Editor: The following article was edited on 11 June, 2020 to reflect the correct company acquiring Maritec.
Shenzhen-based industrial testing company China Testing & Certification Group Co. Ltd. (CTC) Centre Testing International Group Co., Ltd. (CTI) in early March acquired Singapore-based marine fuel laboratory Maritec Laboratories Pte Ltd as a wholly-owned subsidiary for USD 38.6 million (SGD 54.86 million).
The acquisition allows CTI to leverage on Maritec’s strong presence in the Singapore market while providing a platform for the firm to expand its presence in the Asia-Pacific region, it says.
While the transaction has been internally reviewed and approved, further approvals by relevant government agencies are required from Singapore authorities, notes CTI.
During the transition period, which is stipulated as 12-24 months after closing, the original shareholders will continue to serve the company and complete the handover.
The original shareholders will continue to serve the company and complete the handover during the transition period, which is stipulated as 12-24 months after closing.
CTI notes if the required government approvals cannot be completed within six months of signing the agreement, the whole arrangement will be terminated.
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Photo credit: Helloquence
Published: 27 April, 2020
MPA, SMOU, SOS, and SSA are calling upon ships in the Port of Singapore to sound their horns for 15 seconds at 12 noon (Singapore local time) on Labour Day.
Total bunker sales in 2019 till May down by approximately 14% when compared to earlier year, show data.
Engineered Marine Fuels designed to help vessel operators comply with IMO 2020 while ensuring quality.
Octamar™ HF-10 Plus & Octamar™ Ultra HF both enhance the stability and compatibility of VLSFOs and hybrid fuels, company spokesman tells Manifold Times.
The bunker procurement optimisation tool will be marketed in the Asia Pacific region, by Ben Line Agencies.
Preparations since December 2019 pay off with tanker MT Alnic MC transporting the first parcel of 15 TMT VLSFO from Kochi to Singapore.
The local bunkering sector has adapted to IMO 2020 requirements and LSFO is now available at more than two earlier locations, notes bunker supplier Trillion Energy.
Claiming USD 108,887.87 for the supply and delivery of 310.00 mt of low sulphur marine gas oil at the Port of Jeddah on or about 23 February 2020.
A sanitisation expert offers Manifold Times a summary of the processes involved in disinfecting a ship together with the equipment and products used in the operation.
‘As the saying goes without people buying things, manufacturing will slow, trade will also slow and shipping movements slows down. It’s a whole chain of reaction,’ says Simon Neo.
Laboratory looking to collaborate with Singapore bunker surveyors to roll out COVID 19 testing service, which has been successfully adopted by land-based industries, to the maritime sector.
Sinfeng Marine Services filed an application to the Court of Appeal to withhold information from the liquidators on October 2019; the appeal was dismissed a month later.
