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Brightoil announces USD 396 million capital injection to Zhoushan storage project

Shenzhen Yan Tian Port Holdings to subscribe 90% of shares in Brightoil Petroleum Group Co. Ltd. (HK Brightoil) through capital injection of USD 396 million.

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Brightoil Petroleum (Holdings) Limited (Brightoil) on Wednesday (9 December) published an announcement regarding capital injection into its Zhoushan storage project. 

Brightoil said it has been negotiating with various potential buyers in respect of the sale of all or part of the its interests in Zhoushan oil storage and terminal facilities, and on 7 January 2020, Brightoil signed a non-binding “Zhoushan Project Cooperation Framework Agreement” with 深圳市鹽田港集團有限公司 (Shenzhen Yan Tian Port Holdings Co.).

After more than one year of negotiations, on Wednesday, 9 December, Brightoil successfully signed the Share Subscription Agreement and all required supporting agreements with Shenzhen Yan Tian Port Holdings, whereby it will subscribe to 90% of the shares in Brightoil Petroleum Group Co. Ltd. (HK Brightoil) through capital injection for the subscription price of RMB2.591 billion (USD 396 million).

Both parties have agreed that the fair market value of HK Brightoil’s equity interest in the Zhoushan project is RMB5.89 billion (after the project is complete), including the construction funds that need to be injected for the completion of the project.

Shenzhen Yan Tian Port Holdings will be responsible for the arrangement of the subsequent construction funds, but the amount will be subjected to the limit of the agreed RMB2.5 billion.

As part of the agreement, any excess of the construction funds according to the final completion accounts will be deducted from the subscription price and the shortfall to be made up to the subscription price.

The subscription includes 100% equity interests in Brightoil Petroleum Storage (Zhoushan) Co Ltd and 55% equity interests in Zhoushan Brightoil Terminal Co Ltd held by HK Brightoil.

Shenzhen Yan Tian Port Holdings will pay the subscription price by installments according to the progress of the project, and both parties will cooperate to complete the project construction in the future.

Brightoil said it believes the transaction is beneficial to the company as it will be able to carry on with the construction of the project without the need to inject a substantial amount of capital. 

Furthermore, the transaction would generate cash income to the company, which is conducive to the smooth completion of the Brightoil’s debt restructuring and further improving the its assets and

business structure, while allowing the company to retain 10% of equity interests in HK Brightoil as a long-term investment.

After the completion of the subscription, Brightoil said its future development will remain focused on its upstream oil and gas field business.

Earlier developments of Brightoil (since late 2017 to date) can be found in the search results here


Photo credit: Brightoil
Published: 10 December, 2020

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Biofuel

BHP and GCMD trial multi-feedstock B100 bio bunker fuel on bulk carrier

Bio-blend in the BHP and GCMD pilot is being used on a BHP-chartered bulk carrier “Berge Lyngor”, which was bunkered in Singapore in early May.

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BHP and GCMD trial multi-feedstock B100 bio bunker fuel on bulk carrier

BHP and the Global Centre for Maritime Decarbonisation (GCMD) on Wednesday (3 June) said they have blended biofuels from two distinct feedstocks—used cooking oil and waste animal fats —and introduced the lower-emissions marine fuel into a BHP-chartered bulk carrier as part of a pilot project.

The bio-blend in the BHP and GCMD pilot is being used on a BHP-chartered bulk carrier Berge Lyngor, owned and operated by Berge Bulk, transporting BHP iron ore from Western Australia to China. When run on bio-blend, the vessel has the potential to reduce well-to-wake greenhouse gas emissions by approximately 79 per cent per voyage compared to sailing on very low sulphur fuel oil (VLSFO).

The vessel bunkered in Singapore in early May with a B100 bio-blend comprising 50 percent tallow-derived biodiesel, sourced and supplied by HAMR Energy, and 50 per cent used cooking oil (UCOME) supplied by Mitsui & Co Energy Trading Singapore (METS).

Mitsui also blended the fuel and Dan-Bunkering coordinated and executed the bunkering operation, which was performed by Global Energy’s barge MT Maple.

The BHP and GCMD pilot will assess how biofuels from multiple feedstocks can be blended, handled, and introduced under real-world operating conditions using existing used cooking oil bunkering infrastructure.

