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Local suppliers question Aegean Marine Petroleum’s exit of Singapore physical market

Representatives of Total Marine Fuels and Fratelli Cosulich share their thoughts of the development with Manifold Times.
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The logic behind a recent move by Aegean Marine Petroleum Network (Aegean) to exit the physical bunker supply market at Singapore, the world’s largest bunkering hub, has cast doubt on several local bunker suppliers.

‘The bunkering market in general, and the Singapore market in particular, are extremely competitive,’ said Jonathan McIlroy, President of Aegean, in a press statement on 31 October.

‘We had hoped that enforcement of mandatory mass flow meter (MFM)-equipped bunker barging in January would have driven commercial improvement in the Singapore market allowing Aegean to compete profitably.

‘However, 2017 has seen heightened commercial pressures in Singapore, and as a result, management has determined that Aegean's resources can be more profitably deployed elsewhere.’

Frederic Vazzoler, the General Sales & Development Director at Total Marine Fuels Global Solutions (TMFGS), believes MFMs bring about transparency and other benefits to the Singapore market.

‘Commercial pressure in Singapore? I do not see any change because the Singapore market is a hub and as Rotterdam/Anvers and Fujairah prices are quiet competitive,’ he told Manifold Times.

‘The main change was MFM which put more accuracy on this market which needed to be cleaned up.’

According to Vazzoler, TMF’s commercial operations ‘improved a lot’ since January 2017 after a decision to extend its logistic offer at Singapore.

‘[Since 2017] We have added a time charter bunker barge and two COA agreements with Singaporean first class companies and today we are delivering quiet a significant volume per month in Singapore, mainly 500 cSt and under term contracts,’ he shares.

‘Though the MFM development puts Singapore in good light, we also attribute our success to the daily work on customers’ care and relationship. Our philosophy never changes: Service, accuracy of delivery and a quality product, serious front and back end teams, last but not least – a long term relationship and trust.

‘What we need to do now is focus on more digitalisation and push for e-BDN, on-line services, real time bunkering surveys, and anything else which can put more transparency and trust in our business.’

Timothy Cosulich, CEO of Fratelli Cosulich, notes players who think of MFMs causing bunker suppliers to lose money’ is either ignorant or misinformed’.

‘The introduction of the MFM has brought an improvement in a market where, until January 2017, there were suppliers quoting prices 10-15 dollars below ex-wharf prices,’ he told Manifold Times.

‘Post January 2017, interestingly enough, these suppliers have raised their prices.

‘There are still too many suppliers in Singapore and this is why many players are still losing money or barely breaking even.
‘I am confident that when all the unreliable players will have left the market, we will see a much healthier situation, for all parties involved, from suppliers to customers alike.’

Cosulich says the company has seen a ‘clear improvement’ since January 2017 in terms of efficiency when using MFMs for bunker deliveries.

‘The use of the MFM brings transparency to the process and allows a greater scrutiny from customers and surveyors alike who can get access to historical data from the MFM on board of the barges, as well as the bunker profile.’

‘However, the fact that the situation has improved however doesn’t mean that we are seeing a sustainable market. There are still suppliers on the market who are quoting below-cost barging fees and this of course hurts the market.’

Singapore bunker suppliers actually incur a cost of about USD $0.20 per metric tonne (pmt) when adopting the use of MFMs for bunkering over a period of three years, according to industry sources.

The market price for complete MFM system including installation is approximately USD $250,000 without subsidy from the Singapore Maritime Cluster Fund.

A 5,000 mt capacity bunker tanker at Singapore, which is the average size, typically does eight turns in a month resulting in a monthly total of 40,000 mt; over one year this vessel will have delivered 480,000 mt of bunkers; over three years the similar ship will delivered 1.44 million mt.

Simply put, the total cost added to bunker deliveries over this three-year period is USD $250,000 divided by 1.44 million mt which is $0.17.

