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KPI OceanConnect earnings surge more than three-fold in FY2022/2023

Growth in both market share and profit was strongly supported by Bunker Holding’s key account management unit BOGA and KPI OceanConnect joining forces in 2022.

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Anders Gronborg

Marine energy solutions provider KPI OceanConnect on Tuesday (18 July) has announced its results for the financial year 2022/2023 with earnings before tax increasing from USD 15.4 million the previous year to USD 49 million and revenue jumping from USD 2.94 billion to USD 5.87 billion.

KPI OceanConnect also saw an increase in volume of 50%.  

Growth in both market share and profit was strongly supported by Bunker Holding’s key account management unit BOGA and KPI OceanConnect joining forces and operating under the name KPI OceanConnect in 2022. 

The appointment of CEO Anders Grønborg further strengthened the company’s focus on its unique partnership approach, digitalisation and value-adding services, especially within the green offering.

Anders Grønborg, said: “The robust results for the year demonstrate KPI OceanConnect’s position as a preferred partner for the shipping industry during a period of uncertainty and market volatility. It is also an expression of KPI OceanConnect’s commitment to providing innovative solutions, transparency and added value to our partners.”

KPI OceanConnect made significant strides in its digitalisation drive during the year, closing around a fifth of its revenue through its AuctionConnect platform and successfully completing the first digital marine fuels deal outside Singaporean waters on SGTraDex, a digital marine fuels trading platform.

The recently announced partnership with Deloitte and ZTLment to ensure carbon credit integrity and transparency in the shipping value chain using blockchain technology further emphasises KPI OceanConnect’s commitment to innovation.

Anders added: “Looking ahead as the shipping industry continues to transform, KPI OceanConnect is well positioned to lead the way as it remains a financially strong and innovative counterpart, offering expertise, resources and global capabilities, as well as counsel clients on all aspects of the marine fuels supply and value chain. Beyond financial performance, the company’s wide range of ESG initiatives and especially its track record on diversity showcases its commitment to sustainability and social responsibility, fostering positive change for the whole industry.”

KPI OceanConnect continued to advocate the importance of diversity, equity, and inclusivity in the industry. Through the Women in Shipping campaign, the company aims to empower the voices of women in the sector and raise awareness of the excellent career opportunities that exist in shipping.

During the year, KPI OceanConnect invested in a series of global initiatives, including 20 weeks paid parental leave for all employees, stress and wellbeing, grandparental leave and stepped retirement.

KPI OceanConnect also continued its successful engagement of local stakeholders and communities through its “50for50” campaign, donating USD 50 for every deal for 50 days, which raised USD 110,000 for local organisations supporting environmental and social causes as selected by employees in each office.

In 2023, KPI OceanConnect launched its annual “get fuelled” talent programme, designed to provide young professionals with a structured education and skills for a successful career in the marine fuels industry. This initiative seeks not only to develop key competences and knowledge of the marine fuels supply chain, but to also to instil ethical business values while fostering a profound understanding of the sustainable solutions and the expertise needed to guide shipping through the green transition.

Related: Bunker Holding’s key account management unit BOGA and KPI OceanConnect to join forces
Related: KPI OceanConnect reports significant increase in bunker sales volume across Asia
Related: KPI OceanConnect, Deloitte and ZTLment partner on using blockchain in shipping value chain
Related: PIL and partners complete first SGTraDex digital bunker fuels deal outside Singapore waters

 

Photo credit: KPI OceanConnect
Published: 19 July, 2023

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Milestone

Singapore retains titles as Best Global Seaport and Best Seaport in Asia

Port of Singapore has been named the “Best Global Seaport” for the third consecutive year and the “Best Seaport in Asia” for the 35th time at the 2023 AFLAS Awards.

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Singapore retains titles as Best Global Seaport and Best Seaport in Asia

The Maritime and Port Authority of Singapore on Friday (29 September) said the Port of Singapore has been named the “Best Global Seaport” for the third consecutive year and the “Best Seaport in Asia” for the 35th time at the 2023 Asian Freight, Logistics and Supply Chain (AFLAS) Awards.

These accolades recognise the contributions by the Port of Singapore serving as a key node in the global supply chain, and Singapore’s leadership in driving maritime decarbonisation and transformation.

The annual AFLAS Awards is organised by freight and logistics publication, Asia Cargo News, to honour leading service providers in the supply chain community for demonstrating leadership as well as consistency in service quality, innovation, customer relationship management and reliability. Winners were determined by votes cast by readers of the publication.

