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Interview: IBIA to intensify all marine energy related stakeholder activities, says new Chairman

Constantinos Capetanakis, Bunker Director at Star Bulk Carriers Corporation, updates Manifold Times the changes he will be implementing for IBIA during his tenure as its new Chairman.

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Constantinos Capetanakis, Chairman of IBIA

The International Bunker Industry Association (IBIA) will be intensifying its exposure on all fronts under the new leadership of Constantinos Capetanakis, Bunker Director at Star Bulk Carriers Corporation, learns Manifold Times.

Capetanakis recently took over Timothy Cosulich as Chairman of IBIA for a period of two years effective 1 April 2024.

“IBIA is already undergoing a series of changes the past few years. So, during my term, these changes will continue and will increase so that IBIA acquires even more visibility worldwide than it already has,” he told the bunkering publication.

“And by visibility, I mean IBIA will become even more vocal in all activities not only in the International Maritime Organization (IMO), which is our number one priority, but also in other well-known international corporations with which we already do business with, as well as in new partnerships which we intend to form and in events we will be participating.”

According to Capetanakis, IBIA plans to intensify cooperation with all partners in Singapore, China, Europe, the United States, Middle East, and more.

“What I will focus on more is further diversification of IBIA’s membership because we want IBIA to embrace all marine energy stakeholders from all countries whether they have a direct or indirect relationship with marine fuels and not have limits as to who can join IBIA,” he shared.

To date, IBIA has already set up regional board in Asia, Africa, and the Americas. Its latest Middle East regional board was established in November 2023, and the organisation is planning to establish its final regional board in Europe within 2024.

“The creation of the last regional board in Europe will create a vast network for our membership,” stated Capetanakis.

“IBIA is a membership organisation offering specific advantages; the obvious one is the consultative status IBIA has within the IMO where we can suggest interventions on behalf of members and the bunkering industry.”

Recent interventions which IBIA participated are:

  1. MEPC 81/7/15 (Australia, Denmark, France, Germany, Greece, Japan, Netherlands (Kingdom of the), Norway, ICS, EDF, IBIA, INTERCARGO, INTERTANKO, IPIECA, IWSA, Pacific Environment, RINA, SGMF, WSC and ZESTA) Establishment of an IMO expert group on life-cycle assessment of marine fuels.
  2. MEPC 81/INF.12 (IBIA) Sampling of low-flashpoint fuels supplied to ships for use on board as fuel (MEPC 81, 18 to 22 March 2024) This document provides information on a method developed for the sampling of low-flashpoint fuels (methanol) supplied to ships for use on board as fuel. The proposed method seeks to address the critical need for safety and efficiency in handling low flashpoint fuels during bunkering operations.
  3. ISWG-GHG 16/2 (ICS and IBIA) Revised possible draft amendments to MARPOL Annex VI to implement a simplified Global GHG Fuel Standard (GFS) with an energy pooling compliance mechanism.
  4. MEPC 81/INF.4 (IBIA) Carriage of biofuels for supply to a ship for use as fuel oil on board that ship. MEPC 78 in June 2022 agreed that biofuel blends up to 30% biofuel (B30) could be regarded in the same way as regular oil-based fuels and also that engines certified to do so could use biofuels from B30 to B100 i.e., 100% biofuel. However, IBIA notes that ships engaged in bunkering operations and certified under MARPOL Annex I cannot carry biofuel blends with >24% biofuel even within port waters.
  5. Other IMO related activities - Red Sea – bunker activity report for Africa. Following a request received from IMO, a bunker activity report for Africa has been prepared and posted by both IBIA and IMO: https://www.imo.org/en/MediaCentre/HotTopics/Pages/Red-Sea.aspx

Further, Capetanakis notes IBIA has working groups ranging from digitalisation, future fuels, mass flow meters, technical, and more for all members to participate, exchange knowledge, and present concrete projects, while its regional boards allow stakeholders to express local concerns and activate advocate them.

“IBIA is a place where people can meet, discuss, analyze, intervene, and affect policy because at the end of the day you want real changes to be applied. By strengthening IBIA’s membership, we can be more effective in becoming an even stronger pressure group,” he explained.

“Any IBIA member can be within the centre of developments and take action either in a working group, regional board, or a committee to shape policy.

