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Interview: KPI OceanConnect dives deeper on its FY2023/2024 and what’s to come

Anders Grønborg and Jesper Sørensen give more details on recent financial year results and KPI OceanConnect’s plans, including the company’s focus for the bunkering market in Asia, especially in Singapore.

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Interview: KPI OceanConnect dives deeper on its FY2023/2024 and what’s to come

In an exclusive interview with Singapore-based bunkering publication Manifold Times, Anders Grønborg, CEO, and Jesper Sørensen, Head of Alternative Fuels & Carbon Markets, KPI OceanConnect, shared insights into its recent results for the financial year 2023/2024 and its plans, including the company’s focus for the bunkering market in Asia, particularly in Singapore, for the upcoming financial year: 

MT: With an increased volume of 9% to 12 million mt in FY 2023/24, what does KPI OceanConnect aim to achieve for FY 2024/2025?  

Grønborg: Our aim for the next year is to stand side-by-side with our clients. From complying with all regulations and adopting alternative fuels to trading with conventional bunker fuel, our aim is to continue to anticipate and support our clients with their evolving needs.

In tangible terms, this could mean more offices in strategic locations around the world or hiring more people to bring in the right expertise. Having met our financial and market share targets last year, this next chapter is an exciting time of growth and consolidation for KPI OceanConnect.

MT: KPI OceanConnect’s Alternative Fuels & Carbon Markets team delivered several low-carbon fuel bunkering firsts for clients around the world during FY 2023/24, what can the industry expect from KPI OceanConnect in the coming months for alternative bunker fuels?  

Sørensen: We are focusing on greater volumes of alternative fuels, driven by global regulations, to help the industry make informed decisions on their energy transition. As an intermediary, we will continue to play an active role in connecting the dots between bunker suppliers and buyers to aggregate demand, build infrastructure and scale for the uptake of these fuels.

With this partnership approach, we can exchange knowledge on best practices and give bunker buyers and suppliers the confidence to invest in alternative fuel infrastructure development.

MT: How did the firm reach its milestone of having 100 biofuel supply locations around the world? Does the firm aim to take it to a higher number of locations in the coming FY? If yes, could you share with us the goal and locations? 

Sørensen: We recognize the importance of ensuring the right fuel is available for our clients on their trade lanes. To enable this, we have actively been partnering up with suppliers across the world to ensure that we can complete trials and deliveries of biofuels (and LNG) for our clients.

MT: The company has noted that marine fuel demand has been rising along the route via South Africa in its statement on the FY. Is the company taking any steps to leverage this and how?  

Grønborg: What we have seen is customers taking on more fuel in Asia as they travel on the East-West route, and volumes have been rising for those vessels that are able to bunker that much. Elsewhere along the route, we have seen increased volumes, in particular in Durban and Las Palmas.

We have always been able to supply in these locations and clients have asked us to do so in the past, but as routes have been forced to change, the demand in these locations has increased. For us it means working with our partners to make sure we have the volumes they want, wherever they want them.

MT: What will be KPI OceanConnect’s focus for the bunkering market in Asia, particularly in Singapore, for FY 2024/2025? 

Sørensen: When it comes to the Asian bunkering market, we are still in the relatively early days of transitioning to alternative fuels. This is because there is currently little regulatory or financial incentive to adopt these future fuels.

Still, there are clear indicators that China will continue to build up its LNG and biofuel infrastructure, which means that it will be able to better support regional players who are first movers.

Singapore is a key bunkering hub and we have been working closely with the MPA to understand its plans to encourage the uptake of alternative fuels and establish the necessary infrastructure.

As a market leader across the region, we see it as our role to support our stakeholders by sharing our knowledge and insight on alternative fuels.

By working in partnership with suppliers, we can help them find a market and reassure ship owners and operators that they will be able to access fuel supplies as they adopt new technologies.

This may mean working with multiple suppliers to ensure bunker buyers can meet their fuel demands. As a marine energy service and solutions provider, we have the scale, resources and reach to be able to connect both sides of the equation and continue fuelling global trade.

