Connect with us

Business

MPA and partners establish Global Centre for Maritime Decarbonisation

GCMD set up by MPA, BHP, BW Group, Eastern Pacific Shipping, Foundation Det Norske Veritas, Ocean Network Express and Sembcorp Marine,

Admin

Published

on

maritime

The Maritime Ports Authority of Singapore (MPA) on Thursday (29 July) announced the formation of Global Centre for Maritime Decarbonisation (GCMD) in Singapore and its leadership team with effect from 1 August 2021. 

Set up with a S$120 million fund from MPA and six founding partners namely BHP, BW Group, Eastern Pacific Shipping, Foundation Det Norske Veritas, Ocean Network Express and Sembcorp Marine, the centre will spearhead the maritime industry’s energy transition journey. 

GCMD aims to collaborate with the industry to help the maritime sector reduce greenhouse gas (GHG) emissions, implement identified decarbonisation pathways and create new business opportunities. The set-up of a decarbonisation centre was first announced during the Singapore Maritime Week in April 2021, as one of the recommendations in the International Advisory Panel for Maritime Decarbonisation’s report submitted to the Singapore Government.

Collaborations in maritime decarbonisation gaining momentum 

As part of GCMD’s ongoing efforts to explore joint industry projects that advance the deployment of low- and zero-carbon maritime solutions, 31 organisations ranging from shipping companies, classification societies, research centres, traders, energy players, terminal and tank operators, engineering companies, financial institutions to industry associations have expressed interest to collaborate with GCMD. GCMD will be working with these organisations to establish strong partnership and initiatives as part of its objective to deliver value to the industry globally.

Please refer to Annex A for the full list of organisations who have indicated their expressions of interest to explore collaborations with GCMD

GCMD to be headed by international experts on clean energy transition and emerging solar technologies

Prof Lynn Loo will be appointed Chief Executive Officer. She will be responsible for working with GCMD’s Governing Board to develop and execute the overall strategy for the new centre. She will also take the lead in building partnerships with the maritime industry, government agencies, international bodies and other regional and international maritime decarbonisation centres. 

Lynn is currently the Director of the Andlinger Center for Energy and the Environment at Princeton University. 

Under her leadership, the Andlinger Center released the Net-Zero America Study that laid out technological pathways by which the U.S. can stop contributing to a build-up of greenhouse gases in the atmosphere by 2050. She is also known for her development of a transparent solar cell technology to wirelessly power “smart” windows that can decrease building energy use while increasing occupant comfort. She will continue to hold her position as the Theodora D. ’78 and William H. Walton III ’74 Professor in Engineering and professor of chemical and biological engineering while on leave from Princeton.

Dr Sanjay Chittarajan Kuttan will be appointed Chief Technology Officer to lead technology and research development and pilot trials initiated by the centre.  He will also be involved in standards development of future marine fuels, as well as strengthening the linkages with local research institutes and international decarbonisation centres to advance maritime decarbonisation efforts. Sanjay is currently the Executive Director of the Singapore Maritime Institute (SMI) and is responsible for building deeper Research and Development (R&D) capabilities within the local maritime R&D community and funding key maritime research projects with industry. 

Please refer to Annex B for bios of Prof Lynn Loo and Dr Sanjay Chittarajan Kuttan

GCMD Governing Board to comprise representatives from the industry and public sector; Mr Andreas Sohmen-Pao appointed Chairman

GCMD’s leadership team will be supported by a Governing Board, who will work with the team to define the strategic direction of GCMD. Mr Andreas Sohmen-Pao, Chairman of BW Group and the Singapore Maritime Foundation, will be appointed Chairman of GCMD’s Governing Board. The Governing Board is made up of eight other members who have deep industry networks to help grow GCMD into a leading centre of excellence for maritime decarbonisation. They are:

maritime

Future Developments

In partnership with the industry, GCMD will facilitate decarbonisation technology development and test-bedding, including future marine fuel trials with the industry and research communities in Singapore. To this end, MPA is looking at developing waterfront facilities to support these activities. MPA is working with relevant agencies to study the viability of locating GCMD along with other maritime developments at Marina South.

Mr Chee Hong Tat, Senior Minister of State for Transport, said, “The Global Centre for Maritime Decarbonisation has garnered much interest from industry stakeholders. This strong support is important for developing commercially viable solutions for sustainable shipping.  As a hub port and international maritime centre, Singapore will contribute to this shared vision by growing a vibrant ecosystem for maritime decarbonisation research, technology development and solution deployment.The Centre’s work will involve going into new areas and uncharted waters, we are grateful to our partners for sailing this journey together with us.”

