Hong Kong’s Marine Department (MD) on Wednesday (3 June) launched the Quality Bunker Operator Scheme to encourage bunker operators to install and use mass flow meter systems (MFM systems) on their bunker vessels.

MD said the scheme aims to enhance Hong Kong’s bunkering service quality and the competitiveness of Hong Kong ports, thereby further consolidating Hong Kong’s position as an international maritime centre and a major bunkering port.

Under the Scheme, bunker operators of traditional maritime fuel and biodiesel that install and use MFM systems on their bunker vessels, with the MFM systems inspected and certified by an accredited body in accordance with the International Organization for Standardization’s ISO 22192 Standard or equivalent requirements, can apply to the MD for inclusion in the scheme’s “List of Quality Bunker Vessels”, provided they meet the relevant technical and operational requirements. 

Details of the bunker vessels successfully included in the List will be published on a dedicated page on the MD’s website for reference by shipping companies and relevant stakeholders.

Participation in the Scheme is voluntary. In addition to receiving recognition from the MD, participating bunker operators will benefit from enhanced corporate image and competitiveness through the adoption of MFM systems, thereby boosting customers’ confidence and helping to create new business opportunities.

 A spokesman for the MD, said: “As an international maritime centre supported by our country, Hong Kong has a strategic location adjacent to major international fairways. Coupled with years of development in marine fuel bunkering, Hong Kong possesses rich experience and talent in the field. For many years, Hong Kong has consistently ranked as the seventh-largest bunkering port globally, the second-largest in our country, and the largest in the Greater Bay Area, providing reliable and competitive fuel bunkering services to ocean-going vessels from around the world. 

“As the international shipping industry has an increasing demand for accuracy and transparency in bunkering services, service quality and measurement precision in bunkering operations have become important indicators of a bunkering port’s competitiveness. The Scheme will enhance bunkering accuracy and transparency, further enhancing the quality of Hong Kong’s bunkering services.

The spokesman added that comprehensive port services are one of Hong Kong’s key advantages as an international maritime centre.

“We will also mandate the use of MFM systems on all methanol bunker vessels this year to ensure that Hong Kong continues to provide high-quality bunkering services in the era of green maritime fuels.” 

Note: The application form for the Scheme can be found on the MD’s website. Interested bunker operators can download the application form from the website or contact the MD’s Green Maritime Fuel Team via email ([email protected]) for details.

Photo credit: Manifold Times
Published: 4 June, 2026

Seaspan Corporation (Seaspan) and Hapag-Lloyd on Wednesday (3 June) announced the successful completion of the first of the five vessel conversions under their methanol retrofit programme with the delivery of Seaspan Yangtze.

From the early SAVER (Seaspan Action for Vessel Energy Reduction) programme to today’s CleanBlue initiative, Seaspan has committed over USD 230 USD million across 86 vessels, executing more than 550 efficiency and retrofit projects.

Following Seaspan Yangtze, the remaining vessels planned for retrofit under the programme are Seaspan Amazon, Seaspan Ganges, Seaspan Thames, and Seaspan Zambezi. Each retrofit is expected to reduce well-to-wake CO₂e emissions by approximately 30,000 to 50,000 metric tonnes per vessel annually when operating on low-carbon methanol, while also extending vessel lifespan and enhancing fuel flexibility.

“Decarbonisation is not just about building the fleet of tomorrow, it is also about unlocking the full potential of the fleet we have today. Retrofitting and upgrades on existing fleets play a practical, immediate, and economical role in accelerating shipping’s decarbonization journey,” said Bing Chen, Chairman, President and CEO of Seaspan. 

“Project SAVER CleanBlue highlights Seaspan’s strong customer partnerships, deep technical expertise, and unique platform integrated with JV partners, such as WattSpan Maritime Technology, in executing complex and large-scale retrofit projects.”

“The successful conversion of the Seaspan Yangtze together with the planned retrofit of its four sister vessels is another important step on our ambitious path towards net-zero fleet operations by 2045,” said Silke Lehmköster, Managing Director, Fleet, Hapag-Lloyd. 

