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Bunker Holding Group secures record-breaking credit facility of USD 1.11 billion

Higher credit facility allows for Bunker Holding Group to extend clients’ much needed credit lines as liquidity in bunkering is pivotal, especially with transition to alternative fuels.




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Bunker Holding Group, the world’s largest bunkering company, on Thursday (27 April) said it landed an unsecured committed bank credit facility of USD 1.11 billion based on an international bank syndicate.

In addition, the Group’s overall funding framework has been raised from USD 2.4 billion  to USD 3.2 billion, an increase by 33% compared to the previous framework. The higher credit facility allows for Bunker Holding Group to extend clients’ much needed credit lines as liquidity in bunkering is pivotal, especially as the transition to alternative fuels continue to drive up prices.

This new credit facility is backed by 15 banks from Europe, Middle East, and Asia, adding an increased global aspect to the banking partners that comprise the Bunker Holding Group’s new credit syndicate. This underlines the trust shown in Bunker Holding Group across international markets.

“Bunker Holding Group has for the past more than 40 years shown strong positive financial results, and we are honoured by the support and trust that our 15 banking partners worldwide have shown us. This has resulted in a record-setting credit facility and shows a strong commitment towards our strategy for our future growth,” says Keld R. Demant, CEO of Bunker Holding Group.

Leading up to IMO2020, Bunker Holding Group was able to secure its largest credit facility in 2019, backed by 12 banks. Building on the previous bank syndicate, strategic banks from both Asia and Middle East have now joined, enabling local banking business to be conducted where the trading takes place.

“Having now entered into agreements with new banks in our busiest regions is a major step forward, as it allows us to stay even closer to where our clients operate. Adding banks and raising our credit capacity sends a strong signal, and I look forward to working with both previous and new partners,” says Christian Mens, Group Treasury Director at Bunker Holding Group.

While securing Bunker Holding Group’s largest credit facility yet for the next five-years, linking it to sustainability has been another milestone event. As Bunker Holding Group has been focusing on the sustainability agenda, publishing its first ever ESG-report in 2022, by adding KPIs towards environment, social, and governance in the credit facility is a testament to the joint commitment of moving the needle on these important issues.

“We received very positive feedback from banking partners after publishing our first ever ESG-report in 2022. It’s evident that this agenda is very important and that it will continue to be so in the future, and at Bunker Holding Group, we are leaning heavily into this. Staying ahead of the curve in this matter is not just good business, it is also vital to our future as an industry,” says Michael Krabbe, Chief Financial Officer at Bunker Holding Group.

The bank syndicate had closed on the new running five-year facility as of April 2023.


Photo credit: Bunker Holding Group
Published: 3 May, 2023

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Singapore: EPS orders ammonia, LNG dual-fuel vessels from China

EPS signed one contract for a series of ammonia dual-fuel bulk carriers with CSSC Beihai Shipbuilding and another for a series of LNG dual-fuel oil tankers with CSSC Guangzhou Shipbuilding International.






Singapore-based Eastern Pacific Shipping (EPS) on Wednesday (28 February) said it signed two new contract orders in a signing ceremony in Shanghai, one for a series of ammonia dual-fuel bulk carriers with CSSC Beihai Shipbuilding and another for a series of LNG dual-fuel oil tankers with CSSC Guangzhou Shipbuilding International. 

The contracts signed cover four 210,000 dwt ammonia dual-fuel bulk carriers and two 111,000 dwt LNG dual-fuel LR2 oil tankers, expanding our fleet of green vessels on water. 

“These are pivotal for EPS, testament to our continued commitment towards the decarbonisation of shipping,” EPS said in a social media post.

Manifold Times recently reported EPS signing a contract for its first ever wind-assisted propulsion system, partnering with bound4blue to install three 22-metre eSAILs® onboard the Pacific Sentinel

The turnkey ‘suction sail’ technology, which drags air across an aerodynamic surface to generate exceptional propulsive efficiency, will be fitted later this year, helping the 183-metre, 50,000 DWT oil and chemical tanker reduce overall energy consumption by approximately 10%, depending on vessel routing.

