Marine fuels testing company VPS on Tuesday (1 July) announced the opening of its brand new testing laboratory in Shanghai, China.

The company said this strategic investment strengthens VPS’ global laboratory network and reinforces the company’s commitment to delivering faster, locally-based testing services to customers operating in one of the world’s most important maritime markets. 

“Shanghai has emerged as one of the fastest growing marine bunkering hubs and is expected to play a major role in the future supply of both traditional fossil fuels and emerging low-to-zero carbon fuels,” it said in a statement. 

“The new Shanghai laboratory will provide comprehensive marine fuel testing services, enabling customers to benefit from further improved turnaround times and enhanced operational decision making.”

The facility will support vessel owners, operators, charterers and fuel suppliers, with rapid, independent analysis and technical expertise, helping stakeholders to manage fuel quality risks, protect assets and maintain regulatory compliance.

Dr. Malcolm Cooper, CEO at VPS, said: “VPS is pleased to announce the opening of our new Shanghai Laboratory, which will provide fuel quality testing for bunker fuels including methanol. China is central to the global shipping industry being the world’s largest shipbuilder, producer of shipping containers and operator of the biggest commercial fleet. Shanghai is therefore the perfect home for our latest laboratory, as VPS is the world’s leading fuel testing company”.

The investment comes as marine fuel volumes in Chinese ports continue to grow and customers increasingly demand faster testing and advisory services. The new facility further enhances the VPS global footprint, which already includes laboratories in Rotterdam, Singapore, Fujairah, Houston and Manchester, supported by an international team of technical experts, sales professionals and customer service specialists.

In addition to supporting conventional marine fuels, the Shanghai laboratory will provide testing and advisory services relevant to the industry’s growing adoption of low-to-zero carbon fuels, assisting customers to navigate emerging fuel quality performance and compliance challenges.

Andrew Morton, VPS MD-AMEA, stated: “The opening of our new laboratory in Shanghai’s Lingang New Area, positions VPS at the heart of one of China’s most important maritime and industrial growth hubs. This investment reflects our confidence in the Chinese maritime market, our commitment to supporting customers closer to where they operate and our belief that Asia will remain at the forefront of shipping’s energy transition.”

The Shanghai laboratory will serve both domestic and international customers operating throughout China and across the wider Asia-Pacific region, supporting ongoing growth in marine fuel testing demand and providing a platform for future expansion of VPS services within the Chinese maritime sector.

Photo credit: VPS
Published: 1 July, 2026

Turkey-based marine fuel supplier Arkas Bunker on Tuesday (30 June) said it has completed 60 biofuel bunkering operations across 32 different vessel types over the past two years in the country. 

Seçkin Gül, General Manager of Arkas Bunker said during that period, the company supplied more than 15,000 metric tonnes (mt) of biofuel and achieved an emissions reduction of 14,500 mt.

He said this during the Biofuels in Shipping seminar held in Istanbul, where the company and DB Tarımsal Enerji addressed the use of biofuels in shipping through the lenses of sustainability, technical compatibility, regulations, and field experience.

“The transition to low-carbon fuels in shipping is no longer a long-term goal—it is today’s priority. At Arkas Bunker, we view biofuel not merely as an environmental alternative, but as a solution that is compatible with existing vessel infrastructure, proven in real-world operations, and supportive of the sector’s compliance with regulations, Gül said. 

Drawing attention to the growing role of carbon intensity in vessel operations, Gül stated: “Carbon cost will increasingly influence a wide range of areas—from fuel selection to route planning, and from customer preferences to financing conditions. 

“For this reason, access to low-carbon fuels will not only be an environmental responsibility for the maritime sector, but also a key component of commercial competitiveness. Strengthening Türkiye’s capabilities in production, supply, and bunkering, as well as strengthening collaboration among producers, suppliers, and end-users, is of great importance for regional competitiveness.”

The seminar also highlighted Turkey’s potential to become a regional supply hub for low-carbon marine fuels.

