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
Through ‘exclusive deal’ with Port of Canakkale enabling new supply option at Turkish Straits.
‘The expansion in revenue was attributable to more bunkering jobs being secured to provide LSFO as a result of the IMO 2020 sulphur cap effective 1 January,’ it said.
Markets able to balance with an extension of OPEC cuts through 2020 due to demand from IMO 2020 regulations.
Developer receives permits, signs construction contracts, secures funds to build 1.3 million cbm tank terminal.
ACRA has made findings of ‘suspected breaches of the Companies Act’ after extensive financial review for the financial years of 2012 to 2016.
Orders two 8,500 dwt bunker tankers from Dayang Offshore Equipment, with option for additional two.
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.
