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Interview: Nereus Digital Bunkers to launch self-developed bunker procurement ecosystem for shipping sector

Nereus Platform will help purchasers and vendors of bunker fuel transact through all stages of bunkering processes while helping them reduce operating costs and save time, amongst others.

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Nikolas Gkikas

The following is an exclusive interview by Singapore bunkering publication Manifold Times with Nikolas Gkikas, founder of maritime software and brokerage company Nereus Digital Bunkers, on its Nereus Platform which connects purchasers, traders and physical suppliers of bunker fuel:  

MT: What is the current main product of the Nereus Digital Bunkers?

Nereus Digital Bunkers has developed the SaaS Platform ‘Nereus’ which helps purchasers and vendors transact through all stages of the bunkering process. It serves as an ecosystem of tools specifically designed to help purchasers and vendors to save time, reduce operating costs, minimise risk and decrease complexity. The platform provides solutions using sophisticated analytics, oil pricing forecastings that cover and exceed the needs of the industry, from marine fuel suppliers to purchasers. NEREUS platform has an active roadmap with a vision to become the ultimate ecosystem of bunkering in the digital era.

MT: What is the name for this new software and how does it enhance the Nereus Digital Bunkers platform?

The software’s name is ‘Nereus Platform’. It is a software through which vendors (traders, physical suppliers) can upload their indication prices and information about their companies. This way, purchasers can keep in touch with them through Nereus Platform. Currently, the software is in beta version and we are working on it with some strategic clients.

nereus digital bunkers 1

MT: Why will physical suppliers and traders find this software useful?

Nereus Platform provides a set of advantages that make it unique and are destined to make the life and work of supplier and traders easier and more effective. Some of these advantages are:

  • For physical suppliers and traders
  • Risk Minimisation/ Hedging Optimisation - Using the models outputs, vendors can now hedge more efficiently 
  • Time Optimisation - Providing the opportunity to buy or hedge more time efficiently reducing costs.
  • Find Clients
  • Be part of Nereus ecosystem
  • API service

All in all, Nereus aims to be the aggregator of all information related to the bunkering operations, where inquiry information is stored, organised and shared across departments. It serves as a single source of truth for the inquiries of the past and a pilot for the future inquiries. At Nereus we are fully aware that knowledge and information -at the right moment- make all the difference in our industry.

MT: How is this software different from the ones currently offered by various players in the bunkering sector?

Nereus platform differentiates itself from the rest industry like-minded software by integrating many different tools in one platform, facilitating end to end trading, inquiry processing and organised information storing of almost all bunkering operation aspects. The strongest and most competitive advantages of Nereus Platform is that it:

  • Simplifies bunkering operation workflows, by including many roles that come into play when an inquiry is processed within a company 
  • Helps vendors gain market clarity and stay up to date with market trends, through state of the art analytics and the predictive power of AI technology.

With the Nereus Platform, workload management is reduced by 68% (actual data from user analytics and customer surveys). Our oil forecasting accuracy is 73% (empirical observation from real world platform performance).

nereus digital bunkers 2

MT: What kind of helpful information can users expect from the analytics market insights available in your software and how is this information different from the info available from information providers?

Nereus Analytics is employing various statistical models including multivariate linear models to identify primary risk factors and proxy the fair prices of assets against these risk factors. We also provide historical data across the board for ad hoc decisions, customised signals to clients by exploring “big data” and adding value to the daily workload.

The models can be based on fundamental and technical analysis, sentiment and valuations to generate signals for various assets.  For example, the sentiment signal for buying Oil contracts has a high "Hit" to "Miss" working as a contrarian over a certain time horizon. Our forecasting capabilities have provided a new approach to the bunkering world. Nereus Analytics has developed oil forecasting models based on: Commodity Analytics, Market Valuations, Market Sentiment and more. Using various statistical tools to analyse the market data on oil, Nereus Analytics has managed to provide to their clients the tools to make the right decisions at the right time using the best solution.

MT: What were the challenges and considerations faced through development of this software and how did your team overcome them?

Custom software development is often surrounded by issues of what the client wants and expects and what the development team understands and delivers.      

Budgets ran over, releases were slow and delivery was disjointed, with each party’s expectations never being met. Initially the new engagement also had expectation mismatches but then we created a dedicated team. The teams started working as one team with interactive workshops that resulted in clear user stories which went to development only after sign off. This process was refined over time with constant meetups and even joint testing sessions as a team resulting in a successful integrated team with quality delivery being our main focus.

MT: What visions do you expect from this new piece of software? What do you hope to achieve through its launch?

