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We will not owe the supplier fuel and fuel, there is no arrest! Zhang Songsheng, Managing Director o

  • Author:Kyrie
  • Source:Search Air
  • Release Date:2020-01-14
    Shenzhen Sunny Worldwide Logistics Co., Ltd.The marketing department learned:

  A few days ago, the media broke the news that due to the delay in payment to the fuel supplier, Taiping Shipping faces the tight supply of low-sulfur oil and the ship may be detained.

  According to relevant media sources, a report from shipping consulting and analysis agency Alphaliner shows that several vessels operated by Singapore shipping company Taiping Shipping are waiting for fuel suppliers to supply them with low-sulfur oil. Alphaliner said that due to a lack of compliant fuel, as of January 7, Taiping Shipping had six vessels idle in Singapore.

The maritime media "Lloyds Daily" reported that due to the slow payment process of Taiping Shipping to fuel suppliers and delays, at least one supplier is considering detaining Taiping Shipping, and other suppliers have stopped. Cooperation with Taiping Shipping.

However, Zhang Songsheng, the managing director of Pacific Shipping, gave a positive response to the series of reports that the ship was detained due to arrears with the fuel supplier.

According to an open letter written by Zhang Songsheng to the editor of Lloyd's Daily, Taiping Shipping has not received any legal claims from the suppliers, which indicates that no ship has yet been arrested by justice. At the same time, Taiping Shipping has a regular dialogue with all suppliers, they understand the market's difficulties, and Taiping Shipping promises to pay all suppliers in a timely manner. Taiping Shipping is confident that its suppliers will continue to support the company's development.

大多数 Most of the previously delayed ships have returned to normal

Regarding the IMO 2020 low-sulfur marine fuel oil regulations, Zhang Songsheng said that the schedules of some ships of Pacific Shipping have recently been delayed, and Pacific Shipping is working closely with marine fuel suppliers and other stakeholders to resume the normal plan as soon as possible. . "The delays at the beginning of this year have now eased, most of the vessels referred to in your article are now sailing, and our schedule is back to normal," Zhang Songsheng said.

Taiping Shipping will install washing equipment on 42 ships

Zhang Songsheng said in an open letter: "Because we have decided to invest heavily in washing towers, PIL's fuel problem" may worsen. "We are committed to installing scrubbers on 42 larger ships, which will cover almost half of our fuel consumption. It is understood that the installation time in some places is longer than expected.

However, by the second quarter of this year, when all scrubbers are installed on our ships, we will benefit greatly because the price difference between 0.5% sulfur fuel and high sulfur fuel oil is larger than expected.

We take a strategic position on this, and we believe that once all ships equipped with scrubbers are put into use, we will benefit a lot. "

Zhang Songsheng responded to the suspension of Taiping Shipping's bonds in 2017:

You mean that the planned 2017 USD bond issuance has been suspended. In fact, PIL fully redeemed S $ 300 million of bonds in July 2017, and we also issued S $ 60 million of bonds in November 2017. Despite market difficulties, we have fully subscribed. In 2018, we explored the idea of ​​U.S. dollar bonds, but due to the unfavourable market environment at the time, we postponed the plan.

班 Liner shipping has been in difficult times for the past few years, but PIL has overcome these challenges. We and other liner companies are now in a good position to benefit from the market recovery. We remain optimistic about our business and industry prospects.

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