Oceanconnect News

Marine fuel services and solutions provider KPI OceanConnect has completed its first simultaneous operation of LNG bunkering in Singapore.KPI OceanConnect conducted the operation for MSC Mediterranean Shipping Company’s Monica Cristina vessel in Singapore, using membrane LNG bunker vessel Brassavola on charter with Pavilion Energy.The operation took place at Tuas Container Terminal, along with loading and unloading procedures, improving efficiency.“KPI OceanConnect is proud to work with industry leaders like Pavilion Energy and MSC Mediterranean Shipping Company to accelerate the development o

Yang Ming Marine Transport is adopting sustainable biofuel for its fleet, starting at Hong Kong and Singapore, and will now incorporate biofuel into its annual fuel consumption on an on-going basis.The adoption of biofuel began with Yang Ming’s 1,805 TEU class container ship, YM Inception, and 6,600 TEU class container ship, YM Masculinity. These vessels are currently deployed on the Japan to/from Taiwan, Hong Kong, Vietnam and Thailand service and the Far East to/from Middle East service…

Marine energy provider KPI OceanConnect has announced a new management structure and key regional appointments to support the delivery of its partnership approach for customers.The new structure will see the leadership of its trading business divided into regions covering APAC, EMEA, and Americas. New regional leads have been promoted from KPI OceanConnect’s existing management team. Thomas Lee is promoted to Head of APAC, and James Enston to Head of EMEA.Brian Coyne will continue in his current role as Head of Americas.

Marine fuels services provider KPI OceanConnect announced Tuesday it has appointed industry expert Boris Gronenberg as Managing Director of its Hamburg operations.KPI OceanConnect’s Hamburg office is located at the heart of Hamburg’s shipping community and is one of 16 in the recently merged group.“Joining KPI OceanConnect at this time is very exciting,” Gronenberg said. “The recent merger of KPI Bridge Oil and OceanConnect Marine has created one of the largest and most experienced independent marine fuels service and solutions providers in the world.

KPI Bridge Oil announced it has agreed to acquire OceanConnect Marine, creating one of the largest independent marine fuels service and solutions providers in the worldSubject to the receipt of regulatory approval, the two companies will merge to form a new brand and entity, KPI OceanConnect, with a team of 170-strong operating across 15 locations globally.It is envisaged that KPI OceanConnect will be led by CEO Søren Høll – KPI Bridge Oil’s current CEO - supported by an experienced and diverse management team stemming from both organizations.Søren Høll…

SGX Mainboard-listed Chemoil (SGX-ST: CHEL.SI), supplier of marine fuel, announced its acquisition of OceanConnect Holding’s (OCH), marine fuel business. The purchase price as agreed by both parties is expected to be approximately $25m and took into account factors such as the marine fuel business’ historical and future earnings potential. The deal includes the acquisition of OCH’s marine fuel business, its independent online bunker auction portal, and a team of experienced bunker brokering and trading employees and staff in the United States…

Booz Allen Hamilton concludes that OC is bringing efficiencies to the marine industry. OceanConnect.com, the global marketplace for the purchase and sale of marine fuels, today that management and technology consultancy Booz Allen Hamilton has entered into a letter of intent to become an equity partner in OceanConnect. The announcement follows OceanConnect's news that it has reached the million-ton milestone for bunkers sold. "In our work with oil and gas companies, we have seen how the introduction of new business channels such as OceanConnect can lead to advantaged supply chain management and back office integration. After reviewing their performance record and product development plans…

OceanConnect has attracted the largest independent fuel supplier as a new equity partner. OceanConnect President Thomas Reilly announced that Chemoil Corporation has acquired an equity stake and is using OceanConnect as its exclusive online system for buying and selling fuels. Chemoil Group is the world's largest independent fuel supplier, selling over 12 million tons of fuel annually through complete bunkering services in the ports of Los Angeles, San Francisco, Houston, New Orleans, New York, Antwerp, Rotterdam and Singapore. "OceanConnect's traditional brokers provide the information and reliability that's vital in the marine industry, while their unique technology finds the best possible deal for buyers and suppliers alike.

