Marine fuels supplier and trader Propeller Fuels (Propeller) on Tuesday (29 September) announced the acquisition of the business of Shipergy, the technology-led marine fuels trading company.
Under the transaction, Shipergy’s assets, including its trading operations, client relationships and technology, will transfer to Propeller on 1 October 2026.
Propeller, which was founded in Hartlepool and operates its physical supply business from Hull, entered marine fuels trading in 2019. It currently has trading offices in London, Athens, Dubai and Singapore, and has also partnered with Proteus to serve the US and wider Americas market.
The acquisition will expand Propeller’s trading operations and add Hong Kong to its locations.
The Shipergy brand will remain active within the enlarged group. All current Shipergy traders will continue to serve their clients under the Shipergy name, and the team will continue to procure bunkers for the Signal managed fleet.
Propeller said the transaction will also strengthen its relationship with The Signal Group, with the two businesses having worked together in recent years.
Both companies have developed technology systems for their trading and operational activities. Propeller has developed a proprietary system covering trading, finance and credit, while Shipergy has developed tools focused on fuel quality and energy content, as well as AI-based workflows.
Following the acquisition, Shipergy’s back-office functions will be integrated into Propeller, with some team members joining the group. Propeller said the combined operations are expected to increase group trading volumes by around 50%.
Propeller said it will focus on conventional bunkering activities. Technology products developed by the two companies, including BunkerBridge and Energy Beacon, will remain outside the group and continue to be developed separately under Daniel Rose.
HSBC UK, which has provided banking support to Propeller since its inception, has also arranged a new financing facility for the group alongside the acquisition. The new arrangements give Propeller more than double its present cash requirement, providing headroom for growth and allowing the group to increase its support for customers and suppliers where necessary.
Shipergy co-founder Daniel Rose will leave the trading business following a handover period and will focus on independent technology ventures separate from the group.
Robert Thompson, Chief Executive of Propeller Fuels, said: “This acquisition is a central part of our vision to take the consolidated Propeller group to the next level as we approach our tenth year. We have built Propeller patiently, from physical supply in Hull to a trading business with global reach, and Shipergy is the natural next step.
“Its traders and its technology fit hand in glove with what we have created, and together we have the scale, the people and the tools to offer our clients something the market has not seen from an independent group of our kind. I am delighted to welcome the Shipergy team on board.”
Daniel Rose, co-founder of Shipergy, said: “I could not be happier with this outcome. Shipergy attracted interest from a number of potential partners, but the culture at Propeller stood out as the best fit for our people and our clients from the very first conversation.
“Robert and his team share our belief that technology and good old-fashioned service belong together. I will be supporting the integration every step of the way. Beyond that, my future is in building independent technology that the maritime sector needs.”
From 1 October, all purchases will be made in the name of Propeller. Any pre-existing transactions concluded with Shipergy will be settled and paid in the usual way. Day-to-day contacts, service and processes for clients remain unchanged, and the teams will be in touch directly with counterparties regarding any administrative updates.
Photo credit: Manifold Times
Published: 30 September, 2026
