Company Briefs: Sinanju Tankers Holdings

Sinanju Tankers Holdings

ExxonMobil Asia Pacific and the tanker operating arm of Singapore's Sinanju Tankers Holdings have entered into a two-year time-charter agreement for a new-build bunker tanker.

Soon to be christened Marine Vicky, the vessel will be the first bunker tanker powered mainly by liquefied natural gas (LNG) to be deployed in Singapore waters, Sinanju announced yesterday.

The tanker will deliver ExxonMobil's new low-sulphur marine fuels to ocean-going vessels within Singapore port limits, starting from the first quarter of next year.

Registered vessels that are serviced by alternative or cleaner marine-fuelled harbour crafts during their port stay - like receiving bunker from LNG-powered tankers - stand to receive a 10 per cent port dues concession under the Maritime Singapore Green Port Programme.

Sinanju is also preparing to embark on ship-to-ship LNG bunker deliveries from 2021.

Marine Vicky has a carrying capacity or dead weight tonnage of 7,990 tonnes. It is 103m long and 19m wide, equipped with a 55 cubic m LNG tank paired with a fuel gas supply system on deck for engine propulsion.

The vessel is being built at Keppel Offshore & Marine's shipyard in Nantong, China, under the Maritime and Port Authority of Singapore's LNG bunkering pilot programme.

Silkroad Nickel

Catalist-listed Indonesian nickel miner Silkroad Nickel is set to partner Shandong Xinhai (Singapore), a subsidiary of Chinese nickel alloy producer Shandong Xinhai Technology, to build and operate a ferronickel smelter facility in Indonesia.

They plan to develop a rotary kiln electric furnace (RKEF) to produce up to 400,000 tonnes of ferronickel.

Silkroad Nickel said on Thursday night that it had inked a non-binding memorandum of understanding with Shandong Xinhai.

Both parties will work towards the signing of definitive agreements before the year end.

Under the agreement, Silkroad Nickel will supply the nickel ore required to operate the smelter, on terms to be agreed separately.

It will be responsible for obtaining the necessary permits and licences, as well as obtaining and managing the land required for the smelter. It will also design, procure, develop, construct and operate the smelter.

A feasibility report and due diligence on the RKEF project will need to be completed by both parties.

Shares of Silkroad Nickel last traded on Tuesday at 20 cents.

A version of this article appeared in the print edition of The Straits Times on August 17, 2019, with the headline 'Company Briefs: Sinanju Tankers Holdings'. Print Edition | Subscribe