The Bunker Firm’s Post

Another Oil Spill in Singapore During Bunkering🛢️ - On October 28, about 5 tonnes of fuel oil spilled from the bulk carrier Ines Corrado during bunkering in Singapore. - The vessel was refueling from the tanker Pacific Spirit while traveling from Brazil to China. - The Maritime and Port Authority responded swiftly with dispersants and monitoring efforts. - This marks Singapore's second oil spill in over a week and the third this year. Source: https://lnkd.in/dgmuPHK3 🌎 Unlock exclusive insights with 13,000+ industry leaders from 147 countries! Get world-class container shipping news and reports—for FREE. Don’t miss out, join the future of shipping today! 👉https://lnkd.in/dH4CEhzt 🌟 For FREE real-time container tracking, email your shipping line, MBL, and container number to info@maritimeanalytica.com! #ContainerShipping #Maritime #Logistics #SupplyChain #ShippingNews #IndustryInsights #ContainerTracking #Sustainability #FreightForwarding #MaritimeInnovation #DigitalTransformation #ShippingTechnology #Trade #MaritimeIndustry #ShippingNews #Maersk #CMACGM #HapagLloyd #Carriers #MSC #GlobalTrade #SeaFreight #Freight #Export #Import #AI #Newsletter #BigData #ArtificialIntelligence #OceanFreight #Ports #MaritimeAnalytica

Did you know when moving at normal speed, a fully loaded large tanker needs 20 minutes to stop? In emergency cases, some tankers can have a “crash stop” maneuver, which can reduce the time — but only down to about 15 minutes. This is due to the massive momentum these heavily-loaded vessels build up as they sail. As a result, most large tankers turn off their engines about 15 miles (25 km) away from their destination. We're proud to serve the tankers that carry essential liquids that fuel our lives and economy, including oil, liquid natural gas (LNG), liquid petroleum gas (LPG), and chemicals. Go here to learn more about the fleets we serve! https://lnkd.in/dfKFfgi

Busan, South Korea, is a key hub for global shipbuilding and maritime trade. 🚢 In our latest Ports Series article, we spotlight Chevron’s role in supporting Korea’s thriving newbuild sector with our advanced marine lubricants. Click the link in the comments to learn more! 👇 #BusanPort #Busan #MaritimeBusan 

Port of Singapore strengthens bunker quality tests: The Port of Singapore has taken proactive measures to enhance bunker quality testing following a significant incident in 2022 involving more than 200 ships. This incident highlighted the delivery of subpar bunker fuel supplied by Glencore. In response, the Port of Singapore has strengthened its requirements for the quality of oil being delivered, aiming to mitigate such occurrences in the future and uphold the industry's standards for reliable and high-quality bunker fuel. The decision to bolster bunker quality testing has been jointly undertaken by the Maritime and Port Authority of Singapore (MPA) and the Singapore Shipping Association. Since 2022, these entities have collaborated on a comprehensive study aimed at identifying and implementing measures to enhance bunker quality. This proactive initiative reflects their commitment to ensuring the reliability and integrity of bunker fuel deliveries in the Port of Singapore. #shipping #freight #oceanfreight #infrastructure #ports #singapore

HIP completes first STS Liquid Cargo Operation Hambantota International Port (HIP) has completed its first commercial ship-to-ship (STS) transfer operation for liquid cargo, marking another major milestone in the port’s expanding capabilities. The operation, carried out in collaboration with Singapore-based company Shipload Maritime to facilitate Laugfs vessel ‘Gas Challenger,’ highlights HIP’s commitment to becoming a key player in liquid cargo handling within the region. In this landmark operation, HIP facilitated the transfer of 3,170 metric tons (MT) of liquefied petroleum gas (LPG) from vessel IVAN6 to vessel GAS CHALLENGER, the latter operated by Laugfs Holdings. This operation comes at a crucial time, as LPG demand continues to outpace supply, and the transfer was expedited to support distribution to the Laugfs facility in Colombo. The partnership with Shipload Maritime enables HIP to offer STS services that were previously only accessible in the Maldives in this region. HIP’s STS services now make Sri Lanka a viable alternative for liquid cargo transfers, opening up a new chapter for the port whose expanding service offerings continue to meet growing needs of the region’s energy and cargo sectors. Source: https://lnkd.in/gzY3p7pp #HambantotaPort #FinanceInsights #FinanceNews

