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MoU

MOL and Pyxis to develop and market electric vessels in Singapore and Japan

‘We are honoured to partner with MOL, a global leader in the shipping industry,’ replied Tommy Phun, Founder of Singapore-based maritime electrification startup Pyxis Maritime.

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MOL x PYXIS

Mitsui O.S.K. Lines, Ltd. (MOL) and Singapore-based maritime electrification startup Pyxis Maritime Pte Ltd. (Pyxis) on Wednesday (1 November) signed a Memorandum of Understanding (MoU) to collaborate on the joint development and marketing of the electric vessels (EVs) business in the Singapore region, as well as marketing for the expansion of EVs introduction in Japan.

The agreement will harness MOL's maritime expertise, market networks and industry knowledge as a shipping company while leveraging on Pyxis’ agility and fast execution as start-up company.

Through this cooperative relationship, the two companies plan to engage the industry and their respective stakeholders, interweave their knowledge, and implement strategic initiatives for decarbonization while closely monitoring the adoption of environmental regulations.

“I am pleased to conclude the MOU with Pyxis, which is committed to the introduction and expansion of EV vessels in Singapore. We believe this memorandum will be an important step for both companies to make a significant change in the shipping industry,” said Nobuo Shiotsu, Senior Managing Executive Officer of MOL.

“Promoting the introduction of EV vessels to solve environmental issues will be one way. We believe cooperation with partners who has same ambition and trustworthy is essential to achieve that.”

“We are honoured to partner with MOL, a global leader in the shipping industry,” replied Tommy Phun, Pyxis Founder.

“With the sustainability movement disrupting maritime businesses, efforts to decarbonize have become necessary to stay competitive. Our mission is to ease and boost mass adoption of EVs in the region. Together with MOL, we are confident in expanding our outreach into Japan which is one of our key markets.”

Manifold Times in August reported Pyxis entering a MOU with fuel cell components manufacturer Sydrogen Energy to jointly execute a Proof of Concept (PoC) study in the deployment of hydrogen fuel cell solutions. 

Related: Singapore: Pyxis, Sydrogen to deploy hydrogen fuel solutions including harbour craft electrification

Photo credit: Mitsui O.S.K. Lines, Ltd.
Published: 6 November 2023

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Methanol

India’s first bio-methanol bunker barge to be part of new bunkering facility project

Construction of the bunker barge is part of a MoU between Bapu’s Shipping Jamnagar and Deendayal Port Authority to develop a methanol bunkering facility at Kandla.

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India’s first bio-methanol bunker barge to be part of new bunkering facility project

India’s shipping company Bapu’s Shipping Jamnagar on Sunday (9 February) announced it has signed a Memorandum of Understanding (MoU) with Deendayal Port Authority on 8 February to develop a methanol bunkering facility at Kandla. 

The firm said the construction of India’s first bio-methanol bunker barge will be a key part of this initiative to cater to the growing requirement for sustainable maritime fuel. 

“India’s first methanol bunker barge will be constructed at Deendayal Port, marking a significant step in accelerating green shipping and decarbonisation,” said Bhupendra Sinh Jadeja, Managing Director of Bapu’s Shipping. 

“With global ports like Shanghai, Ulsan, Singapore, and Rotterdam advancing methanol bunkering, India is stepping up! Deendayal Port Authority has committed to providing necessary infrastructure support to fast-track the bunker supply chain.”

“We are honoured to be their channel partner in this transformative journey.”

 

Photo credit: Bapu’s Shipping Jamnagar
Published: 12 February, 2025

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Bunker Fuel

Paria Fuel Trading and Petrojam enter VLSFO bunker fuel supply agreement

Preliminary arrangement with Petrojam encompasses a six-month contract for VLSFO with a maximum total volume of 540,000 barrels at a cost of USD 50.2 million.

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Trinidad and Tobago’s Paria Fuel Trading on Monday (3 February) announced it has entered into a preliminary agreement to purchase bunker fuel from Jamaica-based refiner Petrojam.

The preliminary arrangement with Petrojam encompasses a six-month contract for Very Low Sulphur Fuel Oil (VLSFO) with a maximum total volume of 540,000 barrels at an approximate cost of USD 50.2 million, determined by prevailing international pricing.