“We also offer members speaker positions at events, in addition to editorial contribution opportunities at our inhouse magazine for them to speak their mind. Coming up, let’s not forget our upcoming Singapore Dinner in April, plus our Annual convention in Athens in November, both of which events are expected to be massively sold out”

Moving forward, Capetanakis believes his background has prepared himself to be the right man to lead IBIA as Chairman for the next two years.

“I represent a dry bulk shipping company and my company Starbulk Carriers is one of the largest dry bulk shipping companies in the world and listed in the New York Stock Exchange. We are buyers of a substantial volume of bunkers, buying close to 1 million metric tonnes of fuel every year,” he said.

“Being on the buying side, you get to cooperate with a wide network of suppliers, fuel producers, fuel experts, and other stakeholders as well. So, I'm in an ideal position to grasp all the various elements that IBIA needs to focus on, on our way to decarbonisation.

“I also believe my legal background as an English solicitor and a Greek lawyer enables me to grasp the fine details that are needed for IBIA’s narrative to become clearer and encompassing, both to the membership we want to approach but also to the wider public. I think the message will be passed on clearly and I hope I will be able to contribute to that.”

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

 

Photo credit: International Bunker Industry Association
Published: 2 April 2024

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Interview

S-100 data framework to revolutionise maritime navigation for bunkering operators and shipowners

‘S-100 for bunkering operators is going to be truly transformational,’ states Thomas Mellor, Head of Technical Partnerships, UK Hydrographic Office, in an interview with Manifold Times.

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S 100 ManifoldTimes

Maritime navigation for bunker tanker operators and shipowners is set to enter a new era with the International Hydrographic Organization’s upcoming S-100 data framework, a cutting-edge data framework poised to transform how ships navigate and operate globally, learns Manifold Times.

Replacing the decades-old S-57 standard for Electronic Navigational Charts developed in the 1990s, S-100 offers unprecedented flexibility and integration of diverse maritime data.

The UK Hydrographic Office (UKHO) explained the new framework will combine critical information like weather, under-keel clearance, tides, and surface currents into a single, standardised system.

“S-100 for bunkering operators is going to be truly transformational because it can bring together various data sets into a standardised format, aiding in pre-planning for bunkering operations,” shared Thomas Mellor, Head of Technical Partnerships, UKHO during the sidelines of Sea Asia 2025.

“The integration of multiple data sets into one system will reduce stress and the risk of accidents or oil spills, making it easier to assess the safety and feasibility of bunkering operations.”

According to Mellor, S-100's ability to dynamically adjust depth contours based on tide and water levels is a significant advantage over S-57. S-100 is not static and can be extended for future technological developments without affecting current product specifications.

The development of the S-100 data framework is still in the test and development phase, with the first S100-compatible ECDIS systems expected to be seen in the market by 2027-2028.

The International Maritime Organization (IMO) approved a new performance standard for S-100 in November 2022 which will come into force on January 1, 2026, meaning that S-100 compliant ECDIS will be legal and compliant to use from this date onwards.

On January 1, 2029, the IMO will retire the old S-57 ECDIS performance standard, moving ships to adopt S-100 compatible systems for new ECDIS systems installed (including retrofits).

“For shipowners transitioning from S-57 to S-100,  crew training on the  use of the new system will be key to getting the most out of the equipment,” stated Mellor.

“The UK Hydrographic Office will look to support the transition with new training materials provided to support users of S-100 electronic navigational products.”

 

Photo credit: UK Hydrographic Office
Published: 8 April 2025

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Biofuel

OceanScore launches free-to-use digital platform to trade FuelEU biofuel compliance credits

In an interview with Manifold Times, Managing Director Albrecht Grell said the new platform supports current marketing practises used by EU-based biofuels suppliers and bunker trading firms.

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OceanScore launches free-to-use digital platform to trade FuelEU biofuel compliance credits

Hamburg-based technology platform OceanScore has launched a platform to facilitate the trading of biofuel surpluses and deficits under the FuelEU Maritime Regulation pooling scheme, learns bunkering publication Manifold Times.

The platform is designed to be simple and user-friendly, allowing bunker companies to find buyers for their surplus biofuels and shipping companies to find suppliers. It is free-to-use, with a low fee for signing on, and is intended to complement OceanScore's main software solutions.

Further, the new platform complements current marketing practises used by European Union (EU)-based biofuels suppliers and bunker trading firms in lieu of FuelEU Maritime, informs Albrecht Grell, Managing Director, OceanScore.

“EU-based biofuel companies are now employing two strategic options to convince a shipping company to buy biofuels,” he told Manifold Times in an interview.

