Business

International Union of Marine Insurance: IMO 2020 – 100 days amidst the Pandemic

Issues faced by shipowners coming into 2020 have now been overshadowed by the pandemic but challenges remain on the full implementation of IMO 2020.

Published

6 years ago

July 21, 2020

Admin

International Union of Marine Insurance (IUMI), in its June 2020 newsletter published an update on the maritime industry’s compliance with the IMO 2020 sulphur cap in light of the Covid-19 pandemic; it was written by Rama Chandran, Head of Marine for Singapore and Head of Hull & Marine Liability for Asia, QBE Insurance (Singapore) Pte Ltd and IUMI Ocean Hull Committee Chair:

What was on the minds of all shipowners coming into 2020 has now been clearly overshadowed by the pandemic and its significant impact. However, challenges remain on the full implementations of IMO’s 2020 sulphur cap.

The next key regulatory milestone is the 2030 regulations where a reduction of 40% of carbon emissions is the current objective. It is widely expected that this threshold will be increased.

But for now, let’s look at where we are on the IMO 2020 implementation 100 days since coming into effect.

In the first quarter of 2020, the Maritime Port Authority of Singapore (MPA) reported that most ships calling at the ports of Singapore have complied with the regulation.

It was further reported that based on the pre-arrival notification submitted to MPA, 96% of the ships calling at Singapore used compliant fuel. This excludes ships installed with open loop scrubbers that switch to using compliant fuel upon arriving at Singapore as the use of open loop scrubbers is prohibited in the port of Singapore (as well as in many other ports).

During this period, 326 Port State inspection and Flag State inspections were carried in the port of Singapore. Out of these, 12 ships were not fitted with scrubbers and had fuels marginally exceeding the sulphur limit. This was reported as likely due to remnant residues of high sulphur fuel in the fuel tanks and piping. It is expected in time, the fuel tanks and piping would be sufficiently flushed with the continued use of compliant fuel.

Among the small number of Singapore registered vessels fitted with scrubbers, 31 reports of scrubber malfunctions were noted as of 29 Feb 2020.

There were some incidents related to automation, corrosion, safety and monitoring on some of the scrubber incidents to date.

DNV GL reported close to 4,000 ships being fitted with scrubbers and more were scheduled to do so during the year due to the price difference between heavy fuel oil (HFO) and low sulphur fuel oil (LSFO). This spread has since reduced to significantly below USD $100 per metric tonne. This figure was generally used by the scrubber manufacturers in the rationale on economic viability.

With the pandemic, the installation timeline will be pushed back significantly. It is not clear if shipowners will cancel or delay further until there is some clarity with the potential future price difference between the two grades of fuel. The other factor for consideration is the availability of the HFO post pandemic.

On a final note, we are still monitoring the impact of low sulphur fuels on engine and if there is significant increase in machinery claims in the near future.

Photo credit: Anne Nygård on Unsplash
Published: 21 July, 2020

Business

FLEX Commodities appoints Euwyn Tan as Senior Marine Fuels Trader in Singapore

Tan has experience across the marine fuels, bunkering and shipping markets, with a strong background in trading, procurement, commercial negotiations and developing relationships.

Published

11 hours ago

September 8, 2026

Admin

FLEX Commodities appoints Euwyn Tan as Senior Marine Fuels Trader in Singapore

Dubai-based bunker trading firm FLEX Commodities FZCO (FLEX) on Monday (7 September) announced the appointment of Euwyn Tan as its Senior Marine Fuels Trader based in Singapore.

Tan has experience across the marine fuels, bunkering and shipping markets, with a strong background in trading, procurement, commercial negotiations and developing relationships with shipowners and charterers across Asia and Europe.

Before FLEX, he was a Bunker Trading Manager in Propeller Fuels from 2023 to this month.

“Based in Singapore, Euwyn will play an important role in strengthening FLEX Commodities’ marine fuels trading capabilities and expanding our presence across the Asian market,” the company said in a social media post.

“We are delighted to have Euwyn on board and look forward to his contribution as we continue to grow our global trading business.”

Photo credit: FLEX Commodities
Published: 8 September, 2026

LNG Bunkering

Osaka Gas conducts Osaka Bay’s first STS LNG bunkering operation

Acting through Singapore-based marine fuel trading firm Integr8 Fuels, Osaka Gas supplied LNG bunker fuel to an LNG-fuelled PCTC operated by an overseas shipping company calling at the Port of Kobe.

