Connect with us

Alternative Fuels

Sing Fuels: Prime’s Bunkers acquisition marks beginning of growing global independent brokerage partners

Firm hopes to leverage partnership in Greece as a springboard to expand into neighbouring and overseas markets including Europe and China, says Robin Van Elderen, Regional Head Bunkers, Europe, Sing Fuels.
Admin

Published

4 years ago

on

1 18

In an exclusive interview with Manifold Times, Robin Van Elderen, Regional Head Bunkers, Europe, Sing Fuels Pte. Ltd. on Wednesday (29 June) revealed more about the firm’s recent move in acquiring the assets of independent bunker-buying management service Prime’s Bunkersplus Services L.P based in Athens, Greece. 

MT: How did this development come about? How long did negotiations take? During the Covid era what issues were there in communication and what were the solutions?

As a global energy trading firm, Sing Fuels aspires further global expansion, and we believe that for many markets the fastest way for us to grow is through acquisitions of businesses that share the same approach and values as we do and bring deep local insights and connections. The partnership is the first step in Sing Fuels’ plans to grow a global alliance of independent brokerage partners, with deep knowledge and specialism in their respective markets, working together to provide an alternative to larger global competitors.

An established and well-connected player in the Greek shipping market, Prime’s Bunkers, led by Founder Irene Notias, is a long-time associate of Sing Fuels. Prime’s Bunkers’ local expertise and connections will enable Sing Fuels to grow in depth and extend its reach to create stronger ties and relationships in local markets and consolidate its business across the different markets, while diversifying potential risks the company could be exposed to.  

Against the backdrop of the COVID-19 pandemic and the evolving market landscape, the long-standing relationship between our companies provided strong fundamentals to deepen our partnership and we found the process to be very smooth given our shared ethos and vision.  

MT: What are the benefits for Sing Fuels, in terms of expansion strategy, services for clients, and business opportunities, of an expansion to Greece?

Greece is one of the world’s largest shipping markets and an important strategic location. The partnership with Prime’s Bunkers marks our entry into Greek market, which will be its sixth geographical location after Singapore, South Africa, the United Arab Emirates, the United Kingdom and the United States.

We hope to use this partnership in Greece as a springboard to expand into the neighbouring and overseas markets which includes Europe and China, as well as expand our product portfolio. 

Traditionally in the past we have expanded by opening offices in new markets and countries and hiring individual traders. The research and analytics we gathered during the pandemic has taught us that to grow in depth, extending our reach to create stronger ties and relationships in local markets, such as what we have done with our partnership with Prime’s Brokers. 

Post-acquisition, the company will continue to offer a strong local alternative to the shipping customer base, leveraging Prime Bunkers’ independent broking bunker-buying management services.

MT: How does the acquisition of Prime’s Bunkers reflect these values of Sing Fuels?

Both companies have roots as brokerage firms, and Sing Fuels’ is a long-time associate of Prime’s Bunkers. While the Prime’s Bunkers team is relatively small, they have consistently been achieving steady growth and are well established as a key player in the region. 

This agreement is built on the foundation of our shared and deep commitment to operational excellence, and we believe there are significant opportunities to capture more market share with a proactive approach to after service, and drive our growth through this global alliance.  

MT: How does the acquisition commercially help Prime’s Bunkers? What do they get out of it?

Irene will lead the Greece office for Sing Fuels, becoming Country Manager. Irene is a prominent figure in both the Greek community and domestic shipping industry. With her knowledge and familiarity with the markets, and innovative and customer-centric outlook and approach, she will be instrumental in helping us to shape the trajectory and growth of the business in the region.  

With the acquisition of Prime’s Bunkers brand, goodwill and assets, this partnership will allow us to augment our collective capabilities to deliver outstanding customer service to key stakeholders in the region. At the same time, Prime’s Bunkers will also be able to scale and grow the business through leveraging Sing Fuel’s vast network and resources. 

