Daily Briefing: Pavilion Energy unveils first ship-to-ship LNG refuelling operation; SilkAir offers non-stop flights to Busan

And the STI jumped 5.8% in April.

From Reuters:

Pavilion Energy has performed the first commercial ship-to-ship (STS) liquefied natural gas (LNG) refuelling operation in the port of Singapore, the company said.

The operation included loading 2,000 cubic metres of LNG onto a small-scale tanker at the Singapore LNG (SLNG) Terminal, followed by an STS transfer to a receiving heavy-lift commercial vessel, Pavilion Energy said in a statement on Thursday.

The use of LNG as a marine or bunker fuel has grown amid tightening regulations on global shipping emissions.

Pavilion Energy is a Singapore-based LNG company incorporated by state-owned Temasek Holdings to invest in clean energy.

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From ChannelNews Asia:

SilkAir completed its inaugural non-stop flight to Busan on 2 May, marking the launch of its flight services to the South Korean city.

Flight MI876 departed Changi International Airport on 1 May at 11.37pm Singapore time and arrived at Gimhae International Airport at 7.07am local time (6.07am Singapore time) the following day.

The airline said in a press release that the Singapore-Busan route will be served four times weekly, departing Singapore on Mondays, Wednesdays, Fridays and Sundays.

The flights are currently operated with SilkAir’s Boeing 737-800 aircraft. The airline had said in an announcement in February that the Boeing 737 MAX 8 will be used, but the plane model has since been grounded.

Read more here.

From Motley Fool:

Last month, the Straits Times Index (SGX: ^STI) added 187 points, or 5.8%, to end at 3,400.2. There were 22 index components that were in the green; seven were in the doghouse while CapitaLand Commercial Trust (SGX: C61U) finished unchanged.

The latest earnings season started with Singapore Press Holdings Limited’s (SGX: T39) subsidiary SPH REIT (SGX: SK6U) with its second-quarter operating revenue fell 4.4% YoY to $223.3m while net profit plunged 25.7% to $29.7m.

The stock that gained many times more than that of Singapore Press Holdings was Singapore’s biggest bank, DBS Group Holdings Ltd (SGX: D05), emerging as the biggest winner of the index. Shares in DBS surged 12% over the month, to S$28.25, with a robust set of first-quarter results driving gains.

Read more here.