“Together with Seaspan, we are demonstrating that retrofitting existing vessels for low-carbon methanol can be a practical way to reduce emissions in shipping.”

Photo credit: Seaspan
Published: 4 June, 2026

By Capt. Vikas Pandey, Founder & CEO, Shipfinex

The numbers on alternative-fuel orders look encouraging. Seventy-two percent of newbuild capacity ordered in the first ten months of 2025 was for alternative-fuel vessels, with LNG dual-fuel accounting for 60% of that figure. More than 1,369 LNG dual-fuel vessels are now in operation or on order globally. By most measures, the transition appears to be happening.

Look at who is actually placing those orders. MSC. Hapag-Lloyd. CMA CGM. Carriers with balance sheets large enough to absorb the cost premium of alternative-fuel newbuilds and relationships with Chinese leasing companies that extend leverage ratios unavailable to most of the industry. The Strait of Hormuz disruption this March accelerated that activity further: LNG tanker charter rates spiked above $200,000 per day and carriers with deep pockets moved to lock in fuel flexibility. Meanwhile, for vessels under 6,000 TEU, orders for conventionally fuelled tonnage rose to 28% of capacity ordered in 2025, up from 19% the year before. That is not a story of broad commitment to green fuels. It is a story about who has access to capital.

An alternative-fuel newbuild costs materially more than a conventional equivalent. Methanol-ready designs, ammonia-ready structures, LNG dual-fuel systems, each carries a cost premium above the base vessel price. For an independent shipowner financing through a traditional bank, that gap is increasingly difficult to bridge. Top-40 bank lending to shipping fell from $454.9 billion in 2011 to $284.3 billion by end-2023. The Chinese leasing companies that absorbed part of that contraction are structurally oriented toward Chinese-built vessels under long-term contracts with tier-one counterparties. Independent bulk owners, mid-tier tanker operators, feeder container companies: they are working with a materially shrunken pool of willing lenders at precisely the moment they are being asked to upgrade their fleets.

This bifurcation deserves more attention from the marine fuels industry than it currently receives. Bunkering infrastructure investment follows demand signals. Alternative-fuel bunkering at secondary ports, methanol at regional hubs, LNG outside the major transhipment centres, requires a broader fleet base of alternative-fuel vessels to justify the investment. If green fuel adoption stays concentrated among a handful of majors rather than spreading across the independent owner fleet, the economics of scaling bunkering supply infrastructure outside the primary corridors remain thin.

Capital market structure and marine fuel adoption are connected, and pretending otherwise slows both. Digital instruments representing economic exposure to vessel-owning Special Purpose Vehicles, structured within regulated frameworks like VARA in Dubai, can extend the base of capital available to shipowners below the tier-one threshold. That capital base does not replace bank lending. It reaches operators that bank lending currently does not.

The Hormuz disruption reminded the industry that fuel supply chains carry geopolitical risk. The financing gap raises a quieter but equally structural point: the demand side of the green fuel equation depends on shipowners being able to afford the vessels that create that demand. Alternative-fuel bunkering infrastructure will scale when the fleet ordering those vessels does. Right now, that fleet is smaller than the order book numbers suggest.

About the Author

Vikas Pandey is a Master Mariner with decades at sea across various vessel categories. He is Founder and CEO of Shipfinex FZCO, a maritime asset tokenization platform operating under VARA In-Principle Approval (IPA/26/01/002) in Dubai and registered as a Virtual Asset Service Provider in Poland.

Disclaimer: This article is for informational purposes only and does not constitute financial advice or a solicitation to buy or sell any financial instrument or virtual asset. Maritime Asset Tokens are virtual assets; values may decline materially below purchase price. VARA In-Principle Approval does not constitute a final licence.

Linkedin: https://ae.linkedin.com/in/capt-vikaspandey
Website: https://www.shipfinex.com/

Photo credit: Shipfinex
Published: 4 June, 2026