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Exclusive: Sea Oil Petroleum introduces new bunker trading team, revised marine fuels business plan

Sea Oil Petroleum is planning to hire a team of Traders to support the new expansion business plan, Steve Goh, Head of Trading, tells Manifold Times.

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Singapore-based bunker trading firm Sea Oil Petroleum Pte Ltd, now a wholly owned subsidiary of Thailand-listed Sea Oil Public Company Limited, is entering 2024 with a new bunker team and business plans, learns Manifold Times.

Established in April 2015, Sea Oil Petroleum also is a physical supplier of bunker fuel and lubricants in Thailand waters, a supplier and distributor of oil and petroleum products, as well as an appointed contractor for catering and housekeeping services onboard accommodation barges stationed at offshore rigs along the Gulf of Thailand.

Sea Oil is part of the Nathalin Group in Thailand. Nathalin provides integrated marine transportation and petroleum storage services to customers and is one of the largest independent operators of petroleum and chemical tankers in Thailand.

“Since October 2023, Sea Oil Petroleum has been 100% owned by Sea Oil PLC thereby making the business flow more stream-lined,” Steve Goh, Head of Trading at Sea Oil Petroleum, told the bunkering publication.

“There is now more clarity in the business direction, and we have 100% support from Sea Oil. We can provide a wide scope of services and values through our group businesses on top of our core bunker business.”

Mr Goh, who has almost 20 years of experience covering all aspects of the marine fuels business, joined Sea Oil Petroleum in January 2024 to lead and expand the firm’s regional bunkering team and business.

He is joined by Aaron Hong who has more than 15 years of bunker experience with background in physical supply and bunker trading. Mr Hong started with Sea Oil Petroleum in December 2023 as Bunker Manager and is tasked to lead the sales team.

“In the past, Sea Oil Petroleum was focused on bunker trade volume in Asia,” said Mr Goh.

“Now, we aim to promote Sea Oil Petroleum internationally, find new business opportunities, while expanding the portfolio of customers.

“We will also continue to build on our strength in the oil and gas segment which traditionally was where Sea Oil started off in Thailand.”

Moving forward, Mr Goh shared Sea Oil Petroleum is building a team of Junior and Senior Traders to support the new expansion business plan which has been endorsed by Sea Oil PLC.

“We need a strong and experienced team to grow internationally, and it starts by building the foundation with a group of competent traders able to serve our clients according to international standards in any ports,” he stated.

“An experienced team is key for this growth.”

Contact details for enquiries are as follows:

Steve Goh
Head of Trading
Mobile: +65 96721076 / +65 92728346
DID: +65 66610890
[email protected]

Aaron Hong
Bunker Manager
Mobile: +65 92728273
DID: +65 66610869
[email protected]

General enquiries
Email: [email protected]

 

Photo credit: Sea Oil Petroleum
Published: 27 June 2024

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Alternative Fuels

Nasdaq interview: CBL International Chairman shares vision for sustainable bunker fuels

In a Nasdaq Issuer Spotlight interview, Mr. Teck Lim Chia shares CBL’s mission to provide one-stop refuelling solutions across over 60 ports globally and discusses the firm’s adoption of sustainable fuels.

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CBL International Limited (CBL), the listing vehicle of Banle Group (Banle) logo

CBL International Limited (CBL), the listing vehicle of Banle Group (Banle), a marine fuel logistic company in the Asia-Pacific region, on Tuesday (21 January) announced that its Chairman and CEO, Mr. Teck Lim Chia, was recently featured in an exclusive interview on Nasdaq's Amplify Spotlight programme, in which he provides a company update and his vision for CBL’s sustainable fuels.

The Nasdaq Issuer Spotlight interview series explores how industry leaders are evolving and navigating challenges in various industries.

In a discussion with host Michael Spector, Mr. Chia delves into CBL's mission to provide comprehensive one-stop refuelling solutions across over 60 ports globally, with a strong commitment to sustainability. 

He highlights the company's significant growth since its founding in 2015, including its public listing on Nasdaq in 2023, and its expansion into new markets such as Europe, Africa, in addition to Asia Pacific. 

