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SIBCON 2020: Equatorial Marine Fuels provides view on local and global bunker markets post Covid-19

EMF Director identifies some reversible and irreversible industry trends due to Covid-19, and shares its strategy to establish trust among stakeholders.

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Choong Sheen Mao, Director of Singapore bunker supplier Equatorial Marine Fuel Management Services Pte Ltd (EMF), on Tuesday (6 October) shared the company’s outlook on the impact of Covid-19 for the Singapore and international bunker markets.

He also explained steps taken to establish EMF’s brand as a trustworthy company at the 21st edition of Singapore International Bunkering Conference, also known as SIBCON 2020.

Coming a long way as a home-grown brand, EMF currently operates a fleet of 19 bunker tankers, three floating storage terminals and supplies a monthly bunker volume of 450,000 metric tonnes at Singapore port. 

Covid 19: Reversible and irreversible outcomes for the bunker industry 

REVERSIBLE TRENDS 

Shortening credit terms:

Increased uncertainty in relation to credit risk in the bunker industry due to Covid-19 related problems, has caused many shipowners to be concerned about shortening credit terms. In the past, the normal credit term was 30 days, but now it’s not uncommon to see a request for 15 days or cash in advance.

Crew Change:

Pre-Covid-19, a crew change could be done within two or three days. Now, shipowners will have to plan two to three months in advance. In fact, crew change has become a critical factor in considering which port to bunker at. It has caused operational expenditure to increase as shipowners now have to consider which ports to divert to in order to facilitate crew change. 

Shipowners prefer ports with MFMs:

EMF has observed shipowners now prefer ports which enforce the use of mass flow meters (MFM) such as Singapore. The company has received reports that because of Covid-19 related restrictions in other ports, shipowner’s surveyors, or owner’s representative are not allowed to go onboard ships during bunkering. As a result, ship owners and bunker suppliers can only rely on the figures reported by the ship’s crew. 

With an MFM in place, one would be relying on figures provided by the mass flow meter, which is a neutral machine, and thus the industry finds it more to be more transparent and reliable.

IRREVERSIBLE TRENDS

De-Globalisation: 

De-globalisation is a very real issue and a side effect of Covid-19 related lockdowns. This does not mean international trade will come to a halt, but rather that trade patterns will pivot towards regionalisation. Shipowners will now have to plan differently and consider how to divert vessels, bunkering ports, and even the amount of bunkers to procure.

Higher trade barriers:

Smaller bunker suppliers and traders are going to face much higher trade barriers due to shrinking credit lines provided by banks. So, what happens next? More consolidation in the market is expected as banks look to reduce their exposure in the current environment.

EMF sees trust between industry stakeholders as one of its core values as a company. The following are some steps taken by EMF to increase transparency and accountability to establish confidence in its brand:

  • Compliance with all regulations introduced by the MPA: Straightforward, but not easy to enforce as there are numerous steps such as ensuring all mass flow meters are constantly and properly calibrated, crew are well equipped and trained to implement said regulations.
  • Transparency with banks: Making sure that the company is ‘audit-ready’ at all times. EMF even allows banks to speak directly to its customers and remains proactive in communications with its banks in order to allay their concerns.
  • Pre-testing cargo for customers: EMF takes the initiative to pre-test bunker fuel and shares the test results with its customers in order to give assurance that even before the bunkers are loaded onto their vessels, quality is ensured.
  • Online bunker tracking tool: EMF recently launched a new online tracking tool known as OTT, where its customers can have real time access to information regarding bunker delivery. All documents like quality certificates and bunker delivery notes are consolidated on one platform to increase transparency with its suppliers and customers.
  • Digitalisation: EMF embraced the digitalisation and has had its own digital technology department since 2018. EMF invests in increasing the digital literacy of its workforce in order to future proof its operations. 

