Lankayan Ventures sells stake in Westports Holdings

Lankayan Ventures sells stake in Westports Holdings

Kuala Lumpur: Lankayan Ventures has sold its stake in Malaysia-listed container terminal operator Westports Holdings. The subsidiary of Khazanah Nasional offloaded its stake in Westports on October 24, when some 161.5m shares were offered in the sale.

Chevron Indonesia signs up Technip for huge subsea contract

Chevron Indonesia signs up Technip for huge subsea contractJakarta: Chevron Indonesia has awarded a “substantial” subsea contract to Technip for the supply of engineering and equipment to its Bangka Development, located in the Rapak PSC area, approximately 70km offshore from East Kaliman...

Direct Search Asia launches in Singapore

Direct Search Asia launches in SingaporeSingapore: Last night over 100 executives from Singapore's maritime and offshore industry attended the launch of Asia’s newest recruitment firm Direct Search Asia. The event was hosted by Direct Search Asia managing director, Ja...

Tonnage hunt for Straits Auto Logistics

Tonnage hunt for Straits Auto LogisticsSelangor: The boss of Straits Auto Logistics, the roro player within Malaysia’s Giga Maritime Group, has told our sister site he is on the look out for further ships. The company took delivery of its latest roro, Grand Vision, last...

ClassNK looks at establishing marine renewable energy testing facility

ClassNK looks at establishing marine renewable energy testing facilitySingapore: Japanese classification society ClassNK is launching a feasibility study for a new marine renewable energy testing facility to be built in Singapore. The announcement was made at the 2014 Asian Clean Energy Summit held in ...

Floating tidal energy platform debuts

Floating tidal energy platform debutsAmsterdam: A group of offshore companies including Bluewater, Damen and Van Oord have joined together to realise a unique floating tidal energy platform which will be moored near Texel in the Waddenzee in the Netherlands and generate...

Hanoi urges ports to up fees

Hanoi urges ports to up feesHanoi: The government has stressed to local ports that fees are already too low and the ports should not feel pressurised by shipping lines to lower their charges further. Vietnam’s ports are already suffering, most posting loss...

Indonesia must reduce logistical costs, says new minister

Indonesia must reduce logistical costs, says new ministerJakarta: Reducing Indonesia’s high logistics costs is one of the main goals of the country’s new Transportation Minister, Ignasius Jonan. Jonan aims to bring costs down by increasing the number of vessels and developing interm...

WSS appoints new Ships Agency Manager for Singapore

WSS appoints new Ships Agency Manager for SingaporeSingapore: Wilhelmsen Ships Service (WSS) has appointed Jason Chin as Ships Agency Service Manager, Singapore. Chin has over 15 years’ experience in the maritime and shipping industry, and will lead a team carrying out over 3,70...

NOL’s sale process of APL Logistics underway

NOL’s sale process of APL Logistics underway Singapore: Neptune Orient Lines is looking to raise as much as $1bn from the sale of its supply chain subsidiary, APL Logistics, according to a report from newswire Bloomberg. NOL has sent out sale documents to a number of possible b...

Details emerge from fiery Malaysian collision

Details emerge from fiery Malaysian collisionKuala Lumpur: Investigations continue in to a very high profile and fiery collision between two big boxships at Westports in Port Klang on Tuesday. Initial reports suggest the 8,700 teu San Felipe vessel, managed by Bernhard Schulte,...

Former Sembcorp Marine finance director jailed for accounts fraud

Singapore: Sembcorp Marine’s former group finance director was today sentenced to 39 months in prison for falsifying the accounts of the group’s Jurong Shipyard. Wee Sing Guan used the accounts to cover up some S$300m in trading losses that he...

Investigators chase bulk carrier accused of sinking fishing vessel

Hanoi: Vietnamese authorities are investigating an incident that took place off Danang on October 26 where a Liberian flagged ship is reported to have rammed and sunk a fishing boat and then fled the scene. Crew from the fishing vessel are being i...

Perdana Neptune sells offshore support vessel

Kuala Lumpur: Perdana Neptune, a subsidiary of Malaysia-listed Perdana Petroleum, has sold an offshore support vessel (OSV) to Hauston Limited for RM 93.5m ($28.5m). The sale is part of Perdana Neptune’s fleet renewal programme.

Carnarvon Hibiscus signs rig-share for offshore Australia prospect

Kuala Lumpur: Carnarvon Hibiscus has signed a rig-share agreement with Origin Energy Resources for the drilling of an exploration well located in VIC/P57, offshore Australia. Origin intends to drill two wells before handing over the rig to Carnarv...

Two containerships ablaze after collision at Westports Malaysia

Kuala Lumpur: Reports are emerging that two fires broke out this evening due to a collision between two container vessels at Malaysia’s Westports terminal. Port Klang Fire and Rescue Services Department received an emergency call around 8.00pm a...

Petredec to charter three vessels to Oriental Energy

Shanghai: Chinese energy firm Oriental Energy has announced that it has signed a 10-year time charter contract with Singapore’s Petredec for three 84,000 cu m VLGCs, taking the company’s VLGC fleet to 13 vessels. The annual charter rate for ea...

Marine Contracting moves into Australian offshore market

Singapore: Singapore-based offshore marine firm Marine Contracting has announced a move into the Australian market, opening an office in Perth and yard in Karratha. The new setup will be led by Petter Nilsen, formerly of Viking Moorings, and provi...

PVEP signs exploration MOU with ONGC

Hanoi: Petrovietnam Exploration Production Corporation (PVEP), a wholly-owned subsidiary of Petrovietnam, has signed a Memorandum of Understanding (MOU) with India's Oil and Natural Gas Corporation Limited (ONGC) for mutual cooperation on exploration...

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In Focus

Go with the flow? No way!

As part of SeaShip News’s just published bunkering magazine a man tasked with buying ship fuel for a large fleet reveals his gripes about the bunkering industry

Go with the flow? No way!

We have come a long way from the gun slinging days of bunkering. Or have we? Gangsterism. Steal for pleasure. Entrap the engineer. Fool the naive ship owner. 

The new global structure of supply and demand, quality and quantity focus, regulatory compliance, environmental pressure have all resulted in an industry that is increasing complex yet offers a control mechanism if you are willing to pay for it. It gives operators the choice we need. We understand Caveat Emptor.

But the recent chatter on mass flow metering seems to have taken a demonic life of its own. Like as if we have suddenly been visited by God Himself to solve this issue with His own God flow meter which measures everything perfectly. Hail God flow meter.

When once we all believed in good ol’ fashioned measurements, suddenly the whole world is denouncing this as an epidemic. How do you pour yourself the correct quantity of a glass of wine? Want to use a complicated piece of vibrating technology to measure it? Keep it simple I say.

Our good oil companies, who have used this simple and tested method of human touch for decades, are now out in force denouncing it. I wonder if this is purely to seek the economic advantage of selling us more for the same old bunker fuel? Make hay while the sun shines. Go with the flow.

Don’t get me wrong. Support technology, I will. Fit mass flow meters on my ships I may. But to tell me my ship tank measurements do not matter is forgetting that it is I who is doing the buying. It is I who have the foresight of experience. It is I who have the dollars. I will most surely insist that my ships check their bunker fuel quantities received every time. Now and in the distant future. When I am paying one million bucks for refueling my ship every time, please don’t tell me how I should measure this or that or not. You do your check, I do mine. It is my dollars. It is my decision. I am the buyer. More>>