Digital bunkering platform Ofiniti successfully spun out from DNV
DNV remains the largest shareholder of Ofiniti, with new investment led by a Nordic family fund and Singapore-based maritime venture capital firm ShipsFocus.
Ofiniti, formally known as FuelBoss, a platform for managing marine fuel bunkering operations, has attracted investment from private and venture capital investors as part of its successful spin out from DNV.
With port authorities stepping up their requirements for “digital bunkering”, the new corporate structure will allow it to operate with more agility.
DNV remains the largest shareholder of Ofiniti, with new investment led by a Nordic family fund and Singapore-based maritime venture capital firm ShipsFocus.
“DNV has developed a pathway to progress digital business ideas into new enterprises and incentivise corporate founders. The fact Ofiniti has attracted such interest from investors is an endorsement of the great service it provides and a vindication of our Venture strategy,” said Kjetil Ebbesberg, DNV Chief Financial Officer.
“ShipsFocus is very pleased to be part of DNV’s startup spinoff in Ofiniti as the choice VC investor. Ofiniti’s flagship FuelBoss bunkering platform has the DNV innate quality and accreditation with its dominance in the LNG market share. We believe the founders will bring it to great heights,” said Chye Poh Chua, Founder of ShipsFocus.
With over 3,000 liquefied natural gas (LNG) deliveries completed since 2021, Ofiniti is a market leader in digitising LNG bunker deliveries and have recently expanded to support digital delivery of all marine fuels on its platform.
By digitising bunker operations and providing electronic Bunker Delivery Notes (eBDNs) Ofiniti’s customers are able to increase the utilisation of their bunker vessels, provide live delivery insights to customers and significantly reduce the time to invoice.
This transformation results in safer, more efficient operations, cutting back-office work and reducing cost of credit.
Digitalisation is becoming increasingly important to the bunkering process as demonstrated by the Maritime Port Authority of Singapore’s plan to make “Digital Bunkering” mandatory from next year.
“Digitalisation of the bunkering industry is set to accelerate rapidly. By spinning out of DNV Ofiniti will be positioned to deliver an independent operational platform and a trusted, experienced partner to support both digital transformation and decarbonisation efforts at the pace that is required,” said Martin Wold, Founder of Ofiniti.
Three DNV employees leave their jobs in DNV to join Ofiniti as full-time founders in addition to new hires in commercial and product development.
EC clears EUR 103 mil Dutch funding for renewable methanol and hydrogen-powered ships
Scheme will support purchase of vessels powered by renewable methanol or renewable hydrogen and retrofitting of existing vessels to enable them to use renewable methanol and renewable hydrogen.
The European Commission recently said it has approved a EUR 103 million (USD 119 million) State aid scheme by the Netherlands to accelerate the greening of the Dutch maritime fleet.
The scheme will support the purchase of new clean and zero-emission vessels powered by renewable methanol or renewable hydrogen and the retrofitting of existing vessels to enable them to use renewable methanol and renewable hydrogen.
It covers different types of vessels, including passenger, cargo and work vessels, mainly operating in the short-sea shipping segment. The support will take the form of direct grants awarded under an open, transparent and non-discriminatory selection process.
The scheme aims to help companies overcome high upfront investment costs and limited market incentives that currently slow the uptake of clean shipping technologies. The aid will be granted between 2027 and 2031 and will help bridge the investment gap in line with the objectives of EU legislation such as the FuelEU Maritime and the EU Emission Trading System.
The Commission assessed the measure under EU State aid rules, in particular Article 107(3)(c) of the Treaty on the Functioning of the EU and the 2022 Climate, Environmental Protection and Energy Aid Guidelines (CEEAG).
“The Commission concluded that the scheme is necessary and appropriate as the supported investments would not take place without public support at the same scale and within the same timeframe. The measure is also proportionate as it has limited effects on competition and trade in the internal market,” it said.
Q&A: DNV’s Piyush Raj on building AI capabilities for maritime professionals
In an interview, DNV Maritime Advisory’s Dr. Piyush Raj shares his perspectives on the industry’s evolving AI landscape and the skills maritime professionals will need in the years ahead.
As interest in artificial intelligence (AI) continues to grow across the maritime industry, many organizations are exploring how the technology can be applied in practice. At the same time, questions remain around data quality, workforce readiness, trust and the practical challenges of scaling AI beyond pilot projects.
In this Q&A, Dr. Piyush Raj, Head of Maritime Technology & Innovation, DNV Maritime Advisory, and trainer at DNV Maritime Academy (Singapore), shares his perspectives on the industry’s evolving AI landscape and the skills maritime professionals will need in the years ahead:
MT: AI has become an increasingly common topic across the maritime industry. Based on your interactions with maritime organizations, what are some of the key challenges they face when exploring or applying AI?
From my experience, the challenge when maritime organizations look to implement AI tools is building the foundation for it to produce useful results, rather than the implementation or use of the technology itself. Many organizations have large amounts of data, but struggle with data quality and standardization. On top of that, there are governance, cyber security, and control and assurance issues, both of the data and of the tools and systems themselves. Even when we have something that looks promising, there can be scaling challenges. Moving beyond a proof-of-concept or pilot project to a broader operational or fleet level requires a whole new approach in terms of organizational buy in, process integration, and trust within and beyond the organization itself.
This is because maritime is a safety critical industry and safety is the backbone of how shipping has created the modern global economy. If we lose confidence in the safety of our industry, we’ve lost everything. So, we need to be sure that as AI adoption increases, we have a firm basis for demonstrating that these systems are just as reliable, secure, transparent, and aligned with regulatory expectations as the systems we have today. Equivalent safety levels are a very familiar concept to us in the maritime industry – we have technologies that have been rolled out on that basis and enjoy great trust today. But building that trust is just as important as developing the technology itself.
