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Interview: Hafnia shares IMO 2020 preparations, promotes transparency for bunkering operations

‘We support MFMs for bunker deliveries at Singapore and that goes for other tech as well; Hafnia is onboard any initiatives improving transparency in the bunker supply chain,’ says Bunker Manager.
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The following interview is part of pre-event coverage for the upcoming Singapore International Bunkering Conference and Exhibition (SIBCON) 2020, where Manifold Times is an official media partner:

 

Hafnia is one of the world’s leading oil product tanker owners and operators. The company provides transportation of oil and oil products to leading national and international oil companies, major chemical companies, as well as trading and utility companies. Hafnia operates a fleet of 178 vessels in pools and is a part of BW Group – an international shipping group that has worked in oil and gas transportation, floating gas infrastructure, environmental technologies and deep-water production for over 80 years.

Hafnia Bunker Services, which operates within Hafnia, purchases bunkers for part of the BW Group fleet; the company also acts as brokers for its pool partners and third-party members in order to enjoy synergies associated with economies of scale for its alliance members.

 Manifold Times recently spent time with Kasper Sørensen, Bunker Manager at Hafnia, who shared with the Singapore bunker publication how Hafnia prepared for IMO, as well as his thoughts and actions in the face of other events in the past year.

 MT: What did Hafnia do to prepare for IMO 2020, and how has that preparation paid off to date?

We formed an internal IMO 2020 committee years before the event in order to prepare for the technical side of the transition. This committee was responsible for considering whether to adopt a scrubber based approach for compliance. We didn’t choose the scrubber route for various reasons and have been happy with that decision.

Our IMO 2020 committee also discussed what kind of problems one can expect with the new types of marine fuels. So far, the preparation has proven to be useful and has helped deal with most of the issues that have come up.

On the commercial side of the transition preparation, we had to ensure our terms and conditions were up to the standards required of our typical bunker contracts. We decided to formalise our strong relationships by establishing partnerships with bunker suppliers, which meant more term contracts. We believe this commercial strategy makes sense for both bunker suppliers and ourselves.

Another difficult task was managing expectations of all stakeholders, both on and off-shore, while also ensuring we were not underestimating the impact of the transition in Q4 2019. We had expected this period to be a squeeze both in terms of product but also for barges.

We also spent a long time vetting counterparties to ensure they had the size and firepower to withstand hits even if the market went against them. It is all fine and well having a lucrative contract, but it doesn’t make much sense if they go bust two months after IMO 2020.

 MT: Do you feel there is any difference between bunker procurement pre and post-IMO 2020? In what ways?

On the technical side, bunker buyers are now required to have an even deeper knowledge of the supply chain. We now need to understand different product characteristics for bunkers that have emerged around the market with IMO 2020 in order to make fully informed decisions.

The product we get from various suppliers and markets are not uniform, creating many different challenges. There is now a lot of focus on fuel handling. As a result, we have introduced certain restrictions on how much fuel our vessels can carry of any one batch at a given time as part of our risk management practises.

Further, we now, more than ever, have to consider prioritising quality over fuel prices. Just making buying decisions based purely on prices no longer makes much sense, as now we must also consider other factors such as quality and availability of product. It isn’t much use if you have a very good price but cannot use the product.

 MT: Were there any unexpected events (e.g. Covid-19, etc.) which affected the bunker buying process in 2020? How did Hafnia overcome associated challenges?

Of course, the coronavirus (Covid-19) was a big curveball in 2020. In terms of the bunker side of things, we capitalised on us being both a strong and reliable counterpart that have also liaised with other strong and reliable counterparties.

As such, we have the luxury of being able to choose counterparts from the top shelf – to fit our profile. During the IMO 2020 transition, we were an attractive counterpart because of our strong financial status and name, which was further bolstered by our strong 2020 results.

 MT: Have the commodity trading mishaps in Singapore affected the way Hafnia purchases bunkers and operate as a bunker broker? How so?

The case of Hin Leong and the other commodity trading firms just emphasises the importance of knowing who you are dealing with and having proper K.Y.C. (know your customer) and general terms and conditions.

