Excess capacity in shipping and offshore will not go away “in a hurry” due to the sectors having witnessing a prolonged period of having access to “too much cheap money”, according to Piyush Gupta, ceo of DBS Group.
The Singapore Shipping Association (SSA) is working towards boosting Singapore’s debt and equity markets with the launch of a Maritime Capital Forum later this year, as part of a wider blueprint for growth in various key areas in 2017.
Rickmers Maritime is being wound-up after failing to agree a financial restructuring.
The steep drop in the price of oil and resultant de-couupling of the link between crude and LNG prices could be the spark that the clean burning gas needs to explode in popularity and result in the development of a true Asian gas market while shipping will play an integral role in this, speakers at Marine Money's 10th Hong Kong Ship Finance Forum said.
KS Energy has informed that its executive chairman/ceo and executive director have been questioned by Singapore’s Commercial Affairs Department (CAD), the white-collar crime investigation agency of the Singapore Police Force.
Singapore Exchange (SGX) and Tullett Prebon have successfully launched a liquefied natural gas (LNG) spot index for Dubai, Kuwait and India (DKI).
The Baltic Exchange has outlined changes to its indices reflecting the growth in sizes of vessels.
Beleaguered Singapore shipping trust Rickmers Maritime has until 15 April to present a revised restructuring plan to its main financier HSH Nordbank.