Singapore Eyes More Mega-Ship Calls as PM Opens Latest Pasir Panjang Terminal Expansion
Singapore has opened the newest addition to its container port with the aim of handling more mega-ships, the Economic Times reports.
A number of the planned 15 berths in Phases 3 and 4 of the Pasir Panjang Terminal are now operational, while the rest of the S$3.5 billion ($2.6 billion) project is scheduled to be completed by the end of 2017.
The completed project will bring Singapore's annual container handling capacity to 50 million TEUs, said PSA International Pte Ltd (PSA).
"This project also reflects our philosophy... always to scan the horizon, discern the trends, plan and invest ahead of time," said Fock Siew Wah, group chief executive officer of PSA.
All the new berths are said to have been designed to handle container ships with capacities larger than 10,000 TEUs. shipandbunker.com...
In a new review of 15 leading maritime cities, Singapore has retained its No.1 position followed by Hamburg, Oslo, Hong Kong and Shanghai.
Norwegian consulting company Menon canvassed a group of experts for their views based on five criteria: shipping centers, maritime finance and law, ports and logistics services, maritime technology and attractiveness and competitiveness.
Noting its "business friendly policies" and strategic location, the Menon report acknowledges Singapore "has gained a position in the global economy few would have predicted 40 years ago".
While Oslo is strong in maritime finance and technology, it takes third place overall behind Hamburg because of the latter's importance as a European port city. Meanwhile, China's position as the world's largest trading nation is confirmed by Shanghai joining Hong Kong to make up the Menon list of top five cities. www.freightweek.o...
MPA Signs $1.83 Billion Singapore Mega Port Project
The Maritime and Port Authority of Singapore (MPA) has signed a $1.83 billion deal to construct a new port terminal on reclaimed land, WorldMaritimeNews reports.
Once completed, the Tuas Terminal Phase 1 project is expected to have 20 deep-water berths with a capacity of 20 million TEUs per year.
The project will be carried out in part with the Dredging International Asia Pacific-Daelim Joint Venture (DDJV), who will be responsible for reclaiming 294 hectares of land, dredging the fairway and basins, and building an 8.6-kilometre quay wall.
According to reports, the reclamation is estimated to involve more than 80 million cubic metres of reclamation fill.
The quay wall will also reportedly be constructed onsite at a temporary yard before being moved using a floating dock vessel.
The project is expected to be completed in six years. shipandbunker.com...
The Maritime and Port Authority (MPA) of Singapore has infused another SGD65 million (USD46.8 million) to the Maritime Cluster Fund - Manpower Development (MCF-MD) programme to attract and groom local talent for the maritime sector.
With this injection, the fund has totalled up to SGD115 million and MPA stated that the additional funding will be used to introduce new initiatives, as well as step up existing efforts. www.ihsmaritime36...
60 ships arrested, 67 warrants filed in 2014 in Singapore
The number of ship arrests in Singapore fell last year, according to the country’s Supreme Court figures here the other day.
A total of 60 ships were arrested and 67 warrants of arrest filed in 2014, compared with the 2013 figures of 85 and 110, respectively. Last year’s figures were also the lowest in two years, nearly half that of the 114 ship arrests and 133 warrants of arrest filed in 2012.
The lower arrest figures in 2014 were recorded despite the collapse in November 2014 of OW Bunker, which prompted a surge of bunker tanker arrests that month. For instance, oil company Phillips 66 International Trading seized six ships following OW Bunker’s bankruptcy. In addition, Singapore-based oil trading firm Hin Leong Trading arrested a bunker tanker to claim for the fuel oil cargo.
Despite the ship arrests taking place in quick succession, the Maritime and Port Authority of Singapore and Singapore Shipping Association assured the industry that the country’s bunker supply suffered no disruptions. According to the Supreme Court, most of the seizures were related to claims from the cargo owners. customstoday.com....
OW Bunker collapse to shake up world's largest ship fuel market Singapore
(Reuters) - The collapse of OW Bunker in the wake of an alleged fraud at its Singapore trading unit will shake up the city state's more than $25 billion marine fuel market, the world's largest, as major companies expand and small ones shrink amid a credit squeeze.
OW Bunker, a leading supplier of marine fuel oil known as "bunker", filed for bankruptcy in Denmark a week ago after it revealed losses of at least $125 million at Dynamic Oil Trading, prompting banks to refuse to provide new credit lines.
In a market that relies heavily on open credit, traders fear the incident could create a domino effect, pulling more companies down with it.
"Credit is so tight, only the big boys will survive," said independent energy consultant Ong Eng Tong.
A slew of creditors have launched legal actions in Singapore to reclaim debts, while fears of counterparty exposure have pushed up credit costs and driven bunker fuel premiums to hit more than 2-year highs.
Fuel oil sellers are demanding payment guarantees for oil sold to bunker companies, while the cost to insure such deals is also set to climb as claims relating to OW Bunker roll in.
Shipowners are also heading to other ports in Asia, with Hong Kong sellers getting up to 20 percent more inquiries from shipowners following OW's collapse.
The Maritime and Port Authority of Singapore (MPA) and the Singapore Shipping Association have said there was no disruption to bunker supply in the city state.
Singapore Port Health Office now requires all arriving vessels that have been to the Ebola affected countries (ie, Guinea, Liberia, Sierra Leone and Democratic Republic of Congo) in the past 21 days to submit the Maritime Declaration of Health Form to the Port Health Office.This form must be submitted regardless of whether there are sick passengers or crew on board. It should be submitted to the Port Health Office fax, 62228543 or by email to Port_Health_CRO@nea.gov.sg
World’s Largest Bunkering Port To Supply LNG To Ships By 2020
Singapore, the world's largest bunkering port, plans to supply liquefied natural gas (LNG) to fuel ships by 2020, a government official said on 15th October, as part of a global trend to move away from oil to gas to reduce emissions.
Illegal bunker fuel trade on the rise in Singapore
Cases of illegal trade in marine diesel are on the rise in Singapore and more offenders have been arrested, according to the republic’s Police Coast Guard (PCG). From January to July this year, around 60 metric tonnes of ship fuel changed hands illegally, 10 times more than the whole of last year, local media reported.