Mr. Chia also discusses the company's adoption of sustainable fuels like B24 biofuel, which led to a nearly 96% increase in its biofuel sales in 1H2024, aligning with global decarbonisation efforts.

Mr. Teck Lim Chia, Chairman and CEO of CBL International Limited, said: “It is a great honor to be featured on Nasdaq’s Amplify Issuer Spotlight. This opportunity underscores the remarkable growth and the significant strides CBL has made in the global bunkering industry.”

“As we continue to expand our footprint across new markets, our commitment to sustainability remains at the core of our operations. We are excited about the future of the bunkering industry and our role in driving the transition to more sustainable fuels, contributing to the global decarbonisation efforts.”

“At CBL, we are dedicated to providing safe, reliable, and environmentally responsible refuelling solutions, and this platform further enhances our mission towards a greener future.”

The full interview is now available through the image below:

Screenshot 2025 01 22 at 1.09.19 PM

 

Photo credit: Nasdaq
Published: 22 January, 2025

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Decarbonisation

DNV and Alfa Laval: What can drive the energy transition in shipping?

Rasmus Stute from DNV interviews Sameer Kalra of Alfa Laval on the company’s innovative approach to energy transition, emphasizing fuel-agnostic solutions, and energy efficiency.

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Rasmus Stute from DNV interviews Sameer Kalra, President of the Marine Division and Executive Vice President at Alfa Laval, on key industry trends including the company's innovative approach to the energy transition, emphasizing fuel-agnostic solutions, energy efficiency and close collaboration with third parties to meet future challenges:

We met recently at the SMM trade fair, always a really important date on the shipping calendar. What were your takeaways?

The first thing that stood out to me was that energy efficiency seems to be really high on the agenda, alongside LNG as an alternative fuel. Secondly, digitalization seems to be much more in focus than just a couple of years ago. This is why it is so great to come to these trade shows; you can hear what the industry’s talking about and it really helps to calibrate your own views.

At SMM, we launched our latest Maritime Forecast to 2050, which focuses on the building blocks needed for the energy transition in shipping. From Alfa Laval’s perspective how are you going to respond to the energy transition? Is this a significant challenge or something you’ve already anticipated?

The one thing that Alfa Laval is absolutely known for is being innovative from the beginning and that’s still part of the company’s DNA. So when we started working around decarbonization and the energy transition roughly five or six years ago, we took the position that as Alfa Laval we needed to put our money where our mouth was. And, instead of just telling others to decarbonize, we also set some goals for ourselves for 2030. Right now, we expect to meet our Scope 1 and 2 net zero targets ahead of schedule. (PS: After this interview took place, Alfa Laval announced an updated goal to achieve net zero in its own operations by 2027, covering Scope 1 and 2 emissions.) 

However, challenges remain, particularly supporting customers in areas outside our direct control, such as fuel choice. Shipowners have a tough challenge, finding a vessel design and choosing a fuel that is economically viable, commercially attractive and future-proof for the next 20–25 years. Recognizing this complexity early on, we positioned ourselves to support shipowners with versatile, future-ready solutions. In particular, one major initiative has been to ensure our product portfolio is fuel-agnostic

Additionally, we have prioritized the development of new platforms focused on energy efficiency. Another key step has been the acquisition of StormGeo, which, whilst unconventional for a company like Alfa Laval, aligns with our strategy to address the evolving energy efficiency and sustainability demands of the maritime industry. Ultimately, our commitment is to provide solutions that enable both immediate and long-term decarbonization goals.

You mentioned key elements like energy efficiency and fuel flexibility, and you have set up your company to address these challenges. Looking ahead to 2030, what do you envision will be your most important products to support customers with these trends?

It is challenging to be definitive about specific products, but we can identify trends. Our energy efficiency portfolio will play an increasingly important role, even more so than it does today. Transitioning to clean fuels will also grow in importance. If I were to highlight one area, it would be energy efficiency over the short term. 