Mr Andreas Sohmen-Pao, Chairman, Governing Board of GCMD, said, “Decarbonisation is a global challenge, and our industry has to play its part.  The challenge is too large for any one company to solve, so collaboration is essential. This centre will build on the positive steps taken by many maritime players around the world, and Singapore’s position as a leading maritime centre, to help the industry transition to a low-carbon future.”

Prof Lynn Loo, Chief Executive Officer, GCMD, said, “I am honoured and excited to lead GCMD. Contributing 3% of global carbon emissions annually, shipping is one of the hardest-to-abate sectors. GCMD offers a huge opportunity to make significant inroads on the sector’s decarbonisation agenda. Starting in Singapore, our work will carry us widely across the globe, rigorously testing promising solutions with a simple goal of taking tangible next steps to help the maritime sector navigate the energy transition.”

Related: SMW 2021: MPA, BW Group, Sembmarine, EPS, ONE, DNV, BHP decarbonisation efforts recognised
Related: SMW 2021: MPA & Partners ink SGD 120 million fund to establish maritime decarbonisation centre
Related: SMW 2021: IAP submits maritime decarbonisation recommendations to Singapore Government

 

Photo credit: Manifold Times
Published: 30 July, 2021

Continue Reading

Bunker Fuel

TMD Energy becomes first Malaysian bunker supplier to list on NYSE American

Straits Energy Resources’ subsidiary announces that its shares have been listed on 21 April, becoming the first Malaysian marine bunker supplier to achieve a listing on a major US exchange.

Admin

Published

on

By

TMD Energy logo

TMD Energy Limited (TMD Energy), a Malaysia and Singapore-based provider of integrated marine bunkering services and a Straits Energy Resources Berhad (SER) subsidiary, on Tuesday (22 April) announced that its shares have been listed on 21 April and began trading on the NYSE American under the ticker symbol “TMDE”.

Dato’ Sri Ron Ho Kam Choy, Chairman, Executive Director, and Chief Executive Officer of TMD Energy, said: “We are proud to become the first Malaysian marine bunker supplier to achieve a listing on a major US exchange, reinforcing our position as one of the industry’s leading players.

“Leveraging Malaysia’s strategic location along major shipping routes including the Straits of Malacca and the South China Sea, as well as resilient demand for bunker fuel in the region and globally, we are well positioned for further expansion. On top of that, TMD Energy is also the first Malaysian company to list on the NYSE American.

“Our listing in NYSE American will help us to enhance our international profile, expand our reach, capture new markets, and deliver sustainable, higher returns to our shareholders.”

TMD Energy’s share price opened at USD 3.26 on Monday, rising to an all-time high of USD 4.12 on its market debut before closing at USD 3.63, which was 11.69% higher than its initial public offering (IPO) price of USD 3.25 per share. This gave the company a market capitalisation of USD 83.85 million (equivalent to approximately MYR 367.2 million) on its first day as a publicly listed company.

TMD Energy’s IPO was priced at USD 3.25 per share, and total gross proceeds (excluding the over-allotments) before deducting underwriting discounts and other related expenses were approximately USD 10.08 million (equivalent to approximately MYR 44.13 million). 

Proceeds from the IPO will be used for the purchase of cargo oil; defraying listing expenses; and working capital and other general corporate purposes.

The company has granted the underwriter a 45-day option to purchase up to an aggregate of 465,000 additional shares to cover over-allotments at the IPO price, If the underwriter exercises their option to purchase the additional shares in full, the total gross proceeds before deducting underwriting discounts and other related expenses from the offering are expected to be approximately USD 11.59 million.

Dato’ David Yoong Leong Yan, Executive Director of TMD Energy, said: “Our debut on the NYSE American is a key milestone in our journey of growth. While continuing to drive strong organic growth, as part of our strategic growth initiatives, we remain focused on identifying and pursuing strategic mergers and acquisition opportunities that align with our long- term vision and strengthen our regional presence.”

Manifold Times previously reported SER announcing its proposal to list its oil bunkering segment via the listing and quotation of the ordinary shares in its 76.68%-owned subsidiary, TMD Energy, on the New York Stock Exchange American (NYSE American).

TMD Energy and its subsidiaries (TMD Energy Group) are mainly involved in marine fuel bunkering services specialising in the supply and marketing of marine gas oil and marine fuel oil to various types of ships and vessels at sea. In addition, the company provides vessel chartering services and vessel management services.

