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FUJCON 2021: Panelists in showdown on relative costs of clean bunker fuels

‘LPG is underrated…but I think the fact that we’re making decisions and implementing them rather than just reporting on sustainability is important,’ said CEO BW LPG.
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Panelists representing respective interests in ‘future’ marine fuels on Wednesday (24 March) shared their perspectives and experience to date with liquified natural gas (LNG), hydrogen, liquified petroleum gas (LPG), methanol and biofuels at the 12th Fujairah International Bunkering and Fuel Oil Virtual Forum (FUJCON 2021).

While most of the first half of the session was regarding the sustainability of these fuels Vivek Chandra of LNG Entrepreneur pointed out it is important to discuss the relative costs of these fuels.

“I understand LPG a great deal, I understand that it’s easily available, it’s a simple fuel […] I have an LPG tank in my backyard for my barbecue right now and it’s very easy to get filled. My point is, it is not that cheap,” states Chandra.

“It’s actually a very expensive fuel and I would venture to say in most parts of the world, it’s a lot more expensive than LNG and of course a way more expensive than any low sulphur oils. So how do you get over that?”

Anders Onarheim, Chief Executive Officer, BW LPG agreed that LPG is “quite expensive” but was positive of its long term gains. 

“There’s no question today that LPG is quite expensive relative to when we made the decision […] but I think if you look at forward prices we still see a nice payback over five to six years, when you look at the price,” replies Onarheim.

“Obviously we think LPG is underrated but I also think the fact that we’re actually making decisions and implementing them rather than just writing in our annual report that we care about sustainability. That to me is important.”

Gary Hubbard, Chief Commercial Officer, Neutral Fuels Company meanwhile was confident his company which provide biofuels in India and in Bahrain will be able to meet the price points required by the markets; however, he pointed out the product faces a challenge.

“The challenge for us, as with any fuel is the feedstock […] and as an organisation we don’t believe in government subsidies or handouts or bailouts or anything like that,” shares Hubbard.

“The more that can be done […] to optimise our waste into usable biofuels, then the cheaper the fuel becomes. Ultimately that makes it operationally sustainable, financially sustainable, and absolutely environmentally sustainable.”

Chris Chatterton, COO, Methanol Institute explains all fuels will become more expensive if they are cleaner and methanol is a highly pure product.

“Methanol’s energy content is considerably more than ammonia and substantially more than hydrogen, so it’s a fuel that can take us well into the future even to be used in fuel cells,” states Chatterton.

Lars Liebig, Managing Director, Uniper Energy DMCC believes all fuels which require a lot of CAPEX and new investments will always become a challenge; and suggests for the shipping industry to start with a drop-in fuel. 

“So, let’s start with a drop-in fuel. The price point for the biofuel blend we are offering now in Fujairah together with Gary [Neutral Fuels Company] is a 10% reduction in CO2 emissions for roughly 15% more on the total price,” adds Lars Liebig, Managing Director, Uniper Energy DMCC.

“That’s not bad. Basically everybody can immediately cut 10% of emissions by paying 15% more. Additionally, the ultimate price point for each of the goods delivered is very minimal. So, we can achieve a lot immediately if we start. So I think that’s what we need to focus on, and then the rest will come gradually, I’m sure.”

Saunak Rai, General Manager, FueLNG, had some concluding remarks to contribute.

“The way I see it, the future fuel scape is not one fuel or two fuels, it’s a fuel mix, and all of the fuels we discussed today have a special role to play,” he says.

“Somewhere LNG makes sense because of its global availability or because of the price or because of its safety standards. 

“Some places will utilise hydrogen, others ammonia or methanol, and together, this will make up the global fuel mix. Each ship, each trade, each part of the world would have a solution and the ratios of this fuel mix would be different.”


Photo credit: FUJCON 2021
Published: 5 April, 2021

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Winding up

Singapore: Xihe Holdings subsidiaries to be wound up voluntarily, creditors to submit claims

Creditors of Da Zhong Tankers and Xin Ying Shipping are required on or before 17 July 2026 to send in their names and addresses and particulars of their debts or claims to appointed liquidators, says notice.
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Xihe Holdings Pte Ltd subsidiaries Da Zhong Tankers Pte Ltd and Xin Ying Shipping Pte Ltd will voluntarily wind up following resolutions that were passed by written means, according to a Government Gazette notice published on Thursday (18 June).

The resolutions set out below were duly passed:

  • SPECIAL RESOLUTION – WINDING-UP

That the Company be wound up voluntarily pursuant to section 160(1)(b) of the Insolvency, Restructuring and Dissolution Act 2018.

