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Towage and Salvage

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Latest From Towage and Salvage

Containership runs aground in Singapore Strait

The cause of the incident and the reason why the wreck of the sanctioned Shahraz has been left in location since May is unknown. However, two casualties clogging up the narrow waterway will make navigation far trickier than normal

Singapore Containers

Attacks on vessels being stoked by economic impact of coronavirus

Shipowners urged not to let guard down on piracy with the Singapore Strait back in the headlines after a spate of incidents. Jurisdictional issues complicate co-ordinated responses, but security sources say most crime is low-level and vessels that follow established protocols are unlikely to come to harm

Asia Pacific Singapore

PSA Marine seals Singapore’s first maritime sector green loan

The loan features an interest rate adjustment linked to an environmental, social and governance target which requires these vessels to be substantially deployed to support offshore wind energy-related activities. Banks such as DBS are keen to support traditionally carbon-intensive industries such as transportation in their transition towards more sustainable practices

Singapore Specialty

Wakashio owner appoints salvors for aft section

Initial processing work is scheduled to start in late December, and the final removal is expected to be completed next spring. Discussions regarding disposal are ongoing and Nagashiki will work closely with the Mauritius authorities. Collection of oil washed ashore on the Mauritian coast is expected to be completed by January 2021

Mauritius Casualty

Floating storage vessel off Venezuela lists, raising concerns of sinking

The US embassy in Trinidad and Tobago issued a statement saying US sanctions on Venezuela do not affect safety, environmental and humanitarian efforts. It urged immediate action to prevent pollution

Tankers and Gas Environment

US Gulf congestion fuels LNG price surge

Blockages to key approach channels to LNG plants in the US Gulf have coincided with an LNG winter demand uptick, which typically starts every October. With no certainty on when restrictions to access for deep-draft vessels will be lifted, Asian prices have risen 

US States Asia Pacific
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