Alternative Fuels

Exclusive: Fratelli Cosulich in discussions with international banks for second LNG bunker tanker order

‘Maybe there is an opportunity to deploy the second LNG bunker tanker in Singapore,” Timothy Cosulich, CEO and Board Member of Fratelli Cosulich, tells Singapore bunkering publication Manifold Times.

Published

4 years ago

May 21, 2021

Admin

Genoa-based international shipping, shipments and logistics company Fratelli Cosulich Group is in discussions with international banks for a second liquefied natural gas (LNG) bunker tanker order, learns Singapore bunkering publication Manifold Times.

Fratelli Cosulich on 10 May officially placed an order for the construction of its first LNG bunkering vessel; a 5,300 dwt newbuilding built at the CIMC SOE shipyard in China capable of transporting over 8,000 m³ of LNG and 500 m³ of MGO for bunkering.

The USD 45 million order from the shipyard comes with an option for another sistership which Fratelli Cosulich is keen to exercise, shares Timothy Cosulich, CEO and Board Member of Fratelli Cosulich.

“This is one of the biggest investments we have ever done. Being an Italian company we had many Italian banks keen on financing this deal [for the first order] and we were positively impressed by the key interest and financial support we received from these banks,” he says.

“Further, we managed to get a subsidy from the European Union for this investment which they consider to be important and strategic from an environmental point of view. We are heartened to know there are government institutions supporting our project.

“Now, the shipyard has offered us an option to order an additional LNG bunker tanker. We are in discussions with international banks to finance this [second] order.”

Fratelli Cosulich’s first LNG bunkering tanker will be deployed in the Mediterranean due to the commercial rationale that the region will be a good market for bunkering passenger vessels – which are increasingly adopting the use of LNG as a marine fuel.

“The order book for newbuildings indicates that 25-30% of vessels on order are now either dual-fuelled or LNG-ready so clearly there is a real interest in LNG. These orders are mostly containerships, large tankers, and cruise/passenger vessels so there is already a market,” he explains.

The location for the company’s second LNG bunkering tanker, however, is still undecided, according to Cosulich.

“We are evaluating different options for the second LNG bunkering tanker. We know there is demand in Northern Europe,” he reveals.

“On the other hand, we know the Maritime and Port Authority of Singapore has been issuing additional bunkering licences for LNG. With the growing number of LNG bunker suppliers, we also expect growing demand; maybe there is an opportunity to deploy the second LNG bunker tanker in Singapore.

“We are an Italian family business, but Singapore is clearly our second home. We have been here for more than 30 years since the 1980’s and we will be happy to increase our presence at the Republic.”

Cosulich says his company was fortunate to have accumulated experience in the handling of LNG since 15 years ago, when the firm took over the technical management of the FSRU Toscana situated off the coast of Tuscany.

As such, Fratelli Cosulich was able to utilise this knowhow into writing their own specifications for the recently ordered LNG bunkering vessel.

While acknowledging that there are short-term and long-term solutions available to help shipping achieve decarbonisation, Cosulich believes LNG is the first step in helping the maritime sector meet its sustainability goals.

“Some companies focus on investing in long-term solutions such as hydrogen, ammonia, methanol, batteries and I don’t think this is wrong, but these solutions are not available in the short-term,” he notes.

“We cannot wait until those solutions are available. We need to start doing something and the only available solution at scale right now, allowing for significant emissions reductions, is LNG.

“We know LNG itself is a transition fuel which might have a 20-year lifespan and if we consider bio LNG that life-span might be even longer. In the meantime, we can significantly reduce emissions in the short term with LNG – that’s why we decided to go for it.”

Moving forward, Cosulich encouraged players to take action in helping shipping achieve its decarbonisation goal.

“In shipping, most of all as an industry spend 5-10 years talking about decarbonisation and the problem is we specifically spend time talking instead of doing,” he states.

“So, I think it is important we as an industry get started doing rather than just talking about it at conferences.”

Photo credit: Fratelli Cosulich
Published: 21 May, 2021

Biofuel

Hercules Tanker Management vessel “Mount Kibo” takes on B30 bio bunker fuel

HTM said its tanker was successfully supplied with B30 bunkers by tanker “Hercules Sky”, another HTM-owned vessel and operated by Peninsula, marking the first biofuel supply to the HTM fleet.