Related: KPI OceanConnect achieves 9% increase in annual bunker volume
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Related: KPI OceanConnect, Pavilion Energy collaborate on first SIMOPS LNG bunkering in Singapore
Related: KPI OceanConnect: EU ETS success depends on preparation and partnership
Related: KPI OceanConnect, Petronas deliver LNG bunker fuel to “MSC Thais” in Malaysia

 

Photo credit: KPI OceanConnect
Published: 23 August, 2024

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Alternative Fuels

Yang Ming orders six LNG dual-fuel, ammonia-ready containerships from Hanwha Ocean

Each of the six new vessels will have a capacity of up to 13,650 TEU and feature LNG dual-fuel propulsion and Ammonia Fuel Ready specifications.

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Yang Ming orders six LNG dual-fuel, ammonia-ready containerships from Hanwha Ocean

Taiwanese shipping firm Yang Ming Marine Transport Corporation (Yang Ming) and South Korean shipbuilder Hanwha Ocean on Wednesday (2 September) signed a shipbuilding contract for six 13,000 TEU class LNG dual-fuel container vessels. 

The contract was signed by Dr. Chuck Tsai, Chairman of Yang Ming, and Mr. Charles Kim, CEO of Hanwha Ocean. The vessels are scheduled for delivery between 2028 and 2029. 

They will complement Yang Ming’s existing fleet of 10,000+ TEU vessels and serve as key vessels on East-West services, with deployment flexibility across trade lanes connecting Asia with the East and West Coasts of North America, South America, and the Mediterranean. 

Each of the six new vessels will have a capacity of up to 13,650 TEU and feature LNG dual-fuel propulsion and Ammonia Fuel Ready specifications.

“As Yang Ming transitions toward net-zero emissions, LNG provides a relatively mature and economically viable alternative fuel solution, capable of reducing greenhouse gas emissions by approximately 20%,” the company said. 

“At the same time, ammonia can serve as a carbon-free fuel by utilising converted LNG storage facilities, while offering relatively lower conversion costs and comparatively well-developed supply chains and infrastructure. The Ammonia Fuel Ready design will therefore provide Yang Ming with greater flexibility in responding to increasingly stringent international regulations on greenhouse gas emissions.”

In addition, the vessels will be equipped with Type B LNG fuel tanks with a design pressure of 1.0 bar to enhance the safety and efficiency of LNG operations, together with a range of energy-saving technologies, including Wind Shields, Rudder Bulbs, Pre-Swirl Stators, and Shore Power Systems. Smart ship technologies and cybersecurity protection features will also be incorporated to enhance operational efficiency, safety, and reliability while effectively reducing fuel consumption and greenhouse gas emissions.

Deliveries under Yang Ming’s next-generation fleet optimization plan commenced earlier this year. By 2030, a total of 24 new vessels are expected to enter service. 

This includes 18 LNG dual-fuel vessels—comprising five 15,500 TEU, seven 16,000 TEU, and the six 13,000 TEU vessels under this contract—alongside six 8,000 TEU methanol dual-fuel-ready ships. 

 

Photo credit: Yang Ming Marine Transport
Published: 4 September, 2026

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LR, China’s MARIC unveil tanker concept ready for three future bunker fuels

Both secured AiP for a new 114,000 DWT product and crude oil tanker designed to accommodate future conversion to LNG, methanol or ammonia.

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LR, China’s MARIC unveil tanker concept ready for three future bunker fuels

Lloyd’s Register (LR) and the Marine Design and Research Institute of China (MARIC) on Thursday (3 September) have secured Approval in Principle (AiP) for a new 114,000 DWT product and crude oil tanker designed to accommodate future conversion to LNG, methanol or ammonia.

Announced at SMM 2026, the concept addresses one of the biggest investment challenges facing shipping today: the need to develop vessels and capabilities that can support a range of alternative fuel options and pathways as technologies, infrastructure and regulations evolve.

While LNG is already a mature fuel pathway, methanol and ammonia remain at an earlier stage of development, with questions around global fuel availability, infrastructure development, economics and long-term adoption.

