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Propeller Fuels receives eight-figure funding from HSBC for Scandinavia and Asia expansion

‘HSBC UK, as our banking partner of choice, has been supportive of our plans and this funding supports our business and its future growth plans,’ says PFL CFO.

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19.05.08 UP Agate MT

Propeller Fuels Limited (PFL), the UK-based physical supplier and global bunker trader, on Thursday (17 March) said it has successfully extended a funding application of over eight figures with their banking partners HSBC UK, effectively doubling their funding facility.

PFL started trading late 2017 as a physical supplier in most UK ports, with particular emphasis on the UK eastern Seaboard. Operating primarily using the storage and extensive delivery assets of partner and corporate shareholder Your NRG (previously Oil NRG), PFL quickly grew to become a key UK supplier by RTW, with the focus being on Marine Gasoil.

In 2019, PFL branched out into international trading, with the recruitment of several experienced traders into the UK office supporting this initiative. This activity was supported by a finance facility provided by the company’s banking partners, HSBC UK. This initial facility provided the capacity for Propeller Fuels to grow its business and service a larger global market.

Further expansion occurred in late 2020 when PFL opened its first overseas office in Athens, Greece. Being home to the world’s largest contingent of shipowners, PFL sought to capitalise on this location with the recruitment of local experienced traders.

The Greece office is now well established and has been further bolstered by the addition of 2 commercial staff in recent months, as well as a credit analyst. The company is now well positioned for further growth and is looking to recruit more traders with international experience.

To allow the company to be adequately resourced for the next phase in its expansion into Scandinavia and Asia, Propeller Fuels engaged with its banking partner HSBC UK seeking to double its financing facility and were delighted to receive the approval and full backing of HSBC UK for the facility increase.

PFL Chief Financial Officer, Russell Burns, said: “HSBC UK, as our banking partner of choice, has been supportive of our plans and this funding supports our business and its future growth plans. Our diligent and cautious approach to trading with a strong emphasis on prudence and compliance is reflected in HSBC UK’s continued support of the business. We truly have enjoyed a first-class working relationship with HSBC UK, and it fully understands our business and the ambitions that we harbour.”

Propeller Fuels Managing Director, Robert Thompson, said: “I echo the words of Russell, and thank our relationship team at HSBC UK for their supportive and pragmatic approach. It allows us to focus on expansion and growth with confidence that they are supportive of our aspirations. We are well set now for the next chapter, and we will waste no time in continuing to execute on our business plan, which will involve expansion to other locations as well as other developments, which will be made public in due course.”

Stuart Henry, Relationship Director at HSBC UK, said: “We’re delighted to be able to support Propeller Fuels’ growth into new international markets. It’s brilliant to see the business show a genuine commitment to using local traders whilst it focuses on expanding into new territories, and we’re excited to see the company go from strength to strength.”

19.05.22 Prospector 5 MT

 

Photo credit: Propeller Fuels
Published: 18 March, 2022

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China: Yangpu records 27% on year increase in bunkering volumes from Jan to May

Latest bunker supplier at Yangpu port is Hainan Luhai Energy which received a license from the Danzhou Municipal People’s Government in April 2025.

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The Port of Yangpu located in Hainan Island recorded a 27% on year increase in bonded bunkering volume for the period between January to May 2025 due to local government initiatives, according to Danzhou Municipal People’s Government on 5 July.

During the five-month period, the port supplied 149,400 metric tonnes (mt) of bunker fuel to 288 international vessels, compared to 117,400 mt of marine fuel to 278 ships in the year before.

Explaining the 2025 figures, the government pointed out 145,400 mt of bonded bunker fuel to 275 vessels were delivered by bunkering firms under national licenses, while 4,000 mt of bonded marine fuel were sent by bunkering companies under Hainan licenses.

To date, there are four bunker suppliers operating at Yangpu port. The latest to join is Luhai Energy Technology Development (Hainan) Co., Ltd (陆海能源科技发展(海南)有限公司) which received a license from the Danzhou Municipal People’s Government in April 2025.

“In the future, we will continue to work hard to continuously optimise the bonded oil refuelling service system, increase policy publicity and promotion efforts, attract more bonded oil refuelling companies to settle in Yangpu, and continuously expand the scale of business, and promote the implementation of the bonded oil refuelling policy,” stated Li Leiming, a mid-level employee of the Yangpu Investment Promotion Bureau.

