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PS Energy wins runner-up position in Singapore E50 awards, shares bunker expansion plans

Plans acquisition of additional bunker barges of between 150 dwt to 2,000 dwt capacity by end 2024; securing a waterfront site for construction of a sustainable fuels blending facility.

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Sean Chua receives E50 award

Singapore-based last mile fuel distribution company PS Energy Group, the parent of local inland, coastal, and marine bunkering units PS Energy Pte Ltd and CNC Petroleum Pte Ltd, on Tuesday (21 November) received the runner-up position at the Singapore Enterprise 50 (E50) awards.

“We are grateful for the recognition by the awards committee and would like to thank partners and our staff for making this possible,” Sean Chua, Managing Director of PS Energy, told Manifold Times.

“As we celebrate this milestone, we are taking stock of the valuable insights we gleaned from our journey thus far and leverage this knowledge to propel our growth initiatives.”

According to Chua, the bunkering sector is amongst core businesses of PS Energy. The firm, which is planning to become a producer of sustainable fuels in Singapore, will be undertaking a bunkering expansion plan for the coming year.

“We currently operate four bunker tankers namely Davina, CNC 5, Garene 1 and Garene 2 and are planning to acquire additional marine fuel delivery vessels of between 150 dwt to 2,000 dwt capacity by the end of 2024 to fulfil different distribution channels for our growing marine gas oil (MGO) delivery business,” he said.

“These smaller vessels will enable PS Energy to champion quicker deliveries and turnarounds for customers requiring prompt MGO supplies. We want to be the first name in this sphere.”

Sean Chua and team

Chua further shared PS Energy will be securing a waterfront site in 2024 and plans the construction of a sustainable fuels blending facility within the next three years.

“This High-Mix Low-Volume facility for biodiesel and renewable diesel will be designed to produce several small MGO parcels with customized treat rates such as B20, B30 for biodiesel, or between R30 to R50 for renewable diesel, that we can offer as bunker fuel to shipowners,” he explained.

“The facility will be able to assist in Singapore’s domestic harbour craft decarbonisation plans as by 2030 the Maritime and Port Authority of Singapore (MPA) aims to reduce absolute emissions from the local fleet by 15% from 2021 levels.”

Chua was keen to inform on PS Energy’s digitalisation efforts which believes will be key in helping expand the business footprint to the Philippines.

“To support our expansion efforts, we have successfully implemented a comprehensive digital platform that encompasses modules for sales, price checking, deliveries, inventories, CRM, customer support, and more. This integrated system has been deployed across our entire organization,” he explained.

“This will also be our advantage to help expand our bunkering business, especially with the introduction of electronic bunker delivery notes (e-BDN) round the corner.”

Meanwhile, this is the second time PS Energy Group clinched the E50 Awards, marking an impressive advancement. The company ascended from forty-second place last year to an outstanding second place in 2023.

The E50 Awards, first established in 1995, recognises local, privately-held companies who have contributed to economic development in Singapore and abroad.

It is jointly organised by The Business Times and KPMG, and supported by Enterprise Singapore, Singapore Business Federation and Singapore Exchange. The E50 Awards is sponsored by OCBC Bank.

Manifold Times in early October reported PS Energy introducing a fresh brand identity and a company office move to the JTC Summit in Singapore. 

Related: Singapore: PS Energy Group unveils new brand identity and moves to a new office
Related: Interview: PS Energy Group gears up for 2023 with sustainable bunker fuel products and digital transformation
Related: Singapore: PS Energy Group acquires ISCC cert for biodiesel products
Related: MPA blueprint prepares marine fuels sector for multi-fuel bunkering transition
Related: Singapore: MPA maritime decarbonisation blueprint sets target for bunkering sector
Related: Singapore: MPA publishes guidelines for bunker suppliers in preparation of e-BDN launch

Photo credit: PS Energy Group
Published: 23 November 2023

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Alternative Fuels

Yang Ming orders six LNG dual-fuel, ammonia-ready containerships from Hanwha Ocean

Each of the six new vessels will have a capacity of up to 13,650 TEU and feature LNG dual-fuel propulsion and Ammonia Fuel Ready specifications.

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Yang Ming orders six LNG dual-fuel, ammonia-ready containerships from Hanwha Ocean

Taiwanese shipping firm Yang Ming Marine Transport Corporation (Yang Ming) and South Korean shipbuilder Hanwha Ocean on Wednesday (2 September) signed a shipbuilding contract for six 13,000 TEU class LNG dual-fuel container vessels. 

The contract was signed by Dr. Chuck Tsai, Chairman of Yang Ming, and Mr. Charles Kim, CEO of Hanwha Ocean. The vessels are scheduled for delivery between 2028 and 2029. 

They will complement Yang Ming’s existing fleet of 10,000+ TEU vessels and serve as key vessels on East-West services, with deployment flexibility across trade lanes connecting Asia with the East and West Coasts of North America, South America, and the Mediterranean. 

Each of the six new vessels will have a capacity of up to 13,650 TEU and feature LNG dual-fuel propulsion and Ammonia Fuel Ready specifications.

“As Yang Ming transitions toward net-zero emissions, LNG provides a relatively mature and economically viable alternative fuel solution, capable of reducing greenhouse gas emissions by approximately 20%,” the company said. 

“At the same time, ammonia can serve as a carbon-free fuel by utilising converted LNG storage facilities, while offering relatively lower conversion costs and comparatively well-developed supply chains and infrastructure. The Ammonia Fuel Ready design will therefore provide Yang Ming with greater flexibility in responding to increasingly stringent international regulations on greenhouse gas emissions.”

