Business

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.

Published

11 months ago

November 23, 2023

Admin

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.”

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.

Photo credit: PS Energy Group
Published: 23 November 2023

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Bunker Fuel

SIBCON 2024: Singapore bunker suppliers must provide e-BDN from 1 April 2025

Senior Minister of State Amy Khor also announced MPA will reduce the frequency of verification checks for mass flow meters from twice a year currently, to once a year, from 1 April 2025.

Published

5 hours ago

October 9, 2024

Admin

SIBCON 2024: Singapore bunker suppliers must provide e-BDN from 1 April 2025

From 1 April 2025, all bunker suppliers in the Port of Singapore will be required to provide digital bunkering services as a default, said Senior Minister of State for Transport and Sustainability and the Environment Amy Khor on Wednesday (9 October).

Khor said Singapore will be the first port globally to implement digital bunkering at scale. MPA launched the digital bunkering initiative on 1 November 2023, becoming the first port in the world to implement electronic bunker delivery notes (e-BDN).

“This initiative is expected to save the industry close to 40,000 man-days annually. In addition, MPA will introduce a centralised electronic Bunker Delivery Note record verification facility to enhance the transparency and integrity of transactions in bunkering operations,” she said in her speech at the 23rd Singapore International Bunkering Conference and Exhibition (SIBCON).

She emphasised that the Maritime and Port Authority of Singapore (MPA) will work closely with industry partners and the unions to digitalise and streamline processes to improve efficiency in our port; strengthen our capabilities for the bunkering of future fuels and encourage adoption of these fuels; and upskill our workforce to facilitate the green transition.

Khor also made the following announcements:

From 1 April 2025, MPA will reduce the frequency of verification checks for mass flow meters from twice a year currently, to once a year. Singapore was the first port globally to adopt mass flow meters in 2017, and this new move is expected to help the industry save approximately $300,000 annually.
From 1 January 2025, MPA will roll out two innovative AI applications, DocuMind and DocuMatch, developed in collaboration with cloud service providers to drive greater efficiency in our port. These are expected to accelerate certificate processing time from up to three days currently, to a few minutes for most transactions.
Two ammonia bunkering proposals by Mitsui and Fortescue-Equatorial Marine Fuels have been selected by the consortia for the next round of Request for Proposal to provide a low- or zero-carbon ammonia solution on Jurong Island for power generation and bunkering.
MPA will commit $50 million to support the implementation of the refreshed Maritime Singapore Green Initiative, to further encourage the early adoption of green fuels and technologies across the maritime industry.
Singapore will continue to strengthen international partnerships through initiatives like the Green and Digital Shipping Corridors (GDSCs) to enable the digitalisation and decarbonisation of shipping. On 9 October, MPA and the Shandong Provincial Transport Department will be signing the Singapore-Shandong GDSC at the sidelines of the 25th Singapore-Shandong Business Council co-chaired by Mr Chee Hong Tat, Minister for Transport and Second Minister for Finance, and Mr Zhou Naixiang, Governor of the Shandong Provincial Government.

Photo credit: Singapore Ministry of Transport
Published: 9 October, 2024

Mass Flowmeter

Singapore-based Metcore and LR team up for MFM certification service

Both launched an independent accredited certification service to certify the accuracy and reliability of bunker fuel quantity received via Mass Flow Meters.

Published

6 hours ago

October 9, 2024

Admin

Singapore-based MFM system measurement solutions provider, Metcore International Pte Ltd (Metcore), and classification society Lloyd’s Register (LR) on Tuesday (8 October) launched an independent accredited certification service to certify the accuracy and reliability of the quantity of fuel received via Mass Flow Meters (MFM).

The service provides an additional conformity assessment of the installed meters, positioned, used, maintained and continually certified to the ISO 22192:2021 standard.

The demand for greater accuracy in delivered bunker quantities, coupled with the need for greater transparency, security and process automation, is fuelling the widespread adoption of MFMs across the bunker industry. In 2017, the Maritime and Port Authority (MPA) of Singapore mandated the use of MFM for bunkering operations. SOHAR Port and Freezone has announced a mandate from the start of 2025 and the Port of Rotterdam and Antwerp-Bruges are also set to introduce mandatory use of MFMs in 2026.

To help address the concerns that shipowners and bunker buyers have with the use of MFM on bunker tankers, the LR-Metcore MFM certification service aims to minimise the likely causes of measurement error and ensure that the MFM system serviceability extends beyond its initial qualification at installation. Its post-approval conformity assessment program includes metering-data analysis to monitor crew competency to help maintain secure integrity for continual measurement performance.

In the event of a dispute, the service also offers an independent bunker delivery MFM digital data review as part of the investigation process, helping ensure all parties can carry out a detailed review of the data.

Lewis Cox, LR’s FOBAS Business Development Area Manager, said: “With the potential to eliminate bunker quantity disputes, minimise turnaround time and boost confidence in delivery data – particularly as ship operators seek to account for emissions from the fuel they consume – using Mass Flow Meters seems to be a win for all stakeholders.”

“But the reality of adopting them is not necessarily as straightforward. With the new LR-Metcore MFM certification service, bunkering stakeholders will have peace of mind that their installed meters are certified in conformity with internationally recognised standards for enhanced transparency and trust.”

Photo credit: Metcore International
Published: 9 October, 2024

LNG Bunkering

Seaspan Energy takes delivery of first LNG bunkering vessel

“Seaspan Garibaldi” will take first cargo and finalise commissioning in Vancouver before its first ship-to-ship bunkering in Long Beach, where Seaspan will bunker a series of vessels.

Published

6 hours ago

October 9, 2024

Admin

Seaspan Energy takes delivery of first LNG bunkering vessel “Seaspan Garibaldi”

Seaspan Energy on Monday (7 October) said it took delivery of its first LNG bunkering vessel, the Seaspan Garibaldi and is currently sailing to Vancouver.

Manifold Times previously reported that the vessel is the first of three 7,600m3 LNG bunkering vessels and it is named after Mount Garibaldi, or “Nch'ḵay̓”.

The Garibaldi will take first cargo and finalise commissioning in Vancouver before its first ship-to-ship bunkering in Long Beach, where Seaspan will provide Simultaneous Operations to bunker a series of vessels.

Following its first bunkering, the Seaspan Garibaldi will continue to provide low-carbon solutions to vessels on the West Coast of North America and will soon be joined by Seaspan Energy’s second LNG bunkering vessel, the Seaspan Lions (Ch’ich’iyúy Elxwíkn).

The Seaspan Garibaldi is 112.8 metres in length, 18.6 metres in width, 5 metres in draft, with a design speed of 13 knots.

CIMC Sinopacific Offshore & Engineering (CIMC SOE), a small-scale gas carrier shipyard in the world, was appointed to build all three LNG bunkering vessels.

Photo credit: Seaspan
Published: 9 October, 2024