 

Photo credit: Chuanhaozi under Creative Commons Licences
Published: 14 July 2025

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Singapore retains ranking as world’s top maritime centre for 12th consecutive year

Finds report jointly published by the Baltic Exchange and China’s Xinhua News Agency.

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Singapore bunker tankers and sky

Singapore on Friday (11 July) said it has retained its ranking as the world’s top maritime centre, marking the 12th consecutive year it has led the Xinhua-Baltic International Shipping Centre Development (ISCD) Index.

Jointly published by the Baltic Exchange and China’s Xinhua News Agency, the Xinhua-Baltic ISCD Index provides an independent benchmarking of the world’s leading maritime hubs.

It evaluates factors such as cargo throughput, port infrastructure, maritime services (including finance, law and shipbroking), and the overall business environment.

The index is closely monitored by shipping lines, port investors, and maritime service providers to track market competitiveness, and inform investment location and service development decisions.

Singapore retained its top position among 43 maritime cities and regions, underpinned by its consistent performance as one of the world’s busiest transhipment and bunkering hubs, and a well-established ecosystem of professional maritime services and expertise.

In 2024, Singapore handled 41.12 million twenty-foot equivalent units (TEUs) in container throughput – a record high – and saw total vessel arrival tonnage exceed 3 billion gross tons. The Port of Singapore also remains the world’s largest bunkering port, having supplied 54.92 million tonnes of marine fuel in 2024.

Home to more than 200 international shipping groups and a growing number of maritime technology start-ups, Singapore continues to strengthen its position as a global node for maritime innovation and enterprise.

This growing industry base is also creating new career pathways in areas such as port operations, digital systems management, automation, maritime law, and sustainability – as the sector transforms to meet the needs of a more digital and decarbonised future.

“We thank our industry partners, the research and enterprise community, and our unions who have been instrumental in Singapore’s journey to become a leading international maritime centre and global hub port,” said Ang Wee Keong, Chief Executive of the Maritime and Port Authority of Singapore.

“We will continue to build on this momentum by innovating and investing in digitalisation, green technologies, and workforce development to strengthen Singapore’s position as a trusted and future-ready international maritime centre.”

 

Photo credit: Manifold Times
Published: 14 July 2025

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“LNG London” marks 1,000 safe LNG bunkering ops in Rotterdam and Antwerp

Milestone is a tribute to the technical expertise and steadfast dedication of LNG London’s team, states Victrol.

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The LNG London, a liquefied natural gas (LNG) bunkering vessel chartered by Shell, owned by LNG Shipping, and operated by Victrol recently completed over 1,000 safe LNG bunkering operations across the ports of Rotterdam and Antwerp.

“This landmark achievement underscores LNG London’s unwavering commitment to safety, reliability, and environmental stewardship as LNG rises to prominence as a lower-emission marine fuel compared to conventional fuel oil,” stated Victrol on Friday (11 July) over a LinkedIn update.

“With this milestone, LNG London reaffirms its pioneering role in promoting sustainable, lower-emission bunkering throughout the Amsterdam–Rotterdam–Antwerp (ARA) hub.”

Launched in June 2019, LNG London has a capacity of 3,000 m³, spans 110 m in length, and navigates inland waterways with ease—facilitating efficient LNG supply to both seagoing vessels and barges offshore-energy.

Victrol as the vessel’s operator, emphasises the outstanding performance of the crew and the vessel’s robust design. Built with stringent safety specifications, LNG London strives to maintain high operational standards. This milestone is a tribute to the team’s technical expertise and steadfast dedication.

Building on the good work of LNG London, Shell had also enhanced its bunkering network with the larger Energy Stockholm, an 8,000 m³ bunker vessel, now operating in Antwerp, Rotterdam, Zeebrugge, and Amsterdam.

Related: Europe: ‘LNG London’ bunkering vessel starts operations at Rotterdam
Related: “LNG London” conducts first ship-to-ship LNG bunkering operation at Rotterdam
Related: Bureau Veritas classifies Europe’s largest inland waterway LNG bunker barge
Related: Europe’s largest LNG bunkering barge on maiden voyage to ARA
Related: Shell takes delivery of Europe’s largest inland LNG bunkering vessel

 

Photo credit: Victrol
Published: 14 July 2025

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