Marine Fuel Suppliers News

Technology company ZeroNorth has signed a long-term strategic partnership with energy and commodity company Vitol.The deal will see Vitol gain full access to the ZeroNorth platform, and ZeroNorth customers will in turn gain access to Vitol’s carbon reduction solutions and bunkering services through subsidiary Vitol Bunkers.Vitol will use the ZeroNorth platform to optimise operations in a number of key business areas, including voyage, vessel, bunker and emissions optimisation…

Technology company ZeroNorth announced that it has acquired BTS PTE Ltd., a software platform for marine fuel suppliers, headquartered in Singapore.The deal will see ZeroNorth acquire BTS’s flagship suite of services - iBMS (Intelligent Bunker Management System), which helps marine fuel suppliers, traders and brokers digitalize their business processes through eliminating unproductive tasks, automating work processes, greater sharing of information and enhancing decision making.iBMS…

The $300 billion bunkering market is at a critical juncture due to the double whammy of the geopolitical crisis and the uncertainty surrounding the regulatory framework pertaining to the decarbonization of the shipping industry.“Bunkering has been hit from the trickledown effect of the sanctions against Russia, and this of course has had a serious impact on prices. Pre-war, the global prices were around $750-$850 per ton, and now we are looking at prices above $1,000,” said Alexander Prokopakis…

PetroChina International Singapore Pte Ltd climbed three spots to be the top marine fuel supplier in the world's biggest ship refueling hub in 2021 while the overall number of licensed suppliers fell by four to 41, official data showed on Monday.Shell Plc's Singapore bunkering unit, Shell Eastern Trading Pte Ltd, fell from the top ranking in 2020 to third, behind Singapore's Equatorial Marine Fuel Management Services Pte Ltd in second place, unchanged from 2020, the Maritime and Port Authority (MPA) of Singapore data showed.Vitol Bunkers Pte Ltd…

The founder of one of Singapore's biggest marine fuel suppliers has been charged for his involvement in a large-scale oil theft from Shell's refinery in the city-state, according to a charge sheet reviewed by Reuters.Pai Keng Pheng, the founder and managing director of Sentek Marine & Trading, was accused on Thursday of conspiring to dishonestly receive stolen property in a charge issued by the police's organized crime branch.Sentek and Shell employees and other third parties have been previously charged for their role in the theft, first uncovered in 2017.In total, about $150 million of oil was stolen over several years from the refinery…

Seven months after the United Nations' shipping agency brought in hotly anticipated new rules to curb emissions, the raft of technical issues and leap in fuel prices that were expected to result have failed to materialize, ING Bank said on Tuesday.Global shipping and oil firms had flagged major concerns over potential disruptions from International Maritime Organization (IMO) rules implemented at the start of 2020, which capped marine fuels' sulphur content at 0.5% against 3.5% previously.However, shipping and marine fuel suppliers say expected technical issues, such as damage to engines from

Singapore oil trader Hin Leong held a call with banks on Tuesday after they failed to provide a letter of credit to the firm to purchase at least one cargo of oil products due to load this month, four sources said.The coronavirus pandemic has led to an unprecedented slump in fuel demand and hammered oil prices, making it difficult for trading firms to make a profit. Hin Leong is one of the largest fuel traders in Asia and an operator of a major tanker fleet.Several banks which offer credit facilities to Hin Leong held a call with the company and its advisers on Tuesday…

The captain of a Vietnamese oil tanker has been jailed for over five years in Singapore for his role in a scheme that saw around $150 million of oil stolen from Shell's biggest refinery over several years.Doan Xuan Than, 47, was sentenced to 66 months in prison on Thursday, a spokesman for the State Courts of Singapore said, becoming the second person jailed in a case that also involves former employees of Royal Dutch Shell who allegedly conspired to siphon oil from the firm's Singapore refinery.The theft…

Chinese marine fuel suppliers have signed up short-term deals to buy very low-sulphur fuel oil from companies like oil major Shell, Germany's Uniper and U.S. commodities trader Freepoint ahead of a new standard on emissions for the global shipping industry that kicks in on Jan. 1.While China's state refiners have pledged to produce a combined 14 million tonnes of the fuel for 2020 that complies with the tighter rules set by the International Maritime Organization (IMO), Beijing…

Montgomery McCracken announced it has named attorneys Robert E. O’Connor and Davis Lee Wright to the firm’s partnership. O’Connor, located in the firm’s New York office, was previously an associate. Wright, who is located in the firm’s Wilmington office, was of counsel. O’Connor is a general litigator and a member of the firm’s Maritime and Transportation practice group. He represents insurers, owners and operators of vessels, and marine fuel suppliers among others. O’Connor also…

A Singapore marine fuel supplier and three executives have been charged with cheating as part of a government crackdown on short deliveries of fuel to vessels in the world's largest bunkering hub. Vermont UM Bunkering Pte Ltd, two directors and a former bunker manager were charged with 150 counts of conspiracy to charge customers for more marine fuels - also known as bunkers - than actually delivered, the Corrupt Practices Investigation Bureau (CPIB) said in a statement. "Through these alleged fraudulent transactions, Vermont Bunkering had dishonestly induced its customers to make excess payments totalling over $8 million," the statement said.

