Business

rise-x.io, DNV GL, NUS embark on project to predict illegal bunker activity

Though computer models analysing automatic identification system data to determine if illegal fuel bunkering can be detected using vessel pattern analysis.

Published

6 years ago

February 12, 2020

Admin

Technology company rise-x.io on Wednesday (12 February) announced it is collaborating with DNV GL and the National University Singapore (NUS) Department of Statistics and Applied Probability on a data science project to help tackle illegal bunker activity.

Global hydrocarbon theft and fraud is estimated to be more than USD 133 billion per year. Illegal bunkering is estimated to cost companies and governments as much as USD 3 billion per year and given the challenges involved in measuring losses it is likely that the true number is even higher, they stated in a joint release

NUS students majoring in Data Science and Analytics will be tasked to create computer models analysing 10 billion lines of automatic identification system (AIS) data to determine whether illegal fuel bunkering can be detected using vessel pattern analysis.

“The market driving illegal bunkering activities and bunker theft costs the industry billions every year. The quicker we can build solutions to address that issue, the quicker the industry can become cheaper and more sustainable,” said rise-x.io CEO Rowan Fenn.

“These algorithms will provide users of the platform with unique insights into vessel performance and management that builds trust for vessel owners and operators. We believe that being good; is good for business,” said rise-x.io CTO David Barker.

“After partnering with rise-x.io to make the QuayChain platform a reality with the help of our Veracity ecosystem, we are very excited about the next stage of this important initiative to revamp the marine fuels market,” said DNV GL project technical lead Nic Sabin.

“Data science is starting to gain momentum in the maritime industry, but is still relatively nascent compared to other sectors.

“We therefore see this excellent initiative, driving efficiency improvements while helping to prevent illegal behavior or honest disputes, as a key driver to improve trust and transparency in the industry.”

Fenn said beyond the potential direct integration into QuayChain, the algorithms will be enhanced to deliver alternative outcomes.

“The value of this project is how flexible the algorithms can be. For example, modifications will allow us to predict metrics such as fuel consumption and CO2 emissions without installing IoT devices on the vessel’s machinery,” added Fenn.

Providing this information not only gives vessel owners more insights into their vessels’ operational performance, but also open doors for the delivery of carbon neutral voyages, he concluded.

“This project provides a great opportunity for NUS students to apply their data science and analytics skills to solve a real-world problem,” said NUS Department of Statistics and Applied Probability Deputy Head (Academic) Associate Professor Tiong Wee Lim.

“A total of 34 students will be involved in this project, and I am sure they will benefit significantly from their participation under the mentorship of industry experts.”

Photo credit: rise-x.io
Published: 12 February, 2020

Legal

Singapore withdraws remaining 127 charges against Hin Leong founder OK Lim

Lim Oon Kuin, also known as OK Lim, was issued a stern warning and a district court granted him a discharge amounting to an acquittal for these charges on 17 July.

Published

6 hours ago

July 21, 2026

Admin

Founder of collapsed oil trader Hin Leong Trading, Lim Oon Kuin, also known as OK Lim, has had the remaining 127 charges against him withdrawn, according to The Straits Times on Monday (20 July).

OK Lim was issued a stern warning and a district court granted him a discharge amounting to an acquittal for these charges, including those for cheating, on 17 July. The discharge means Lim cannot be prosecuted again for the same offences.

Lim, 84, is currently serving a 13½-year prison sentence after the High Court reduced his original 17½-year jail term in March 2026. He was convicted in 2024 on two cheating charges and one count of abetting forgery in a case prosecutors described as one of Singapore’s most serious trade finance frauds.

Lim was convicted in May 2024 of two charges of cheating the Hongkong and Shanghai Banking Corporation (HSBC) and one count of abetting forgery that proceeded to trial out of a total of 130 criminal charges.

He was first charged in court on 14 August 2020, and was subsequently handed further charges in court on 25 September 2020, 30 April 2021 and 24 June 2021 for his role in perpetuating fraud on various financial institutions.

A total of 130 charges were eventually brought against him for cheating and forgery-related offences.

Photo credit: Sora Shimazaki
Published: 21 July, 2026

Winding up

Singapore: Coastal Logistics Pte Ltd to be wound up voluntarily

Coastal Logistics was reportedly affiliated with troubled Singapore bunker player Coastal Oil (Singapore) Pte Ltd.

Published

6 hours ago

July 21, 2026

Admin

Several resolutions for Coastal Logistics Pte Ltd were made during an extraordinary general meeting held on 14 July, according to a notice in the Government Gazette on Friday (4 July).

The following resolutions were duly passed during the meeting:

As Special Resolution

That it has been proved to the satisfaction of the meeting that the Company cannot by reason of its liabilities continue its business and accordingly the Company be wound up voluntarily pursuant to Section 160(1)(b) of the Insolvency, Restructuring and Dissolution Act 2018 (No. 40 of 2018);

As Ordinary Resolutions

that Mr. Wong Pheng Cheong Martin and Ms. Koay May Yee, both care of FTI Consulting (Singapore) Pte Ltd, One Raffles Quay, #27-10 South Tower, Singapore 048583 be appointed as the joint and several Liquidators of the Company for the purpose of such winding up; and
that the Liquidators be at liberty to open, maintain and operate any bank account(s) or account(s) for monies received by them as Liquidators with such bank(s) as they deem fit; and
that a Committee of Inspection will not be formed.

Manifold Times previously reported Nicholas James Gronow, director of Heng Tong Fuels & Shipping and Coastal Logistics, filed statutory declarations for both companies stating the firms cannot continue their businesses due to liabilities.

Both companies were reportedly affiliated with troubled Singapore bunker player Coastal Oil (Singapore) Pte Ltd.

In 2019, several vessels owned by both firms entered the sale & purchase (S&P) market in Singapore.

Photo credit: Drew Beamer
Published: 21 July, 2026

LNG Bunkering

PIL’s LNG dual-fuel boxship “Kota Elok” arrives in Singapore on maiden call

As the first of 13 new 13,000 TEU vessels joining its fleet, Kota Elok is equipped to operate on LNG and low-sulphur fuel oil that helps reduce our greenhouse gas emissions.

Published

6 hours ago

July 21, 2026

Admin

PIL's LNG dual-fuel boxship “Kota Elok” arrives in Singapore on maiden call

Singapore-based Pacific International Lines Pte Ltd on Monday (20 July) said its first 13,000 TEU LNG dual-fuel container vessel, Kota Elok, recently made her maiden call to Singapore on 15 July.

As the first of 13 new 13,000 TEU vessels joining its fleet, Kota Elok is equipped to operate on liquefied natural gas (LNG) and low-sulphur fuel oil that helps reduce our greenhouse gas emissions.

The vessel also incorporated energy-saving features and digital technologies to reduce fuel consumption and enhance operational performance, as well as a bow windshield to improve aerodynamics, contributing to improved fuel efficiency and lower emissions over the course of long-haul voyages.

“Following Singapore, Kota Elok will continue her voyage on our East Coast Service 1 (ES1) route to South America, calling at ports in Brazil, Uruguay, and Argentina before returning to Asia,” the company said in a social media post.

Kota Elok also became PIL’s first vessel to receive Lloyd’s Register certification for compliance with the IACS UR E26 and UR E27 cyber security requirements.

Developed by the International Association of Classification Societies (IACS), UR E26 and UR E27 are mandatory cyber resilience requirements for newbuild vessels contracted from 1 July 2024.

Photo credit: Pacific International Lines
Published: 21 July, 2026