Through my 18-year career in the shipping industry, where I was working firstly as an agent in the Port of Los Angeles, then as a bunker broker in Connecticut Greenwich and then as a bunker trader in Greece, I had the opportunity to engage with the bunker industry from many different viewpoints. Through my experience, I managed to see the gap in the industry, which of course was the absence of the tools that technology provides. For this reason, market research and communication with clients was a time-consuming process. As a result, by using all the experience and the information I gathered all these years, I decided to create a start-up in the shipping industry and take advantage of the big trend of technological transition that defines our time. Nereus Digital Bunkers’ vision is to create an ecosystem for bunkering, where purchasers and vendors will come in touch with each other and communicate.

nereus digital bunkers 3

MT: Why will physical suppliers and traders find this software useful?

Nereus Platform provides a set of advantages that make it unique and are destined to make the life and work of supplier and traders easier and more effective. Some of these advantages are:

For physical suppliers and traders:

  • Risk Minimisation/ Hedging Optimisation - Using the models outputs, vendors can now hedge more efficiently 
  • Time Optimisation - Providing the opportunity to buy or hedge more time efficiently reducing costs.
  • Find Clients
  • Be part of Nereus ecosystem
  • API service

All in all, Nereus aims to be the aggregator of all information related to the bunkering operations, where inquiry information is stored, organised and shared across departments. It serves as a single source of truth for the inquiries of the past and a pilot for the future inquiries. At Nereus we are fully aware that knowledge and information -at the right moment- make all the difference in our industry.

 

Photo credit: Nereus Digital Bunkers
Published: 21 October, 2022

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Bunker Fuel

Singapore: Bunker fuel sales down by 9.1% on year in January 2025

4.46 million mt of various marine fuel grades were delivered at the world’s largest bunkering port in January, a drop from 4.91 million mt recorded during the similar month in 2024, according to MPA data.

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Singapore: Bunker fuel sales down by 9.1% on year in January 2025

Sales of marine fuel at Singapore port decreased by 9.1% on year in January 2025, according to Maritime and Port Authority of Singapore (MPA) data.

In total, 4.46 million metric tonnes (mt) (exact 4,461,710 mt) of various marine fuel grades were delivered at the world’s largest bunkering port in January, a drop from 4.91 million mt (4,906,100 mt) recorded during the similar month in 2024.

Deliveries of marine fuel oil, low sulphur fuel oil, ultra low sulphur fuel oil, marine gas oil and marine diesel oil in January (against on year) recorded respectively 1.66 million mt (zero from 1.66 million mt), 2.43 million mt (-15% from 2.86 million mt), 900 (+100% from zero), 3,100 mt (-77% from 13,500 mt) and zero (from zero).

Singapore: Bunker fuel sales down by 9.1% on year in January 2025

Bio-blended variants of marine fuel oil, low sulphur fuel oil, ultra low sulphur fuel oil, marine gas oil and marine diesel oil in January (against on year) recorded respectively 16,000 (+100% from zero), 92,000 mt (+103% from 45,300 mt), zero (from zero), zero (from zero) and zero (from zero).

LNG and methanol sales were posted respectively at 6,600 mt (-36.5% from 10,400) and zero (from zero).

A complete series of articles on Singapore bunker volumes by Manifold Times in 2024 can be found below:

Related: Singapore: Bunker fuel sales down by 5.2% on year in December 2024
Related: Singapore: Bunker fuel sales gain by 4.6% on year in November 2024
Related: Singapore: Bunker fuel sales gain by 10.8% on year in October 2024
Related: Singapore: Bunker fuel sales continue to increase by 2.8% on year in September 2024
Related: Singapore: Bunker fuel sales increase by 7.2% on year in August 2024
Related: Singapore: Bunker fuel sales up by 3.3% on year in July 2024
Related: Singapore: Bunker fuel sales gain 8.7% in June 2024
Related: Singapore: Bunker fuel sales increase by 6.7% in May 2024
Related: Singapore: Bunker fuel sales down by 0.6% on year in April 2024
Related: Singapore: Bunker fuel sales increase by 6.4% on year in March 2024
Related: Singapore: Bunker fuel sales up by 18.8% on year in February 2024
Related: Singapore: Bunker fuel sales up by 12.1% on year in January 2024

 

Photo credit: Maritime and Port Authority of Singapore
Published: 14 February, 2025

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Bunker Fuel

Singapore-based Straits Bio-LNG aims to deliver 250,000 mt of bio-LNG bunker fuel per year

Firm is currently in advanced stage of testing breaking down Empty Fruit Bunch through an established biological process with high enzyme concentration in its R&D facility in Malaysia to produce bio-LNG.