TMD Energy Group operates in 19 ports across Malaysia, with a fleet of 15 well-maintained bunkering vessels with capacities ranging from 540 dwt to 7,820 dwt, of which nine are double-bottom and double-hull vessels with an average cargo-carrying capacity of 4,200 dwt each. Its customers include ship owners and operators, shipping lines, logistics and freight companies, as well as oil and gas traders or brokers. 

TMD Energy’s growth strategy includes expanding its market presence across Southeast Asia, growing its bunkering fleet, providing ship management services to external customers and diversifying its fuel offering to include eco-friendly alternative fuels such as biodiesel.

TMD Energy is part of SER, a Fortune Southeast Asia 500 company listed on the ACE Market of Bursa Malaysia Securities. 

Related: Malaysia: Straits Energy plans to list subsidiary TMD Energy on NYSE American

 

Photo credit: TMD Energy
Published: 22 April, 2025

Continue Reading

LNG Bunkering

New MOL vessel to be supplied LNG bunker fuel in Japan before voyage to Australia

After departing from Saijo Shipyard, LNG fuel will be supplied directly to “Verde Heraldo” through shore-to-ship bunkering at Senboku Terminal of Osaka Gas, and is then scheduled to sail for Australia.

Admin

Published

on

By

New MOL vessel to be supplied LNG bunker fuel in Japan before voyage to Australia

Mitsui OSK Lines (MOL) on Friday (18 April) said the naming and delivery ceremony for the LNG-fuelled Capesize bulker, which MOL ordered for JFE Steel Corporation, was held at the Saijo Shipyard of Imabari Shipbuilding. 

The vessel was named the Verde Heraldo, which means “Green Pioneer” in Spanish, by JFE Steel President and CEO Masayuki Hirose. MOL executives including President & CEO Hashimoto were also on hand for the ceremony.

After departing from Saijo Shipyard, LNG fuel will be supplied directly to the vessel through shore-to-ship bunkering at the Senboku Terminal of Osaka Gas, and is then scheduled to sail for Australia.

The Verde Heraldo will sail under long-term transport contracts to supply raw materials for JFE Steel's mills, providing both reduced environmental impact and safe and reliable marine transport services.

About Verde Heraldo

LOA: 299.99 m
Breadth: 50.00 m
Draft: 18.436 m
Deadweight tonnage: 210,321 tonnes
Shipyards: Imabari Shipbuilding and Nihon Shipyard 

 

Photo credit: Mitsui OSK Lines
Published: 22 April, 2025

Continue Reading

Business

ENGINE: Adverse weather keeps bunker operations suspended in Zhoushan’s OPL area

Bunker deliveries at Zhoushan’s Tiaozhoumen and Xiazhimen outer anchorages have been suspended due to rough weather; some suppliers expect to fully resume operations in OPL area by 22 April.

Admin

Published

on

By

Zhoushan Port Anchorage

Bunker deliveries at Zhoushan’s Tiaozhoumen and Xiazhimen outer anchorages have been suspended since Saturday due to rough weather, according to a source on Monday (21 April). 

However, bunker operations have resumed this morning at Zhoushan’s more sheltered Xiushandong anchorage and the inner anchorage of Mazhi.

The port is currently experiencing strong wind gusts of 24–27 knots and swells approaching one meter.

Several suppliers expect to fully resume bunkering operations in the OPL area by tomorrow (22 April), the source said.

By Tuhin Roy

 

Photo credit: Manifold Times
Published: 22 April, 2025

Continue Reading
Advertisement
  • Aderco Manifold Website Advert EN
  • Consort advertisement v2
  • EMF banner 400x330 slogan
  • v4Helmsman Gif Banner 01
  • RE 05 Lighthouse GIF
  • SBF2
  • Sea Trader & Sea Splendor
  • Zhoushan Bunker

OUR INDUSTRY PARTNERS

  • HL 2022 adv v1
  • Singfar advertisement final
  • Triton Bunkering advertisement v2
  • MFT 25 01 E Marine Logo Animation
  • SEAOIL 3+5 GIF


  • NW Logo advertisement
  • Trillion Energy
  • PSP Marine logo
  • Central Star logo
  • Innospec logo v6
  • Victory Logo
  • Mokara Final
  • Cathay Marine Fuel Oil Trading logo
  • metcore
  • Synergy Asia Bunkering logo MT
  • Advert Shipping Manifold resized1
  • VPS 2021 advertisement
  • LabTechnic

Trending