At the same time, insights from this pilot will help identify solutions to challenges related to fuel quality, handling, traceability, and onboard vessel performance.

Biofuels for global shipping today rely heavily on used cooking oil – a feedstock whose availability is approaching its projected limits. Biofuel from waste animal fats presents a promising option to expand the supply of lower-emissions marine fuels.

The outcomes of the pilot are expected to shed light on the practical steps to integrate biofuel blends from different feedstocks into existing supply chains. The diversity of biofuels will provide shipowners and operators with greater flexibility to optimise fuel procurement based on cost, availability, and lifecycle emissions performance.

Biofuels derived from different feedstocks can exhibit varying properties that may impact operations, including potential corrosion from oxidation, fuel system clogging caused by wax formation, which this pilot aims to assess.

The pilot will trace and verify the biofuel blend’s integrity aimed at bolstering confidence in emissions reductions reporting. The pilot will also provide insights into how robust tracing can support future marine fuel supply chains where biofuels from multiple feedstocks with varying lifecycle greenhouse gas emissions footprints are blended together.

This project is co-funded by the Maritime and Port Authority of Singapore under the Maritime Innovation and Technology Fund (MINT).

 

Photo credit: Global Centre for Maritime Decarbonisation
Published: 3 June, 2026

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Biofuel

NYK starts one-year B100 bio bunker fuel trial on car carrier

In this trial, NYK will operate a car carrier continuously on B100 for one year to evaluate the impact on engines, fuel supply systems, and operational practices.

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NYK starts one-year B100 bio bunker fuel trial on car carrier

Japanese shipping firm NYK on Tuesday (2 June) said it has commenced a one-year long-term trial involving the continuous use of 100% biofuel (B100) on an NYK-operated car carrier. 

In this trial, NYK will operate a car carrier continuously on B100 for one year to evaluate the impact on engines, fuel supply systems, and operational practices. High-purity biofuels such as B100 are known to be susceptible to degradation from oxygen, light, and heat, raising concerns about the stability of such fuels during long-term use.

In this trial, the biofuel primarily comprises FAME (Fatty Acid Methyl Ester) derived from used cooking oil and similar feedstocks.

The initiative is designed to evaluate the fuel’s effects on the vessel’s equipment and verify operational safety under real-world conditions. 

Through this effort, NYK seeks to accumulate technical expertise that will support the broader use of high-purity biofuels and further accelerate efforts to reduce greenhouse gas (GHG) emissions.

NYK has been advancing the use of biofuels through various initiatives. In 2024, the company conducted a trial using biofuel blend B24 and subsequently expanded practical usage to B30. However, the company said there remains limited global experience with the long-term continuous use of B100.

“By collecting long-term operational data through this trial, NYK aims to accumulate valuable technical insights to support both the safe operation of vessels and the wider adoption of high-purity biofuels,” it said. 

 

Photo credit: NYK
Published: 3 June, 2026

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Ammonia

AM Green plans to build green ammonia plant at Indian port

Initiative also includes development of green ammonia handling, storage and bunkering infrastructure, pilot bunkering operations, safety procedures and training programmes, says VOC Port Authority.

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VO Chidambaranar (VOC) Port Authority on Friday (29 May) said it has signed a Memorandum of Understanding (MoU) with India’s ammonia producer AM Green Ammonia to collaborate in the development of a green ammonia production plant.

The plant will have a capacity of one million tonnes per annum (MTPA) at Tuticorin.

The initiative also includes development of green ammonia handling, storage and bunkering infrastructure, pilot bunkering operations, safety procedures and training programmes. 

The project is expected to support the development of green fuel corridors connecting VOC Port with major ports in Europe and Asia, thereby strengthening India’s position in the global green fuels value chain.

VOC Port also signed a Memorandum of Understanding (MoU) with Bureau Veritas (India) Pvt. Ltd., to collaborate on Green Port certification, emissions accounting, ESG reporting, safety validation, development of green bunkering practices, and establishment of a Centre of Excellence for green fuels and sustainability.

The port also plans for an upcoming 750 m³ green methanol bunkering facility.

 

Photo credit: Naveed Ahmed on Unsplash
Published: 3 June, 2026

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