World News
Saga Shipholding Transfers Entire 32-Vessel Fleet to Bahamas Flag
In a major boost for the Bahamas Maritime Authority (BMA), Saga Shipholding has transferred its entire fleet of 32 vessels to the Bahamas flag.
The move includes 30 general cargo ships managed by Anglo-Eastern under NYK - Japan's largest shipping company - and two additional vessels overseen by NYK Singapore, BMA said in an emailed statement on Tuesday.
The full-fleet transfer marks a significant milestone for the Bahamas, increasing its registry's gross tonnage by 1.56% and enhancing its global standing as a preferred flag state.
BMA states that all vessels are well-maintained and possess strong port state control records.
The vessels have been transferred in phases, with the final three ships expected to complete the transition by the end of June 2025.
"This is more than just a fleet addition, it's a vote of confidence in our team, our systems, and our service values," Captain Dwain Hutchinson, CEO of BMA, said.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 554.00 | 1.00 | 668.00 | 8.50 |
| Rotterdam | 512.50 | 7.00 | 677.50 | 10.50 |
| Houston | 529.50 | 8.00 | 686.50 | 11.00 |
| Fujairah | 546.00 | 6.50 | 736.50 | 8.50 |
| Global 20 Ports Average | 566.00 | 6.50 | 758.50 | 14.50 |
| Global 4 Ports Average | 535.50 | 5.50 | 692.00 | 9.50 |
| Global Average Bunker Price | 598.00 | 6.00 | 794.50 | 12.00 |
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