Singapore-based tonnage provider Eastern Pacific Shipping (EPS), on Friday (23 October) said it has won a bid to purchase, build, and operate four 98,000 cubic meter VLECs for China-based Zhejiang Satellite Petrochemical (STL).
The vessels will be carrying ethane from the US Gulf Coast to Shenzhen-listed STL’s plant in Lianyungang, China, said EPS.
All four VLECs will feature dual fuel ethane propulsion which will reduce greenhouse gas emissions when compared to conventional marine fuels.
“We are extremely pleased to partner with STL and enter the ethane carrier segment, as both companies share a vision of being the green and technology-driven leaders in our respective industries,” said Cyril Ducau, EPS CEO.
“This made the negotiations and subsequent agreement an enjoyable and seamless process. For EPS, the addition of these four vessels complement our existing, and growing, mid and large gas carrier fleet.
“This deal also serves as an example of our commitment to using alternative marine fuels as transitional fuels towards decarbonisation and the preservation of the environment for future generations. This 15-year charter is a major milestone for us that will strengthen our foundation as we grow and diversify our fleet.”
The VLECs will be built at South Korea’s Hyundai Heavy Industries and Samsung Heavy Industries and are scheduled for delivery in the first half of 2022.
Photo credit: Eastern Pacific Shipping
Published: 26 October, 2020
‘MFM is more than just MFM,’ says spokesman of Singapore accredited bunker supplier.
Lau Chin Huat is appointed as the Liquidator for the purpose of winding up the companies and all creditors are to submit proofs of debt before Friday, 23 April.
Delivered premiums for HS380 bunker fuel have risen to an average of $9/t in June, up from $6.50/t in May.
Introduces new Chairman, shift of corporate headquarters, ‘stable’ Q1 operations, and more.
Intends to support development of bonded bunkering operations at the Guangdong-Hong Kong-Macao Greater Bay Area as a resource supplier.
Legal firm discusses if owners or charterers should foot the bill and the finer points of scrubber financing.
Program introduces periodic assessments, mass flow metering data analysis, and regular training for relevant key personnel to better handle the MFMS to ensure a high level of continuous operational competency.
U.S. Claims Register Summary recorded a total USD 833 million claim from a total 180 creditors against O.W. Bunker USA, according to the creditor list seen by Singapore bunkering publication Manifold Times.
Glencore purchased fuel through Straits Pinnacle which contracted supply from Unicious Energy. Contaminated HSFO was loaded at Khor Fakkan port and shipped to a FSU in Tanjong Pelepas, Malaysia to be further blended.
Individuals were employees of surveying companies engaged by Shell to inspect the volume of oil loaded onto the vessels which Shell supplied oil to; they allegedly accepted bribes totalling at least USD 213,000.
MPA preliminary investigations revealed that the affected marine fuel was supplied by Glencore Singapore Pte Ltd who later sold part of the same cargo to PetroChina International (Singapore) Pte Ltd.
‘MPA had immediately contacted the relevant bunker suppliers to take necessary steps to ensure that the relevant batch of fuel was no longer supplied. Further investigations are currently on-going,’ it informs.