Published

2 hours ago

April 30, 2025

Admin

Hercules Tanker Management vessel “Mount Kibo” takes on B30 bio bunker fuel

Hercules Tanker Management (HTM) on Tuesday (29 April) announced that its tanker Mount Kibo has been successfully supplied with B30 bunkers by tanker Hercules Sky, another HTM-owned vessel which is operated by Peninsula.

The operation marked the first biofuel supply to the HTM fleet.

HTM is the shipping venture launched last September by John A. Bassadone, founder and CEO of independent marine fuel supplier Peninsula.

HTM said the operation carried out in the Strait of Gibraltar aligns with the recent discussions at MEPC 83, where key decisions were made to advance maritime decarbonisation, including new fuel standards and a global pricing mechanism for emissions.

“Additionally, this initiative supports the objectives of the FuelEU Maritime Regulation, which promotes the use of renewable, low-carbon fuels and clean energy technologies for ships,” it said.

“By utilising biofuels, we are contributing to the reduction of greenhouse gas emissions and supporting the industry's transition towards cleaner energy solutions.”

Photo credit: Hercules Tanker Management
Published: 30 April, 2025

Alternative Fuels

DNV: Seven steps to obtain approval for ammonia- and hydrogen-fuelled ships

DNV summarizes how shipowners can apply a practical, structured approach to gaining approval for ammonia- or hydrogen-fuelled ships as both are gradually emerging as suitable bunker fuels.

Published

2 hours ago

April 30, 2025

Admin

Classification society DNV on Monday (28 April) released an article summarizing how shipowners can apply a practical, structured approach to gaining approval for ammonia- or hydrogen-fuelled ships.

From engaging early with flag administrations to addressing design risks, training crews, and managing bunkering safely, DNV described seven essential steps to receive approval:

The paper – Safe introduction of alternative fuels: Focus on ammonia and hydrogen as ship fuels – offers a structured pathway for shipowners to achieve approval through IMO’s alternative design approval (ADA) process.

Seven steps to obtain approval for ammonia- and hydrogen-fuelled ships

“We outline seven steps to assist shipowners and other stakeholders in obtaining approval and safely deploying ammonia- and hydrogen-fuelled ships in today’s immature regulatory environment,” says Linda Hammer, Principal Consultant, Environment Advisory at DNV and lead author of the white paper. “The regulatory path is certainly complex, but the steps and safety measures in the paper add up to a clear, achievable pathway to ship approval and safe operations. It also explains how DNV’s support can significantly ease this process through its tailored rule sets and learnings from pilot projects.”

t1 ind 586 steps to obtain approval (1)

Understanding ADA phases: From initial design to final approval

IMO’s IGF Code (International Code of Safety for Ship Using Gases or Other Low-flashpoint Fuels) currently covers natural gas but not ammonia or hydrogen. Without detailed regulations, IMO’s risk-based ADA process (MSC.1/Circ.1455) is used. It involves demonstrating that the ship’s safety level is equivalent to that of conventional oil-fuelled vessels.

t4 ind 586 milestones in the two phases (1)

ADA has two main phases. A preliminary design approval requires a hazard identification (HAZID) study, developing a preliminary risk assessment, and defining preliminary risk-control measures and safety strategies.

Phase two, final design approval, starts with refining the design with detailed technical and safety documentation, then making a final risk assessment, addressing integration and operation-specific concerns. Then come complete system integration testing and submitting findings to the flag administration.

Role of class and flag administrations in approval process

As the IMO regulatory framework progresses towards eventually amending the IGF Code, classification societies like DNV can give shipowners a head start in designing vessels by issuing class certificates and providing prescriptive rule frameworks to support ADA.

t2 ind 586 the status of the development of imo safety regulations

Flag administrations enforce statutory regulations and have the final say on approvals. Early and active engagement with the relevant flag administration is therefore the key to clarifying approval expectations and streamlining ADA.

Subject to flag administration acceptance, the DNV rules can be applied as the flag administration’s approval basis or to significantly reduce the complexity of ADA.

