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Fratelli Cosulich marine energy unit records EUR 5.6 million profit in 2024

‘Bunker trading results remained in line with the previous year, despite growing pressure on margins and the continued entry of new players into the market,’ says company in its 2024 Annual Report.

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Fratelli Cosulich marine energy unit records EUR 5.6 million profit in 2024

Genoa-based international shipping and logistics company Fratelli Cosulich Group on Thursday (31 July) recorded EUR 59.7 million (USD 69.1 million) in EBITDA in 2024, the second-best result in the group’s history. 

It recorded a net profit of EUR 20.6 million with its marine energy business unit delivering EUR 5.6 million. The unit also achieved EUR 28.1 million in EBITDA.  

“In 2024, the Marine Energy business unit confirmed its ability to maintain solid performance in a highly competitive and rapidly evolving environment,” the company said in its 2024 Annual Report. 

“Bunker trading results remained in line with the previous year, despite growing pressure on margins and the continued entry of new players into the market. Our ability to adapt, supported by our global reach and integrated structure, once again proved crucial.”

The company highlighted its key milestone in 2024 was the operational launch of its EUA trading desk, which during the year managed over 100,000 allowances, supporting customers’ compliance with EU regulations. 

Strategically, Fratelli Cosulich expanded its presence by completing the establishment of Fratelli Cosulich Korea LLC, reinforcing its position in a region of growing relevance.

“Throughout the year, we also secured term contracts with local refineries in Korea and India, while opening new credit lines in the Caribbean and South America to diversify trading activities,” it added. 

On the physical delivery side, the company is prepared to offer ULSFO and biofuels in Genoa by 2025 — an important step aligned with the evolving energy mix of global shipping.

Augusto Cosulich, Chairman of Fratelli Cosulich Group, also highlighted the group’s orders for four methanol-ready barges in Singapore. 

“This is our approach to sustainability: invest now to be ready when the market will demand for it. We want to play our part in leading the change in the shipping industry,” he said. 

The report further elaborated that among the alternative fuels gaining traction, methanol is becoming a realistic option for many shipowners. 

“Its advantages are clear: compatibility with existing infrastructure, relatively easier storage and handling, and growing availability in major global ports. Singapore, where the Group is consolidating its operations, is one of the places where methanol bunkering is most likely to scale in the coming years,” the company said. 

The Group’s report also featured its first complete Sustainability Report. Highlights of it include 64% of its bunker tankers in operation or under construction are already equipped to supply lower-emission fuels such as LNG or methanol.

 

Photo credit: Fratelli Cosulich
Published: 4 August, 2025

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LNG Bunkering

PIL’s LNG dual-fuel boxship “Kota Elok” arrives in Singapore on maiden call

As the first of 13 new 13,000 TEU vessels joining its fleet, Kota Elok is equipped to operate on LNG and low-sulphur fuel oil that helps reduce our greenhouse gas emissions.

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July 21, 2026

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PIL's LNG dual-fuel boxship “Kota Elok” arrives in Singapore on maiden call

Singapore-based Pacific International Lines Pte Ltd on Monday (20 July) said its first 13,000 TEU LNG dual-fuel container vessel, Kota Elok, recently made her maiden call to Singapore on 15 July.

As the first of 13 new 13,000 TEU vessels joining its fleet, Kota Elok is equipped to operate on liquefied natural gas (LNG) and low-sulphur fuel oil that helps reduce our greenhouse gas emissions. 

The vessel also incorporated energy-saving features and digital technologies to reduce fuel consumption and enhance operational performance, as well as a bow windshield to improve aerodynamics, contributing to improved fuel efficiency and lower emissions over the course of long-haul voyages.

“Following Singapore, Kota Elok will continue her voyage on our East Coast Service 1 (ES1) route to South America, calling at ports in Brazil, Uruguay, and Argentina before returning to Asia,” the company said in a social media post. 

Kota Elok also became PIL’s first vessel to receive Lloyd’s Register certification for compliance with the IACS UR E26 and UR E27 cyber security requirements.

Developed by the International Association of Classification Societies (IACS), UR E26 and UR E27 are mandatory cyber resilience requirements for newbuild vessels contracted from 1 July 2024. 

 

Photo credit: Pacific International Lines
Published: 21 July, 2026

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LNG Bunkering

CIMC SOE secures order for 12,000-cbm LNG bunkering vessel from Sinopec Clean Energy

Once operational, the vessel is expected to strengthen Sinopec’s domestic coastal LNG bunkering network and help address gaps in China’s alternative fuel bunkering infrastructure.
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July 21, 2026

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CIMC SOE secures order for 12,000-cbm LNG bunkering vessel from Sinopec Clean Energy

China’s Nantong CIMC Sinopacific Offshore & Engineering Co., Ltd. (CIMC SOE) recently signed a contract with Sinopec (Beijing) Clean Energy Co., Ltd. to build a 12,000-cubic metre (m3) LNG bunkering vessel, according to Chinese maritime media.

The vessel is scheduled for delivery in 2028 and will support Sinopec’s efforts to expand its presence in the marine clean energy sector.

Once operational, the vessel is expected to strengthen Sinopec’s domestic coastal LNG bunkering network and help address gaps in China’s LNG bunkering infrastructure.

With this signing , CIMC Pacific Offshore Engineering’s LNG bunkering vessel orderbook is further strengthened, maintaining its leading position in the global market for small and medium-sized LNG bunkering vessels.

The contract also marked another milestone for CIMC SOE, which has seen a sharp increase in orders and business performance this year amid a surge in domestic LNG vessel demand.

 

Photo credit: Nantong CIMC Sinopacific Offshore & Engineering
Published: 21 July, 2026

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Nuclear

ABS awards AiP to Korean institute for SMR-powered container ship concept design

KRISO says AiP recognises the technical feasibility and safety of its concept design, marking an important milestone toward the development of next-generation nuclear-powered commercial ships.
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July 21, 2026

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ABS awards AiP to Korean institute for SMR-powered container ship concept design

Korea Research Institute of Ships & Ocean Engineering (KRISO) on Thursday (16 July) received Approval in Principle (AiP) from the American Bureau of Shipping (ABS) for its concept design of a 15,000 TEU Small Modular Reactor (SMR)-powered container ship utilising Molten Salt Reactor (MSR) technology.

KRISO said the AiP recognises the technical feasibility and safety of its concept design, marking an important milestone toward the development of next-generation nuclear-powered commercial ships.

“This achievement demonstrates international recognition of KRISO’s technological capabilities in the rapidly evolving field of nuclear-powered shipping, supporting the transition toward low-carbon maritime transport,” it said. 

Building on this milestone, KRISO will continue advancing basic and detailed ship design, paving the way for future demonstration and commercialisation of SMR-powered vessels. 

Through continued R&D and international collaboration, KRISO remains committed to strengthening next-generation maritime technologies and contributing to the safe deployment of nuclear propulsion in the maritime industry.

 

Photo credit: Korea Research Institute of Ships & Ocean Engineering
Published: 21 July, 2026

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