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Fratelli Cosulich: Timothy Cosulich named as IBIA Chairman, starts role effective April

IBIA has always been a special organisation for Fratelli Cosulich, and the firm intends to continue dedicating effort and resources to help IBIA achieve its goals.

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Timothy Cosulich

Genoa-based international shipping, shipments and logistics company Fratelli Cosulich Group on Wednesday (23 February) announced CEO Timothy Cosulich was elected as Chairman of the International Bunker Industry Association (IBIA).

Cosulich, who is currently the vice-chair, will take over as the chair of IBIA, starting April 1, 2022.

After the election, he said family to be amongst key thoughts as he prepares to take over the role in April.

“My uncle Antonio Cosulich, who many in the industry have met, was the second Chairman in IBIA’s history a long time ago and I am honoured and proud to follow in his footsteps in doing my best to contribute to IBIA’s growth and success,” he shared.

“IBIA has always been a special organisation for Fratelli Cosulich, and we will continue to dedicate effort and resources to support IBIA achieve its goals.”

Cosulich also said IBIA, a member-led organisation, has incredible knowledge and expertise amongst members.

“IBIA needs members to take the initiative and drive its action towards a more regulated and business-friendly industry, towards a faster and more efficient decabornisation process, and towards transparency and integrity becoming key aspects of the way we work,” he said.

Cosulich added IBIA will play an increasingly important role in the energy transition and in the marine fuel business and I am excited to work alongside the Secretariat, the Board of Directors, and members at large, to achieve ambitious goals.

The IBIA Board composition will be as follows:

Chairman: Timothy Cosulich, Fratelli Consulich, Italy/Singapore
Vice-Chairman: Constantinos Capetanakis of Starbulk, Greece
Hon Treasurer: Adrian Tolson, Blue Insight, USA

Peter Beekhuis, Maersk Oil Trading, Singapore
Eugenia Benavides, Terpel, Colombia
Rahul Choudhuri of VPS, Singapore
Paul Maclons of AMSOL, South Africa
Mustafa Muhtaroglu, Energy Petrol, Turkey
Jesper Rosenkrans, Total Marine Fuels Pte Ltd, Singapore
Valeria Sessa, Reseaworld, Italy
Stephen Simms, Simms Showers LLP, USA
Anna Stefanou, PMG Holding, UK
Nicolas Vukelja, Terramar, Panama

 

Photo credit: Fratelli Cosulich Group
Published: 24 February, 2022

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Environment

Indonesia to expedite removal of sunken Malaysia-flagged tanker “Silver Sincere”

Vessel sank while carrying about 1,000 mt of waste oil on 12 January 2025; the wreck was discovered in March 2025 and was found to have drifted about 13 nautical miles from its original sinking site.

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Indonesia to expedite removal of sunken Malaysia-flagged tanker “Silver Sincere”

Indonesia’s Coordinating Ministry for Political and Security Affairs on Tuesday (14 July) held a cross-agency coordination meeting to expedite efforts in handling the Malaysian-flagged tanker Silver Sincere that sank off Bintan Regency, Riau Islands.

The vessel sank while carrying about 1,000 metric tonnes (mt) of waste oil on 12 January 2025. 

According to authorities, the ship sank within Indonesian waters. After several surveys, the wreck was finally discovered in March 2025 and it was found to have shifted approximately 13 nautical miles from the initial sinking location.

The meeting was aimed to align cross-ministerial and institutional measures to expedite the handling of the Silver Sincere wreck while minimising risks to shipping safety, the marine environment, and national interests.

Deputy for Coordination of State Defense and National Unity Purwito Hadi Wardhono emphasised that the handling of the impact of the Silver Sincere sinking was the first case to be comprehensively coordinated, serving as a model for handling foreign vessels sinking within Indonesian jurisdiction.

Through this cross-sectoral coordination, the government will establish a clear and measurable framework that can serve as a reference for resolving similar cases in the future, while minimising state losses due to environmental pollution, damage to underwater ecosystems and infrastructure, and disruption to shipping lanes.

“The most important thing is to immediately stop and prevent the negative impacts of this ship sinking,” Purwito said.