Related: Singapore: EPS orders its first wind-assisted propulsion system for tanker


Photo credit: Eastern Pacific Shipping
Published: 1 March 2024

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LNG Bunkering

Malaysia: Port of Tanjung Pelepas completes first LNG bunkering operation

Landmark event involved the CMA CGM Monaco, a 14,024 TEUs containership operated by French shipping giant CMA CGM.






Port of Tanjung Pelepas Sdn Bhd (PTP), a joint venture between MMC Group and APM Terminals, on Wednesday (28 February) announced a significant milestone with the successful completion of its first Liquefied Natural Gas (LNG) bunkering operation. 

The landmark event involved the CMA CGM Monaco, a 14,024 TEUs (Twenty-foot Equivalent Units) capacity containership operated by French shipping giant, CMA CGM.

Tan Sri Che Khalib Mohamad Noh, Chairman of PTP in a statement remarked this latest milestone demonstrates PTP’s commitment to continuously enhance its competitive advantages in an increasingly competitive global market.

“The successful completion of our first LNG bunkering operation also underscores our unwavering commitment to sustainability and environmental leadership. We are proud to partner with Petronas Trading Corporation Sendirian Berhad (PETCO) and CMA CGM on this initiative and showcase PTP’s capabilities as a leading facilitator of clean and efficient maritime operations.”

“This milestone paves the way for further growth in LNG bunkering at PTP, contributing significantly to the decarbonisation of the maritime industry.”

Commenting on this achievement, Mark Hardiman, Chief Executive Officer of PTP stated this latest milestone further highlights PTP’s position as the largest transshipment hub terminal in Malaysia.

“In preparation for the LNG bunkering operation, PTP worked closely since March 2022 with PETCO and CMA CGM, as well as with various other related government agencies to organise table-top exercises (TTX) and workshops, before carrying out the deployment exercise.”

“The success of the bunkering operation is a result of the seamless collaboration and preparations involving rigorous safety procedures through in-depth operational and risk assessments, modelling, and validation. We thank PETCO, CMA CGM all other involved parties for their joint efforts in operationalising the bunkering capability and we welcome partners to work with us to accelerate maritime decarbonisation,” said Hardiman.

Port of Tanjung Pelepas (PTP) is Malaysia’s largest transshipment hub with the capacity to handle 13 million TEUs annually. The port delivers reliable, efficient, and advanced services to major shipping lines and box operators, providing shippers in Malaysia and abroad with extensive connectivity to the global market. PTP is currently ranked 15th among the world top container ports.


Photo credit: Port of Tanjung Pelepas
Published: 1 March 2024

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Alternative Fuels

Wallenius Wilhelmsen to order four additional methanol DF PCTCs

Newbuilds will also be ammonia-ready and able to be converted as soon as ammonia becomes available in a safe and secure way.





Wallenius Wilhelmsen PCTC order

Roll-on/roll-off (Ro-Ro) shipping company Wallenius Wilhelmsen on Tuesday (27 February) declared options to build four additional next-generation Shaper Class pure car and truck carrier (PCTC) vessels.

The 9,300 CEU methanol dual fuel vessels can utilise alternative fuel sources, such as methanol, upon delivery. They will also be ammonia-ready and able to be converted as soon as ammonia becomes available in a safe and secure way.

“Together with our customers we are committed to further shaping our industry and accelerating towards net zero. These new vessels are a vital part of that journey,” says Xavier Leroi, EVP & COO Shipping Services.

This latest commitment brings the total number of Shaper Class vessels currently on order with Jinling Shipyard (Jiangsu) to eight. Wallenius Wilhelmsen also retains further options.

The first of the Shaper Class vessels already ordered are expected to be delivered in the second half of 2026. The four additional vessels under the declared options will be delivered between May and November 2027.


Photo credit: Wallenius Wilhelmsen
Published: 1 March 2024

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