A series of SIBCON 2020 related articles have been earlier written by Manifold Times:

Related: Chairman of Technical Committee for Bunkering explains SS 660, TR 80; and cast an eye to the future
RelatedSIBCON 2020: TR 48 reaps annual savings of at least SGD 80 million for bunkering sector
RelatedSIBCON 2020: Singapore introduces new MFM bunkering standards SS 660 and TR 80
RelatedSIBCON 2020: Powering Fuels of the Future, Driving towards Decarbonisation
Related: SIBCON 2020: Senior Minister highlights ‘quality resilience and sustainability’ for bunkering sector
RelatedInfineum explains: ISO 8217:2017 should be viewed as a ‘minimum performance benchmark’ for VLSFOs
RelatedInterview: Hafnia shares IMO 2020 preparations, promotes transparency for bunkering operations
RelatedVPS: Shipowners face ‘tricky situation’ to balance VLSFO shelf life and wax appearance temperature
RelatedVPS: Big data analysis reveals link between Covid-19 and spike in low flashpoint MGO off-spec cases
RelatedInterview: Total Marine Fuels Global Solutions discusses sector growth, IMO 2020, and future plans
RelatedSIBCON 2020: Evolution to a ‘completely different’ bunkering industry event, says organiser
RelatedSingapore: SIBCON 2020 bunkering event to be hosted virtually

 

Photo credit: SIBCON 2020
Published: 7 October, 2020

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Alternative Fuels

Yang Ming orders six LNG dual-fuel, ammonia-ready containerships from Hanwha Ocean

Each of the six new vessels will have a capacity of up to 13,650 TEU and feature LNG dual-fuel propulsion and Ammonia Fuel Ready specifications.

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Yang Ming orders six LNG dual-fuel, ammonia-ready containerships from Hanwha Ocean

Taiwanese shipping firm Yang Ming Marine Transport Corporation (Yang Ming) and South Korean shipbuilder Hanwha Ocean on Wednesday (2 September) signed a shipbuilding contract for six 13,000 TEU class LNG dual-fuel container vessels. 

The contract was signed by Dr. Chuck Tsai, Chairman of Yang Ming, and Mr. Charles Kim, CEO of Hanwha Ocean. The vessels are scheduled for delivery between 2028 and 2029. 

They will complement Yang Ming’s existing fleet of 10,000+ TEU vessels and serve as key vessels on East-West services, with deployment flexibility across trade lanes connecting Asia with the East and West Coasts of North America, South America, and the Mediterranean. 

Each of the six new vessels will have a capacity of up to 13,650 TEU and feature LNG dual-fuel propulsion and Ammonia Fuel Ready specifications.

“As Yang Ming transitions toward net-zero emissions, LNG provides a relatively mature and economically viable alternative fuel solution, capable of reducing greenhouse gas emissions by approximately 20%,” the company said. 

“At the same time, ammonia can serve as a carbon-free fuel by utilising converted LNG storage facilities, while offering relatively lower conversion costs and comparatively well-developed supply chains and infrastructure. The Ammonia Fuel Ready design will therefore provide Yang Ming with greater flexibility in responding to increasingly stringent international regulations on greenhouse gas emissions.”

In addition, the vessels will be equipped with Type B LNG fuel tanks with a design pressure of 1.0 bar to enhance the safety and efficiency of LNG operations, together with a range of energy-saving technologies, including Wind Shields, Rudder Bulbs, Pre-Swirl Stators, and Shore Power Systems. Smart ship technologies and cybersecurity protection features will also be incorporated to enhance operational efficiency, safety, and reliability while effectively reducing fuel consumption and greenhouse gas emissions.

Deliveries under Yang Ming’s next-generation fleet optimization plan commenced earlier this year. By 2030, a total of 24 new vessels are expected to enter service. 

This includes 18 LNG dual-fuel vessels—comprising five 15,500 TEU, seven 16,000 TEU, and the six 13,000 TEU vessels under this contract—alongside six 8,000 TEU methanol dual-fuel-ready ships. 

 

Photo credit: Yang Ming Marine Transport
Published: 4 September, 2026

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Alternative Fuels

LR, China’s MARIC unveil tanker concept ready for three future bunker fuels

Both secured AiP for a new 114,000 DWT product and crude oil tanker designed to accommodate future conversion to LNG, methanol or ammonia.

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LR, China’s MARIC unveil tanker concept ready for three future bunker fuels

Lloyd’s Register (LR) and the Marine Design and Research Institute of China (MARIC) on Thursday (3 September) have secured Approval in Principle (AiP) for a new 114,000 DWT product and crude oil tanker designed to accommodate future conversion to LNG, methanol or ammonia.