  • ORDINARY RESOLUTION – APPOINTMENT OF LIQUIDATORS

That Paresh Tribhovan Jotangia and Ho May Kee of Grant Thornton Singapore Private Limited, 8 Marina View, #40-04/05 Asia Square Tower 1, Singapore 018960 be and are hereby appointed as joint and several liquidators to conduct the said winding-up and that their remuneration be fixed on the usual scale of their professional charges for the work involved.

  • SPECIAL RESOLUTION – POWERS OF LIQUIDATORS

That the liquidators of the Company be authorised to exercise any of their powers given by section 177, 144 (1) and (2) of the Insolvency, Restructuring and Dissolution Act 2018 and to distribute to members, in specie, any part of the assets of the Company.

In another notice, the liquidator of the company said creditors are required on or before 17 July 2026 to send in their names and addresses with particulars of their solicitors (if any) to liquidator Paresh Tribhovan Jotangia at Grant Thornton Singapore Private Limited, 8 Marina View, #40-04/05 Asia Square Tower 1, Singapore 018960. 

The liquidator may require creditors or their solicitors to “come in and prove their said debts or claims at such time and place as shall be specified in such notice or in default thereof, they will be excluded from the benefit of any distribution made before such debts are proved.”

Related: Singapore: Additional Xihe Holdings subsidiaries to be placed under judicial management

 

Photo credit: steve pb from Pixabay
Published: 19 June, 2026

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Winding up

Singapore: Liquidator of Parakou Shipping issues notice of dividend

Second and final dividend to admitted creditors of Parakou Shipping is payable by 14 July, according to Government Gazette notice.

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June 19, 2026

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A notice of dividend for Parakou Shipping Pte Ltd, which is currently in voluntary liquidation, was published on the Government Gazette on Thursday (18 June). 

The following are the details of the notice:

Name of Company : Parakou Shipping Pte Ltd (In Creditors’ Voluntary Liquidation)
Address of Registered Office : c/o KordaMentha, 50 Raffles Place, 25-01 Singapore Land Tower, Singapore 048623
Amount per centum : 0.55 per centum of admitted claims (in accordance with the Order of Court HC/ORC 4175/2024)
First and Final or otherwise : Second and Final Dividend to admitted creditors (in accordance with the Order of Court HC/ORC 4175/2024)
When payable : By 14 July 2026
Where payable : c/o KordaMentha Pte Ltd, 50 Raffles Place, #25-01 Singapore Land Tower, Singapore 048623

Related: Singapore: Notice of intended dividend issued for Parakou Shipping Pte Ltd

 

Photo credit: Benjamin Child
Published: 19 June, 2026

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Alternative Fuels

MOL inks bio-LNG bunker fuel supply deals with Titan and Axpo for car carriers in Europe

Titan, part of Amsterdam-based Molgas, will continue to supply bio-LNG fuel in Northwest Europe, while Axpo will take charge of supply in the Mediterranean region.
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MOL inks bio-LNG bunker fuel supply deals with Titan and Axpo for car carriers in Europe

Mitsui OSK Lines (MOL) on Thursday (18 July) said it has signed new supply agreements in Northern Europe and the Mediterranean region to expand the use of bio-LNG marine fuel on MOL-operated LNG-fuelled car carriers.

Titan, part of Amsterdam-based Molgas, will continue to supply bio-LNG fuel in Northwest Europe, while Axpo will take charge of supply in the Mediterranean region.

MOL said the agreement makes it possible for its company to supply bio-LNG fuel for automobile carriers in the Mediterranean region, specifically Port of Malaga and Barcelona in Spain, following the bio-LNG fuel supply agreement in Western Europe, which commenced in March last year.

The bio-LNG fuel to be supplied in this initiative has a lifecycle carbon intensity (carbon dioxide emissions per unit of energy consumption) of -15 g-CO2/MJ or less, from production through consumption. Furthermore, this bio-LNG fuel has obtained International Sustainability and Carbon Certification (ISCC-EU). 

“Through this supply agreement, MOL has established a framework that ensures a continuous and stable supply of bio-LNG fuel not only in Northern Europe but also in the Mediterranean,” the company said.

As part of the group’s efforts to adopt alternative fuels and achieve net-zero greenhouse gas (GHG) emissions, it is utilising LNG-fuelled vessels as a bridge solution to facilitate the transition to carbon-neutral fuels such as bio-LNG and synthetic LNG (e-methane).

In 2025, MOL signed a bio LNG fuel supply agreement in Northwest Europe with Titan, part of the Molgas, and MOL has continued this bio LNG fuel supply agreement with the same company in 2026 as well.

 

Photo credit: Mitsui OSK Lines
Published: 19 June, 2026

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