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Singapore bunker volume down by 4.3% on year but biofuel sales surpasses LNG

Bunker sales in 2022 included about 140,000 tonnes of biofuel blends over more than 90 biofuel bunkering operations, surpassing the 16,000 tonnes in LNG bunker sales.

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While total volume declined by 4.3% year-on-year in Singapore, bunker sales in 2022 included about 140,000 tonnes of biofuel blends over more than 90 biofuel bunkering operations, surpassing the 16,000 tonnes in Liquefied Natural Gas (LNG) bunker sales.

This was one of the main highlights in a speech by Mr Chee Hong Tat, Senior Minister of State for Finance and Transport, who was the Guest-of-Honour at the annual Singapore Maritime Foundation New Year Conversations event on Friday (13 January). He spoke on the developments and 2022 performance of Maritime Singapore.

He said Singapore remained a favoured location for bunkers and has made progress in supplying alternative fuels, such as biofuels, to support maritime decarbonisation. A total of 47.9 million tonnes of bunker sales was registered in 2022.

Mr Chee added MPA has also developed a framework for licensed bunker suppliers to supply biofuel to vessels within the Port of Singapore. 

“A provisional standard for marine biofuel specifications, for blends of up to B50, was developed in consultation with industry and researchers to support trials by the maritime community on carbon emissions reduction potentials of biofuels. Currently, commercial sales of biofuel blends of up to B24 are available for the maritime sector in Singapore,” he said.

“In December 2022, MPA and the Energy Market Authority also launched an Expression of Interest (EOI), calling for proposals to build, own and operate low or zero-carbon ammonia power generation and bunkering solutions in Jurong Island. The EOI is open until end April 2023.”

Growing our International Maritime Centre and MarineTech Ecosystem

As a leading International Maritime Centre, Maritime Singapore is home to a diverse range of maritime businesses, with more than 170 international shipping groups as well as other maritime players in the areas of finance, insurance, cybersecurity, shipbroking, law and arbitration. Despite global inflationary pressures and supply chain disruptions, our International Maritime Centre has expanded steadily in 2022. 

Last year, total business spending by shipping companies exceeded S$4.3 billion, and more than 30 companies established or expanded their operations in Singapore, supported under programmes by the Maritime and Port Authority of Singapore (MPA). This is more than 30% higher than the number of companies which expanded operations or set up in Singapore in 2021.

Singapore was also recognised as the top international maritime city in the Xinhua-Baltic International Shipping Centre Development Index and Menon Economics-DNV’s Leading Maritime Cities of the World report. 

 MPA is working with the industry, research, and the investment community to grow our MarineTech ecosystem. The number of start-ups under Port Innovation Ecosystem Reimagined @BLOCK71 (PIER71TM) has grown from 17 in 2018 when PIER71TM was launched, to close to 100 today. These start-ups have raised overS$50 million in investment in the past four years, and four start-ups have also expanded their technology solutions abroad. MPA will continue to work with our partners to reach the goal of 150 MarineTech start-ups in Singapore by 2025.

Container, Cargo Throughput and Vessel Arrival Tonnage in 2022

The Port of Singapore is essential to Singapore’s connectivity and trade with the rest of the world. In 2022, Singapore’s position as a trusted, global transshipment hub was strengthened amidst challenging global economic conditions. The Port of Singapore remained resilient compared to the decline in global container trade of about 3 to 4% in 2022. Despite the global slowdown in production and consumption, Singapore’s container throughput in 2022 reached 37.3 million twenty-foot equivalent units (TEUs), the second-highest throughput on record, and a slight decline of 0.7% from the record throughput of 37.6 million TEUs in 2021. A total of 577.7 million tonnes of cargo in 2022 was handled. Vessel arrival tonnage hit 2.83 billion Gross Tonnage (GT).

Singapore Registry of Ships among Top Registries

The Singapore Registry of Ships (SRS) continues to rank as one of the top five largest ship registries globally, with a high-quality fleet. The total tonnage of ships under the Singapore flag in 2022 was close to 96 million GT, about a 4% increase from 2021. In 2022, 25 Singapore-flagged ships from 13 companies received Green Ship certificates under the Green Ship Programme. 

Since 2011, over 650 ships have been recognised under the programme, which will continue to evolve to support the decarbonisation of the maritime sector. The SRS expects to see a steady rise in green fleet, given Maritime Singapore’s continued efforts to attract green ships into the SRS through co-developing standards and pilots with research institutes and classification societies. 

Details of Singapore’s port performance for the last ten years, from 2013 to 2022, are listed in Annex A

Singapore’s International and Regional Efforts 

MPA continues to champion issues globally through active engagement and multi-stakeholder collaboration with international organisations, including the International Maritime Organization (IMO), the International Association of Marine Aids to Navigation and Lighthouse Authorities, the International Hydrographic Organization and the International Mobile Satellite Organization. 

In December 2022, Singapore’s Tan Hanqiang was appointed Vice-Chair of the IMO’s Marine Environment Protection Committee which will review the greenhouse gas emission reduction pathways and strategies at the IMO. The appointment is a testament to Singapore’s long-standing efforts to bring parties together for consensus-building at the international level.  

Singapore is also working with countries, research and industry stakeholders to develop Green and Digital Shipping Corridors (GDSC), which serve as valuable testbeds to trial new technologies and fuels in a sandbox environment, gain operational and safety experience, optimise route planning, prior to scaling up for wider adoption. To-date, Singapore has announced a GDSC collaboration with the Port of Rotterdam to establish the world’s longest green and digital shipping corridor, and is working with the Port of Los Angeles, the Port of Long Beach, and C40 Cities towards a corridor between Singapore and the San Pedro Bay port complex.  

The Next Bound of Growth for Maritime Singapore 

Maritime Singapore will capture new opportunities and drive further growth through continued investments in capability-building, talent development and innovation, and anchored by strong tripartite partnerships.

 

Photo credit: Maritime and Port Authority of Singapore
Published: 16 January, 2023

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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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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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