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Sembcorp Marine, Marco Polo Marine Head to Arbitration Over Rig Contract Dispute
Singaporean rig builder Sembcorp Marine is headed to court to settle a dispute with Marco Polo Marine over the termination of a $214.3 million jack-up rig construction contract signed in February 2014....
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Mothballed Ships in Southeast Asia Show Pain Inflicted by Oil Slump
By Aradhana Aravindan and Keith Wallis SINGAPORE, May 31 (Reuters) – Not everyone in shipping is bemoaning the industry’s worst crisis in living memory: a cluster of companies that help preserve...
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Keppel, Shell Form LNG Bunkering Joint Venture in Singapore
Singapore’s Keppel Corporation said Thursday it has entered into an agreement with Royal Dutch Shell to form a joint venture company, which will establish a liquefied natural gas bunkering business in...
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Iranian Supertanker Collides With Giant MSC Boxship in Singapore Strait –...
An Iranian Very Large Crude Carrier and a large containership collided in the busy Singapore Strait late Wednesday night, causing damage to both ships but luckily no injuries or reports of major...
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Collapse of Penny Stock Swiber Holdings Riles Singapore Oil Hub, Banks
By Kyunghee Park and Chanyaporn Chanjaroen (Bloomberg) — With a market value of S$50 million ($37 million), Swiber Holdings Ltd. hardly seemed the kind of company to cause a ripple in the financial...
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Singapore Strait Collision: Overboard Containers Retrieved
Authorities in Singapore have cleaned up the Singapore Strait following a collision between an Iranian supertanker and a giant MSC containership last week, which resulted in major damage to both ships...
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Swiber Troubles Show Urgency Needed in Fixing Debt, Adviser Says
By David Yong and Andrea Tan (Bloomberg) — Singapore’s offshore oil services companies and marine engineering firms are leaving it too late to reorganize finances to survive an industry slump, raising...
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More Swiber Fallout as Debt Panic Hammers Singapore Banks
By Jonathan Burgos (Bloomberg) — The recent drubbing in Singapore bank stocks is turning Southeast Asia’s biggest lenders into bargains for money managers including Aberdeen Asset Management Plc. DBS...
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Why China’s Plan to Build a Nautical Silk Road Runs Through Singapore
As the son of a man who journeyed from China to Singapore and founded a shipping business a half century ago, Teo Siong Seng sees his life as one immersed in the ancient trading networks of Asia. So...
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Singapore & Malaysia Are Drowning In Oil Debt
by David Yong & Denise Wee (Bloomberg) Singaporean companies struggling to meet debt obligations as oil prices slump may get more support from the government if the economy deteriorates further,...
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Fully Laden VLGCs Gather Off Singapore
By Seng Li Peng Tankers full of liquefied petroleum gas (LPG) are gathering off Singapore waiting for buyers as a flood of supply from the U.S. and Saudi Arabia has outpaced demand for the fuel, trade...
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Singapore’s Marco Polo Marine Seeks to Delay Bond Payment Amid Business Review
by David Yong (Bloomberg) — A Singapore provider of barges and tugs for coal, steel scrap and iron ores plans to ask bondholders for approval to delay paying S$50 million ($37 million) of securities...
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Singapore Shipbuilder Otto Marine Says Creditors Seeking to Wind Up...
By David Yong (Bloomberg) — A Singapore-listed builder of ships that service offshore oil and gas facilities said some creditors are seeking to wind up its subsidiaries in Australia, adding to signs of...
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Rebound in Singapore’s Ezra Holdings Seen to Be Fleeting Amid Oil Industry Woes
By Jonathan Burgos (Bloomberg) — Ezra Holdings Ltd. is leading a rebound among Singapore oil-services providers this month, after bearish bets pushed the company’s shares to all-time lows. The rally...
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Fishermen, Coast Guards Worry Singapore Most in South China Sea
By Rosalind Mathieson (Bloomberg) — The risk of a clash in the South China Sea lies with non-military ships, Singapore’s defense minister said, as China deploys more heavily armed coast guard vessels...
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Singapore Junk Bonds Slump as Chartering Group Swissco Seeks Restructuring
By Netty Ismail and David Yong (Bloomberg) — Singapore’s junk-bond market is suffering its worst rout in at least four years as debt restructurings spread among shipping and oil-and-gas service...
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Singapore Court Grants Judicial Management to Swiber
By David Yong (Bloomberg) — Swiber Holdings Ltd., the Singapore-based firm that roiled the local bond market when it defaulted in August, has been put under judicial management while it reorganizes...
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Singapore’s $24 Billion Wipeout Eats Into City’s Shipyard Base
By Jonathan Burgos, Angus Whitley and Kyunghee Park (Bloomberg) — Customers have dwindled by the week at Indian Masala Hut, a curry stall in Singapore’s shipyard heartland. Manager K. Muralidoss blames...
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Singapore Strains Mount as ASL Marine Seeks to Issue Shares
By Denise Wee (Bloomberg) — Strains are spreading in Singapore’s debt market as more firms in the maritime sector with borrowings coming due grapple with the slump in global trade and energy prices....
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Singapore Considers Measures to Help Struggling Marine Sector
SINGAPORE, Oct 31 (Reuters) – The Singapore government is considering whether to help the city-state’s marine and offshore engineering (M&OE) sector, which is facing a prolonged downturn due to the...
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