Paria received its inaugural shipment from Petrojam on 1 February, amounting to approximately 50,000 barrels.

“Part of the arrangement with Petrojam is to secure a market for its fuel oil, while providing Paria with an opportunity to supply clean fuel to the Jamaican market,” Paria said on its website. 

“Additionally, this endeavour aims to promote CARICOM trade, though it represents a relatively modest portion in comparison to Paria’s total sales volume of approximately 17.1 million barrels per annum.”

“Confidential negotiations are ongoing with Petrojam, and Paria will continue to seek opportunities for not only its own continued profitability, but for the benefit of the citizens of Trinidad and Tobago, and the region.”

The agreement comes following Paria exploring with relevant parties in the petroleum industry the need for bunkering of petroleum products.

Paria said it has a number of international suppliers for refined products, which did not include Petrojam Limited out of Jamaica. 

“However, an opportunity was identified for Petrojam to be a partner for the bunkering of marine fuels.It is important to note that this marine fuel is not designated for the Trinidad and Tobago market, it is exclusively for bunkering operations, with sales to international marine operators including cruise and container ships, and other international marine vessels,” the company explained. 

Related: State agencies to position Trinidad and Tobago as low-carbon bunkering hub

 

Photo credit: Scott Graham on Unsplash
Published: 5 February, 2025

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Alternative Fuels

DNV, partners to develop new standards for using digital twins to test electric propulsion systems

Collaboration with HD Hyundai Mipo and HD KSOE focuses on developing standards for testing electric powered vessels through the use of digital twin-based criteria and procedures.

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DNV, partners to develop new standards for using digital twins to test electric propulsion systems

Classification society DNV on Friday (24 January) signed a Memorandum of Understanding (MoU) with HD Hyundai Mipo (HMD) and HD Korea Shipbuilding & Offshore Engineering (KSOE). 

The collaboration focuses on developing standards for testing electric powered vessels through the use of digital twin-based criteria and procedures, to enhance ship safety and efficiency.

The project aims to resolve issues related to the integration of highly complex vessel systems for electric propulsion. 

Utilising hardware in the loop (HiL) testing via digital twins of the different systems enables integration tests to be performed both earlier in the process on a much broader and deeper level.

To ensure the accuracy of the tests, however, we need to be confident in the digital assets. Together DNV, HMD and KSOE are working on the verification of these digital assets. Utilising DNV verified digital assets, will facilitate the integration process. In addition, when systems from multiple suppliers are tested together, having the same requirements and HiL test procedures ensures the reliability of the testing.

Kitae Kim, Head of Quality Management, HD Hyundai Mipo, said: “Through this technical collaboration we aim to establish clear and practical digital twin-based testing procedures and standards. These can foster broader industry participation and ensure the reliability of results. In doing so, we hope to safeguard the performance and safety of ship systems and lead in building a digital twin ecosystem for the shipbuilding industry.”

Byoung Hun Kwon, Head of the Electrification Center/Digital Technology Research Lab, at HD KSOE, said: “We have proactively developed and implemented digital twin technology, including HiL, to safeguard the performance and quality of vessels, achieving world-class advancements in virtual commissioning technology. This collaboration marks a pivotal milestone, uniting HD Hyundai Mipo, HD KSOE, and DNV to drive digital innovation in the shipbuilding and marine industry.”

Andreas Kristoffersen, Head of Approval Centre Korea and DNV Maritime, said: "This MoU highlights HMD, KSOE and DNV’s commitment to driving digitalization in the maritime industry. By adopting digital twin-based testing for complex systems, we are working together to shape the future of maritime operations and set new industry standards for safety and performance."

The project will also focus on maintaining the digital assets throughout the life-cycle of the vessel to maximize their value over the long-term. With verified assets, component models could also be used in a “plug-and-play” manner as different systems are introduced into the simulation space or updated over time.

This initiative sets out to build a foundation for leveraging class-verified digital assets to support more comprehensive and earlier HiL testing. It aligns with DNV’s Data-driven Verification (DDV) notation, which has been developed to ensure reliable performance of complex systems.

 

Photo credit: DNV
Published: 24 January, 2025

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