“With its strategic geographic location, strong port infrastructure, advanced logistics network, maritime expertise, and domestic biofuel production capacity, Türkiye is well positioned to play a significant role across Mediterranean, Black Sea, and European trade routes,” the companies said. 

Photo credit: Arkas Bunker
Published: 1 July, 2026

Following two financial years marked by significant losses in subsidiaries, Selfinvest and USTC on Tuesday (30 June) said they are back on track, delivering a profit before tax and special items of more than DKK 1 billion, securing a place among the Group’s Top Five financial results.

While USTC serves as the parent company for the Østergaard family’s operating companies, Selfinvest is the family office, which includes ownership of Selected Car Group as well as investment activities and property assets.

Since USTC was founded as a small local shipping company on the shores of Denmark, the maritime industry has been the driving force behind its expansion. However, substantial losses in Africa within subsidiary Bunker Holding have weighed heavily on the financial performance of Selfinvest and USTC over the past two years. With these extraordinary losses now fully recognised, the Group has regained momentum and delivered the fourth-best financial result in its 150-year history.

As a conglomerate operating in a range of industries, the Group’s diversified ownership strategy has again demonstrated strength and resilience. Bunker Holding, SDK FREJA, Uni-Tankers, and CM Biomass each delivered a profit before tax and special items exceeding DKK 100 million. Combined, the Group generated a profit before tax and special items of more than DKK 1 billion on revenue of DKK 100 billion.

“It is obviously encouraging to deliver a solid financial result with the majority of our companies contributing positively. But we are not where we need to be. As a Group, we are in the middle of a transformation, where volatile global trade and unpredictable geopolitical shifts are no longer the exception but the norm. We need to further strengthen our adaptability and commercial discipline across all our companies to maintain the positive momentum,” says Nina Østergaard, Co-owner and CEO of USTC.

During the past year, USTC launched the extensive cultural programme Founder’s Mentality, designed to revitalise the shared culture and core values that drives the Group forward: business acumen, leadership, and decency.

Selfinvest delivered a strong financial year, benefiting in part from favourable financial market conditions while also generating significant investment outperformance. 2026 also marked the completion of the family office’s largest-ever construction project, Kabelbyen in Middelfart, Denmark, which will house a number of the Group’s companies as well as external tenants.

“As stewards of the Østergaard family’s activities for both current and future generations, our responsibility is to ensure stability while remaining agile. Over the past year, we have focused heavily on integrating Selfinvest and USTC organisationally, increasing our visibility through rebranding, and further strengthening the financial platform that is the cornerstone of our active ownership of the individual companies,” says Mikkel Hammershøj, CEO of Selfinvest.

During the 2025/26 financial year, three Group companies appointed new Chief Executive Officers. Peder Møller was appointed in Bunker Holding, Steen Borgholm in Selected Car Group, and Thomas Lausten in Unit IT. 

Alongside the high-profile CEO appointments, USTC has strengthened several of its boards. Henrik Andersen, Group President and CEO of Vestas Wind Systems A/S, recently joined the Board of Bunker Holding as Vice Chairman and will also serve on the Board of USTC.

After 14 years of service on the Group’s boards, USTC’s current Vice Chairman, Klaus Nyborg, will step down and hand over his responsibilities to Christian Junker, who already serves as Chairman of CM Biomass and the Danish construction company Guldfeldt A/S, which he co-owns with Torben Østergaard-Nielsen.

Over the past month, additional USTC companies have strengthened their boards with highly respected business leaders, including Tina Revsbech, CEO of Maersk Tankers, and Mads Peter Zacho, CEO of Navigator Gas. In addition, board professional and adviser Kenneth Steengaard, together with Peter Appel, Partner at Gorrissen Federspiel, have joined boards within the USTC Group.

The Board of Directors of USTC will henceforth comprise Torben Østergaard-Nielsen (Chairman), Christian Junker (Vice Chairman), Nina Østergaard, Mia Østergaard Rechnitzer, Peter Appel, Jeppe Christiansen, and Henrik Andersen.

Photo credit: USTC
Published: 1 July, 2026