“Therefore, a coordinating role is crucial, as maritime security governance involves various ministries and institutions with varying authorities, allowing for faster, more integrated, and more effective response,” he said. 

He added that the Silver Sincere was a Malaysian-flagged vessel that sank within Indonesian jurisdiction, and therefore, all handling processes must comply with the provisions of Indonesian laws and regulations.

In the meeting, Prof. Eko Ganis Sukoharsono, representing the SAE Energy Consulting Team, presented the results of an analysis based on 14 observation periods using Sentinel-1 Synthetic Aperture Radar (SAR) satellite imagery. 

The analysis results showed strong indications of a waste oil spill that has resulted in marine pollution, damage to the seabed due to shifting shipwrecks, disruption of coastal ecosystems and fishing grounds, and potentially threatening the livelihoods of fishing communities around the Riau Islands. 

Purwito added these findings further emphasise the importance of accelerating the removal of the shipwrecks to prevent widespread environmental impacts, maintain shipping safety, and avoid the potential for greater state losses.

The meeting brought together representatives of related ministries and institutions including the Ministry of Foreign Affairs, Ministry of Defense, Ministry of Transportation, Ministry of Maritime Affairs and Fisheries, Ministry of Environment, Attorney General’s Office.  

Related: MPA: Malaysia-registered tanker “Silver Sincere” sinks off Pedra Branca

 

Photo credit: MarineTraffic / Julian T
Published: 20 July, 2026

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LNG Bunkering

Singapore: FueLNG achieves 800th LNG bunkering operation milestone

Bunker tanker “FUELNG Venosa” delivered LNG marine fuel to bulk carrier “MV Ubuntu Humanity” at Eastern Bunkering A Anchorage (AEBA) on 11 July.

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Singapore: FueLNG completes 800th LNG bunkering operation

Singapore’s licensed LNG bunker supplier FueLNG on Friday (17 July) announced the successful completion of its 800th LNG bunkering operation in the republic.

The company said bunker tanker FUELNG Venosa delivered LNG marine fuel to bulk carrier MV Ubuntu Humanity at Eastern Bunkering A Anchorage (AEBA) on 11 July. 

“This achievement is more than just a number,” FueLNG said.

“It reflects the trust our customers place in us, the dedication of our operations team, the professionalism of our marine partners, and our unwavering commitment to safe, efficient, and reliable bunker deliveries.” 

Manifold Times previously reported FueLNG completing its 500th LNG ship-to-ship (STS) bunkering operation.

Related: Singapore: FueLNG achieves milestone of 500th STS LNG bunkering operation

 

Photo credit: FueLNG
Published: 20 July, 2026

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Methanol

Western Baltic Engineering unveils green methanol bunkering vessel design for Klaipėda

Designed for flexible operations in shallow waters and local bunkering routes, the concept features an 800-metric-tonne green methanol capacity and the potential to supply up to 250,000 mt annually.

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Western Baltic Engineering unveils green methanol bunkering vessel design for Klaipėda

Ship design and engineering service provider Western Baltic Engineering on Thursday (16 July) showcased its latest concept design for a green methanol bunkering vessel, developed for the operational needs of the Port of Klaipėda.

Designed for flexible operations in shallow waters and local bunkering routes, the concept features an 800-metric-tonne green methanol capacity and the potential to supply up to 250,000 metric tonnes (mt) annually. 

“It is Western Baltic Engineering’s first concept dedicated exclusively to green methanol bunkering, expanding our portfolio of alternative-fuel vessel solutions,” the company said in a social media post.

“Building on our experience in methanol-ready vessel design, it reflects our continued focus on enabling the industry’s transition to cleaner fuels.”

“As the maritime sector evolves, engineering companies have a responsibility not only to respond to market needs but also to anticipate future challenges,” said Marius Arkusauskas, Director at Western Baltic Engineering.

“By exploring emerging technologies and alternative fuel applications, we help our partners prepare for the next generation of maritime operations while contributing to a more sustainable future.”

 

Photo credit: Western Baltic Engineering
Published: 20 July, 2026

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