Business

KPI OceanConnect reports significant increase in bunker sales volume across Asia

Hong Kong and China recorded 65% and 20% higher respectively in marine fuel sales volume, as a result of fewer restrictions on bunker-only calls, says firm.

Published

3 years ago

June 29, 2022

Admin

International bunkering firm KPI OceanConnect on Tuesday (28 June) reported its fiscal performance for the financial year 2021/22 with a “significant volume increase” across Asia, with Hong Kong and China volumes 65% and 20% higher respectively.

The company said this was due to fewer restrictions on bunker-only calls.

Its overall revenue improved slightly to USD 2.94 billion, from USD 2 billion in 2020/21, maintaining its market share.

Annual earnings before tax (EBT) also increased from USD 15.1 million to USD 15.4 million.

Søren Høll, CEO at KPI OceanConnect, commented: “We are very pleased to report such solid financial results, despite the uncertainty within the market, and on the back of a global pandemic. It shows the strength of our consultative and partnership-based approach, our reputation for being a trustworthy and reliable partner, as well as the hard work of the entire global team at KPI OceanConnect.”

2021 saw many significant developments for KPI OceanConnect as the company continued to support its partners to meet the challenges of the global pandemic, accelerate the drive for decarbonisation, support the demands for increased transparency in the supply chain, and empower change through diversity and inclusivity.

Two significant milestones on the sustainability front include the successful delivery of one of the first carbon offset transactions in the bunkering sector, and the launch of a dedicated Alternative Fuels and Special Projects division led by industry expert Bill Wakeling. The new division has significantly expanded the company’s future fuels expertise and capabilities, as well as enhanced sustainability in its supply chains. The company is actively working in partnership with clients to support and guide the development of future fuels strategies that achieve net-zero emissions and meet sustainability goals.

Søren Høll continued: “As the market continues to rapidly change and becomes increasingly complex, it is clear that ship owners and operators need expert counsel founded on in-depth knowledge and insight into how the energy transition and future fuels market impact their businesses. In conjunction with our financial strength, ability to innovate, and global focus, we have the capability to ensure fuel procurement strategies help our clients meet the needs of their operations and continue to thrive as the market transforms.”

As part of its commitment to diversity and inclusivity in shipping, KPI OceanConnect launched its ‘Women in Shipping’ initiative to drive awareness of the many great career opportunities that exist in the shipping industry, and to highlight how an informed, inspired and connected workforce delivers more added value for the business and its partners.

The initiative is part of KPI OceanConnect’s journey to attract more women into the industry, driving greater gender balance and demonstrating how an inclusive, diverse and supportive organisation can deliver more innovation and dynamic thinking, which in turn stimulates effective, high performance working environments and empowers change.

Looking ahead, KPI OceanConnect remains a financially strong counterpart, and is well positioned to lead partners through the green transition by consulting on new fuels and carbon offsets – whether voluntary or mandatory - while also delivering innovative initiatives that will bring positive change to the whole industry, according to the firm.

Photo credit: KPI OceanConnect
Published: 29 June, 2022

LNG Bunkering

China: Ningbo Zhoushan Port completes first LNG bunkering operation for 2025

Bunkering vessel “Hai Yang Shi You 302” supplied more than 10,000 cubic metres of LNG bunker fuel to containership “MSC Adya” at the Ningbo-Zhoushan Port port on 5 January.

Published

3 days ago

January 10, 2025

Admin

China: Ningbo Zhoushan Port completes first LNG bunkering operation for 2025

Zhejiang Pilot Free Trade Zone Zhoushan Area on Wednesday (8 January) said Ningbo-Zhoushan Port successfully completed its first LNG bunkering operation for the year.

Bunkering vessel Hai Yang Shi You 302 supplied more than 10,000 cubic metres (m3) of LNG bunker fuel to containership MSC Adya at the port on 5 January.

