IBIA Annual Convention 2025: Singapore ‘more than ready’ to support bunkering’s future

Interview

Published Fri, 14th November 2025
by Admin

‘While Singapore is ready, the alternative fuels future resets the bunkering landscape, and we must continue to innovate to maintain our position,’ states the CEO of Hong Lam Marine.

The International Bunkering Industry Association (IBIA) will be hosting its flagship Annual Convention in Hong Kong at the Hong Kong Convention Exhibition & Convention Centre between 18 to 20 November 2025, as part of Hong Kong Maritime Week.

Caroline Yang, CEO of Hong Lam Marine Pte Ltd, Past Chair of the Singapore Shipping Association (SSA); Former Vice Chair of the International Chamber of Shipping (ICS), discusses the overall state of Singapore’s bunkering sector and its future evolution with bunkering publication Manifold Times.

MT: How is bunker tanker owner and operator Hong Lam Marine helping Singapore navigate the transition towards alternative marine fuels?

Hong Lam Marine, an industry staple for over 40 years, has always aimed to keep pace or even lead the Singapore bunkering sector. We were amongst the first to build and in June 2005 introduced the 9,330 dwt Leadership which was then Singapore’s largest bunker tanker. Today, we operate the 9,338 dwt Oracle which is the largest in Singapore (as per MPA data on 8 September 2025).

Though we are concerned about alternative marine fuels due to high building costs and uncertainty about the dominant fuel, we are still planning newbuildings including IMO Type II bunker tankers to deliver alternative fuels to keep pace with the market.

Even so, it remains uncertain what alternative fuels will dominate the bunkering market, as most shipowners are building dual-fuel vessels enabling them to switch to conventional bunker fuels if prices are too high or when supply is limited.

MT: Can you describe the challenges Hong Lam Marine faced during IMO 2020 and how lessons learned have prepared it for upcoming IMO 2030?

The IMO 2020 Global Sulphur Cap provided a clear regulation with a definite compliance date, creating a level playing field.

However, we lack such clarity with alternative fuels; the failure of the MEPC extraordinary session in October 2025 on the net-zero framework was a setbac k. We hope for consensus next year to approve the net-zero framework and the mechanics agreed by 2028-2029, which would provide investment clarity for the bunkering industry.

To date, we have observed shipowners building dual-fuel vessels predominantly powered by methanol, some ammonia, and liquefied natural gas (LNG). Until global regulations are in place, biofuels and LNG will likely be the main transition fuels, as a lack of a level playing field impedes investment.

MT: What are your thoughts on mass flowmeters (MFM), electronic bunker delivery notes (e-BDN), and digitalisation for Singapore’s bunkering sector, and how does those set an example for marine refuelling in the rest of the world?

The best thing that ever happened to the Singapore bunkering industry is the MFM. It’s not only the MFM itself but also the whole piping system to ensure the quantity of fuel delivered is correct.

That really brought integrity to the Singapore bunkering and gave us a reputation, and it is through this reputation that allowed the local bunkering sector to thrive amongst global competition. The enforcement and compliance checks by the Maritime and Port Authority of Singapore (MPA) for the MFM system are also crucial to its success.

A noteworthy fact is that Hong Lam Marine test-bedded MFM with ExxonMobil and MPA from 2010 to 2016, resulting in the company operating the certified for MFM custody transfer in Singapore when MFM bunkering for fuel oil became mandatory in 2017.

The adoption of e-BDNs for Singapore’s bunkering sector was successful because the MPA listened to industry feedback. We are currently in Phase One of e-BDN, with the next phase hopefully being full digitalisation to integrate banks, suppliers, buyers, sellers, operators, and MPA, ensuring transparency and integrity when you bunker in Singapore.

MT: Based on your experience as SSA’s president from 2019 to 2025, how prepared is Singapore’s bunkering industry to tackle IMO 2030 and beyond?

Singapore is more than ready. With the involvement of Hong Lam Marine, we were the first to conduct ship-to-ship methanol bunkering and thereafter, MPA has since implemented simultaneous operations for cargo discharge and methanol bunker supply.

The Singapore bunkering sector is supported by three LNG bunker vessels, is also actively delivering bio bunker fuels, and backed by storage terminals ready for methanol and ammonia.

The MPA is proactive, and the SSA president has a seat on the MPA board, ensuring Singapore stays relevant and invests in future trends. The Singapore Maritime Academy (SMA) has trained many crew for methanol and is training for ammonia.

While Singapore is ready, the alternative fuels future resets the bunkering landscape, and we must continue to innovate to maintain our position as the world’s top bunkering port.

Note: Caroline Yang is amongst guest speakers featured in ‘Session one: Leadership Discussion – Driving Maritime Transformation’ where she provides thoughts on how innovation, collaboration, and strategy are shaping the maritime energy’s transformation.

Join the Conversation

With over 300 delegates expected, the IBIA Annual Convention 2025 is set to be a defining moment for the marine fuels industry. Registration is now open via the IBIA Annual Convention website.

Convention Overview & registration

Photo credit: Hong Lam Marine
Published: 14 November 2025

IBIA Annual Convention 2025: Singapore ‘more than ready’ to support bunkering’s future

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