Business

LR and Icebreaker One announce research programme to drive investment in net-zero shipping

Research will give initiators and investors an understanding of how data sharing and risk model changes can drive zero-emission ship financing

Published

3 years ago

February 28, 2023

Admin

Lloyd’s Register (LR) on Tuesday (21 February) announced a new research project with Icebreaker One, an independent, non-profit organisation which aims to support the decarbonisation of shipping by influencing investment decisions with data.

The research will aim to help identify and amplify discussions around the key barriers that organisations face for net zero shipping investment and how to overcome these with a ‘net-zero data sharing ecosystem’ that encourages first movers to invest with data-driven rationale.

This project includes interviews and a creative workshop between key stakeholders at both organisations to investigate the potential data sharing has for the maritime energy transition.

By pooling resources, the project will see research with key stakeholders to propose and assess innovations in data sharing, data transparency and ways to best support shipping industry funders to make net zero investments. The project will consider the current available frameworks for assessing decarbonisation technologies and how data contributes to the outcome of these assessments.

Duncan Duffy, Global Head of Technology – Electro Technical Systems, Lloyd’s Register, said: “Lloyd’s Register is excited to be involved in this research project with Icebreaker One which will underline the value in data sharing if the maritime industry is to achieve its decarbonisation goals.

“LR is a driving force in enabling and supporting shipping industry funders to make net zero investments and this research, along with its potential results, will encourage new processes and systems as tools in the energy transition journey. The project will equip LR with the knowledge and understanding of the barriers for investing in net zero shipping and enable us to offer effective solutions which address the crucial challenges our industry faces.”

Gavin Starks, CEO and Founder at Icebreaker One, Icebreaker One, said: “To get to net zero, we have to finance the decarbonisation of shipping. This means maritime investors need access to trusted, accurate data. Our work with LR will help develop new processes and systems for sharing data that support the race to zero. We’re delighted to be working together to build a web of net-zero data for shipping.”

This research will encourage new processes and systems in the drive for zero emissions and further underlines LR’s commitment to the maritime energy transition, supporting the recent announcement of a Zero Ready Framework to provide the industry shipping with clarity over zero carbon readiness.

The findings from the research project will be presented in a workshop scheduled for early 2023. The workshop will be split into different sessions exploring identified the core challenges for data sharing in the shipping industry. Participants will then co-create and discuss solutions as a group.”

Photo credit: Kinsey on Unsplash
Published: 28 February, 2023

Winding up

Singapore: Notice of intended dividend issued for Xihe Holdings’ subsidiaries

Creditors will need to produce proofs of debt to liquidators of Da Xin Tankers and Nan Chiau Maritime by 5 August, according to Government Gazette notice.

Published

5 hours ago

July 23, 2026

Admin

Two notices to declare the intended dividend of Xihe Holdings’ subsidiaries to their creditors have been posted on the Government Gazette on Wednesday (22 July).

The subsidiaries are Da Xin Tankers Pte Ltd and Nan Chiau Maritime Pte Ltd.

The following are the details of the notices of intended dividend:

Name of Company : Da Xin Tankers (Pte) Ltd (In Creditors’ Voluntary Liquidation)
Unique Entity No. / Registration No. : 198400895W
Address of Registered Office : c/o Grant Thornton Singapore Private Limited, 8 Marina View, #40-04/05 Asia Square Tower 1, Singapore 018960
Last Day for Receiving Proofs : 5 August 2026 at 5:00 pm by email to [email protected]
Name of Liquidators : Paresh Tribhovan Jotangia and Ho May Kee
Address : c/o Grant Thornton Singapore Private Limited, 8 Marina View, #40-04/05 Asia Square Tower 1, Singapore 018960

Name of Company : Nan Chiau Maritime (Pte.) Ltd. (In Creditors’ Voluntary Liquidation)
Unique Entity No. / Registration No.: 200814296Z
Address of Registered Office : c/o Grant Thornton Singapore Private Limited, 8 Marina View, #40-04/05 Asia Square Tower 1, Singapore 018960
Last Day for Receiving Proofs : 5 August 2026 at 5:00 pm by email to [email protected]
Name of Liquidators : Paresh Tribhovan Jotangia and Ho May Kee
Address : c/o Grant Thornton Singapore Private Limited, 8 Marina View, #40-04/05 Asia Square Tower 1, Singapore 018960

Photo credit: steve pb from Pixabay
Published: 23 July, 2026

Biofuel

South Korea: S-Oil launches B30-VLSFO bio bunker fuel supply

Company says it has established an integrated operating system in the Ulsan region covering the entire value chain, from feedstock procurement and blending to supply.

