Singapore-listed commodities trading firm Noble Group Limited has reportedly sold its global oil business Noble America Corp (NAC) to Vitol for $400 million, $175 million lower than earlier estimates of $575 million.
“The decrease in estimated Consideration is primarily due to operating losses of NAC from 1 October 2017 to the Closing,” it said.
“These operating losses were driven by reduced trading operations, as the business was prepared for sale, which prevented NAC from covering it fixed expenses.”
The sale of NAC, which include the company’s London and Singapore desks, marks an effective exit of Noble from the oil trading business.
Publication date: 16 January, 2018
‘The declaration represents a call to action and addresses some of the most pressing challenges facing seafarers in the current era of COVID-19 restrictions,’ said CEO.
Tsakiridis worked as a Line Analyst during his internship and is experienced in bunker trading, and developing and conducting businesses worldwide.
ExxonMobil, Hoegh LNG, MAN Energy Solutions Singapore, Jurong Port, PSA Singapore and ITOCHU Group with their partners, are initial project partners.
Singapore’s bunker market remains tight amid persistent barge loading delays, while prompt availability has improved in Fujairah this week.
‘Shaft Power Limitation (ShaPoLi) system contributes to fuel consumption improvement and in turn to CO2 emissions reduction,’ says Dr Panos Deligiannis of Neda Maritime.
The Sea Cargo Charter is a global framework for assessing and disclosing the climate alignment of chartering activities to support climate goals of IMO.
Discussions around the need to develop methanol bunkering operations are taking place at numerous ports ahead of estimated demand of above 7M mtpa by 2030, says Chris Chatterton of Methanol Institute.
‘Economics of the shipping market will be the key driver enabling methanol to be adopted at a higher pace going forth over next couple years as market begins to return to more normal rates,’ states COO.
Integr8 Fuel injunction varied by Singapore Court to allow former employees to start work at Hartree Group in December 2022 following failure to produce evidence on biofuels development plans.
Variability of sources can affect the stability and performance of biofuel bunkers produced from these feedstocks, in turn leading to difficulties in meeting regulations and industry standards, shares Bryan Quek.
Top three positive movers in 2022 were Bunker House Petroleum Pte Ltd (+7), Eastpoint International Marketing Pte Ltd (+5), and Eng Hua Company (Pte) Ltd (+6); newcomer Sinopec Fuel Oil (Singapore) gets 19th spot.
Livestock carrier also involved in earlier bunker claim with Glander International Bunkering due to remaining unpaid fuel bill of approximately USD 116,000, according to court documents obtained by Manifold Times.