Photo credit: FreeImages.com/Ibon San Martin

 

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Mass Flowmeter

Hong Kong backs MFM adoption with voluntary scheme to boost bunkering competitiveness

Hong Kong’s Marine Department launched the Quality Bunker Operator Scheme to encourage bunker operators to install and use mass flow meter systems on their bunker vessels.
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Hong Kong’s Marine Department (MD) on Wednesday (3 June) launched the Quality Bunker Operator Scheme to encourage bunker operators to install and use mass flow meter systems (MFM systems) on their bunker vessels.

MD said the scheme aims to enhance Hong Kong’s bunkering service quality and the competitiveness of Hong Kong ports, thereby further consolidating Hong Kong’s position as an international maritime centre and a major bunkering port.

Under the Scheme, bunker operators of traditional maritime fuel and biodiesel that install and use MFM systems on their bunker vessels, with the MFM systems inspected and certified by an accredited body in accordance with the International Organization for Standardization’s ISO 22192 Standard or equivalent requirements, can apply to the MD for inclusion in the scheme’s “List of Quality Bunker Vessels”, provided they meet the relevant technical and operational requirements. 

Details of the bunker vessels successfully included in the List will be published on a dedicated page on the MD’s website for reference by shipping companies and relevant stakeholders.

Participation in the Scheme is voluntary. In addition to receiving recognition from the MD, participating bunker operators will benefit from enhanced corporate image and competitiveness through the adoption of MFM systems, thereby boosting customers’ confidence and helping to create new business opportunities.

 A spokesman for the MD, said: “As an international maritime centre supported by our country, Hong Kong has a strategic location adjacent to major international fairways. Coupled with years of development in marine fuel bunkering, Hong Kong possesses rich experience and talent in the field. For many years, Hong Kong has consistently ranked as the seventh-largest bunkering port globally, the second-largest in our country, and the largest in the Greater Bay Area, providing reliable and competitive fuel bunkering services to ocean-going vessels from around the world. 

“As the international shipping industry has an increasing demand for accuracy and transparency in bunkering services, service quality and measurement precision in bunkering operations have become important indicators of a bunkering port’s competitiveness. The Scheme will enhance bunkering accuracy and transparency, further enhancing the quality of Hong Kong’s bunkering services.

The spokesman added that comprehensive port services are one of Hong Kong’s key advantages as an international maritime centre.

“We will also mandate the use of MFM systems on all methanol bunker vessels this year to ensure that Hong Kong continues to provide high-quality bunkering services in the era of green maritime fuels.” 

Note: The application form for the Scheme can be found on the MD’s website. Interested bunker operators can download the application form from the website or contact the MD’s Green Maritime Fuel Team via email ([email protected]) for details.

 

Photo credit: Manifold Times
Published: 4 June, 2026

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Alternative Fuels

MPA and MSC ink MoU to support adoption of alternative bunker fuels

MPA and MSC will explore new routes and services to strengthen connectivity, support the adoption of alternative marine fuels such as bio-LNG, and advance technologies to improve vessel energy efficiency.
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MPA and MSC ink MoU to support adoption of alternative bunker fuels

The Maritime and Port Authority of Singapore (MPA) on Wednesday (3 June) said it signed a Memorandum of Understanding (MoU) with MSC Mediterranean Shipping Company to strengthen collaboration in maritime decarbonisation, digitalisation, innovation, and manpower development. 

The MoU was signed on 25 May 2026 by Mr Ang Wee Keong, Chief Executive of MPA, and Mr Soren Toft, Chief Executive Officer of MSC.

The MoU underscores the shared commitment of MPA and MSC to foster a sustainable, digital, and future-ready maritime sector, while enhancing MSC’s operational and business activities in Singapore. This year also marks the 30th anniversary of MSC establishing its Asia Regional Office and local office in Singapore.

Under the MoU, MPA and MSC will explore new routes and services to strengthen connectivity, support the adoption of alternative marine fuels such as bio-LNG, and advance technologies to improve vessel energy efficiency and operational performance.

MPA and MSC will also collaborate on maritime digitalisation initiatives to improve operational efficiency, including streamlining vessel arrivals and port operations. 

