Singapore oil trading giant Hin Leong Trading has appointed local law firm Rajah & Tann as well as consultancy PwC to handle a liquidity crisis. Hin Leong is one of Singapore’s largest bunkering names and has a sizeable tanker fleet. The company has had letters of credit frozen by a number of banks...
https://splash247.com/under-pressure-hin-leong-trading-holds-urgent-negotiations-with-its-banks/
The Maritime and Port Authority of Singapore (MPA) has partnered with terminal operator PSA Singapore, Keppel Offshore & Marine, Bibby Maritime and hotel chain Ascott to bring in and manage two floating accommodations to temporarily house foreign workers as part of the national effort to contain...
https://splash247.com/singapore-deploys-floating-accommodation-in-fight-against-covid-19/
Japanese owner Fukunaga Kaiun has joined C Transport Maritime’s Supramax RSA having placed the 2012-built into the pool. Fukunaga Kaiun is the second Japanese owner to place vessels into the RSA, which now numbers over 80 vessels. “We are honoured that Fukunaga Kaiun has chosen to join our Supramax...
https://splash247.com/fukunaga-kaiun-joins-ctms-supramax-rsa/
The Singapore bunkering community is abuzz with speculation that one of the republic’s biggest names has hit severe financial difficulties. Bloomberg is reporting that a number of lenders have stopped issuing new letters of credit to Hin Leong Trading, a privately held company founded in 1963 by...
https://splash247.com/hin-leong-trading-finances-questioned/
Singapore shipmanagement firm Norstar Ship Management (NSM) has appointed Dr Lars Grünitz as its new managing director, replacing Christopher Kirton who Splash understands left to be closer to family. Grünitz brings with him over 15 years experience in the shipping industry, and was most recently...
https://splash247.com/norstar-ship-management-appoints-new-head-as-it-looks-to-diversify/
Splash has learnt troubled Singaporean liner Pacific International Lines (PIL) has missed another charter payment, but the company remains adamant it can get through the current crisis enveloping container shipping with the spread of coronavirus. Having been late with a charter payment in February,...
https://splash247.com/under-pressure-pil-misses-another-charter-payment/
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Officials at Busan New Port say that its seventh berth will be out of action for months as cleanup operations get underway to remove shattered crane debris following Monday’s dramatic boxship accident. Captured on video, and seen by more than 300,000 people on Splash’s YouTube channel already, the...
Under judicial management since July 2016, Singapore offshore concern Swiber Holdings has received possible salvation. The company has revealed it is studying a preliminary and non-binding expression of interest from an unspecified third party in relation to a potential investment in the group....
https://splash247.com/mystery-investor-circles-stricken-swiber/
The master and crew onboard the , at the centre of a week-long coronavirus-linked standoff in Bangladesh waters, have negotiated the details for the safe offload of the vessel’s cargo. With the Marshall Islands registry acting as mediator, the crew and the ship’s owner, Tomini from the United Arab...