Following the deal, Prime’s Bunkers will continue to operate under the name of Sing Fuels Pte. Ltd. (Hellas). Investment will be made to increase the company’s current headcount, adding more traders, and broadening its service offering in Greece.

MT: After the acquisition, what is the total headcount for Sing Fuels?

Our continued business expansion as part of this partnership – including the number of staff, penetration of segments and marine products – will be executed in a timely manner and supported by a business plan. Recruitment will start immediately with the aim to add more staff to the growing team.

MT: Moving forward, and on the back of IMO 2030/2050, what are the future developments in the pipeline for Sing Fuels?

We are continually exploring opportunities to expand to other markets and diversify our business as part of our development strategy. Not restricted by the competitive nature of the industry, Sing Fuels has steadily expanded its market presence into South Africa, the United Arab Emirates, United Kingdom, and the United States, since the company’s inception in 2012. 

Business diversification has allowed Sing Fuels to stay relevant in an industry with relatively uniform offerings. For instance, the company has also entered the lubricants market for automotive and industrial needs. 

As in many other industries, digitalization and big data is becoming more important in the maritime industry as well. Sing Fuels has embarked on a cycle of transformation, a notable project was the implementation of an ERP system with API connectivity to the data and credit agencies which aids Sing Fuels to make informed decisions based on data. We will have a Chief Innovation and Sustainability Officer join the business at the end of Q3, 2022 to drive our digital agenda.

At the same time, we are also embedding practical sustainability measures into key operational areas of our business. As a company, we are committed to investing to stay ahead on all new and alternative fuels to ensure that our products and services continue to meet our customers’ needs and are able to support them in realising their sustainability goals.

This is in line with the International Maritime Organisation’s decarbonisation ambitions, and we are actively exploring alternate platforms for championing investments in liquid ammonia, green hydrogen, low carbon vessels, and carbon capture technologies.

Related: Sing Fuels to acquire Prime’s Bunkersplus Services in Greece

 

Photo credit: Sing Fuels Pte. Ltd.
Published: 30 June, 2022

Related Topics:
Continue Reading

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”.
Admin

Published

4 hours ago

on

July 22, 2026

By

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

Continue Reading

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.
Admin

Published

4 hours ago

on

July 22, 2026

By

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

Continue Reading

LNG Bunkering

PIL’s LNG dual-fuel boxship “Kota Elok” arrives in Singapore on maiden call

As the first of 13 new 13,000 TEU vessels joining its fleet, Kota Elok is equipped to operate on LNG and low-sulphur fuel oil that helps reduce our greenhouse gas emissions.

Admin

Published

1 day ago

on

July 21, 2026

By

PIL's LNG dual-fuel boxship “Kota Elok” arrives in Singapore on maiden call

Singapore-based Pacific International Lines Pte Ltd on Monday (20 July) said its first 13,000 TEU LNG dual-fuel container vessel, Kota Elok, recently made her maiden call to Singapore on 15 July.

As the first of 13 new 13,000 TEU vessels joining its fleet, Kota Elok is equipped to operate on liquefied natural gas (LNG) and low-sulphur fuel oil that helps reduce our greenhouse gas emissions. 

The vessel also incorporated energy-saving features and digital technologies to reduce fuel consumption and enhance operational performance, as well as a bow windshield to improve aerodynamics, contributing to improved fuel efficiency and lower emissions over the course of long-haul voyages.

“Following Singapore, Kota Elok will continue her voyage on our East Coast Service 1 (ES1) route to South America, calling at ports in Brazil, Uruguay, and Argentina before returning to Asia,” the company said in a social media post. 

Kota Elok also became PIL’s first vessel to receive Lloyd’s Register certification for compliance with the IACS UR E26 and UR E27 cyber security requirements.

Developed by the International Association of Classification Societies (IACS), UR E26 and UR E27 are mandatory cyber resilience requirements for newbuild vessels contracted from 1 July 2024. 

 

Photo credit: Pacific International Lines
Published: 21 July, 2026

Continue Reading

Trending