On manpower development, MSC will support internship and scholarship opportunities through Singapore Maritime Foundation’s Maritime Outreach Network (MaritimeONE) platform, an industry-led tripartite partnership comprising industry, government and institutes of higher learning that aims to raise awareness of the maritime industry and attract quality talent into the maritime sector.

Mr Ang Wee Keong, Chief Executive of MPA, said: “This partnership reflects the strong collaboration between MPA and MSC in driving sustainability and digitalisation in the maritime sector. By working together on decarbonisation, operational efficiency and talent development, we aim to strengthen Maritime Singapore’s position as a trusted and future-ready global maritime hub.”

Mr Soren Toft, Chief Executive Officer of MSC, said: “Singapore is a strategically important hub for MSC and a key gateway to the broader Asia region. As we mark 30 years in Singapore, this MOU reinforces our long-term commitment to strengthening our presence here. MSC and Singapore are closely aligned on the priorities shaping the future of global shipping, and we look forward to deepening this partnership to drive the continued growth and resilience of the maritime industry.”

 

Photo credit: Maritime and Port Authority of Singapore
Published: 4 June, 2026

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Emissions reporting

StormGeo and OceanScore link emissions data, compliance workflows

Cooperation combines StormGeo’s expertise in operational vessel and emissions data with OceanScore’s expertise in emissions compliance workflows across EU ETS, FuelEU Maritime and UK ETS requirements.
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StormGeo and OceanScore link emissions data, compliance workflows

Weather intelligence and decision support solutions provider StormGeo and Hamburg-based technology platform OceanScore on Wednesday (3 June) said they have deepened their ongoing cooperation through the signing of a collaboration agreement during Posidonia 2026 in Athens on 2 June.

The cooperation combines StormGeo’s expertise in operational vessel and emissions data with OceanScore’s expertise in emissions compliance workflows across EU ETS, FuelEU Maritime and upcoming UK ETS requirements.

Together, the companies aim to help shipping companies seamlessly navigate increasing regulatory complexity more efficiently — from emissions reporting and data validation to compliance exposure management, pooling and financial settlement.

As emissions regulation becomes an increasingly important part of commercial shipping operations, the need for reliable operational data and streamlined compliance processes continues to grow. The cooperation between StormGeo and OceanScore is designed to support shipping companies with more connected, transparent and actionable processes across operational and commercial teams.

“From the outside, companies like StormGeo and OceanScore may sometimes be perceived as competitors because both operate around emissions and compliance workflows,” said Albrecht Grell, Managing Director at OceanScore. 

“But in reality, the industry increasingly needs both perspectives working together: trusted operational emissions data on one side and commercial compliance execution on the other. Our cooperation reflects that shipping companies are no longer looking for isolated solutions — they need connected processes, automated across different systems and reliable decision-making throughout the full compliance chain.”

By connecting validated operational emissions data with commercial compliance management, the cooperation supports workflows across:

  • emissions reporting and validation 
  • compliance management across EU ETS, FuelEU Maritime and upcoming UK ETS requirements
  • exposure visibility and cost transparency
  • pooling, settlement and financial processes 

The cooperation also aims to improve commercial transparency and coordination across operational and commercial stakeholders.

“StormGeo plays a central role in helping shipping companies turn operational vessel and emissions data into trusted, decision-ready insights,” said Espen Martinsen, Chief Commercial Officer at StormGeo. 

“As emissions regulations become more complex, this data is essential for transparent and efficient compliance management. By working with OceanScore, we can help customers connect StormGeo’s validated operational data with commercial compliance processes, creating a more integrated and practical approach to emissions management.”

The signing ceremony took place at the StormGeo booth during Posidonia 2026 in Athens and was attended by representatives from both companies.

Both companies expect the cooperation to continue evolving alongside upcoming regulatory developments, including FuelEU Maritime, EU ETS, the upcoming UK ETS and future emissions-related frameworks affecting global shipping.

 

Photo credit: StormGeo
Published: 4 June, 2026

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