Announced at SMM 2026, the concept addresses one of the biggest investment challenges facing shipping today: the need to develop vessels and capabilities that can support a range of alternative fuel options and pathways as technologies, infrastructure and regulations evolve.

While LNG is already a mature fuel pathway, methanol and ammonia remain at an earlier stage of development, with questions around global fuel availability, infrastructure development, economics and long-term adoption.

The 114,000 DWT tanker concept has been designed as a product and crude oil carrier that can accommodate future conversion to LNG, methanol or ammonia as technologies, regulations and fuel supply chains mature. By incorporating conversion readiness at the design stage, the concept aims to reduce future retrofit complexity and provide owners with greater confidence when planning long-term fleet investments.

The design concept was reviewed against LR’s July 2026 class rules and regulations, including requirements relating to ships using gases and other low-flashpoint fuels, alongside relevant IACS Common Structural Rules for oil tankers. Final classification and statutory approval remain subject to full compliance with all applicable rules and regulations.

Theo Kourmpelis, Global Business Director for Tankers, Lloyd’s Register, said: “Shipowners are being asked to make major investment decisions today despite continued uncertainty around which fuels will dominate in the decades ahead. Alternative fuel solutions each offer potential pathways to compliance, but fuel infrastructure, regulation and economics continue to evolve at different speeds around the world.

“Designs that preserve flexibility will be critical in helping owners manage risk while preparing for multiple future scenarios.”

Si Nan, Marine & Offshore Marketing Department Vice Director, MARIC, said: “As the industry explores different decarbonisation pathways, shipowners need vessel designs that can adapt alongside technological and regulatory developments. This concept was developed specifically to provide greater fuel flexibility and long-term resilience, allowing owners to respond to changing market requirements without being locked into a single fuel strategy.

“Receiving Approval in Principle from Lloyd’s Register is an important milestone that validates the design concept and supports its future development.”

 

Photo credit: Lloyd’s Register
Published: 4 September, 2026

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Alternative Fuels

DNV: Alternative-fuelled vessel orders hit highest monthly level since October 2024

LNG-fuelled vessels accounted for the vast majority of August activity while the strong summer performance marked a significant acceleration in ordering activity after a relatively slow start to the year.

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DNV: Alternative-fuelled vessel orders hit highest monthly level since October 2024

Latest data from classification society DNV’s Alternative Fuels Insight (AFI) platform alternative-fuelled vessel ordering was strong in August, with 52 new vessels added to the platform.

This is the highest monthly total since October 2024 and follows another active month in July, when 47 vessels were added to the database.

LNG-fuelled vessels accounted for the vast majority of August activity, with 46 orders recorded. The container segment led the way with 30 orders, while the car carrier segment contributed a further 12 LNG-fuelled vessels. In addition, four ethanol-fuelled bulk carriers and two hydrogen-powered bulk carriers were added during the month, as well as one LNG bunker vessel.

The strong summer performance marked a significant acceleration in ordering activity after a relatively slow start to the year. In total, 242 alternative-fuelled vessel orders have been placed in the first eight months of 2026, representing a 27% increase compared with the same period in 2025.

LNG remains the dominant fuel choice, accounting for 63% of all alternative-fuelled vessel orders registered so far this year. Container vessels represent the largest share of these LNG orders (59%), followed by car carriers (30%).

Jason Stefanatos, Global Decarbonization Director at DNV Maritime, said: “The past two months have been particularly strong for alternative-fuelled vessel ordering, with August recording the highest monthly total we’ve seen since October 2024. This has helped lift year-to-date orders to a level well above the same period last year.

“LNG remains the leading fuel choice, driven largely by activity in the container and car carrier segments. These sectors have been among the earliest adopters of alternative fuels, supported by predictable liner operations and increasing demand from cargo owners to reduce emissions across supply chains. 

“For many owners, LNG offers a combination of emissions reductions, fuel availability and future flexibility while the longer-term fuel landscape continues to evolve. 

“At the same time, the latest figures include orders for ethanol- and hydrogen-fuelled vessels, highlighting that owners continue to explore a range of decarbonization pathways. Different segments are making different fuel choices, but the overall level of activity demonstrates continued investment in lower-emission shipping.”

Screenshot 2026 09 04 at 12.29.26 PM Screenshot 2026 09 04 at 12.29.36 PM

 

Photo credit: DNV
Published: 4 September, 2026

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