Total, the world’s fourth-ranked international oil and gas company, and CMA CGM, a leading worldwide shipping group, have signed a three-year memorandum of understanding. The two partners will be combining their expertise to prepare for stricter fuel regulations in the shipping industry and further reduce the sector’s footprint by developing solutions that make container ships ever more environmentally-friendly. - Fuel oil with a sulfur content of 0.5%. - Fuel oil with a sulfur content of 3.5% for ships equipped with exhaust gas cleaning systems, or scrubbers, which reduce the polluting emissions before they are released into the atmosphere. of nitrogen oxides (NOx) and particulate matters.

A new consultancy established by well known industry veteran and leading marine energy expert Adrian Tolson, was launched Tuesday. A new consultancy, 20|20 Marine Energy, was launched to help companies create and implement strategies for purchasing and selling marine energy, as well as supporting the development of bunkering infrastructure. In a changing market of increasing risk and complexity, 20|20 works with ship owners, operators and financial institutions on the buy-side, fuel suppliers and traders on the sell-side, as well as ports, and local and national governments on developing infrastructure projects. The company also provides research and insight services. 20|20 has been established by Adrian Tolson, one of the industry’s leading marine energy experts.

In a bid to improve bunker quality across the marine fuel supply chain, the International Bunker Industry Association (IBIA) informs that it has called on marine fuel suppliers to adopt the ISO 2010 specifications for bunkers. Despite having been introduced four years ago to improve bunker standards, it is estimated that only a quarter of bunker suppliers are currently supplying in accordance with the 2010 specifications. “ECO vessels are now entering the market equipped with engines which are more sensitive than vessels have ever had before.

In a bid to improve bunker quality across the marine fuel supply chain, the International Bunker Industry Association (IBIA) has called on marine fuel suppliers to adopt the ISO 2010 specifications for bunkers. Despite having been introduced four years ago to improve bunker standards, it is estimated that only a quarter of bunker suppliers are currently supplying in accordance with the 2010 specifications. Addressing 1,127 attendees from the shipping community at the annual IBIA dinner at London’s Grosvenor House Hotel last night (Monday, February 17), IBIA Vice-Chairman Jens Maul Jorgensen said, “ECO vessels are now entering the market equipped with engines which are more sensitive than vessels have ever had before.

Singapore – Soaring demand for liquefied natural gas (LNG) across Asia is driving major new investments into exploration and infrastructure capabilities. This will stimulate growth in the region’s rapidly expanding offshore and marine sector, as new developments will require additional offshore assets and support services from regional players. Furthermore, due to the synergies between Asia’s gas reserves and ship-design capabilities, the region could pioneer a long-term move toward more LNG utilization to reduce vessel emissions and fuel bills of the offshore support vessels supporting these projects. However, seizing these growth opportunities and moving towards gas-powered vessels of the future…

SGX Mainboard-listed Chemoil (SGX-ST: CHEL.SI), an independent marine fuel suppliers, announced it has appointed Michiel Van Eijck to the position of Sales and Marketing Director for Europe. Van Eijck will maintain relationships Chemoil has developed with its European customers across its diversified supply chain operations worldwide. Prior to joining Chemoil, Van Eijck was Director of Mergers and Acquisitions with Dutch energy provider Eneco Holdings N.V. He has also previously held managerial roles in sales, sourcing and supply with E.ON Benelux and Vopak Oil Logistics covering the European and the Middle East markets. Van Eijck holds a Master in Law, Civil Law from the University of Rotterdam. (www.chemoil.com)

Dynamics within the global marine fuel industry are shifting rapidly according to Chemoil Energy Ltd. With a growing physical presence in the world's four key oil ports, following the launch of its Helios Terminal, Chemoil is confident that its ability to effectively manage its customers complete delivery supply chain on a global basis can lead a new age for independent marine fuel suppliers and present a serious challenge to the industry status quo. In January 2008, the company will begin operations at its 448,000 cubic meter Helios terminal in Singapore, and is also planning to start delivering fuel from the GPS-Chemoil terminal in the UAE port of Fujairah shortly afterwards.