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Singfar launches company website; provides update on construction of DF bunker tanker newbuilds

26 Jul 2021

Singapore-based independent vessel owning, newbuilding management, and chartering firm Singfar International Pte Ltd (SFI) on Monday (26 July) launched its official company website [https://singfar.com.sg/].

“The launch of our company website signifies the readiness of Singfar to engage with relevant stakeholders to achieve our mission of enabling sustainable trade,” Pai Hong Yao, Managing Director of SFI, told bunkering publication Manifold Times.

“In developing the website, we have dedicated a lot of time and energy into evaluating our company’s values, strategy, and business operations, so that we may clearly articulate what we stand for and strive for to the broader ecosystem.”

Singfar is positioning itself to best contribute to the International Maritime Organization (IMO)’s goal of decarbonising the maritime industry, according to Pai.

The company has divested five of its older tonnage over the last eight months and launched its first Dual-Fuel (DF) bunker tanker project with the signing of a Memorandum of Understanding (MOU) with Lianyungang (LYG) shipyard for 5+5 newbuildings earlier in May.

“Since then, we are close to finalising the design and equipment list of the DF bunker tankers, which will adopt the latest DF liquefied natural gas (LNG) technologies and be built to provide the most efficient operational capabilities. We look forward to engaging with potential buyers and charterers for these vessels.

“We are also excited for the upcoming deliveries of our Suezmax newbuildings that have been designed and built to be IMO-Tier 3 and SOx compliant. These high-spec and efficient vessels which will be delivered in 2022 demonstrate our commitment towards sustainable shipping.”

Pai believes there will be increasing demand for greener, more efficient vessels due to the advent of the upcoming Energy Efficiency Existing Ship Index (EEXI) and Carbon Intensity Indicator (CII) rating scheme.

“We continue to see a growing emphasis on decarbonisation and sustainability in the maritime industry,” states Pai.

“The latest regulations adopted at the IMO Marine Environment Protection Committee [MEPC 76] to reduce greenhouse gas emissions from ships are testament to that.

“We further see strong interests from both buyers and charterers as they position themselves to comply with these international regulations.

“There is a real impetus behind this momentum as advancements are made in various segments of the ecosystem.

“As such, Singfar will continue to build a fleet of next-generation vessels, using our newbuilding expertise and networks, to support our customers and partners in their sustainability journey and promote collaborations towards decarbonisation.”

SFI and its subsidiaries currently own and manage 26 existing crude and product tankers, of which 23 are bunkering tankers.

Related: Interview: Singfar International aims to be a leading global player in sustainable shipping and bunkering
RelatedSingapore: Singfar International makes shipping market debut with 5+5 DF bunker tanker newbuilding order


Photo credit: Manifold Times
Published: 26 July, 2021

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