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TFG Marine: All hands on deck for greater transparency in the bunkering industry

There is a continuing lack of transparency in the way marine fuel is delivered and this has to change, said Kenneth Dam, TFG Marine Global Head of Bunkering.

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The following is an article written by Kenneth Dam, TFG Marine Global Head of Bunkering, on Thursday (4 August) putting forward the case for the widespread adoption of mass flow metering technology to increase efficiencies and to help stamp out malpractice in the marine fuel supply industry:

The bunkering industry provides over 200 million metric tonnes of marine fuel annually along main shipping thoroughfares, at ports and offshore, to the tens of thousands of commercial vessels that sail the world’s seas. This is a market that was worth USD110 billion globally in 2020 and is projected to reach USD165 billion by 2030.

Yet, despite its scale and the essential role it plays in supporting global maritime trade, much of the industry is still steeped in old-fashioned, outmoded operational practices. There is a continuing lack of transparency in the way marine fuel is delivered. This has to change. It is commercially and reputationally damaging. It is holding back our industry and undermining its prospects for growth.

TFG Marine entered the bunkering market in 2020 with a clear mission: to provide a premium bunkering fuel service, by deploying new technologies that increase efficiency and by ensuring transparency for our customers. We are a joint venture, owned by one of the world’s largest energy providers and two of its biggest shipping operators. That gives us industry knowledge and – as customers ourselves – an innate understanding of the challenges our customers frequently face.

A lack of transparency distorts markets

There is an inherent ambiguity in the way bunker fuel has traditionally been delivered. Marine fuels are supplied around the globe at different densities and in diverse atmospheric and climatic conditions. These variables have a significant impact on the quality and quantity of the bunker fuel supplied. Traditional delivery systems, which only monitor volume flow, cannot capture these differentials with any precision. Suppliers and customers therefore rely on manual measurement and adjustment formulae to agree the specifications for every transaction.

The complexity and opacity of this process makes it difficult to track and report transactions with confidence and accuracy. It also leaves customers vulnerable to fraud and corruption. Some operators have taken advantage of this complexity to game the system. There is a long and shameful history of dubious practices by bunker fuel suppliers that have short-changed ship owners on volumes.

Supplier malpractice takes many forms. It can include delivering fuel with high water, slops or air content, providing incorrect fuel temperatures or tampering with gauging, delivery equipment or paperwork to skew delivery data.

So why do so many operators continue to accept the status quo, when unacceptable practices are rife? The unfortunate reality is that time-consuming and costly counterparty disputes are seen as inevitable – a cost of doing business. And with the important exception of Singapore, there has been scant interest from regulators up to now in resolving the issues. The prevailing view seems to be that inaccuracies even out over time.

Superficially that may sound reasonable, but it is not borne out in practice. A recent Blue Insight study assessed bunker deliveries at Rotterdam and Fujairah, the world’s second and third largest bunkering ports. It concluded that reported VLSFO bunker volumes at these two locations resulted in USD250 million in operating losses for suppliers across 2021. The report went on to argue that, since suppliers would not voluntarily incur these losses over such a sustained period, the only plausible explanation was that volumes were being over-reported. In other words, intentionally or not, bunker buyers were being short-changed on volumes.

In the end, it is hard to avoid the conclusion that, whatever the reason, the opacity of bunker operations distorts markets and disadvantages customers.

MFMs and digital data

Frustratingly for those who wish to operate in a transparent market, there is a proven technology that can eliminate the transactional inaccuracies, but it has not been widely adopted. Mass flow meters (MFMs) make use of the Coriolis effect to allow the flow of fluids and gases to be measured with a high degree of precision. When fitted to ships, MFMs produce computerised records of exact volumes delivered in real time. Both counterparties have access to the same data. When it comes to transactions, what you see is what you get. Supply shortfalls no longer happen.

Another big advantage is that the more detailed transaction data afforded by MFMs allows ship owners to analyse, monitor and improve their impacts. This is vital. The maritime industry has challenging decarbonisation targets. Shippers need accurate fuel consumption data to calculate their GHG emissions. Without this, it becomes very hard to assess the effectiveness of decarbonisation initiatives.

TFG Marine is committed to implementing mass flow meters to offer our customers transparency and certainty. Over a third of our fleet already has MFM technology; more of our barges will be MFM-equipped over the next two years. That compares with an industry-wide average for MFM adoption of less than one percent.

While other industries have embraced digitalisation, the shipping industry has fallen well behind. MFMs have been used in a wide range of industries for many decades. While it is true that, until relatively recently, most ships’ systems could not easily incorporate MFM equipment, that is no longer the case. The industry is running out of excuses to avoid modernising and bringing into force rigorous standards of reporting and accountability.

It’s time to make MFMs mandatory

As one of the world’s largest marine fuel suppliers, we are engaging with customers, peers, governments and authorities to address the industry-wide challenges that have plagued the marine fuel sector for far too long. Together with a growing number of major industry participants, we are now calling for the widespread adoption of mass flow metering.

We have joined with 50 other major industry participants representing 2,000 vessels to appeal to the Rotterdam and the Antwerp port authorities to follow Singapore’s lead and introduce mandatory MFM delivery in their jurisdictions.

The experience of the Maritime Port Authority of Singapore, which regulates the world’s largest bunker market, has already shown what can be achieved. In 2017, after painstaking work to introduce common standards, it mandated the use of mass flow meters (MFMs) for all bunker fuel deliveries within its jurisdiction.

Mandating MFM usage was transformative for Singapore. With analogue and manual processes increasingly consigned to the past, it is now viewed as the world’s most trustworthy bunker location. Singapore will continue to benefit from being a frontrunner in bunkering technology. It’s time for the rest of the world to follow suit.

A sustainable future for worldwide shipping requires action now. We need mass flow meters across the bunkering industry. We call on our peers, our partners and industry regulators to join with us and help make that happen.

 

Photo credit: TFG Marine
Published: 5 August, 2022

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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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