Published

11 hours ago

September 8, 2026

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Osaka Gas conducts Osaka Bay’s first STS LNG bunkering operation

Japanese energy company Osaka Gas on Friday (4 September) said it has successfully completed the first-ever ship-to-ship LNG bunkering operation in Osaka Bay, supplying LNG fuel to an LNG-fuelled PCTC.

The operation was conducted using SETO AZURE, an LNG bunkering vessel owned by Osaka Bay LNG Shipping Co Ltd, an affiliated company of Osaka Gas.

Acting through Integr8 Fuels Pte Ltd, a Singapore-based marine fuel trading company, Osaka Gas supplied LNG fuel to an LNG-fuelled PCTC operated by an overseas shipping company calling at the Port of Kobe.

Ship-to-ship bunkering will help ensure a stable supply of LNG fuel in the Osaka Bay area and support the development of the Port of Kobe as a Carbon Neutral Port.

In addition to ship-to-ship bunkering, Osaka Gas provides LNG fuel through truck-to-ship bunkering and port-to-ship bunkering. With capability covering all three major LNG bunkering methods, Osaka Gas provides flexible and reliable LNG fuel supply services to meet customers’ diverse needs.

The company said LNG bunkering infrastructure in Japan remains insufficient, highlighting the need to establish a stable fuel supply network to support the wider adoption of LNG-fuelled vessels.

Photo credit: Osaka Gas
Published: 8 September, 2026

Bunker Fuel

Bunker Holding, Dan-Bunkering to join USTC units at new Copenhagen hub

Employees from Bunker Holding, Dan-Bunkering, Global Risk Management, CM Biomass, Unit IT, Uni-Tankers, Selfinvest, and USTC will all be based together in a new shared USTC Hub.

Published

11 hours ago

September 8, 2026

Admin

Bunker Holding, Dan-Bunkering to join USTC companies at new Copenhagen hub

The owners and management of Danish-owned USTC have decided to consolidate the Group’s offices in the Greater Copenhagen area in a new shared USTC Hub, according to the Group on Monday (7 September).

Employees from Bunker Holding, Dan-Bunkering, Global Risk Management, CM Biomass, Unit IT, Uni-Tankers, Selfinvest, and USTC will all be based together in the new USTC Hub.

The lease will take effect on 1 December 2026, with employees and companies moving into the new hub in phases thereafter.

The chosen location is the brand-new Marmormolen development in Nordhavn, which will accommodate more than 150 workstations from across the Group’s companies under one roof.

The USTC Hub will provide better opportunities for the companies to connect and make the most of the possibilities that arise when independent businesses work in closer proximity. In that sense, the hub is a tangible expression of USTC’s approach: strong business acumen, a sense of cohesion and a keen eye for opportunities across the Group.

“In locations such as Houston and Singapore, we already have USTC Hubs where several of our companies are based together. This has created strong professional communities and valuable synergies across our organisation. We have therefore wanted to establish a similar concept in Copenhagen for some time. At the same time, the experience gained from our existing hubs will help us assess opportunities for additional hubs in other parts of the world where they make sound business sense,” said Nina Østergaard, co-owner and CEO of USTC.

The USTC Hub will span more than 3,000 square metres on the sixth floor of Marmormolen and will offer access to rooftop terraces as well as a range of shared facilities. This will provide an ideal setting for both formal and informal interactions across companies and teams.

According to Østergaard, however, the ambition is not to make the companies more alike.

“The hub is intended to be a platform for closer collaboration and knowledge sharing, but the aim is not to make our companies the same. Quite the opposite. Their differences are an important part of our strength. Each company has its own capabilities and direction. But by bringing people closer together, we create better opportunities to learn from each other, build bridges and make better use of the strengths that exist across our organisation,” said Østergaard.

The establishment of the USTC Hub will also support USTC’s ambitions for continued growth while creating a more attractive professional environment for employees.

“We are a Danish Group with offices around the world, and we have ambitions to continue developing. That makes it important for us to have a strong base in Copenhagen. It brings us closer to businesses, professional communities and some of the capabilities we will need in the future. At the same time, it gives us a stronger hand when it comes to attracting talented people,” said Østergaard.

“Our companies should, of course, retain their own identity. But it is equally important that there is something that connects us. To me, that includes strong business acumen, a sense of responsibility, keeping the distance from idea to action short, and staying close to the business.”

Photo credit: USTC
Published: 8 September, 2026