“The first option is just good marketing, good product and good prices.

“The second option is a discount-based strategy targeting vessels that have defined and very reliable European trading patterns. This means that when the vessels burn biofuel, they create a lot of compliance surplus as the vessels are always in Europe.

“To these vessels, quite a few European bunkering companies are selling biofuels at a discount. In return, there is an agreement for the shipping company to include these vessels into a compliance pool managed by the bunkering firms, so that the latter can sell their customers’ compliance surplus to others.”

According to Grell, OceanScore's platform is simpler and more user-friendly compared to competitors. The platform does not require complex onboarding or KYC processes, making it accessible to a wider range of companies.

The firm does not tokenise compliance pooling, keeping the process straightforward. The platform is designed to be a meeting place for buyers and sellers, without unnecessary complications.

“How do we make money? We don't, frankly, with that platform, we don't make money because we make our business more on the general software that we sell towards managing FuelEU and EU ETS for shipping companies,” he said.

“Our main business is really our Compliance Manager that helps shipping companies run their commercial processes to manage EU ETS and FuelEU. This FuelEU Pooling Marketplace is just an add on service – but it benefits from the market leading position we have built in the EU ETS and FuelEU space with more than 1500 vessels using our platform.”

Moving forward, Grell addressed concerns about data security and privacy, especially for bunker trading firms using the platform.

He explained that the platform is an advertising platform, with only a sample of prices is visible to the public. Customers must go through OceanScore's authentication process to access the platform, and transactions are handled off-platform to maintain confidentiality and privacy.

Related: OceanScore to launch combined EU ETS and FuelEU solution in Singapore
Related: OceanScore calculates EUR 175 mil potential costs for Greek shipping with FuelEU Maritime
Related: OceanScore models price scenario for FuelEU pooling as alternative to penalties
Related: OceanScore opens new Singapore office for Asia Pacific expansion
Related: OceanScore reveals ship segments set to feel EUR 1.3 billion sting of FuelEU penalties
Related: FuelEU: New regulation leaves DoC holder with fuel liabilities risk, says OceanScore
Related: ‘Big opportunity’ for bunker traders, suppliers on upcoming FuelEU regulation, forecasts OceanScore

 

Photo credit: OceanScore
Published: 7 April 2025

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Interview

U-Ming Marine navigates uncharted waters of sustainability within dry bulk sector

CK Ong, President, U-Ming Marine shares with Manifold Times the challenges of going green in the bulk carrier segment.

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U-Ming Marine navigates uncharted waters of sustainability within dry bulk sector

In the complex world of maritime shipping, Taiwan's largest bulk carrier company U-Ming Marine is navigating uncharted waters of sustainability, learns bunkering publication Manifold Times.

Led by CK Ong, the company’s President is pioneering an approach to decarbonisation that challenges traditional industry norms, particularly in the dry bulk shipping sector.

“Unlike container shipping with its predictable routes, dry bulk carriers operate more like maritime taxi services, making green technology investments significantly more challenging,” explained Mr Ong in an interview on the sidelines of Sea Asia 2025.

Yet, U-Ming Marine has committed to four liquified natural gas (LNG)-powered vessels, accepting a 20-30% increase in capital and operating costs.

“Our company's strategy hinges on collaborative partnerships,” Mr Ong told Manifold Times.

By working closely with mining companies, U-Ming shares the financial burden of sustainable shipping. This innovative approach has allowed it to develop the four LNG dual-fuel ships within its 70-vessel fleet, all built with a commitment towards enhancing fuel efficiency.

“Someone has to take the first step,” Mr Ong explains, highlighting the urgent need for action against climate change.

The company recognises that environmental challenges cannot be solved by a single entity. Instead, success requires cooperation amongst stakeholders - from cargo owners and ship operators to technology providers.

Currently, the maritime market doesn't necessarily reward lower emissions as most customers don't prioritise a ship's environmental impact when selecting carriers.

However, U-Ming Marine sees beyond immediate economic considerations. The company’s approach is driven by a deeper understanding of environmental responsibility, said Mr Ong.

While the current LNG infrastructure isn't perfect, U-Ming sees it as the most mature and eco-friendly alternative when compared to traditional bunker fuels.

The company will continue to explore future technologies such as ammonia and methanol, always with an eye toward reducing maritime carbon emissions.

 

Photo credit: Manifold Times
Published: 7 April 2025

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