The 114,000 DWT tanker concept has been designed as a product and crude oil carrier that can accommodate future conversion to LNG, methanol or ammonia as technologies, regulations and fuel supply chains mature. By incorporating conversion readiness at the design stage, the concept aims to reduce future retrofit complexity and provide owners with greater confidence when planning long-term fleet investments.

The design concept was reviewed against LR’s July 2026 class rules and regulations, including requirements relating to ships using gases and other low-flashpoint fuels, alongside relevant IACS Common Structural Rules for oil tankers. Final classification and statutory approval remain subject to full compliance with all applicable rules and regulations.

Theo Kourmpelis, Global Business Director for Tankers, Lloyd’s Register, said: “Shipowners are being asked to make major investment decisions today despite continued uncertainty around which fuels will dominate in the decades ahead. Alternative fuel solutions each offer potential pathways to compliance, but fuel infrastructure, regulation and economics continue to evolve at different speeds around the world.

“Designs that preserve flexibility will be critical in helping owners manage risk while preparing for multiple future scenarios.”

Si Nan, Marine & Offshore Marketing Department Vice Director, MARIC, said: “As the industry explores different decarbonisation pathways, shipowners need vessel designs that can adapt alongside technological and regulatory developments. This concept was developed specifically to provide greater fuel flexibility and long-term resilience, allowing owners to respond to changing market requirements without being locked into a single fuel strategy.

“Receiving Approval in Principle from Lloyd’s Register is an important milestone that validates the design concept and supports its future development.”

 

Photo credit: Lloyd’s Register
Published: 4 September, 2026

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Alternative Fuels

DNV: Alternative-fuelled vessel orders hit highest monthly level since October 2024

LNG-fuelled vessels accounted for the vast majority of August activity while the strong summer performance marked a significant acceleration in ordering activity after a relatively slow start to the year.

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DNV: Alternative-fuelled vessel orders hit highest monthly level since October 2024

Latest data from classification society DNV’s Alternative Fuels Insight (AFI) platform alternative-fuelled vessel ordering was strong in August, with 52 new vessels added to the platform.

This is the highest monthly total since October 2024 and follows another active month in July, when 47 vessels were added to the database.

LNG-fuelled vessels accounted for the vast majority of August activity, with 46 orders recorded. The container segment led the way with 30 orders, while the car carrier segment contributed a further 12 LNG-fuelled vessels. In addition, four ethanol-fuelled bulk carriers and two hydrogen-powered bulk carriers were added during the month, as well as one LNG bunker vessel.

The strong summer performance marked a significant acceleration in ordering activity after a relatively slow start to the year. In total, 242 alternative-fuelled vessel orders have been placed in the first eight months of 2026, representing a 27% increase compared with the same period in 2025.

LNG remains the dominant fuel choice, accounting for 63% of all alternative-fuelled vessel orders registered so far this year. Container vessels represent the largest share of these LNG orders (59%), followed by car carriers (30%).

Jason Stefanatos, Global Decarbonization Director at DNV Maritime, said: “The past two months have been particularly strong for alternative-fuelled vessel ordering, with August recording the highest monthly total we’ve seen since October 2024. This has helped lift year-to-date orders to a level well above the same period last year.

“LNG remains the leading fuel choice, driven largely by activity in the container and car carrier segments. These sectors have been among the earliest adopters of alternative fuels, supported by predictable liner operations and increasing demand from cargo owners to reduce emissions across supply chains. 

“For many owners, LNG offers a combination of emissions reductions, fuel availability and future flexibility while the longer-term fuel landscape continues to evolve. 

“At the same time, the latest figures include orders for ethanol- and hydrogen-fuelled vessels, highlighting that owners continue to explore a range of decarbonization pathways. Different segments are making different fuel choices, but the overall level of activity demonstrates continued investment in lower-emission shipping.”

Screenshot 2026 09 04 at 12.29.26 PM Screenshot 2026 09 04 at 12.29.36 PM

 

Photo credit: DNV
Published: 4 September, 2026

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