Business

SMW 2021: Industry leaders call for maritime to take transformative, collaborative action

CEO of MISC Berhad highlighted the value of collaboration to navigate two major shifts in maritime: the Fourth Industrial Revolution and the great energy transition.

Published

4 years ago

April 20, 2021

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5th Singapore Maritime Lecture Yee Yang Chien

The 15th Singapore Maritime Lecture, held on Monday (19 April) in conjunction with Singapore Maritime Week 2021, gathered over 550 industry leaders virtually and onsite to share insights on transformational shifts in the maritime industry and the opportunities for growth through partnerships and collaborations.

At the event, Yee Yang Chien, CEO and President of MISC Berhad, delivered a keynote speech titled ‘Making the Future Possible’. Yee highlighted the value of collaboration to navigate two major shifts impacting the global maritime industry: the Fourth Industrial Revolution and the great energy transition.

He cited “The Castor Initiative” – a joint development project to build the world’s first ammonia-fuelled tanker by 2025 – as an example of shifting paradigms to push the frontiers of industry transformation collectively.

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Panel Discussion

Following his keynote address, Yee joined Vandita Pant, Chief Commercial Officer of BHP; Pang Mei Yee, Global Practice Lead for Supply Chain and Analytics Head of Asia Pacific, DHL; and Simon Kuik, President of the Association of Singapore Marine Industries, in a panel discussion.

During the panel discussion titled “How can the maritime sector transform through digitalisation and decarbonisation to stay ahead in the new normal?”, the panellists emphasised that urgent and collaborative action within the ecosystem is required to realise a sustainable future for the maritime industry.

Citing Singapore’s achievements as an LNG bunkering hub, Yee added that the successes in adopting LNG as a transitional fuel pave the way for the development of other clean marine fuels. He shared that the resources and infrastructure established in Singapore will support the research and development of alternative fuels in the city-state.

The panellists said that decarbonisation is not just a challenge for today, but a challenge for our age. They urged the industry to work collaboratively to realise a more sustainable future, emphasising the importance of developing multiple pathways to decarbonisation. In closing, the panellists urged the industry to experiment and take actions to drive efforts on digitalisation and decarbonisation in the maritime industry.

Photo credit: The Maritime and Port Authority of Singapore
Published: 20 April, 2021

LNG Bunkering

China: Ningbo Zhoushan Port completes first LNG bunkering operation for 2025

Bunkering vessel “Hai Yang Shi You 302” supplied more than 10,000 cubic metres of LNG bunker fuel to containership “MSC Adya” at the Ningbo-Zhoushan Port port on 5 January.

Published

3 days ago

January 10, 2025

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China: Ningbo Zhoushan Port completes first LNG bunkering operation for 2025

Zhejiang Pilot Free Trade Zone Zhoushan Area on Wednesday (8 January) said Ningbo-Zhoushan Port successfully completed its first LNG bunkering operation for the year.

Bunkering vessel Hai Yang Shi You 302 supplied more than 10,000 cubic metres (m3) of LNG bunker fuel to containership MSC Adya at the port on 5 January.

Zhejiang Seaport International Trading, the bunker supplier for the operation, successfully obtained the Zhoushan Anchorage LNG bunkering licence in June 2024, extending refuelling services from dock to sea.

The company’s services cover Meishan, Chuanshan, Daxie and other port areas.

As China's first river-sea LNG transport and bunkering ship, Hai Yang Shi You is currently placed permanently at Ningbo Zhoushan Port, providing a variety of bunkering methods such as ship-to-ship and ship-to-shore.

Zhejiang Seaport International Trading will continue to expand the scope of bonded LNG bunkering operations and new alternative fuels such as green methanol, ammonia and biofuels in the Zhoushan Area.

Photo credit: Zhejiang Pilot Free Trade Zone Zhoushan Area
Published: 10 January, 2025

Business

Shandong Port Group bans US-sanctioned tankers from entering its ports

Group has prohibited ports to dock, unload or provide ship services to vessels on the Office of Foreign Control list managed by the US Department, according to a Reuters news report.

Published

3 days ago

January 10, 2025

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Shandong Port Group bans US-sanctioned tankers from entering its ports

China’s Shandong Port Group has reportedly blocked tankers affected by US sanctions from entering its ports, according to an exclusive news report by Reuters on Wednesday (8 January).

Citing a notice from the port, which was issued on 6 January and shared to Reuters by traders, the Group has prohibited ports to dock, unload or provide ship services to vessels on the Office of Foreign Control list managed by the US Department.

In another notice released on 7 January, the ban came after sanctioned tanker Eliza II unloaded at Yantai Port in early January.

Shandong Port operates major ports on the east coast of China including Qingdao, Rizhao and Yantai, which are major terminals for importing sanctioned oil.

The traders said the ban could slow imports into China, the world’s largest oil importing nation, and increase shipping costs.

Photo credit: Shandong Port Group
Published: 10 January, 2025

Business

US DoD designates COSCO Shipping and CNOOC as ‘Chinese military companies’

COSCO Shipping has responded that the company and its subsidiaries ‘have consistently adhered to local laws and regulations, maintaining strict compliance in all international operations’.

Published

3 days ago

January 10, 2025

Admin

China: Cosco Shipping and bp to explore collaboration into methanol bunker fuel

The US Department of Defense (DoD) on Tuesday (7 January) has added China’s state-owned shipping company COSCO Shipping and two of its subsidiaries to its list of companies for allegedly having links to the Chinese military.

The subsidiaries are COSCO SHIPPING (North America) and COSCO SHIPPING Finance.

DoD released the update to the names of "Chinese military companies" operating directly or indirectly in the United States in accordance with the statutory requirement of Section 1260H of the National Defense Authorisation Act for Fiscal Year 2021. The Department said it will update the list with additional entities as appropriate.

Updating the Section 1260H list of "Chinese military companies" is an important continuing effort in highlighting and countering the People’s Republic of China's (PRC) Military-Civil Fusion strategy, DOD added.

The list also included other Chinese shipping-related companies such as shipbuilders China Shipbuilding Trading and China State Shipbuilding Corporation, oil company China National Offshore Oil Corporation (CNOOC), CNOOC China and CNOOC International Trading.

Shipping container manufacturer China International Marine Containers (CIMC) was also included on the list of companies.

In a response to the move, COSCO Shipping said it has noted the recent inclusion of the company and its subsidiaries to the sanctions list.

“COSCO Shipping and its subsidiaries have consistently adhered to local laws and regulations, maintaining strict compliance in all international operations,” it said on its website.

“We remain committed to facilitating global trade and providing high-quality commercial shipping and logistics services to clients worldwide, including agricultural producers, manufacturers, energy firms, retailers, and exporters in the United States.”

“We emphasise that none of the aforementioned companies are ‘Chinese military companies’. We will engage with U.S. authorities to clarify this matter. This designation does not impose sanctions or export controls, and our global operations will continue uninterrupted.”

Photo credit: COSCO Shipping
Published: 10 January, 2025