 MT: Thoughts on mass flow meters and the installation of MFM onboard Hafnia tankers to measure fuel delivered at other ports?

We do not have plans to install MFMs onboard our tankers to measure fuel received during bunker deliveries.

We buy bunkers for more than 450 ships. In terms of volume, this means we purchase about 2.5 million metric tonnes of marine fuels a year, including for our third-party members. Out of the total amount, we lift between 30% to 40% of marine fuel from the port of Singapore.

Singapore is the only place that mandates the use of MFMs for bunker deliveries. We are a strong supporter of this. We also encourage any other new technologies that improve the transparency in the supply chain.

 MT: What do you think is the next big thing that will happen in the Singapore or global bunkering sector?

We think there will be further consolidation on both sides of the table for bunker suppliers and buyers, and we are playing an active role in this via our Bunker Alliance.

We also expect more new fuels to materialise and, hopefully, more transparency through digitalisation efforts and other technology initiatives that improve the performance of the industry and its procedures.

As a company purchasing bunkers, we are keen to see and support any activity that promotes transparency in the industry.

 

Photo credit: Hafnia
Published: 2 October, 2020

 

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Legal

Singapore: Bunker Partner succeeds in High Court bid to wind up Victory Shipping

Estonia-based marine fuels and commodities trading company Bunker Partner filed a winding up application against Victory Shipping on 13 April.

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Singapore: Estonian firm Bunker Partner files bid to wind up of Victory Shipping

The High Court of Singapore granted a winding up order against Victory Shipping Pte Ltd on 12 June, according to a Thursday (25 June) notice on the Government Gazette. 

The winding up application was filed by Estonia-based marine fuels and commodities trading company Bunker Partner on 13 April.

Victory Shipping, with representations in Malaysia, India and the U.A.E., operates dry bulk shipping contracts around the globe with voyages performed mainly in the Middle East and Southeast Asia.

The winding up order also included the following name and address of a liquidator:

Mr Farooq Ahmad Mann
C/o M/s Mann & Associates PAC
3 Shenton Way #03-06C
Shenton House
Singapore 068805

The notice noted that all creditors of the Victory Shipping should file their proof of debt with the liquidator who will be administering all the affairs of the company. 

Manifold Times previously reported a virtual hearing between Victory Shipping and Integr8 Fuels Pte Ltd, organised by the High Court of the Republic of Singapore.

The event was to set aside a statutory demand served on 3 October 2025 by Integr8 Fuels lawyers under Section 125(2)(c) and Section 10 of the Insolvency, Restructuring and Dissolution Act 2018 (IRDA) against Victory Shipping, according to court documents obtained by the bunkering publication.

Integr8 Fuels provides bunker trading and brokerage services to shipowners and operators that enables them to optimise fuel procurement.

Related: Singapore: Court to hear Bunker Partner’s winding-up bid against Victory Shipping on 12 June
Related: Singapore: Estonian firm Bunker Partner files bid to wind up Victory Shipping
Related: Singapore: Victory Shipping aiming to set aside bankruptcy court process from Integr8 Fuels

 

Photo credit: Manifold Times
Published: 26 June, 2026

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FuelEU

Hafnia Pools surpasses 170 vessels, achieves FuelEU Maritime compliance

In announcing the company’s Q1 2026 financial results, it said five vessels joined Hafnia Pools during the first quarter of the year, bringing the total number of Pool Partners to 24 across segments.
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Hafnia Pools surpasses 170 vessels, achieves FuelEU Maritime compliance

Singapore-headquartered tanker operator Hafnia on Wednesday (24 June) the company closed Q1 2026 with more than 170 vessels trading across its pool platform.

In announcing the company’s Q1 2026 financial results, it said five vessels joined Hafnia Pools during the first quarter of the year, bringing the total number of Pool Partners to 24 across segments.

Since November 2025, vessels entering the Pools have had an average age of six years or younger, further strengthening the competitiveness and earnings capability of the platform. 

