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ABS and MPA to collaborate on maritime R&D

ABS and MPA to collaborate on maritime R&D

Singapore: American class society ABS and the Maritime and Port Authority of Singapore (MPA) havesigned a memorandum of understanding (MOU) to promote maritime research and development (R&D) and innovation. Over the next five years, ABS and MPA will collaborate on maritime R&D in the areas of alternative/clean fuel and developing resilient, next-generation port systems.

BW Offshore acquires Yinson FPSO stake

BW Offshore acquires Yinson FPSO stakeSingapore: BW Offshore announced yesterday that it has signed an agreement with Yinson to take 100% ownership of the FPSO vessel Petroleo Nautipa. The FPSO vessel is jointly owned by BW Offshore and Yinson through a joint venture ...

Dry bulk recovery coming in Q4: Hashim

Dry bulk recovery coming in Q4: HashimBangkok: Khalid Hashim, managing director of Thailand’s Precious Shipping, reckons dry bulk’s recovery is set for the final quarter of this year, and the bottom of the next cycle could be about five years away. Speaking with our ...

Empties to be shifted out of Manila

Empties to be shifted out of ManilaManila: The government has moved to try and handle the congestion at the Philippine capital’s ports. Empty containers are to be moved out of Manila’s terminals. The empties will be shifted to Subic Bay and Cavite. The governme...

PIL founder joins Singapore’s billionaires club

PIL founder joins Singapore’s billionaires clubSingapore: Who said container shipping was still in the doldrums? A notable new addition to Forbes’ Singapore rich list is the founder of Pacific International Lines (PIL). The billionaires club in Singapore expanded by five fro...

Boustead to build yard in Port Klang

Boustead to build yard in Port KlangKuala Lumpur: Boustead Holdings is buying Port Klang Cruise Centre (PKCC) and nine parcels of land around the area for RM310m from receivers and managers of the properties, in a move to expand its oil and gas investments.

Manila’s congestion woes stir debate

Manila’s congestion woes stir debateManila: Shippers continue to voice their displeasure at congestion at ports in the Philippine capital, saying it is making exports uncompetitive. Sergio Ortiz-Luis, president of the Philippine Exporters Confederation (PhilExport),...

Joko’s sea toll plan could see 10 new ports built

Joko’s sea toll plan could see 10 new ports builtJakarta: President-elect Joko Widodo is coming to power promising a dramatic build-up in the archipelago’s maritime infrastructure. Part of Joko’s plans call for so-called sea tolls — a network of deep-sea ports across the n...

Samudera vows to keep cutting fleet size

Samudera vows to keep cutting fleet sizeSingapore: Despite announcing a return to profits in the second quarter Samudera Shipping has vowed to keep cutting back its fleet size. In an announcement to the Singapore Exchange, Samudera expects operating conditions for containe...

Semco Maritime and PetroVietnam Marine Shipyard form Vung Tau Rig Services

Semco Maritime and PetroVietnam Marine Shipyard form Vung Tau Rig ServicesΗanoi: PetroVietnam Marine Shipyard (PV Shipyard) and Semco Maritime have entered into a strategic partnership with the aim to perform rig repair, rig refurbishment and rig upgrades in Vietnam for local and international rig operato...

Vinalines cues up more IPOs

Vinalines cues up more IPOsHanoi: Despite limited response from earlier IPOs, Viet Nam National Shipping Lines (Vinalines) has announced plans for initial public offerings (IPOs) for five more port operators by the end of the year. Cam Ranh, Nghe Tinh, Can ...

Khlong Yai port due to open next July

Bangkok: A new Thai deepsea port in Trat's Khlong Yai district will be up and running in July next year as scheduled. The Bt1.3bn port will serve as a cargo hub between Thailand, Cambodia and Vietnam. Khlong Yai is also one of the first five spe...

Barge victim’s family want answers

Singapore: One of the three dead from Friday’s barge sinking off Batam should not have been onboard the vessel, his family claim. Singaporean national Terence Chew Zhi Wei, 31, worked in marketing for Pacc Offshore Services Holdings, which was c...

Ezion sells off businesses to AusGroup

Singapore: Offshore operator Ezion Holdings has agreed with AusGroup to sell subsidiaries Ezion Offshore Logistics Hub and its 90% stake in Teras Australia for S$55m. Ezion Offshore Logistics Hub operates a port and a marine supply base while Tera...

Sinwa creates barge jv

Singapore: Ship chandler Sinwa has entered into a joint venture agreement with Ms. Ee Kim Hong to set up a 50:50 joint venture in SB Barge to provide services to Sinwa’s and other local ship chandlers for delivery of goods at anchorage.

Swissco buys rig operator

Singapore: Swissco shareholders have approved the acquisition of Scott and English Energy for S$285m. Scott and English Energy is in the business of owning and leasing mobile offshore drilling units and service rigs to support major oil and gas co...

Pelindo II wants greenbacks back

Jakarta: State-run port operator Pelindo II, also known as the Indonesia Port Corporation (IPC), has asked the coordinating economic minister to change its ruling obliging seaports to cease the use of US dollars in transactions with customers.

Jakarta’s mineral export ban weakens

Jakarta: Further signs of the weakening in Indonesia’s mineral ore export ban has emerged with news that two smaller miners are shipping commodities overseas despite being hit with large export taxes. PT Sebuku Iron Lateritic Ore and PT Lumbung ...

PSA invests for next generation

Singapore: PSA Corporation and the Institute of Technical Education (ITE) have signed a memorandum of understanding (MOU) worth over $2m to equip ITE students with a deeper understanding of container port operations and technology. Held at PSA Bui...

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In Focus

How to beat the pirates

As the region becomes the global hotspot for piracy Sam Chambers identifies how best to combat the scourge

How to beat the pirates

Piracy around the Malacca Straits is very much back in the news, with the United Nations saying the region has now surpassed West and East Africa to become the global hotspot for piracy. In particular, small product tankers have been targeted by robbers in the past three months. In the final week of June alone there were five reported incidents. 

Piracy in Southeast Asia is nothing new. What is new, however, is the jump in numbers and the very specific targeting of certain types of ships. 

This spike in hijacking and cargo theft has been brought about by the black market demand for marine fuel oil in Southeast Asia, says Steve McKenzie, a senior analyst at the UK firm, Dryad Maritime. There have been crimes similar to these for many years, the majority of which were from bunker barges and small tankers with only small amounts of fuel being stolen.   A large number of these incidents went unreported, however, over the last three or four years reporting of these incidents has increased as the criminals have targeted larger vessels. The common denominator for all of these hijackings and cargo theft incidents this year has been Singapore.  All the vessels that have been targeted had prior to being boarded called at Singapore, McKenzie notes.

“The stealing of oil products in the region is targeted product theft, which results in the stolen cargo being sold on the black market,” says Gerry Northwood, the coo of security firm, GoAGT.

Recent successful hijacks of tankers whilst underway, coupled with a rise in the average number of pirates involved in a single attack may suggest a partial evolution in the typical trends of the industry, notes Harry Pearce, an intelligence analyst at Ambrey Risk

“We assess that these crimes will continu ...   More>>