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 vessel [MT Strovolos] has been wrongly charged with stealing the cargo. It is not and has never at any time been our intention to misappropriate the cargo.’
Revised rates will be used to fund increased operating costs and encourage vessels to make faster turnarounds; to allow more ships to be served with the port’s limited space.
Merchant ships have shown reluctance to visit Labuan to avoid paying substantial charges triggered by a prolonged stay at the port due to the quarantine rule.
Offers VLSFO/HSFO and MGO together with debunkering facility for complete IMO 2020 solution at Falmouth.
Aldo Abela Surveys will expand Intertek’s inspections footprint in the Mediterranean region.
At the time of delivery, the newbuilding will still be subject to a full review of documentation requirements pertaining to the applied rules.
‘We’ll start the application [to MPA] before the end of 2022 and hopefully to receive approval within six months or sooner,’ L. Y. Hwang, Director / General Manager of Oval Asia Pacific Pte Ltd, tells Manifold Times.
Digitalisation makes it easier for shipowners to conform to growing external regulations such as new sulphur regulations and ‘no scrubber’ zones; operators can identify better bunkering options to reduce costs.
Eventual adoption of Digital Bunker Document Standard speeds up interoperability between stakeholders from both public and private sectors, learns Singapore bunkering publication Manifold Times.
Rob Ashton, Market Manager of Infineum, explains how Infineum B402 is a relatively easy way for a ship operator to positively influence a vessel’s CII rating while improving its bunker fuel consumption performance.
Fifteen incidents of misappropriation of Shell gasoil worth USD 10,4 million went undetected by Shell between 2016 to 2017 due to Muhammad Ali Bin Muhammad Nor’s involvement, learned Manifold Times.
ISO delegates represented seven countries and were in Singapore to attend a three-day meeting of ISO WG13 to develop two new ISO bunkering standards, learns Singapore bunkering publication Manifold Times.