Clarksons announced that it is increasing its equity share in OceanConnect following OceanConnect's acquisition of the Clarksons Bunker Group. The move adds five professional fuel brokers to OceanConnect's London group, making it one of the largest brokering teams in London. OceanConnect UK Ltd, OceanConnect's London affiliate, will handle all bunker transactions previously serviced by Clarksons Bunker Group. "Clarksons and OceanConnect began a joint marketing and services agreement in March 2001. a superior brokering service. The results were outstanding. By working together, we moved beyond brokering. Reilly said.

Dampskibsselskabet Norden, one of the world's oldest and largest ship owners, has joined OceanConnect as a new equity partner. Norden Senior Vice President Carsten Mortensen said that, "We established this partnership because OceanConnect has provided Norden with benefits far beyond traditional fuel brokering. The savings to date have been tremendous. In light of these results, we wanted to partner with the company that is changing the way bunkers are purchased." "We have been using OceanConnect for over a year, and we are saving money on fuel, our largest variable cost. We're acquiring equity because we know the value of OceanConnect's service," Norden Vice President Jacob Meldgaard said.

OceanConnect announced that it has attracted MarineProvider ASA as another new equity partner. The news comes shortly after announcements that Chemoil Corporation and DS Norden AS have acquired equity in OceanConnect, and OceanConnect's acquisition of the Clarksons Bunker Group. "Proven savings combined with personal service is OceanConnect's formula for success. Having seen what OceanConnect can do for ship owners, our board of directors felt that owning equity would strengthen MarineProvider's investment portfolio," MarineProvider CEO Collin Lewis said.

OceanConnect offers complete global coverage through our traditional fuel services, and online competition in more than 180 ports. For more information about bunkering in Port Tanjung Pelepas (PTP) or any other port worldwide, contact an OceanConnect fuel expert in one of OceanConnect’s offices or email [email protected].

Bob Fitzgerald, founder of Bunkerfuels, will join OceanConnect's senior management team, effective April 15, 2002. Fitzgerald, who founded Bunkerfuels Corporation in 1978 and quickly led it to a world leadership position, sold the company in 1999, when Bunkerfuels handled over 10 million tons of marine fuel inquiries and closed approximately 6.5 million tons from office locations in the United States, Korea, England and Brazil. Fitzgerald's experience also includes 11 years of service in Chevron's production, drilling and bunker divisions and eight years as manager of the bunker department for ship charterer Charles R. Weber Company.

When Texaco, now represented in the marine lubricants market by FAMM (Fuel and Marine Marketing), launched Taro 40 XL 40, the lubricant was designed to address pressing field problems in medium speed engines. Three years later FAMM is in a position to evaluate the performance in a large number of engines and to compare the field results with competitive lubricants. The pressing problems arose from a series of engine design and fuel processing changes. Although aimed at improving engine efficiency and making savings, the changes resulted in a series of difficulties. The best known are engine blackening, undercrown deposits, piston head corrosion, fouling of purifier heaters, increased oil consumption, base number depletion, oil scraper ring clogging and increased piston deposits.

The bunker industry is witnessing interesting times. Throughout the last 12 months, prices have doubled for many grades of fuel, reaching unparalleled levels. At the same time, the industry has seen the launch of the first serious Internet-based marine fuels sales operations. While apparently unconnected, both developments have had a similar effect on the industry. They have underlined the importance of training and education for those in the bunker business. Without knowledge, those working in marine fuels, purchasers in particular, will not be able to face up to the challenges of high prices and electronic trading. The sharp increase in bunker prices during the last year is in stark contrast with what was going on immediately prior to the rise.

OceanConnect.com, the global e-commerce marketplace for the purchase and sale of marine fuels and products, began operations on July 25 as the first step in a 90-day launch period. Initial transactions will be for delivery in the Rotterdam/ARA area (The Netherlands). Transactions for delivery in Singapore, Fujairah, and the U.S. will follow shortly. At the conclusion of the launch period, OceanConnect.com will be able to facilitate transactions from simple bids to reverse auctions, blind bids, swaps, futures and derivatives. Principal benefits to buyers will include greater market liquidity and productivity improvements. Suppliers, meanwhile, can significantly improve their market base.