Strategic Combination

Panama Canal Tolls 💰 The Panama Canal, a cornerstone of global maritime trade, continues to set new records for toll fees. 𝗧𝗵𝗲 𝘁𝗼𝗹𝗹𝘀 𝗳𝗼𝗿 𝗻𝗮𝘃𝗶𝗴𝗮𝘁𝗶𝗻𝗴 𝘁𝗵𝗶𝘀 𝘃𝗶𝘁𝗮𝗹 𝘄𝗮𝘁𝗲𝗿𝘄𝗮𝘆 𝗰𝗮𝗻 𝗿𝗮𝗻𝗴𝗲 𝗳𝗿𝗼𝗺 $𝟴𝟬𝟬 𝗳𝗼𝗿 𝘀𝗺𝗮𝗹𝗹𝗲𝗿 𝘃𝗲𝘀𝘀𝗲𝗹𝘀 𝘁𝗼 𝗺𝗶𝗹𝗹𝗶𝗼𝗻𝘀 𝗳𝗼𝗿 𝘁𝗵𝗲 𝗹𝗮𝗿𝗴𝗲𝘀𝘁 𝘀𝗵𝗶𝗽𝘀, highlighting the canal's crucial role in international shipping routes. These tolls are essential for maintaining and operating this engineering marvel, ensuring it remains a key link in global trade. From private boats to massive LNG vessels, the Panama Canal facilitates a seamless flow of maritime traffic, underlining its immense value and importance. 🌍 These record-breaking tolls emphasize the strategic significance of the Panama Canal in facilitating global trade and ensuring efficient maritime operations. #crossroads #panamacanal

Southeaster Maritime Ltd v. Trafigura Maritime Logistics Pte Ltd (The Aquafreedom) [2024] EWHC 255 (Comm)   TIME CHARTER: WHETHER TIME CHARTER CONCLUDED: IMPACT OF A “SUBJECT” OF “CHARTERERS’ MANAGEMENT APPROVAL” WHERE “ALL TERMS” NOT AGREED BY THE PARTIES BEFOREHAND: APPLICATION FOR DECLARATION THAT NO LEGALLY BINDING CONTRACT CONCLUDED   This case reinforces the approach to charter party “subjects” taken in the “Leonidas” and the “Newcastle Express”, which equates their legal effect to that of the phrase “subject to contract”, and in its analysis of what amounts to a counter-offer (and thus something which prevents subsequent acceptance of an earlier offer) in the context of charter party negotiations.

The Panamax Post Wednesday, 3rd July   Any fool can carry on, but a wise man knows how to shorten sail in time   Good morning, and welcome to my daily Panamax Post column. Insert weather here   With much in the news, I wish you good fixtures and safe travels. And now for the news before the headlines The recent International Energy Agency (IEA) report forecasting a decline in oil demand by the end of this decade has raised concerns regarding the outlook of the product tanker market (Drewry Shipping Consultants Ltd) Euronav will be officially known as CMB.TECH from October this year following approval of the change at a shareholders' meeting China has deployed its indigenously developed ‘Shandong’ #aircraftcarrier near the #Philippines Norway’s DOF Group will pay approximately $1.1 billion to acquire Maersk Supply Service further consolidating the offshore service sector focusing on the #oilandgas sector Germany’s Lürssen shipyard, builder of large, luxury yachts, was struck by a fire early on Tuesday, July 2, at its yard in Schacht-Audorf alongside the #KielCanal The Baltic Exchange index rises for fifth straight day on strong #capesize demand in #DryBulk Market British Marine, the trade association for the UK leisure, superyacht and small commercial marine industry, has appointed Robert Parton CMM as its new President Lloyd’s Terminal and Infrastructure division has adopted a new brand name: Hanseatic Global Terminals The cost of #shipping cargo #containers from India to Europe has firmed up after major carriers raised rates from 1 July Global trade trends turned positive in Q1 2024, with goods and services trade increasing by 1% and 1.5% respectively, driven by the US, China, and India, according to UN Trade and Development (UNCTAD)’s July trade update Dutch #offshore construction player Heerema Marine Contractors has been awarded contracts for work on #offshorewindfarms in the #BalticSea SLB’s OneSubsea has won a sizeable contract for 13 wellsets plus associated equipment and services in the development of the Kaminho project offshore Angola from French energy major TotalEnergies Belfast-based shipbuilder Harland & Wolff has temporarily suspended trading of its shares due to delays in filing audited accounts On Tuesday, the China #CoastGuard seized a Taiwanese #fishingvessel at a site off the coast of Kinmen, an outlying island governed by Taiwan Saudi Arabian liner newcomer Folk Maritime is pressing ahead with ambitious growth targets in a deal with Bahri | البحري Ship Management. A large section of St. John's River turned white yesterday afternoon, prompting huge concern among the public. Russia continues to push forward with the rapid renewal and expansion of its #icebreakerfleet. Thank you to Adis Ajdin Marcus Hand Vijay krishna The Maritime Executive gCaptain

VesselsValue released its annual list of the top 10 shipowning nations based on total vessel asset value, with the U.S. ranking in 4th place once again. Here's a quick look: Japan retains the top spot with a strong showing across LNG, LPG, and vehicle carrier sectors. China, the leader in vessel count, boasts the largest bulker fleet. Greece maintains its position as the third-largest shipowning nation with the highest-valued tanker fleet. The US remains dominant in the cruise ship sector. Singapore retains fifth place with a notable LPG fleet value increase. Hong Kong emerges as a newcomer, ranking 10th due to significant investment in the bulker sector.