Simplifying ship approval: DNV’s rules for ammonia and hydrogen fuels

DNV’s classification rules for ammonia and hydrogen (i.e. the “Gas fuelled ammonia” notation published in 2021 and the 2024 “Gas fuelled hydrogen” notation) provide structured, prescriptive requirements as far as possible to simplify ADA. Applying them helps reduce uncertainty in flag administration approval, streamlines design focus by aligning with expected risk assessments, and provides predictability to shipowners, ship designers and shipyards.

The paper describes step-by-step actions for obtaining approval. First, engage DNV and the flag administration early to clarify the approval basis. “DNV can help owners and yards in the initial contact with the flag administration to obtain necessary clarification regarding the approval scope and process,” says Hammer.

Second, align the design with DNV rules to ensure it provides a strong technical basis for risk evaluation. Third, tap into DNV’s extensive and growing experience from prior projects to anticipate what risk studies and documentation may be needed.

The paper also discusses measures to manage the new technical, human and organizational risks that both fuels bring compared to conventional fuels. DNV’s dedicated ship rules for each fuel type outline technical requirements and mitigation systems to integrate during design and operation.

Note: DNV’s full article on ‘Practical guide for approval of ammonia- or hydrogen-fuelled ships’ can be read here.

Photo credit: DNV
Published: 30 April, 2025

Methanol

Ofiniti to roll out e-BDNs for Golden Island methanol bunkering operations in Singapore

Ofiniti will issue electronic Bunker Delivery Notes, based on the recently published Technical Reference 129 on Methanol Bunkering, across Golden Island’s newbuilds and part of its existing fleet.

Published

24 hours ago

April 29, 2025

Admin

Ofiniti to roll out e-BDNs for Golden Island methanol bunkering operations in Singapore

Ofiniti, a provider of digital solutions for maritime bunker operations, on Tuesday (29 April) said Singapore bunker supplier Golden Island Pte Ltd will adopt Ofiniti platforms for its expanding fleet operations.

Ofiniti said the move will lay the foundation for a digital multi-fuel future with Golden Island’s four new chemical tankers on order and Singapore-flagged bunker tanker Golden Antares, which will soon enter service.

As part of the transition, Ofiniti will roll out electronic Bunker Delivery Notes (e-BDNs), based on the recently published Technical Reference (TR) 129 on Methanol Bunkering, across Golden Island’s newbuilds and part of its existing fleet.

The Maritime and Port Authority of Singapore (MPA) and Enterprise Singapore (EnterpriseSG), through the Singapore Standards Council (SSC), on 10 March published TR 129 to provide a comprehensive framework for the safe and efficient use of methanol as an alternative fuel for bunkering operations.

Kenny Yap Song Jin, Low Carbon Solutions, Golden Island, said: “Launching our methanol bunkering operations is a major milestone, not just for Golden Island, but for Singapore’s journey toward multi-fuel readiness.

“By combining innovative low-carbon fuels with digital transparency, we set a new benchmark for safe, efficient, and sustainable marine fuel delivery.”

Ofiniti said it has supported suppliers through every stage of the industry’s transition, from conventional fuels to LNG, biofuels, hydrogen, and now, supporting methanol.

Tue Nielsen, Chief Executive Officer, Ofiniti, said: “I’m proud to welcome Golden Island to Ofiniti’s platforms.

“Their move signals a strong trust in our ability to support next-generation operations, and it reflects a broader shift in the market towards digital solutions built specifically for the realities of maritime fuels today and tomorrow.

“We are customer-obsessed, always trying to build in resilience to the way we are doing business.”

Manifold Times previously reported Golden Island’s plans to start bunkering trials of green methanol with its newbuild Singapore-flagged 7,999 dwt IMO type 2 bunker tanker from July.

Golden Antares was scheduled to depart a Chinese shipyard by late April and will lift green methanol produced by Hong Kong and China Gas Company Limited (Towngas) before returning to Singapore to begin bunkering trials.

In April, Ofiniti welcomed bunkering and marine fuel solutions provider Global Fuel Supply (GFS) to its FuelBoss platform as one of its newest customers.

GFS said it was proud to be the first physical supplier in West Africa to launch fully digitalised bunker operations with electronic bunker delivery note (e-BDN) via the FuelBoss platform.