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Mr Chee Hong Tat, Acting Minister for Transport and Senior Minister of State for Finance, said: “Singapore is honoured to be named the Best Global Seaport and Best Seaport in Asia. These awards are the result of the shared effort and strong collaboration between the Government, industry, unions and workers. We will continue to grow our port as an efficient, sustainable, and trusted node in global supply chains.”

Mr Teo Eng Dih, Chief Executive of MPA, said: “These awards are testament to the partnership and collaboration between Maritime and Port Authority of Singapore (MPA) with industry and international partners, the research and enterprise community, as well as unions. MPA remains committed to fostering an environment that encourages enterprise, innovation, and talent development.”

“We will continue to work with our partners to enhance Singapore’s connectivity, advance digitalisation efforts, and accelerate the decarbonisation of international shipping in line with the 2023 IMO strategy on reduction of GHG emissions from ships.”

Photo credit: Maritime and Port Authority of Singapore 
Published: 29 September, 2023

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Employment

Melvin Lum appointed as KPI OceanConnect Global Accounts Commercial Director in Singapore 

Lum will take on the position of Commercial Director from Thomas Lee who was recently promoted to Head of APAC in a management restructure within KPI OceanConnect.

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Melvin Lum appointed as KPI OceanConnect Global Account Commercial Director in Singapore

Global marine energy solutions provider KPI OceanConnect on Thursday (28 September) announced the appointment of Melvin Lum as Commercial Director for its Global Accounts team in Singapore.

Lum will take on the position of Commercial Director from Thomas Lee who was recently promoted to Head of APAC in a management restructure within KPI OceanConnect. 

The Global Accounts team is an expert unit within KPI OceanConnect, specialised in providing long-term, tailored fuel strategy solutions to a portfolio of Key Accounts on a global scale. Dedicated regional teams located in London, Houston and Singapore work seamlessly across the world and around the clock to support their clients.

Lum joined KPI OceanConnect in 2021 as Senior Key Account manager and has made a significant contribution to the development of the team and optimisation of the daily operations of the unit in Singapore. Lum has vast experience across the supply chain and previously worked with TotalEnergies, Glencore and Global Energy Group prior to joining KPI OceanConnect.

Henrik Zederkof, Head of Global Accounts at KPI OceanConnect, said: "It is always a pleasure to witness the growth of our team members, and Melvin's progression is no exception. I have full confidence in Melvin's expertise, ability to lead the unit and dedication to his team. I look forward to seeing the progress of Melvin and his team, which will undoubtedly bring significant value to our numerous partners and the wider organisation.”

"Melvin will assume a pivotal role within the Global Accounts management team, leveraging his extensive experience in supply chain management and profound insight into emerging technologies. In his new role, Melvin will further enhance our team's skill set, aligning them with our ongoing objectives of supporting our partners in their green transition and digitalisation endeavours."

Melvin Lum, Commercial Director of KPI OceanConnect Global Accounts in Singapore, said: "I am very appreciative of the support and confidence from our management team as I take on this exciting new role. I am enthusiastic to work with the team as we continue to deliver an exceptional experience to our partners and stakeholders with dedication, innovation and passion."

Photo credit: KPI OceanConnect 
Published: 29 September, 2023

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Biofuel

TotalEnergies Marine Fuels renews ISCC EU certification for bio bunker fuel  

Firm’s operations teams in Singapore and Geneva successfully renewed its ISCC EU sustainability certification for the supply of biofuel bunkers, says Louise Tricoire, Vice President.

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TotalEnergies Marine Fuels renews ISCC EU certification for bio bunker fuel

Louise Tricoire, Vice President of TotalEnergies Marine Fuels recently said the firm’s operations teams in Singapore and Geneva successfully renewed its International Sustainability and Carbon Certification (ISCC) EU sustainability certification for the supply of biofuel bunkers.

“This means that TotalEnergies Marine Fuels can continue sourcing and supplying marine biofuels in accordance with EU renewable energy regulations ensuring the highest sustainability standards,” she said in a social media. 

“It's the third year in a row that we have successfully renewed this certification, after a deep and comprehensive audit which showed zero non-conformity.”

She added marine biofuels have grown in demand among shipping companies that want to cut greenhouse gas emissions immediately. 

“TotalEnergies Marine Fuels offers marine biofuels commercially in Singapore and we are starting in Europe. This certification enables us to accompany our customers in their decarbonisation journey with the best standard solutions available today.”

Photo credit: TotalEnergies Marine Fuels
Published: 29 September, 2023

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