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APEX enters agreement to use Argus’ prices in proposed LSFO futures contract

ABI Singapore LSFO 0.5%S is ‘perfectly suited’ to the needs of the marine industry because it represents the most active and liquid part of market, says Argus CEO.

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Singapore-based derivatives exchange Asia Pacific Exchange (APEX) on Monday (9 September) entered into a licensing agreement with commodity price reporting and news agency Argus Media to use its Argus Bunker Index (ABI) Singapore LSFO 0.5%S as the settlement price for a proposed new derivatives contract.

The contract can be used by oil traders, bunker fuel suppliers and shipowners to manage their price risks related to the new low-sulphur fuel oil (LSFO) required to comply with the 0.5% sulphur cap being introduced by the International Maritime Organisation in January 2020 (IMO 2020).

“The Argus Bunker Index for Singapore LSFO, which APEX intends to use to financially settle their new futures contract, is perfectly suited to the needs of the marine industry because it represents the most active and liquid part of market” Pierre Lever, Asia CEO at Argus, told Manifold Times.

“When ship owners use this index in physical supply contracts or for derivative hedging they can have confidence that the Index will accurately track the price ship owners are paying for bunker fuel in the spot market.”

ABI Singapore assessments were launched in June last year and are calculated using a volume-weighted average of fixed price delivered-to-ship bunker transactions between suppliers and shipowners reported to Argus by 7pm each day.

More than 40 companies have voluntarily contributed their trade data over the previous year and typically more than 20 deals are submitted each day.

The LSFO 0.5%S index represents the price of bunker fuel delivered within 4-12 days from the trade date, for volumes between 500t and 3,000t, with viscosity of less than 380cst and sulphur below 0.5%.

“Argus compiles the Index by collecting multiple fixed-price spot bunker transactions” said Alan Bannister, Head of Business Development for Argus in Asia.

“This means we’re able to handle the fact that the new LSFO 0.5%S fuels won’t be identical and may not be compatible. The fuels will have to compete with each other on price, so the Argus Bunker Index (ABI) Singapore LSFO 0.5%S will be a fair representation of what ship owners are paying for their IMO compliant Fuel Oil.”

The launch date and specifications for the APEX contract will be announced in due course, subject to the completion of the necessary regulatory processes. ABI Singapore assessments are available and published in the Argus Marine Fuels and the Argus Asia-Pacific Products reports.

“APEX is looking forward to partnering with Argus,” said APEX chief executive Eugene Zhu.

“Since the launch of the High Sulphur Fuel Oil Futures Contract on 11 April 2019, the average daily trading volume and open interest have been increasing steadily.

“With the upcoming IMO 2020 regulations, the energy and shipping industries are expected to face greater challenges. To better fulfil market demands, APEX is working with Argus in our development of a Low Sulphur Fuel Oil Futures Contract, which will provide a new tool for market participants in order to hedge and manage their risks.”

Related: Argus officially launches 380 cSt, MGO, LSMGO bunker price assessment
Related: Argus records first Singapore LSFO deal ahead of IMO 2020
Related: Asia Pacific Exchange officially launches 380 cSt fuel oil futures contract
Related: APEX Fuel Oil Futures Contract executes first ‘Exchange of Futures for Physicals’ op

Photo credit: Manifold Times
Published: 10 September, 2019

 

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Winding up

Singapore: High Court to hear Norvic Shipping Asia winding up application on 31 July

Application for the winding up of Norvic Shipping Asia Pte Ltd was filed by Netherlands-registered Mur Shipping BV on 8 April, according to Government Gazette notice.

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An application for the winding up of Norvic Shipping Asia Pte Ltd was filed by Netherlands-registered Mur Shipping BV on 8 April, according to a Tuesday (21 July) notice on the Government Gazette.

It noted the winding up application is directed to be heard before the Judge sitting in the General Division of the High Court at 10am on 31 July.

Any creditor or contributory of the company desiring to support or oppose the making of an order on the winding up application may appear at the time of hearing by himself or his counsel for that purpose.

A copy of the winding up application will be furnished to any creditor or contributory of the company requiring the copy of the winding up application by the solicitors of the applicant’s, Oon & Bazul LLC, on payment of the regulated charge for the same.

The Applicant’s address is Hiridostraat 5, Gebouw Prismatrium, 1101CW Amsterdam, The Netherlands.

The Applicant’s solicitors are Oon & Bazul LLC of 103 Penang Rd, #04-04/05/06 Singapore 238467. 

Queries on the winding up application may be directed to the following email addresses: [email protected] and [email protected].

 

Photo credit: Manifold Times
Published: 22 July, 2026

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Methanol

World Fuel and partners complete first green methanol bunkering of car carrier in Shanghai

Operation involved the delivery of approximately 2,800 MT of green methanol to “Arctic Tern” via a ship-to-ship transfer using SIPG Energy’s dedicated methanol bunkering vessel “M/V Hai Gang Zhi Yuan”.

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World Fuel and partners complete first green methanol bunkering of car carrier in Shanghai

Marine fuel provider World Fuel on Tuesday (21 July) said it successfully completed the first green methanol bunkering of M/V Arctic Tern, with EUKOR Car Carriers and SIPG Energy at the Port of Shanghai. 

Arctic Tern is the first vessel in the new Shaper Class series of car carriers. 

