Bunker Fuel

Shipergy inks energy-adjusted bunker procurement deal with European operator

Technology-led marine fuels trading company announced that it has signed what it believes to be the marine fuel industry’s first energy-adjusted procurement contract.

Published

2 months ago

July 31, 2026

Admin

Shipergy, the technology-led marine fuels trading company, on Thursday (30 July) announced that it has signed what it believes to be the marine fuel industry’s first energy-adjusted procurement contract.

Under the multi-year agreement, signed with a European operator, Shipergy procures and supplies marine fuels across the client’s fleet, with its performance formally benchmarked on the cost per unit of energy delivered, measured in dollars per gigajoule ($/GJ), rather than the industry’s traditional cost per tonne.

Shipergy said marine fuel has been bought and sold by the tonne since the industry began, but not all tonnes are equal. The energy content of fuel varies materially between suppliers in the same port, by as much as 5 to 7 per cent for VLSFO, meaning a cargo that looks cheaper on the headline market index can in fact cost more per unit of usable energy. Vessels bunkering lower energy fuel burn more of it to complete the same voyage, with direct consequences for cost, carbon emissions and regulatory compliance.

The new contract addresses this directly. For each covered port, a reference energy value is established from Energy Beacon data and agreed between the parties. Each quarter, Shipergy’s achieved cost of energy delivered, calculated from actual invoice values and laboratory-measured Net Calorific Value on every delivery, is compared against the energy-adjusted market benchmark. Where Shipergy delivers a demonstrated saving, the benefit is shared between the parties under a gain-share mechanism, fully aligning the interests of buyer and supplier for the first time in bunker procurement.

Supplier selection under the contract is driven by Energy Beacon, Shipergy’s proprietary analytics platform that predicts the energy content of marine fuel by supplier and port before purchase, and ranks firm offers on effective cost per megajoule rather than headline price per tonne.

The platform has been independently validated by an external data scientist across more than 10,000 real production predictions spanning over 1,300 ports, demonstrating a 95 per cent confidence interval of just ±0.024 MJ/kg, equivalent to less than $0.30 per tonne of pricing uncertainty. Every prediction carries a confidence score, and the model is retrained monthly to stay calibrated as bio-blend prevalence and market conditions evolve.

The first stem under the contract, a marine gasoil delivery at a major North West European bunkering hub, was completed in July 2026. The delivery was covered by an independent survey verifying both quantity and quality, including laboratory testing of Net Calorific Value, allowing Energy Beacon’s predicted energy content to be validated directly against measured results. Supplier selection for the stem ran through the full Energy Beacon process: quality screening, energy content prediction by supplier, and ranking of firm offers on effective $/GJ.

Energy-based procurement aligns with where maritime regulation is already heading. FuelEU Maritime accounts for greenhouse gas intensity in energy terms (gCO2eq/MJ), the IMO’s Carbon Intensity Indicator rewards lower consumption, and the EU Emissions Trading System penalises excess carbon. Buying fuel on energy content rather than weight moves procurement onto the same basis as the compliance frameworks shipowners must now answer to.

Daniel Rose, Chief Executive Officer of Shipergy, said: “The market prices fuel in dollars per tonne, but ships do not run on tonnes, they run on energy. Two cargoes at the same price can differ by five per cent or more in the energy they actually deliver, and until now no procurement contract has recognised that.

“This agreement changes the basis on which marine fuel is bought. We are measured, and rewarded, on the true cost of energy delivered to the ship. We believe every fleet will buy this way within a decade.”

Photo credit: Shipergy
Published: 31 July, 2026

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Winding up

Singapore: Marine fuel testing firm CCIC Singapore faces winding up application

Application for the winding up of CCIC Singapore Pte Ltd was filed by Hong Kong-registered CCIC International Holding Limited on 7 September, according to Government Gazette notice.

Published

10 hours ago

September 15, 2026

Admin

An application for the winding up of marine fuel testing and surveying firm CCIC Singapore Pte Ltd (CCIC Singapore) was filed by Hong Kong-registered CCIC International Holding Limited on 7 September, according to a Monday (14 September) notice on the Government Gazette.

It noted the winding up application is directed to be heard before the Judge sitting in the General Division of the High Court at 10am on 2 October.

Manifold Times previously reported US Department of the Treasury’s Office of Foreign Assets Control (OFAC) sanctioned nearly two dozen firms operating in multiple jurisdictions, including CCIC Singapore.

OFAC alleged that Sepehr Energy “consistently relied” on CCIC Singapore to accomplish not only the necessary pre-delivery cargo inspections required before oil is transferred to China, but also to conceal the oil’s Iranian origins.

In late 2024, CCIC Singapore provided inspection services during a ship-to-ship transfer of approximately two million barrels of Iranian oil from the sanctioned vessel and Sepehr Energy-affiliated SIRI (IMO 9281683), formerly known as the ANTHEA.

In June 2025, CNA reported that the company laid off hundreds of workers after it was hit with the sanctions. Later, the CCIC Singapore told CNA that the layoffs were due to the impact of the sanctions which was greater than expected, and that it has ceased operations in Singapore.

According to the Government Gazette notice, any creditor or contributory of the company desiring to support or oppose the making of an order on the winding up application may appear at the time of hearing by himself or his counsel for that purpose.