In addition, the vessels will be equipped with Type B LNG fuel tanks with a design pressure of 1.0 bar to enhance the safety and efficiency of LNG operations, together with a range of energy-saving technologies, including Wind Shields, Rudder Bulbs, Pre-Swirl Stators, and Shore Power Systems. Smart ship technologies and cybersecurity protection features will also be incorporated to enhance operational efficiency, safety, and reliability while effectively reducing fuel consumption and greenhouse gas emissions.

Deliveries under Yang Ming’s next-generation fleet optimization plan commenced earlier this year. By 2030, a total of 24 new vessels are expected to enter service. 

This includes 18 LNG dual-fuel vessels—comprising five 15,500 TEU, seven 16,000 TEU, and the six 13,000 TEU vessels under this contract—alongside six 8,000 TEU methanol dual-fuel-ready ships. 

 

Photo credit: Yang Ming Marine Transport
Published: 4 September, 2026

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Alternative Fuels

LR, China’s MARIC unveil tanker concept ready for three future bunker fuels

Both secured AiP for a new 114,000 DWT product and crude oil tanker designed to accommodate future conversion to LNG, methanol or ammonia.

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LR, China’s MARIC unveil tanker concept ready for three future bunker fuels

Lloyd’s Register (LR) and the Marine Design and Research Institute of China (MARIC) on Thursday (3 September) have secured Approval in Principle (AiP) for a new 114,000 DWT product and crude oil tanker designed to accommodate future conversion to LNG, methanol or ammonia.

Announced at SMM 2026, the concept addresses one of the biggest investment challenges facing shipping today: the need to develop vessels and capabilities that can support a range of alternative fuel options and pathways as technologies, infrastructure and regulations evolve.

While LNG is already a mature fuel pathway, methanol and ammonia remain at an earlier stage of development, with questions around global fuel availability, infrastructure development, economics and long-term adoption.

The 114,000 DWT tanker concept has been designed as a product and crude oil carrier that can accommodate future conversion to LNG, methanol or ammonia as technologies, regulations and fuel supply chains mature. By incorporating conversion readiness at the design stage, the concept aims to reduce future retrofit complexity and provide owners with greater confidence when planning long-term fleet investments.

The design concept was reviewed against LR’s July 2026 class rules and regulations, including requirements relating to ships using gases and other low-flashpoint fuels, alongside relevant IACS Common Structural Rules for oil tankers. Final classification and statutory approval remain subject to full compliance with all applicable rules and regulations.

Theo Kourmpelis, Global Business Director for Tankers, Lloyd’s Register, said: “Shipowners are being asked to make major investment decisions today despite continued uncertainty around which fuels will dominate in the decades ahead. Alternative fuel solutions each offer potential pathways to compliance, but fuel infrastructure, regulation and economics continue to evolve at different speeds around the world.

“Designs that preserve flexibility will be critical in helping owners manage risk while preparing for multiple future scenarios.”

Si Nan, Marine & Offshore Marketing Department Vice Director, MARIC, said: “As the industry explores different decarbonisation pathways, shipowners need vessel designs that can adapt alongside technological and regulatory developments. This concept was developed specifically to provide greater fuel flexibility and long-term resilience, allowing owners to respond to changing market requirements without being locked into a single fuel strategy.

“Receiving Approval in Principle from Lloyd’s Register is an important milestone that validates the design concept and supports its future development.”

 

Photo credit: Lloyd’s Register
Published: 4 September, 2026

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Alternative Fuels

DNV: Alternative-fuelled vessel orders hit highest monthly level since October 2024

LNG-fuelled vessels accounted for the vast majority of August activity while the strong summer performance marked a significant acceleration in ordering activity after a relatively slow start to the year.

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DNV: Alternative-fuelled vessel orders hit highest monthly level since October 2024

Latest data from classification society DNV’s Alternative Fuels Insight (AFI) platform alternative-fuelled vessel ordering was strong in August, with 52 new vessels added to the platform.

This is the highest monthly total since October 2024 and follows another active month in July, when 47 vessels were added to the database.

LNG-fuelled vessels accounted for the vast majority of August activity, with 46 orders recorded. The container segment led the way with 30 orders, while the car carrier segment contributed a further 12 LNG-fuelled vessels. In addition, four ethanol-fuelled bulk carriers and two hydrogen-powered bulk carriers were added during the month, as well as one LNG bunker vessel.

The strong summer performance marked a significant acceleration in ordering activity after a relatively slow start to the year. In total, 242 alternative-fuelled vessel orders have been placed in the first eight months of 2026, representing a 27% increase compared with the same period in 2025.

LNG remains the dominant fuel choice, accounting for 63% of all alternative-fuelled vessel orders registered so far this year. Container vessels represent the largest share of these LNG orders (59%), followed by car carriers (30%).

Jason Stefanatos, Global Decarbonization Director at DNV Maritime, said: “The past two months have been particularly strong for alternative-fuelled vessel ordering, with August recording the highest monthly total we’ve seen since October 2024. This has helped lift year-to-date orders to a level well above the same period last year.

“LNG remains the leading fuel choice, driven largely by activity in the container and car carrier segments. These sectors have been among the earliest adopters of alternative fuels, supported by predictable liner operations and increasing demand from cargo owners to reduce emissions across supply chains. 

“For many owners, LNG offers a combination of emissions reductions, fuel availability and future flexibility while the longer-term fuel landscape continues to evolve. 

“At the same time, the latest figures include orders for ethanol- and hydrogen-fuelled vessels, highlighting that owners continue to explore a range of decarbonization pathways. Different segments are making different fuel choices, but the overall level of activity demonstrates continued investment in lower-emission shipping.”

Screenshot 2026 09 04 at 12.29.26 PM Screenshot 2026 09 04 at 12.29.36 PM

 

Photo credit: DNV
Published: 4 September, 2026

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