Zhejiang Seaport International Trading, the bunker supplier for the operation, successfully obtained the Zhoushan Anchorage LNG bunkering licence in June 2024, extending refuelling services from dock to sea.

The company’s services cover Meishan, Chuanshan, Daxie and other port areas.

As China's first river-sea LNG transport and bunkering ship, Hai Yang Shi You is currently placed permanently at Ningbo Zhoushan Port, providing a variety of bunkering methods such as ship-to-ship and ship-to-shore.

Zhejiang Seaport International Trading will continue to expand the scope of bonded LNG bunkering operations and new alternative fuels such as green methanol, ammonia and biofuels in the Zhoushan Area.

Photo credit: Zhejiang Pilot Free Trade Zone Zhoushan Area
Published: 10 January, 2025

Business

Shandong Port Group bans US-sanctioned tankers from entering its ports

Group has prohibited ports to dock, unload or provide ship services to vessels on the Office of Foreign Control list managed by the US Department, according to a Reuters news report.

Published

3 days ago

January 10, 2025

Admin

Shandong Port Group bans US-sanctioned tankers from entering its ports

China’s Shandong Port Group has reportedly blocked tankers affected by US sanctions from entering its ports, according to an exclusive news report by Reuters on Wednesday (8 January).

Citing a notice from the port, which was issued on 6 January and shared to Reuters by traders, the Group has prohibited ports to dock, unload or provide ship services to vessels on the Office of Foreign Control list managed by the US Department.

In another notice released on 7 January, the ban came after sanctioned tanker Eliza II unloaded at Yantai Port in early January.

Shandong Port operates major ports on the east coast of China including Qingdao, Rizhao and Yantai, which are major terminals for importing sanctioned oil.

The traders said the ban could slow imports into China, the world’s largest oil importing nation, and increase shipping costs.

Photo credit: Shandong Port Group
Published: 10 January, 2025

Business

US DoD designates COSCO Shipping and CNOOC as ‘Chinese military companies’

COSCO Shipping has responded that the company and its subsidiaries ‘have consistently adhered to local laws and regulations, maintaining strict compliance in all international operations’.

Published

3 days ago

January 10, 2025

Admin

China: Cosco Shipping and bp to explore collaboration into methanol bunker fuel

The US Department of Defense (DoD) on Tuesday (7 January) has added China’s state-owned shipping company COSCO Shipping and two of its subsidiaries to its list of companies for allegedly having links to the Chinese military.

The subsidiaries are COSCO SHIPPING (North America) and COSCO SHIPPING Finance.

DoD released the update to the names of "Chinese military companies" operating directly or indirectly in the United States in accordance with the statutory requirement of Section 1260H of the National Defense Authorisation Act for Fiscal Year 2021. The Department said it will update the list with additional entities as appropriate.

Updating the Section 1260H list of "Chinese military companies" is an important continuing effort in highlighting and countering the People’s Republic of China's (PRC) Military-Civil Fusion strategy, DOD added.

The list also included other Chinese shipping-related companies such as shipbuilders China Shipbuilding Trading and China State Shipbuilding Corporation, oil company China National Offshore Oil Corporation (CNOOC), CNOOC China and CNOOC International Trading.

Shipping container manufacturer China International Marine Containers (CIMC) was also included on the list of companies.

In a response to the move, COSCO Shipping said it has noted the recent inclusion of the company and its subsidiaries to the sanctions list.

“COSCO Shipping and its subsidiaries have consistently adhered to local laws and regulations, maintaining strict compliance in all international operations,” it said on its website.

“We remain committed to facilitating global trade and providing high-quality commercial shipping and logistics services to clients worldwide, including agricultural producers, manufacturers, energy firms, retailers, and exporters in the United States.”

“We emphasise that none of the aforementioned companies are ‘Chinese military companies’. We will engage with U.S. authorities to clarify this matter. This designation does not impose sanctions or export controls, and our global operations will continue uninterrupted.”

Photo credit: COSCO Shipping
Published: 10 January, 2025