Given the challenges in scaling up the supply of green methanol and ammonia by 2030, boosting energy efficiency becomes an essential, immediate necessity for the industry. At Alfa Laval, all three of our divisions – Marine, Energy, and Food and Water – will contribute to these efforts. In the near term, we will focus on enhancing energy efficiency in existing systems whilst introducing new, innovative energy efficiency platforms across our product portfolio to support our customers in navigating this energy transition.

I’ve a follow-up question on the energy transition. How do you feel about the role of carbon capture and storage in this process?

From our perspective, carbon capture and storage (CCS) is set to play an important role, particularly on the energy side. However, the role of onboard carbon capture specifically is less clear. These are two different challenges and we need to approach them with an open mind. For instance, it’s possible that LNG could be a transitional fuel that achieves a 20% reduction in emissions. If onboard carbon capture technology could add another 10–15% reduction on top of that, it might be a viable step forward. 

However, there are still many questions to address. We need to solve challenges related to the footprint of onboard carbon capture systems, as well as their cost-benefit ratios. These are critical factors that must be worked out before onboard carbon capture becomes a widespread solution. That said, I have confidence in the ingenuity of the maritime industry, and I am optimistic that we will find ways to overcome these challenges. 

And whilst there are still questions to answer, I firmly believe that carbon capture and storage, both on land and onboard, could make a significant contribution towards accelerating the energy transition.

Note: The full interview by DNV can be found here.

 

Photo credit: Venti Views on Unsplash
Published: 14 January, 2025

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Interview

Maersk: Bunkering hubs to witness first steps of shipping’s transition to alternative marine fuel

‘You need close partnership with the many, many different players in the supply chain,’ notes Emma Mazhari, Vice President, Head of Energy Markets, A.P. Moller – Maersk.

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Emma Mazhari MT

The marine fuels transition will first take place at global bunkering hubs before spreading to other regional ports, forecasts Emma Mazhari, Vice President, Head of Energy Markets, A.P. Moller – Maersk.

Mazhari, also CEO of Maersk Oil Trading, was responding to an enquiry from Manifold Times about the possibility of bunkering volume for alternative marine fuels being moved closer to production sources [e.g. such as methanol bunkering volume to China], affecting bunker sales at current marine refuelling hubs prior to IMO 2030.

“What we've learned is that after ordering the vessel you need to have line of sight of the fuel coming which means you need to get the infrastructure such as barges, tank, storage, bunker, licenses, permits, etc in place,” she said on the sidelines of a naming ceremony for dual-fuel methanol container vessel A.P. Moller on Thursday (28 November).

“You need close partnership with the many, many different players in the supply chain and this takes time.

“For the early years you want to concentrate liquidity to some hubs globally where you can get everything set up, like in Singapore in Asia, for example where you can have the fuel being transported in and consolidated for sale as bunkers to many different players in the market.

“Then further down the line we have to development other bunkering locations globally. We're not going to have the end game from the start. It takes time for this transition.”

Mazhari, meanwhile, highlighted China to be amongst top producers of green methanol for bunkering due to state policies enhancing their production.

“We've signed some large offtake agreements on green methanol with production in China. China has got great potential; a lot of land, cheap renewable electricity, and large amounts of bio feedstock,” she shared.

“They also see that's the way to become more energy independent. There's a lot of scalability potential.”

Even though Maersk has looked at many projects in other parts of the world, the economics of having a commercially viable production source of alternative bunker fuel are still very much dependant on mass balancing, local government policies and infrastructure supporting specific products.

“Different factors are needed to enable this, you need to have permits, sufficient land, access to the port, or even local government subsidies and regulatory support to scale up production. Basically, these all come together to make for a commercially viable project,” explained Mazhari.

“For biodiesel, it's very much tied to the feedstock availability.

“For biomethane, you must depend on a gas grid because without this it’s going to be very, very expensive to truck the gas around.”

Maersk Oil Trading, an accredited bunker supplier at the Port of Singapore, took position as top biodiesel supplier at the port in 2023 by recording volumes close to 250,000 metric tonnes.

Related: Maersk names latest methanol dual-fuel vessel after founder in Singapore
Related: Maersk secures bio-methanol bunker fuel supply from China’s LONGi

 

Photo credit: A.P. Moller – Maersk
Published: 5 December, 2024

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