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

2 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

Biofuel

Argus Media: Bunkering sector needs deeper dive into B24 bio bunker fuel market

‘As we advance into 2025, the need to understand how B24 matures in terms of market fundamentals, pricing and dynamics will be a key indicator for the marine sector,’ says Mahua Chakravarty of Argus.

Published

18 hours ago

October 4, 2024

Admin

Argus Media organises free admission ‘Argus Asia B24 Forum’ for bunkering sector

Ahead of Argus Asia B24 Forum, Manifold Times interviewed Mahua Chakravarty, Head of Marine Fuels Pricing (Asia) of independent global energy and commodity market intelligence provider Argus Media; she explains the growing prominence of B24 bunker fuel in the marine sector and believes it is imperative for the bunkering sector to deepen its knowledge on it:

MT: Why is it important for the bunkering sector to know more about the B24 bunker fuel market?

B24 has emerged as the first alternative marine fuel that allows ship-owners and charterers a drop-in fuel option, and make greenhouse gas (GHG) savings, for their voyages into EU and territorial waters.

It has proved to be the most practical solution for ship-owners that eliminates costly retrofitting charges. The easy availability of used cooking oil methyl ester (UCOME) as a blendstock from China and southeast Asia, also adds to its overall attractiveness as an alternative fuel.

B24 consumption in the port of Singapore recorded multi-fold jumps to touch 518,000t in 2023 as ship-owners fuelled for trials in preparation for the implementation of EU-led mandates like the EU Emissions Trading Scheme (ETS) and the Carbon Intensity Index (CII) rating. In 2024, B24 demand has continued to grow with 377,800t of consumption seen up to August, according to statistics from the Maritime and Port Authority of Singapore (MPA).

As we advance into 2025, the need to understand how B24 matures in terms of market fundamentals, pricing and dynamics will be a key indicator for the marine sector. Being the first generation of new marine fuels, B24 has shown the way that biofuel blends can provide a solution for ship-owners/charterers to meet compliance mandates set by the EU and IMO.

MT: Why has Argus developed its own B24 Singapore price index? What's so special about it and why should the industry adopt it as a benchmark?

Argus was the first to launch its spot B24 delivered on board (DOB) Singapore assessment in January 2023, thus introducing price discovery for this market at its point of inception. The past 1.5 years of daily price assessments of B24, using a robust market survey approach, has built Argus’ understanding of this market from the start.

We have seen the growth of liquidity and the quest among refiners, traders, ship-owners to find pricing solutions for a nascent market. We have been at the forefront of capturing spot liquidity growth and in assessing prices for this market.

This index is now considered a key price assessment by key refiners, traders, ship-owners and other stakeholders in the market.

MT: What takeaways can each segment of the bunkering sector such as bunker buyers, bunker traders, and shipowners receive from the upcoming Argus B24 forum?

The Argus B24 Asia Forum is aimed at showcasing some of these learnings by a global team that covers key markets like Singapore, China and Europe. Our global team will present their insights on the key trends driving demand for marine biodiesel globally.

As the marine sector marches onwards with the bunkering of higher biofuel blends, this forum will allow the audience to reflect on the key factors that have driven the marine biodiesel sector. It will provide insights to make better decisions about infrastructure, pricing, feedstock-related issues and what blends are likely to be prevalent in the coming year.

We will be hosting a panel discussion at this forum that will include key players driving the marine biodiesel space in Singapore and other regions.

The Argus Asia B24 Forum will be held in The Village Hotel (The Events Centre by Far East Hospitality), Sentosa, Singapore (Google Maps) on 8 October between 4.00pm to 7.00pm Singapore Time.

Participants are encouraged to register for the free event via the custom link here.

Photo credit: Argus Media
Published: 4 October 2024

Bunker Fuel

Brazil: Raízen launches new bunkering operation in Itaqui

Operation will support both coastal and oceangoing vessels at Off Port Limits, allowing the firm’s customers to avoid full port call fees and unnecessary deviations, says Paula Georgopoulos Tinoco.

Published

18 hours ago

October 4, 2024

Admin

Brazil: Raízen launches new bunkering operation in Itaqui

Brazilian energy firm Raízen has launched its new bunkering operation in Itaqui at the Outer Anchorage Area, according to Paula Georgopoulos Tinoco, Bunker Sales Coordinator at Raízen on Wednesday (3 October).

The firm is providing local supplies for the grades VLSFO380 (max. 0.5%S) and LSMGO DMA (max. 0.1%S).

“The new bunkering operation will support both coastal and oceangoing vessels with different sizes and class at the Off Port Limits, allowing our customers to avoid full port call fees and unnecessary deviations at different bunkering ports,” she said in a social media post.

In September last year, Bunker Holding subsidiary Bunker One announced that it partnered with Acelen, the largest bunker producer in the Brazilian state of Bahia, to offer the only outer anchorage bunkering operation in Brazil at the time.

Starting September 2023, vessels such as large cargo ships and tankers can be supplied in the anchorage area of the Port of Itaqui in São Marcos Bay (MA).

Photo credit: Raízen
Published: 4 October, 2024

Business

Rahim Oberholtzer named as new Infineum Chief Financial and Strategy Officer

Oberholtzer, a finance executive with over 25 years of experience, joins Infineum from Shell, where he has held various senior positions including Senior Vice President of Shell Finance for Chemicals and Products.

Published

19 hours ago

October 4, 2024

Admin

Rahim Oberholtzer named as new Infineum Chief Financial and Strategy Officer

International fuel additives company Infineum on Thursday (3 October) announced the appointment of Mr. Rahim Oberholtzer as the new Chief Financial and Strategy Officer, effective 1 October.

Oberholtzer will succeed Mr. Philippe Creteur, who has retired at the end of September 2024, after 18 years of dedicated service to Infineum.

Oberholtzer, a seasoned finance executive with over 25 years of diverse experience, joins Infineum from Shell, where he has held various senior positions. His most recent role was Senior Vice President of Shell Finance for Chemicals and Products.

During his career, Oberholtzer has acquired extensive expertise in public accounting, investment banking, and trading. He began his professional journey at KPMG in San Francisco as an auditor. He then moved on to Merrill Lynch, focusing on mergers and acquisitions and equity offerings within the energy sector, ultimately serving as Head of Structured Finance at Merrill Lynch Commodities.

In 2011, he joined Shell’s Mergers and Acquisitions team in the U.S., leading key projects such as the launch of Shell Midstream Partners and the Eagle Ford divestment. He subsequently managed finance teams in Trading & Supply, covering European Gas & Power, Global Crude, and Global Products & Operations.

Infineum CEO Aldo Govi, said: “We are deeply grateful for Philippe’s years of dedication and excellent contribution to Infineum. At the same time, I am thrilled to welcome Rahim to our corporate leadership team.”

Photo credit: Infineum
Published: 4 October, 2024