This continued inflow of modern tonnage supports Hafnia’s focus on maintaining an efficient and attractive fleet profile, while enhancing the long-term value proposition for Pool Partners.

In Hafnia’s MR Pool, six owners now each have three or more vessels committed.

During Q1 2026, Hafnia Pools successfully met the EU’s FuelEU Maritime requirements for 2025. Across the Pool, 108 vessels collectively exceeded the emissions limits; however, by working together under a “pooling” system, this was balanced out. By using cleaner vessels, biofuel, and purchased emissions credits, the Pools avoided penalties and achieved meaningful cost savings for partners.

This outcome reflects strong collaboration across Hafnia’s commercial, operational, and compliance teams, as well as constructive engagement with all Document of Compliance holders as regulations such as FuelEU come into full force.

In June 2026, Hafnia Pools further strengthened Partner engagement and alignment through its bi-annual Pool Board meeting, taking place during Posidonia in Greece.

Peter Kolding, VP Chartering Regional Trades & Pool Management, said: “As we move further into 2026, our focus remains on delivering consistent commercial results, strengthening the value proposition for all Pool Partners, and continuing to build on the close cooperation between our Chartering and Operations teams that underpins the success of the Hafnia Pools.

“I am encouraged to see that our commercial performance and efforts in staying close to our partners are paying off as we enjoy growing support from many of those same partners. It indicates that we are on the right path and energizes us to continue doing everything we can to improve even further.”

 

Photo credit: Hafnia
Published: 26 June, 2026

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Digital platform

VPS debuts VeriSphere Webshop, enhancing digital access to marine fuel solutions

Key addition is the MySurveys application, designed to support bunker quantity survey processes by providing detailed insights into quantity losses, density variations, and bunkering performance.
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VPS debuts VeriSphere Webshop, enhancing digital access to marine fuel solutions

Marine fuels testing company VPS on Thursday (25 June) announced the launch of its VeriSphere Webshop, a major step forward in the evolution of its digital platform and customer experience.

The new webshop provides customers with direct, self-service access to a growing portfolio of VPS products and services, including digital applications, Application Programming Interfaces (APIs) and sampling equipment; enabling faster, more flexible engagement with VPS’s global offerings.

The VeriSphere Webshop has been designed to simplify how shipowners, operators, and stakeholders across the marine fuel value chain, access critical tools and data. Through a streamlined interface, users can:

  • Browse and subscribe to VPS digital applications
  • Purchase services and products directly online
  • Discover complementary solutions tailored to their operational needs from VPS as well as its ecosystem partners

Alongside the launch of the webshop module, VPS continues to expand the capabilities of its VeriSphere platform, introducing new applications and enhancing existing solutions to deliver deeper operational insights.

A key addition is the MySurveys application, designed to support bunker quantity survey processes by providing detailed insights into quantity losses, density variations, and bunkering performance. This capability represents an important step in the digitalisation of traditionally manual survey processes, enabling greater transparency and benchmarking across operations.

Further enhancements across the platform reinforce VPS’s commitment to delivering actionable, data-driven insights across fuel quality, equipment performance, and operational risk management.

With continuous improvements to applications such as PortStats and the broader VeriSphere suite, VPS is enabling customers to move beyond static reporting toward pro-active operational intelligence.

By combining its extensive global fuel quality database with advanced analytics and digital delivery, VPS aims to empowere its customers to identify risks early, optimise fuel performance, simplify compliance and improve operational efficiency.

Dr. Malcolm Cooper, CEO at VPS, said: “The launch of the VeriSphere Webshop marks an important milestone in our digital journey.

“We are making it easier than ever for our customers to access the data, insights, and tools they need, when they need them. As the maritime industry continues to evolve, our focus is on delivering scalable, digital solutions that drive better decision-making, improve operational performance of vessels, prevent downtime and support the transition towards more sustainable maritime operations.”

VPS added that the VeriSphere Platform will continue to evolve with an expanding portfolio of products, services, and ecosystem partnerships.

Related: VPS unveils digital bunker fuel and emissions platform Verisphere

 

Photo credit: VPS
Published: 26 June, 2026

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