Analysts, pundits, skeptics and just about anyone with a two-bit opinion have voiced their thoughts — informed and otherwise — as to the potential effects that the surge in “e-commerce” solutions will have on the transportation community at large. While the marine market is traditionally said to be slow in following general business trends, this supposed character trait has not been evident in the new electronic realm, as websites and on-line business portals covering nearly every niche of the industry are popping up quickly around the globe. The questions surrounding the use of e-commerce solutions in the marine business now turn not to “when” and “if…

Much as has transpired in mainstream consumer markets, the dot com craze has recently enveloped the maritime world with promises of cost savings and operational efficiencies. While an attrition and natural process of consolidation can eventually be expected, the world of e-commerce solutions for the maritime market is definitely in its infancy. While it is impossible to judge the full working models in this report, the following text contains synopsis reports on some of the more noteworthy market entrants. Recently launched by Boston-based WebPark Corp., Boat-Park.com is an on-line virtual trade show, which seeks to bring together worldwide participants into its virtual trade show, which is open 24/7.

OceanConnect.com, the global online marketplace for the purchase and sale of marine fuels, products and services has entered into a joint marketing and services agreement with integrated shipping services group H. Clarkson & Co., effective March 31. The operating alliance between the two companies combines the transparent marketplace of online auctions with the personal service and post fixture support of a leading marine fuel broker. This alliance, which offers a variety of new options transaction options, was developed in response to customer feedback. Several new transaction options are now offered, such as the ability to log on to OceanConnect.com and transact business without any further assistance.

OceanConnect.com, the independent online marketplace for the purchase and sale of marine fuels, products and services introduced an innovative feature called OceanConnect.com Credit Solutions. Through the website, up to $1 million of credit protection could be available per ship owner closing business on the OceanConnect.com site. OceanConnect.com Credit Solutions provides the opportunity for suppliers to be covered for losses due to insolvency or default by buyers. Coverage is provided by an underwriter rated "A+XV" by A.M. Best Company. When an auction is created, available coverage is calculated instantly and can be viewed by buyers and invited suppliers on the auction monitor. OceanConnect.com Credit Solutions provides benefits to both suppliers and buyers alike.

Venezuelan state oil company Petroleos de Venezuela (PDVSA) will begin selling bunker fuel via two Internet sites later this month, its first sales project across the Web, a company official said. PDVSA will offer fuel from its terminal in Freeport, Grand Bahamas Island to shipping companies via two industry Internet sites: www.oceanconnect.com and www.bunkerstem.com. "I believe that before the end of the month, in one or two weeks, we will be selling fuel (over the Internet)," a company official close to the project said. PDVSA hopes to expand the sales project later this year to sell bunker fuels from its other terminals on the Venezuelan coast.

Venezuelan's Petroleos de Venezuela (PDVSA) will begin selling bunker fuel via two Internet sites later this month, its first sales project across the Web, a company official said. PDVSA will offer fuel from its terminal in Freeport, Grand Bahamas Island to shipping companies via two industry Internet sites: www.oceanconnect.com and www.bunkerstem.com. "I believe that before the end of the month, in one or two weeks, we will be selling fuel (over the Internet)," said Rafael Vilagut, commercial support manager for the project. PDVSA hopes to expand the sales project later this year to sell bunker fuels from its other terminals on the Venezuelan coast. The company will also consider selling cargoes of other fuels via the Internet.

OceanConnect.com completed its first auction - just 72 hours subsequent to going "live" in Rotterdam/ARA. In its first week of operation alone, the site recorded 361,825 hits from more than 12 countries and four continents. The broker-initiated transaction included six Rotterdam suppliers, (both majors and independents) - lasted 15 minutes - resulting in a price well below that day's market lows. Officially launched in Rotterdam/ARA on July 25, the site had its first piece of action three days later when a broker logged on to create a reverse auction for fuel oil and diesel for delivery August 2. The broker then selected six bidders from OceanConnect's list of port suppliers - and upon setting the bid increments at $0.25 - sent the reverse auction process in motion.