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SHIPNEXT: Blockchain to solve the problem of unpaid bunker bills

User which receives Tokens for services within SHIPNEXT or storage on company’s account can also choose to collect or transfer it into fiat currency (or vice versa).

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The following statement was provided by Alexander Vavarenko, CEO and Founder of SHIPNEXT, to Manifold Times in regards to how blockchain technology will be able to benefit the bunkering sector:

One of the next plans on SHIPNEXT’s agenda is to improve the security and reliability of freight payments. The time when freight is fully prepaid to a carrier’s or ship owner’s account may soon be over. 

The traditional way of executing freight payments bears risks ranging from stolen freight to underpayments resulting from a carrier’s bankruptcy, or fuel meter challenges, or other contractual disputes. Payment disputes are not uncommon in the bunkering industry. In many cases bunker suppliers are held hostage, while noncredit worthy carriers and shipowners abuse their control of the prepaid freight and use the money to cover past debts.

SHIPNEXT plans to put an end to this by introducing a blockchain-based solution within their open source Smart Contract program. SHIPNEXT, an international shipping marketplace, has designed and developed an open source Electronic Bill of Lading that will confirm the execution of a Smart Contract and generate a freight payment.

SHIPNEXT will work with banks to issue their own utility tokens, Ship Tokens (SHPT), specifically for the purpose of shipping related transactions, making the use of these bank issued Ship Tokens more reliable and trustworthy. 

The bank-issued Ship Tokens will be used for “Smart” Freight payment. Particularly, the Freight will be placed on a Smart Contract which acts more like an escrow account, and paid in part for every significant phase of the delivery process. The payment itself will be done on the blockchain and secured by Smart Contracts. 

Most significantly, ShipNext’s Ship Token system will solve the problem of unpaid bunker bills. It may be secured and paid by the shipper (shipper’s bank) straight to the bunker provider. The payment will first be completed in Ship Tokens (SHPT) in exchange for proof of the bunker supply, bunker survey documents and mater’s bunker delivery note, and easily exchangeable into fiat currency on demand. 

 
Photo credit: SHIPNEXT
Published: 20 July, 2018

 

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Alternative Fuels

IMO holds course to equip new generation of trainers for green bunker fuels transition

Course is equipping a new generation of trainers with the knowledge and tools needed to support the global transition to low and zero-carbon marine fuels.

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IMO holds course to equip new generation of trainers for green bunker fuels transition

International Maritime Organization (IMO) on Wednesday (16 July) said its GreenVoyage2050 Programme and the German development agency GIZ, through its International Power-to-X (PtX) Hub, have been running their first joint Training-of-Trainers course on renewable PtX fuels for shipping from 14 to 18 July. 

The course is equipping a new generation of trainers with the knowledge and tools needed to support the global transition to low and zero-carbon fuels in the maritime sector. 

Participants are engaging in interactive sessions covering topics such as the impact of shipping on the climate, emerging fuel technologies, the role of ports in the energy transition, and strategies to decarbonise national fleets. 

As part of the hands-on methodology, participants are also practicing how to deliver selected training modules themselves and receive feedback to strengthen their facilitation skills and adapt content to national contexts. 

More than 20 participants from around the world are attending the course, held at IMO Headquarters in London. The course is part of a growing partnership between IMO and International PtX Hub, aimed at supporting developing countries prepare for a cleaner and more sustainable future in shipping. 

Power-to-X converts renewable electricity from wind, solar, hydro, and geothermal sources into sustainable fuels such as green hydrogen, ammonia, methanol, and renewable marine diesel — all with potential to support the decarbonisation of shipping. 

Astrid Dispert, GreenVoyage2050 Programme Manager at IMO, said: “This programme is a critical enabler for cascading renewable PtX knowledge to national actors in the maritime sector. The shared learning and interactive methodology will empower our trainers to deliver impactful workshops that support the green shipping transition worldwide. We are building a community of trainers who can help share this knowledge across the world.”

Philipp Wittrock, Lead Shipping & Country Outreach, International PtX Hub, said: “The training modules, co-created with the IMO, now offer a solid tool for scaling capacity development at the nexus of energy and shipping – a key area for climate action. By training experts from different countries, we are helping to turn global ambition into local action. These new trainers will now support their own countries to prepare for the future of shipping.” 

All trainers participating in the course had previously completed a foundational course on renewable fuels. They will now be equipped to deliver tailored national workshops, contributing to broader efforts under the IMO’s GreenVoyage2050 Programme and the International PtX Hub’s efforts to promote clean energy solutions globally.

 

Photo credit: International Maritime Organization
Published: 17 July 2025

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Digital platform

Days of making bunker decisions in isolation are over, says ZeroNorth MD

Nicolai Bendixen, Managing Director of ZeroNorth Bunker tackles fragmentation in bunkering by sharing his view on the strategic direction to make it a fully integrated part of shipping operations.

