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Shanghai INE inks agreement with PetroChina for LSFO futures overseas delivery

INE statement did not name any specific storage sites, but cited Petrochina had distribution centres for bunker fuel overseas in Singapore, reports Reuters.

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The Shanghai International Energy Exchange (INE) on Thursday (26 November) signed an agreement with PetroChina International Co Ltd for the overseas delivery for its low sulphur fuel oil (LSFO) futures contract, reported Reuters

The partnership is a consensus on a first overseas delivery for the bunker fuel as an “important foundation” towards China’s futures delivery “going global”, said the INE. 

This would be the first time a Chinese futures contract would be deliverable outside of China, which could boost the liquidity and increase the pricing influence of the low-sulphur fuel oil contract.

The partnership marks the first time a futures contract in China can be deliverable outside of China, and would boost liquidity and flexibility for the contracts, as well as help to influence pricing for bunker fuel. 

While the INE statement did not name the specific storage sites or delivery points, it cited that Petrochina had distribution centres for bunker fuel oil Zhoushan, as well as overseas in Singapore and the UAE.

The Shanghai INE gained approval from the China Securities Regulatory Commission to list its LSFO futures contracts in June this year, and at that time the Commission specified the fuel in contracts open for trade must be of domestic origin.

Related: Shanghai INE mulls Singapore port as delivery location for LSFO futures contracts
Related: Shanghai International Energy Exchange confirms listing date of LSFO futures contracts
Related: China Securities Regulatory Commission approves INE’s LSFO futures contracts
Related: Shanghai INE VLSFO futures project enters milestone, trading simulations to start in June


Photo credit: Edward-he
Published: 27 November, 2020

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Newbuilding

Singapore: Pinnacle Marine’s first B100 fuelled utility boat starts 1,000-hour research trial

Newbuilding operated by Prestige Ocean Pte Ltd will capture data on bunker fuel emissions, marine fuel behaviour, and performance.

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The 50th vessel constructed by local boat builder Pinnacle Marine (Singapore) Pte Ltd, namely President 100, is starting 1,000 hours of real-time research trials in collaboration with several parties from Wednesday (9 July) onwards, it says.

Powered by B100 biodiesel, the newbuilding operated by Prestige Ocean Pte Ltd will capture data on bunker fuel emissions, marine fuel behaviour, and performance.

It will be participating in trials with Maritime Energy & Sustainable Development Centre of Excellence (MESD), Weichai Singapore, China Classification Society, Pacific International Lines (PTE) Ltd, Abo Shoten, Ltd. / 株式会社安保商店 , Abo Singapore, Wilmar International, Gulf Marine, Amspec Testing & Services, and AYK Engineering and Consulting.

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The President 100, Pinnacle Marine’s first full biodiesel utility boat, was launched on Tuesday in the presence of over 100 guests.

“Our latest vessel, President 100, merges legacy and future. Named after our first aluminium boat (“President”) and inspired by B100 biodiesel, it leads the charge for our next 50 vessels — many of which will embrace green technology,” stated Pinnacle Marine in a LinkedIn post.

“The launch was amazing, with strong turnout from across the maritime sector — authorities, shipowners, operators, agencies, chandlers, researchers, offshore engineers, and petrochemical suppliers.”

It added: “We’re excited to see how it paves the way for wider adoption of B100 biodiesel — a cleaner, sustainable path for Singapore’s harbour craft sector.”

 

Photo credit: Pinnacle Marine (Singapore) Pte Ltd
Published: 9 July 2025

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Newbuilding

BHP awards charter contracts for two ammonia dual-fuelled bulk carriers

BHP continues to work with the maritime industry to develop an ammonia bunkering plan for the two vessels when they are delivered from 2028.

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Global resources company BHP on Wednesday (2 July) signed contracts with COSCO Shipping Bulk Co., Ltd., a subsidiary of COSCO shipping Group (COSCO Shipping) for the charter of two ammonia dual-fuelled Newcastlemax bulk carriers.

The new vessels to be built under this arrangement will be two of only a handful of vessels in the world capable of using ammonia as a bunker fuel.

The two vessels, expected to be delivered from 2028, will primarily transport iron ore from Western Australia to Northeast Asia.

When run on lower or low to zero greenhouse gas (GHG) emissions ammonia, these vessels will be capable of reducing GHG emissions by at least 50% and up to 95% on a per voyage basis compared to a conventionally fuelled voyage.

The five-year time charter contracts are expected to contribute towards a reduction in the GHG emissions intensity of BHP chartered shipping.

BHP continues to work with the maritime industry to develop an ammonia bunkering plan – the process of fuelling ships with ammonia – for the two vessels when they are delivered from 2028.

Sourcing lower and low to zero GHG emissions ammonia is subject to an ongoing tender process.

 

Photo credit: BHP
Published: 9 July 2025

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Milestone

Everllence celebrates 1,000th ME-GI engine; milestone unit goes to Hapag-Lloyd

Engine, a 7G95ME-GI type, bound for a Hapag-Lloyd container vessel currently under construction at Jiangsu New Yangzi Shipbuilding Co., Ltd.

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Everllence, formerly known as MAN Energy Solutions, on Tuesday (8 July) celebrated the order of its 1,000th ME-GI engine that can run on either heavy fuel oil or liquefied natural gas (LNG) as a bunker fuel.

The engine, a 7G95ME-GI type, is bound for a Hapag-Lloyd container vessel currently under construction at Jiangsu New Yangzi Shipbuilding Co., Ltd. where it is designated as hull #1721.

Rolf Habben Jansen, CEO of Hapag-Lloyd, said: “We are proud to mark this milestone with our partner, Everllence. The order for the 1,000th ME-GI engine reflects our commitment to decarbonising global supply chains. Dual-fuel technologies like the ME-GI are a key step on our journey to a low-emission fleet and support our ambition to drive change across the industry.”

Dr Uwe Lauber, CEO of Everllence, added: “Considering that the strongest interest in the ME-GI engine has come from the container segment, it is fitting that this significant milestone should be reached with an order from such a prestigious container player as Hapag-Lloyd. On the path to net-zero, the marine industry needs pioneers and Hapag-Lloyd is leading the way by example.”

“2025 has seen a large increase in ME-GI orders as methane makes for an excellent transition fuel on the way to decarbonising shipping. The ME-GI’s market-leading efficiency and technological maturity – as well as lowest methane slip – have confirmed its status as the marine industry’s default, dual-fuel, methane-fuelled engine.”

 

Photo credit: Everllence
Published: 9 July 2025

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