies. The incident occurred about 1.3 nm southwest of the Western Boarding Ground Alpha, Singapore.

An International Conference on Regional Cooperation for the Protection of the Marine Environment, organised by the Centre for International Law of the National University of Singapore (NUS), discussed cooperative efforts by regional bodies and platforms, and ways to improve the state of the marine environment in the region.

Singapore is one of the top bunkering ports in the world, providing high quality services which meet the requirements of the large number of vessels it serves daily; however, there are some challenging issues that operators should be aware of when it comes to bunkering, derived from frequent incidents which occurred in the past.

Asean member states must continue working to establish a single shipping market, Calvin Phua, deputy secretary of hub strategy at Singapore's Ministry of Transport, highlighted. This will enable the free flow of Asean shipping services, which will drive the economic growth in the region. This will in turn lead to more trade and investment, as well as more economic opportunities for Asean.

ReCAAP ISC published its weekly report concerning two piracy incidents that took place between 27 of February to 4 March in Straits of Malacca, Singapore and in the Gulf of Guinea. In both incidents the crew was not reported to be injured.