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Singapore-based Straits Bio-LNG aims to deliver 250,000 mt of bio-LNG bunker fuel per year

Straits Bio-LNG, a privately owned supplier of bio-LNG, is aiming to deliver 250,000 metric tonnes (mt) of bio-LNG per year in Singapore, according to SEA-LNG on Thursday (13 February).

The Singapore-based company, led by SK Tan as CEO, is doing so in response to the growing demand for LNG. LNG bunkering volumes have grown significantly in key bunkering hubs as more LNG-fuelled vessels have entered into operation. 

The Maritime and Port Authority of Singapore (MPA) saw a dramatic four-fold increase in 2024 to almost 340,000 mt, SEA-LNG said in a statement announcing Straits Bio-LNG joining the coalition. 

Headquartered in Singapore, the company boasts a growing team led by SK Tan as CEO.  

Yiyong He, Director at Straits Bio-LNG, said: “We’re firmly convinced in the viability of the LNG pathway to decarbonise the shipping industry. With its very low carbon intensity and improving commerciality, liquified biomethane will be a critical piece of the puzzle for decarbonising the sector.”

“By joining SEA-LNG, we’re proud to be part of a collection of first movers making real strides to make the LNG pathway a tangible reality today.”

Straits Bio-LNG aims to reach its bio-LNG supply goal by using pioneering methods. It is currently in the advanced stage of testing breaking down Empty Fruit Bunch (EFB) through an established biological process with high enzyme concentration in its R&D facility in Malaysia. 

Both Palm Oil Mill Effluent (POME) and EFB are sustainable biomass resources listed in the “List of Materials Eligible for ISCC EU Certification” and are therefore compliant with the European Union’s Renewable Energy Directive (RED).

Peter Keller, chairman of SEA-LNG, added: “The Port of Singapore is the largest global bunkering hub. As seen in our View from the Bridge report, 2024 saw record growth in LNG and liquified biomethane bunkering, but we need more fuel to meet upcoming demand.”

“The use of liquefied biomethane as a marine fuel can reduce GHG emissions by up to 80% compared to marine diesel on a full well-to-wake basis. When produced from the anaerobic digestion of waste materials, such as manure, POME or EFB, methane that would otherwise be released into the atmosphere is captured, resulting in negative emissions of up to -190% compared with diesel."

An independent study by the Maritime Energy and Sustainable Development Centre of Excellence at Nanyang Technical University in Singapore found that pure bio-LNG could cover up to 13% of the total energy demand for shipping fuels in 2050, rising to 63% for a 20% blending ratio. 

SEA-LNG added MPA has firmly established itself as a leader in the LNG pathway, with suppliers such as Straits Bio-LNG reinforcing this position. 

Recently, the port launched an Expression of Interest (EOI) to explore scalable solutions for sea-based LNG reloading to complement the existing onshore LNG bunkering storage and jetty capacities and the supply of e/bio-methane as marine fuel in the Port of Singapore.

“Straits Bio-LNG will play a critical role in furthering the expansion of liquified biomethane at scale to meet the demand and continuing to showcase the LNG pathway as a practical and realistic solution for shipowners to decarbonise their operations, starting today,” it said. 

Related: Singapore: MPA launches EOI to expand LNG bunkering services amid growing demand

 

Photo credit: Straits Bio-LNG
Published: 14 February, 2025

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Winding up

Singapore: Final meetings scheduled for Gagarmayang Maritime and related companies

Other companies involved are Pramoni Maritime Pte Ltd, Wulansari Maritime Pte Ltd, Anjasmoro Maritime Pte Ltd and Indradi Maritime Pte Ltd.

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The final meetings of members of Gagarmayang Maritime Pte Ltd and related companies, has been scheduled to take place on 12 March, according to the company’s liquidators on a notice posted on Wednesday (12 February) on the Government Gazette.

The other companies involved in the matter are Pramoni Maritime Pte Ltd, Wulansari Maritime Pte Ltd, Anjasmoro Maritime Pte Ltd and Indradi Maritime Pte Ltd.

The meetings will be held by way of electronic means at 11am for the purpose of having an account laid before the members showing the manner in which the winding up has been conducted and the property of the company disposed of and of hearing any explanation that may be given by the liquidators.

The details of the liquidators are as follows:

Hamish Alexander Christie
c/o H.A. Christie & Co
20 Collyer Quay, #11-05
Singapore 049319

Related: Singapore: Wulansari Maritime Pte Ltd and related companies to be wound up voluntarily
Related: Creditors meeting for Anjasmoro Maritime and affiliated sister firms to be held in Oct

 

Photo credit: Benjamin-child
Published: 14 February, 2025

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