Singapore-based harbour and terminal towage operator, and pilotage services provider PSA Marine, a wholly-owned subsidiary of PSA International, on Thursday says it will be building a total of two dual fuel liquefied natural gas (LNG) harbour tugs.
It has recently awarded a contract to build one dual fuel LNG harbour tug for delivery in 2019.
The company is planning to further award another contract in January 2018 to build a second dual fuel LNG harbour tug for delivery in the same year.
It will receive a grant of up to SGD$2 million ($1.48 million) for each tug from the Maritime and Port Authority of Singapore (MPA) under the LNG Bunkering (Pilot Programme).
“PSA Marine is excited to be one of the pioneers in Singapore to own and operate dual fuel LNG harbour tugs,’ says Peter Chew, Managing Director of PSA Marine.
“As a responsible corporate citizen, this is one of the ways which PSA Marine can play its part in reducing its carbon footprint and greenhouse gas emissions from our business operations.”
PSA Marine owns and operates more than 60 tugs in China, Hong Kong, India, Oman and Southeast Asia with flagship operations in Singapore.
Photo credit: PSA
The bunker player at Hong Kong and Chinese ports shares with Manifold Times what local shipping sectors went through during the early days of COVID-19 and how business is resuming.
April bunker sales results released on Wednesday caught several players, who expected volume to fall due to lower international trade and COVID-19, by surprise.
‘OTPL has a strong group of employees who have the requisite expertise and experience in ship chartering and management, which has commercial value and should be kept intact.’
Company believes market and business partners ‘likely to have greater confidence and comfort in continuing business dealings’ if placed under judicial management, says Director.
Panellists covered several marine fuel related topics including bunker fuel quality testing, COVID-2019, and long term storage of VLSFOs experienced during the first 100-day period.
Latest development alleges Chua Chin Lan facing total debt of approximately USD 5 million due to personal guarantees undertaken with Innovek and Global Energy Trading.