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Alternative Fuels

Bunker Holding Group secures record-breaking credit facility of USD 1.11 billion

Higher credit facility allows for Bunker Holding Group to extend clients’ much needed credit lines as liquidity in bunkering is pivotal, especially with transition to alternative fuels.

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Bunker Holding Group, the world’s largest bunkering company, on Thursday (27 April) said it landed an unsecured committed bank credit facility of USD 1.11 billion based on an international bank syndicate.

In addition, the Group’s overall funding framework has been raised from USD 2.4 billion  to USD 3.2 billion, an increase by 33% compared to the previous framework. The higher credit facility allows for Bunker Holding Group to extend clients’ much needed credit lines as liquidity in bunkering is pivotal, especially as the transition to alternative fuels continue to drive up prices.

This new credit facility is backed by 15 banks from Europe, Middle East, and Asia, adding an increased global aspect to the banking partners that comprise the Bunker Holding Group’s new credit syndicate. This underlines the trust shown in Bunker Holding Group across international markets.

“Bunker Holding Group has for the past more than 40 years shown strong positive financial results, and we are honoured by the support and trust that our 15 banking partners worldwide have shown us. This has resulted in a record-setting credit facility and shows a strong commitment towards our strategy for our future growth,” says Keld R. Demant, CEO of Bunker Holding Group.

Leading up to IMO2020, Bunker Holding Group was able to secure its largest credit facility in 2019, backed by 12 banks. Building on the previous bank syndicate, strategic banks from both Asia and Middle East have now joined, enabling local banking business to be conducted where the trading takes place.

“Having now entered into agreements with new banks in our busiest regions is a major step forward, as it allows us to stay even closer to where our clients operate. Adding banks and raising our credit capacity sends a strong signal, and I look forward to working with both previous and new partners,” says Christian Mens, Group Treasury Director at Bunker Holding Group.

While securing Bunker Holding Group’s largest credit facility yet for the next five-years, linking it to sustainability has been another milestone event. As Bunker Holding Group has been focusing on the sustainability agenda, publishing its first ever ESG-report in 2022, by adding KPIs towards environment, social, and governance in the credit facility is a testament to the joint commitment of moving the needle on these important issues.

“We received very positive feedback from banking partners after publishing our first ever ESG-report in 2022. It’s evident that this agenda is very important and that it will continue to be so in the future, and at Bunker Holding Group, we are leaning heavily into this. Staying ahead of the curve in this matter is not just good business, it is also vital to our future as an industry,” says Michael Krabbe, Chief Financial Officer at Bunker Holding Group.

The bank syndicate had closed on the new running five-year facility as of April 2023.

 

Photo credit: Bunker Holding Group
Published: 3 May, 2023

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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.

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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

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LNG Bunkering

CIMC SOE secures order for 12,000-cbm LNG bunkering vessel from Sinopec Clean Energy

Once operational, the vessel is expected to strengthen Sinopec’s domestic coastal LNG bunkering network and help address gaps in China’s alternative fuel bunkering infrastructure.

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CIMC SOE secures order for 12,000-cbm LNG bunkering vessel from Sinopec Clean Energy

China’s Nantong CIMC Sinopacific Offshore & Engineering Co., Ltd. (CIMC SOE) recently signed a contract with Sinopec (Beijing) Clean Energy Co., Ltd. to build a 12,000-cubic metre (m3) LNG bunkering vessel, according to Chinese maritime media.

The vessel is scheduled for delivery in 2028 and will support Sinopec’s efforts to expand its presence in the marine clean energy sector.

Once operational, the vessel is expected to strengthen Sinopec’s domestic coastal LNG bunkering network and help address gaps in China’s LNG bunkering infrastructure.

With this signing , CIMC Pacific Offshore Engineering’s LNG bunkering vessel orderbook is further strengthened, maintaining its leading position in the global market for small and medium-sized LNG bunkering vessels.

The contract also marked another milestone for CIMC SOE, which has seen a sharp increase in orders and business performance this year amid a surge in domestic LNG vessel demand.

 

Photo credit: Nantong CIMC Sinopacific Offshore & Engineering
Published: 21 July, 2026

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Nuclear

ABS awards AiP to Korean institute for SMR-powered container ship concept design

KRISO says AiP recognises the technical feasibility and safety of its concept design, marking an important milestone toward the development of next-generation nuclear-powered commercial ships.

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ABS awards AiP to Korean institute for SMR-powered container ship concept design

Korea Research Institute of Ships & Ocean Engineering (KRISO) on Thursday (16 July) received Approval in Principle (AiP) from the American Bureau of Shipping (ABS) for its concept design of a 15,000 TEU Small Modular Reactor (SMR)-powered container ship utilising Molten Salt Reactor (MSR) technology.

KRISO said the AiP recognises the technical feasibility and safety of its concept design, marking an important milestone toward the development of next-generation nuclear-powered commercial ships.

“This achievement demonstrates international recognition of KRISO’s technological capabilities in the rapidly evolving field of nuclear-powered shipping, supporting the transition toward low-carbon maritime transport,” it said. 

Building on this milestone, KRISO will continue advancing basic and detailed ship design, paving the way for future demonstration and commercialisation of SMR-powered vessels. 

Through continued R&D and international collaboration, KRISO remains committed to strengthening next-generation maritime technologies and contributing to the safe deployment of nuclear propulsion in the maritime industry.

 

Photo credit: Korea Research Institute of Ships & Ocean Engineering
Published: 21 July, 2026

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