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Days of making bunker decisions in isolation are over, says ZeroNorth MD

Nicolai Bendixen, Managing Director of ZeroNorth Bunker on Friday (11 July) shared his view on the strategic direction to make bunkering a fully integrated part of shipping operations:

Traditionally, bunker procurement has been treated as a transaction – often disconnected from the operational, commercial, and environmental realities of shipping. But with intensifying regulations and increasingly complex fuel markets, this fragmented approach exposes companies to inefficiencies, rising costs, and compliance risks.

Since his appointment in 2024, Bendixen has led the development of a new strategy focused on transforming bunkering into an integrated, data-driven part of shipping operations – one that connects fuel buying directly to operational performance, commercial strategy, and emissions impact.

“The days of making bunker decisions in isolation are over,” says Bendixen. “We’re operating in an environment where every fuel decision has consequences – for cost, for emissions, and for operational performance.”

A growing challenge for operators

The complexity facing ship operators today is unprecedented. Fuel remains the industry’s single largest operating cost, but pricing is volatile, supplier networks are fragmented, and new regulations are fundamentally reshaping bunkering requirements. At the same time, the industry is under pressure to cut emissions, optimise performance, and manage multiple fuel types – from conventional bunkers to alternatives like LNG, methanol and biofuels.

“These are not isolated decisions,” Bendixen explains. “You can’t separate bunkering from voyage planning, from emissions reporting, or from your commercial strategy. But most of the tools in the market still treat them as separate processes.”

An integrated approach

ZeroNorth is closing this gap by embedding bunkering into its fuel optimisation ecosystem. Through the ZeroNorth platform, bunker procurement, planning, performance data, and emissions management are being connected – enabling operators to make informed, holistic decisions.

“Bunker procurement is part of a bigger operational puzzle,” says Bendixen. “Our role is to give operators the tools to solve it in real time – with data, with automation, and with alignment to both commercial and sustainability goals.”

ZeroNorth’s bunker products have already evolved significantly since the company entered the bunker space in 2022. Following the integration of ClearLynx and Prosmar Bunkering, the company has streamlined digital procurement tools, scaled its electronic Bunker Delivery Note (eBDN) solution across global ports. Over 95% of pricing volume is now automated, helping reduce manual workload and improve pricing accuracy.

Towards autonomous bunker management

Bendixen’s ultimate goal is what ZeroNorth calls “Autonomous Bunker Management.”

“The complexity will only increase,” he says. “More fuel types, more suppliers, more regulations – operators can’t manage that with disconnected systems. We believe the future lies in intelligent, connected environments where procurement, planning, and compliance are automated and aligned.”

This vision involves building AI-driven systems capable of continuously learning from operational data, predicting optimal procurement strategies, and executing transactions with minimal manual intervention. Work is already underway on autonomous planning capabilities, smart claim detection, and enhanced pricing indices designed to support greater transparency and reliability across the bunker market.

Importantly, Bendixen stresses that ZeroNorth’s approach is designed to complement – not replace – existing procurement models. The company provides technology that enables informed decision-making, whether operators manage procurement in-house or through trusted partners.

“Procurement will always involve relationships, but it needs to be underpinned by data, automation, and alignment to operational realities,” Bendixen concludes. “That’s how we move beyond fragmented decisions – and towards a future where fuel procurement helps drive both commercial performance and decarbonisation.”

 

Photo credit: ZeroNorth
Published: 15 July, 2025

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Mass Flowmeter

TFG Marine installs first ISO-certified mass flow meter on US Gulf bunkering barge

Aims to equip 90% of its global bunkering fleet with MFMs by 2026.

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TFG Marine installs first MFM MT

TFG Marine on Friday (11 July) said it has reached a key milestone in its global digitalisation programme with the installation of an ISO 22192-compliant mass flow meter (MFM) on the Buffalo 404, a barge on time charter from American bunker barge company Buffalo Marine Service Inc.

This is the first ISO-certified MFM-equipped bunkering barge operating in the US Gulf, setting a new benchmark for transparency, accuracy and operational efficiency in marine fuel delivery across the region, it notes.

The installation is part of TFG Marine’s wider strategy to equip close to 90% of its global bunkering fleet with MFMs by 2026 as a commitment towards improving data integrity, streamlining operations and strengthening trust in marine fuel transactions.

“Our continued investment in mass flow meter technology underlines our commitment to leading the modernisation of marine fuel supply chains,” said Kenneth Dam, Global Head of Bunkering at TFG Marine.

“I’m proud that more than 60% of our barge fleet already deploys mass flow meters, and we continue to build on this.

“By ensuring greater accuracy in delivered quantities and eliminating manual measurement discrepancies, we’re helping to create a more transparent, reliable and efficient bunkering process for shipowners and operators globally.”

 

Photo credit: TFG Marine
Published: 14 July 2025

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