A copy of the winding up application will be furnished to any creditor or contributory of the company requiring the copy of the winding up application by the solicitors of the applicant’s, Oon & Bazul LLC, on payment of the regulated charge for the same.

The Applicant’s address is 29/F, East Tower, Shun Tak Centre, 168-200 Connaught, Rd Central, Hong Kong, China.

The Applicant’s solicitors are TKQP Law LLP of 1 Wallich Street, #07-02 Guoco Tower, Singapore 078881.

Note: Any person who intends to appear at the hearing of the winding up application must send notice of such intention to the abovenamed TKQP Law LLP, the Claimant’s solicitors, within the time and in the manner set out in rule 70 of the Insolvency, Restructuring and Dissolution (Corporate Insolvency and Restructuring) Rules 2020. The notice must be in Form CIR-15 and state the name and address of the person, or, if a firm, the name and address of the firm, and must be signed by the person, firm, or his or their solicitor (if any) and must be served and, if sent by post, must be posted in such time as in the ordinary course of post to reach the address of the Claimant’s abovenamed solicitors, at least 3 clear working days before 2 October 2026 (the day appointed for the hearing of the application).

Photo credit: Manifold Times
Published: 15 September, 2026

Alternative Fuels

Singapore: Bunker fuel sales down by 4% on year in August 2026

4.77 million metric tonnes of various marine fuel grades were delivered at the world’s largest bunkering port in August, up from 4.97 million mt recorded during the similar month in 2025, according to MPA.

Published

10 hours ago

September 15, 2026

Admin

Singapore: Bunker fuel sales down by 4% on year in August 2026

Sales of marine fuel at Singapore port fell by 4% on year in August 2026, according to data from the Maritime and Port Authority of Singapore (MPA).

In total, 4.77 million metric tonnes (mt) (exact 4,772,700 mt) of various marine fuel grades were delivered at the world’s largest bunkering port in August, up from 4.97 million mt (4,965,300 mt) recorded during the similar month in 2025.

Deliveries of marine fuel oil, low sulphur fuel oil, ultra low sulphur fuel oil, marine gas oil and marine diesel oil in August (against on year) recorded respectively 2.1 million mt (11.1% from 1.89 million mt), 2.19 million mt (-12.4% from 2.50 million mt), zero (from zero), zero (-100% from 1,800 mt) and zero (from zero).

Bunker Sales

Bio-blended variants of marine fuel oil, low sulphur fuel oil, ultra low sulphur fuel oil, marine gas oil and marine diesel oil in August, (against on year) recorded respectively 8,700 mt (-74.9% from 34,700 mt), 47,900 mt (-48.9% from 93,800 mt), zero (from zero), zero (from zero) and zero (from zero). B100 biofuel bunkers, introduced in February last year, recorded 800 mt (-83.3% from 4,800 mt).

LNG and methanol sales were 58,600 mt (-12.5% from 67,000 mt) and zero (from zero) respectively. There were no recorded sales of ammonia for the month and so far since 2025.

Photo credit: Maritime and Port Authority of Singapore
Published: 15 September, 2026

Alternative Fuels

ABS joins Korean initiative to develop standards for hydrogen-fuelled ships

ABS has signed a MoU with three Korean maritime organisations, targeting ISO standards for hydrogen ships, smart shipyards and future maritime technologies.

Published

10 hours ago

September 15, 2026

Admin

ABS joins Korean initiative to develop standards for hydrogen-fuelled ships

Classification society ABS on Sunday (13 September) said it has signed a memorandum of understanding (MoU) with three Korean maritime organisations to advance the development of international standards for the next generation of smart ships and shipyards.

The MOU targets ISO standards for hydrogen ships, smart shipyards and future maritime technologies.

The Korea Marine Equipment Research Institute (KOMERI), the Korean Offshore & Shipbuilding Association (KOSHIPA) and the Research Institute of Medium & Small Shipbuilding (RIMS) have joined ABS in a five-year framework to develop global benchmarks for vessels and shipyards that take advantage of digital technology, smart manufacturing and advanced maritime systems.

As part of a related agreement, ABS is already supporting the development of preliminary standards in two areas: digital production and traceability requirements for additively manufactured shipboard components and vent mast design for hydrogen-fuelled ships.

“Next-generation shipbuilding is advancing rapidly, and the international standards that govern smart ships, smart shipyards and advanced manufacturing are still taking shape. ABS has deep, long-running relationships with Korea’s shipbuilding sector, and this agreement puts that experience to work in developing the standards the industry needs. It is a further reflection of why Korean yards look to ABS to help advance these technologies safely,” said Patrick Ryan, ABS Senior Vice President and Chief Technology Officer.

The MOU builds on an earlier agreement between ABS and the Korean Agency for Technology and Standards (KATS) to advance international standardisation of smart ship and shipyard technologies, part of Korea’s national strategy to lead in high-value-added vessel development.

The agreement also reflects the growing engagement of ABS with Korea’s maritime sector, including recent cooperation with Korean and U.S. institutions through the Korea-U.S. Shipbuilding Partnership Center.

“International standards are more than technical criteria — they are the gateway to market entry and a core element of global competitiveness. Working with ABS allows us to combine Korea’s standardization capabilities with ABS’ classification experience, and we expect this to produce practical results that lower the barriers for Korean equipment manufacturers entering overseas markets,” said Joo-Hyoung Choi, Managing Director of KOMERI.

Photo credit: ABS
Published: 15 September, 2026