Business

Argus Media: Vessels on alternative bunker fuels hit record in 2019

Orders for LNG-fuelled vessels more than tripled the average ordered between 2016 and 2018 in preparation for IMO 2030 and IMO 2050.

Published

6 years ago

February 13, 2020

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Erik Hoffman of global energy and price reporting agency Argus Media on Friday (31 January) issued a report noting the surge in alternative fuelled vessels ordered in 2019:

Last year, 100 new LNG-powered ships were ordered. This was three times more than the average number of orders between 2016 and 2018, according to DNV GL.

LNG bunker sales at the port of Rotterdam have risen exponentially — from 100t in 2016 to 1,500t in 2017 and 9,500t in 2018, according to the port’s data. Sales had reached 22,700t in the first three quarters of 2019.

But while the Dutch LNG market is the biggest is Europe, LNG still only makes up a fraction of the total bunker fuel demand at Rotterdam. In the first three quarters of last year, 5.4mn m³ of fuel oil and 1mn m³ of marine gasoil was sold at the port.

A total of 385 LNG-powered vessels are in operation and on order globally, with another 143 vessels LNG-ready, according to DNV GL. LNG’s “long-expected tipping point seems to have been reached, but lack of infrastructure and a challenging business case” still limit its uptake as a bunker fuel, DNV GL said.

Orders for battery-powered ships were even higher than for LNG-powered ones last year. Most of these battery vessel projects were hybrid or plug-in hybrid.

A total of 390 battery-powered vessels are in operation or on order globally. While LNG can power bigger vessel types covering a large area — such as container ships, bulk carriers and oil tankers — battery-powered vessels tend to be smaller and mainly operate in northern Europe.

Other alternative bunker fuels are less widespread. There are currently 16 vessels in operation or on order running on methanol, 14 on LPG and three on hydrogen, according to DNV GL.

With the International Maritime Organisation’s (IMO) deadline for switching to bunker fuels with lower sulphur emissions just passed, the shipping industry is increasingly looking ahead to the IMO’s next emissions reduction targets.

The IMO’s strategy to cut shipping’s greenhouse gas emissions in half by 2050 includes a 40pc reduction in CO2 emissions by 2030 and a 70pc cut by 2050 compared with 2008 levels.

To achieve these reductions, vessels will need to burn less conventional bunker fuels and take up alternatives such as LNG, batteries, methanol, LPG, hydrogen fuel cells and ammonia.

Source: Argus Media
Published: 13 February, 2020

Legal

Singapore withdraws remaining 127 charges against Hin Leong founder OK Lim

Lim Oon Kuin, also known as OK Lim, was issued a stern warning and a district court granted him a discharge amounting to an acquittal for these charges on 17 July.

Published

12 hours ago

July 21, 2026

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Founder of collapsed oil trader Hin Leong Trading, Lim Oon Kuin, also known as OK Lim, has had the remaining 127 charges against him withdrawn, according to The Straits Times on Monday (20 July).

OK Lim was issued a stern warning and a district court granted him a discharge amounting to an acquittal for these charges, including those for cheating, on 17 July. The discharge means Lim cannot be prosecuted again for the same offences.

Lim, 84, is currently serving a 13½-year prison sentence after the High Court reduced his original 17½-year jail term in March 2026. He was convicted in 2024 on two cheating charges and one count of abetting forgery in a case prosecutors described as one of Singapore’s most serious trade finance frauds.

Lim was convicted in May 2024 of two charges of cheating the Hongkong and Shanghai Banking Corporation (HSBC) and one count of abetting forgery that proceeded to trial out of a total of 130 criminal charges.

He was first charged in court on 14 August 2020, and was subsequently handed further charges in court on 25 September 2020, 30 April 2021 and 24 June 2021 for his role in perpetuating fraud on various financial institutions.

A total of 130 charges were eventually brought against him for cheating and forgery-related offences.

Photo credit: Sora Shimazaki
Published: 21 July, 2026

Winding up

Singapore: Coastal Logistics Pte Ltd to be wound up voluntarily

Coastal Logistics was reportedly affiliated with troubled Singapore bunker player Coastal Oil (Singapore) Pte Ltd.

Published

12 hours ago

July 21, 2026

Admin

Several resolutions for Coastal Logistics Pte Ltd were made during an extraordinary general meeting held on 14 July, according to a notice in the Government Gazette on Friday (4 July).

The following resolutions were duly passed during the meeting:

As Special Resolution

That it has been proved to the satisfaction of the meeting that the Company cannot by reason of its liabilities continue its business and accordingly the Company be wound up voluntarily pursuant to Section 160(1)(b) of the Insolvency, Restructuring and Dissolution Act 2018 (No. 40 of 2018);

As Ordinary Resolutions

that Mr. Wong Pheng Cheong Martin and Ms. Koay May Yee, both care of FTI Consulting (Singapore) Pte Ltd, One Raffles Quay, #27-10 South Tower, Singapore 048583 be appointed as the joint and several Liquidators of the Company for the purpose of such winding up; and
that the Liquidators be at liberty to open, maintain and operate any bank account(s) or account(s) for monies received by them as Liquidators with such bank(s) as they deem fit; and
that a Committee of Inspection will not be formed.

Manifold Times previously reported Nicholas James Gronow, director of Heng Tong Fuels & Shipping and Coastal Logistics, filed statutory declarations for both companies stating the firms cannot continue their businesses due to liabilities.

Both companies were reportedly affiliated with troubled Singapore bunker player Coastal Oil (Singapore) Pte Ltd.

In 2019, several vessels owned by both firms entered the sale & purchase (S&P) market in Singapore.

Photo credit: Drew Beamer
Published: 21 July, 2026

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.

Published

12 hours ago

July 21, 2026

Admin

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