MT: Singapore has established itself as a hub for maritime innovation and digitalization. How are these developments shaping the skills and capabilities maritime professionals need today?
Singapore has built a reputation for leadership in maritime innovation, especially as relates to digitalization, largely due to the efforts of the Maritime and Port Authority of Singapore (MPA) and cooperation with both industry and academia. At DNV for example, Singapore is home to our Maritime Decarbonization and Smart Shipping Centre of Excellence where we focus on working with partners to build in these areas, alongside enhancing sustainability and talent development. All these combined have resulted in a lot of expertise developing, as well as the associated rollout and adoption of technologies like predictive maintenance, vessel performance monitoring, decision support systems, smart port operations, the wider use of digital twins, and data-driven optimization, throughout the maritime value chain.
One thing these technologies tend to have in common is that they are data driven, and this has increased expectations that maritime professionals and crew in Singapore should be able to work with data-driven tools as part of their day-to-day responsibilities. Today, the rise of AI adds a new level of expectation, that professionals will need an understanding of AI, process and system automation, and the cybersecurity implications of these tools, and on top of that the ability to critically evaluate digital outputs, so that they can be applied in operational decision-making.
As a result, there is growing interest in training programmes that help maritime professionals build up these skills, and especially their understanding of AI and its practical applications.
MT: What can maritime professionals expect to gain from DNV Maritime Academy’s AI courses?
Our AI courses are designed to help maritime professionals understand where AI can deliver real value in maritime operations today, and where the potential is over the long term. Developed specifically for the industry, the trainings combine AI fundamentals with practical, maritime-specific, use cases that cover everything from operations, maintenance, safety, through to fleet management and decision support.
Beyond the technology itself, participants will gain insights into regulations and governance, cybersecurity, assurance and human factors – all of which are critical considerations in a safety-critical industry like shipping. We also like to think that a key differentiator of our courses is our focus on responsible AI adoption, and this is an area where we as DNV have a particular emphasis on developing recommended practices and guidance on AI-enabled systems and AI assurance.
Most importantly, we hope participants will leave with a practical framework to evaluate AI opportunities, identify high-value use cases, avoid common pitfalls, and be able to make more informed decisions about AI adoption and the ongoing digital transformation of shipping.
Shipergy inks energy-adjusted bunker procurement deal with European operator
Technology-led marine fuels trading company announced that it has signed what it believes to be the marine fuel industry’s first energy-adjusted procurement contract.
Shipergy, the technology-led marine fuels trading company, on Thursday (30 July) announced that it has signed what it believes to be the marine fuel industry’s first energy-adjusted procurement contract.
Under the multi-year agreement, signed with a European operator, Shipergy procures and supplies marine fuels across the client’s fleet, with its performance formally benchmarked on the cost per unit of energy delivered, measured in dollars per gigajoule ($/GJ), rather than the industry’s traditional cost per tonne.
Shipergy said marine fuel has been bought and sold by the tonne since the industry began, but not all tonnes are equal. The energy content of fuel varies materially between suppliers in the same port, by as much as 5 to 7 per cent for VLSFO, meaning a cargo that looks cheaper on the headline market index can in fact cost more per unit of usable energy. Vessels bunkering lower energy fuel burn more of it to complete the same voyage, with direct consequences for cost, carbon emissions and regulatory compliance.
The new contract addresses this directly. For each covered port, a reference energy value is established from Energy Beacon data and agreed between the parties. Each quarter, Shipergy’s achieved cost of energy delivered, calculated from actual invoice values and laboratory-measured Net Calorific Value on every delivery, is compared against the energy-adjusted market benchmark. Where Shipergy delivers a demonstrated saving, the benefit is shared between the parties under a gain-share mechanism, fully aligning the interests of buyer and supplier for the first time in bunker procurement.
Supplier selection under the contract is driven by Energy Beacon, Shipergy’s proprietary analytics platform that predicts the energy content of marine fuel by supplier and port before purchase, and ranks firm offers on effective cost per megajoule rather than headline price per tonne.
The platform has been independently validated by an external data scientist across more than 10,000 real production predictions spanning over 1,300 ports, demonstrating a 95 per cent confidence interval of just ±0.024 MJ/kg, equivalent to less than $0.30 per tonne of pricing uncertainty. Every prediction carries a confidence score, and the model is retrained monthly to stay calibrated as bio-blend prevalence and market conditions evolve.
The first stem under the contract, a marine gasoil delivery at a major North West European bunkering hub, was completed in July 2026. The delivery was covered by an independent survey verifying both quantity and quality, including laboratory testing of Net Calorific Value, allowing Energy Beacon’s predicted energy content to be validated directly against measured results. Supplier selection for the stem ran through the full Energy Beacon process: quality screening, energy content prediction by supplier, and ranking of firm offers on effective $/GJ.
Energy-based procurement aligns with where maritime regulation is already heading. FuelEU Maritime accounts for greenhouse gas intensity in energy terms (gCO2eq/MJ), the IMO’s Carbon Intensity Indicator rewards lower consumption, and the EU Emissions Trading System penalises excess carbon. Buying fuel on energy content rather than weight moves procurement onto the same basis as the compliance frameworks shipowners must now answer to.
Daniel Rose, Chief Executive Officer of Shipergy, said: “The market prices fuel in dollars per tonne, but ships do not run on tonnes, they run on energy. Two cargoes at the same price can differ by five per cent or more in the energy they actually deliver, and until now no procurement contract has recognised that.
“This agreement changes the basis on which marine fuel is bought. We are measured, and rewarded, on the true cost of energy delivered to the ship. We believe every fleet will buy this way within a decade.”