The operation involved the delivery of approximately 2,800 MT of green methanol to Arctic Tern via a ship-to-ship transfer using SIPG Energy’s dedicated methanol bunkering vessel M/V Hai Gang Zhi Yuan, the largest vessel of its kind in operation. 

The bunkering operation was carried out at Haitong Terminal, Waigaoqiao Port Area, Shanghai Port, with cargo handling operations conducted simultaneously during bunkering.

This marks EUKOR Car Carriers’ first green methanol operation and the first time Arctic Tern has bunkered methanol since its delivery on 9 July. The operation marked the first bunkering at Shanghai Port of green methanol produced locally in Shanghai for an international PCTC operator. 

It also demonstrated the city’s integrated green methanol value chain, spanning local production, storage and bunkering, and established a replicable “Shanghai Model” for green methanol supply.

World Fuel arranged the supply and delivery of the fuel on behalf of EUKOR Car Carriers, working with SIPG Energy as the physical supplier at the Port of Shanghai.

The green methanol supplied was produced from municipal solid waste, ISCC-EU certified, and had a carbon intensity value below 25 gCO₂e/MJ.

Arctic Tern is the first of fourteen Shaper Class vessels ordered by Wallenius Wilhelmsen. With a capacity of 9,300 car equivalent units and methanol dual-fuel capability, the vessel will be operated by EUKOR Car Carriers, jointly owned by Wallenius Wilhelmsen and Hyundai Motor Group. Following her first green methanol bunkering, Arctic Tern will continue her maiden voyage from Asia to Europe.

Xavier Leroi, COO Shipping Services at Wallenius Wilhelmsen and CEO of EUKOR Car Carriers, said: “Completing Arctic Tern’s first green methanol bunkering shortly after delivery is a significant milestone towards our decarbonisation ambition for both EUKOR Car Carriers and Wallenius Wilhelmsen. It demonstrates how investments in next-generation vessel technology and fuel flexibility are being translated into real-world operations. 

“This achievement reflects the strong collaboration between all parties involved. Together, we have shown how partnerships across the maritime value chain can help make lower-emission fuels available and operationally viable at scale.”

Mark Tamsitt, SVP Global Marine Sales at World Fuel, said, “The first bunkering event with a new fuel is a significant moment for any shipowner, and our role is to make it as seamless as possible. By connecting EUKOR Car Carriers with SIPG Energy’s proven green methanol capability at the Port of Shanghai, we were able to deliver on reliable supply, fuel quality, and safe processes. As more of our customers bring methanol dual-fuel tonnage into service, we are committed to being the partner that makes these kinds of operations routine.”

Mr. Zhang Da, General Manager of SIPG Energy, said, “Welcoming Arctic Tern to the Port of Shanghai for her first green methanol bunkering demonstrates the strength and maturity of our supply capability. Building on our well-established methanol ship-to-ship bunkering services for container vessels, we have already extended such services to pure car and truck carriers (PCTCs). This bunkering sets a new record for the largest single SIMOPs green methanol bunkering for PCTCs in China, marking another step in building Shanghai’s position as a global green energy hub for international shipping.”

This operation follows Wallenius Wilhelmsen’s announcement on 9 July that Arctic Tern would complete her first methanol bunkering shortly after delivery. The vessel entered service on routes between Asia and Europe immediately following handover from China Merchants Jinling Shipyard in Nanjing.

 

Photo credit: World Fuel
Published: 22 July, 2026

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Ammonia

HPA and MB Energy develop safety concept for STS ammonia bunkering

HPA says the Port of Hamburg will become “bunker ready” for ammonia, laying the groundwork for safe and reliable ammonia bunkering in the future.

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HPA and MB Energy develop safety concept for STS ammonia bunkering

The Hamburg Port Authority (HPA) and integrated energy company MB Energy on Tuesday (21 July) said they have completed a comprehensive risk analysis and developed a dedicated safety concept for ship-to-ship ammonia bunkering.

MB Energy said the analysis lays the groundwork for the safe introduction of ammonia as a future marine fuel.

“With our planned ammonia import terminal in Hamburg-Blumensand, MB Energy intends to provide the reliable land side supply infrastructure needed to support this transition across northern German ports,” it said in a social media post. 

Mabanaft Group was renamed to MB Energy last year and merged over 50 existing brands under one identity. 

Separately, HPA said the Port of Hamburg will become “bunker ready” for ammonia, laying the groundwork for safe and reliable ammonia bunkering in the future.

“The focus is in particular on container ships, cruise ships as well as RoRo and ConRo (Container/RoRo) ships,” it said. 

“We expect ammonia to establish itself as an alternative marine marine fuel in the coming years. With our preparatory work, we are already creating the conditions to welcome the first ammonia-powered ships in Hamburg and to bunker them safely.:

HPA added that the import terminal for ammonia planned by MB Energy from 2029 will make a decisive contribution to ensuring the reliable availability of ammonia as a bunker fuel in northern German ports in the long term. 

“The use of an ammonia bunker barge is considered a possible addition to the landside infrastructure to enable ship bunkering in the port and beyond in the future,” it said.

Related: Mabanaft Group renames as MB Energy, merging over 50 brands under one identity

 

Photo credit: Hamburg Port Authority
Published: 22 July, 2026

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