Published

5 hours ago

July 23, 2026

Admin

South Korea: S-Oil launches B30-VLSFO bio bunker fuel supply

South Korean petroleum and refining company S-Oil on Wednesday (22 July) said it has started supplying B30 very low sulphur fuel oil (VLSFO), as the company seeks to support shipping’s decarbonisation efforts and growing demand for lower-carbon bunker fuels.

The company said its B30 VLSFO contains 30% sustainable biofuel blended with conventional VLSFO and can be used without requiring modifications to existing vessels, enabling shipowners to comply more readily with emissions regulations from the International Maritime Organization (IMO) and the European Union (EU).

S-Oil said it has established an integrated operating system in the Ulsan region covering the entire value chain, from feedstock procurement and blending to supply. The system combines VLSFO produced at its Onsan refinery with biofuel production facilities and storage infrastructure in the Ulsan region, allowing the entire process to be carried out within a single logistics hub.

According to the company, the integrated supply chain reduces transportation requirements during production while improving supply efficiency and reliability.

S-Oil also highlighted Ulsan Port as a strategic location for marine biofuel supply, noting the port has strong demand for bio-bunker fuels, particularly from car carriers, enabling prompt and stable deliveries to key customers.

An S-Oil official stated: “In the bio-marine fuel market, not only product quality but also securing a stable supply of raw materials and an efficient supply system are important competitive advantages.

“Based on our existing bunkering business capabilities and the excellent supply infrastructure in the Onsan area, we plan to supply stable and competitive low-carbon fuel.”

Photo credit: S-Oil
Published: 23 July, 2026

Decarbonisation

Yang Ming and PSA to develop integrated sea-land decarbonisation solutions

Both will explore solutions spanning emissions measurement and verification, a digital Book-and-Claim framework, and a joint maritime-land inset token package.

Published

5 hours ago

July 23, 2026

Admin

Yang Ming and PSA to develop integrated sea-land decarbonisation solutions

PSA International (PSA) on Monday (20 July) said it has signed a Memorandum of Understanding (MoU) with Yang Ming Marine Transport Corporation (Yang Ming) to jointly accelerate the adoption of low-carbon solutions across the maritime value chain.

Beyond emissions measurement and verification, the collaboration will focus on a digital Book-and-Claim framework and a joint maritime-land based inset token package.

“This synergy provides cargo stakeholders with a transparent and accountable sea-land pathway to achieve their decarbonisation targets,” PSA said on its website.

Yang Ming launched the green transport service, EcoSea+. This initiative integrates Yang Ming’s low-carbon navigation capabilities to empower customers with a flexible and transparent strategy to effectively reduce their Scope 3 transportation emissions. By joining forces with PSA, Yang Ming is able to expand the impact of these sustainability actions beyond the ocean.

Building on its position as a global port operator, PSA advances its Node to Network strategy through integrated port and supply chain capabilities that enable a green network of terminal and landside operations to reduce end-to-end supply chain emissions.

The agreement was officially signed by Mr Ivan Chiang, Chief Logistics Officer & Senior Vice President of Yang Ming, and Mr Eddy Ng, Group Head of Operations, Technology and Sustainability of PSA International.

Mr Ong Kim Pong, PSA International Group CEO, said, “As responsible stewards of tomorrow, PSA is committed to delivering sustainable impact across the global port and supply chain ecosystem.

“Tackling the challenges arising from climate change will require the collective efforts of all players in the maritime supply chain sector. We are excited to partner Yang Ming on the decarbonisation of global supply chains and support the transition towards a more sustainable global economy.”

Photo credit: PSA International
Published: 23 July, 2026