Connect with us

Business

Shipping’s cleantech revolution needs more than just new bunker fuel, says maritime group

The maritime industry cannot miss a huge opportunity to save time and money by investing in and applying energy efficiency and renewable propulsion technologies.

Admin

Published

on

Open Letter

A group of maritime firms including  airseas, HOULDER, i-tech, NAPA, NORSEPOWER, A&P, Anemoi, Ardmore Shipping, Bibby Marine Limited, Bunker Trace, CAMMELL LAIRD, e1 Marine, MSE International SEA SPEED Marine Consulting, Smart Green Shipping, stratumfive, Uber Boat, WightLink on Tuesday (2 November) issued an open letter calling for the international shipping industry to recognise more than green bunker fuels are needed for shipping’s decarbonisation:

The maritime industry cannot miss a huge opportunity to save time and money by investing in and applying energy efficiency and renewable propulsion technologies for newbuilds and retrofits.

These technologies, which are fully commercially available, extend the lifespan of the existing fleet and reduce the environmental footprint of the sector.

It’s not a question of choosing one or the other all energy efficiency and renewable propulsion technologies can complement low and zero carbon fuels; we will need them to create the zero carbon ship of the future, and reduce costs in the short term and long term. Simply put, these technologies make fuel and money work harder.

The damage done by our carbon emissions is cumulative and won’t be reversed by future fuels. Shipping can no longer run the race to be second. 

All measures taken now to reduce emissions through clean technologies give owners more time to plan for decarbonisation, while saving emissions and money now.

Shipping has abundant, innovative and fully commercially-available clean technologies that can significantly reduce fuel consumption and greenhouse gas emissions. It’s time to use them alongside new fuels. 

The shipping industry, the invisible backbone of our economy, is tackling the climate emergency with a growing sense of urgency and optimism even as it struggles with the disruptions of a global pandemic. However, energy and optimism needs to translate into action.

Action now means embracing the full range of innovative tools that are here, commercially ready, and deployable. 

Currently, regulations are encouraging the industry to do two things; to derate engines so vessels are forced to slow down and save fuel, and to gradually switch to more sustainable fuels, such as green hydrogen, methanol, ammonia, or biofuels. 

We commend the investments in this area, from fuel suppliers, shipowners and charterers alike, all of whom share the vision of a low-carbon future. However, given the scale and urgency of the climate emergency, we need to use all the tools available to us.

While important and impactful, focusing only on a narrow set of measures results in the shipping sector missing the opportunity to make big improvements NOW. We already have a huge range of energy efficiency and renewable propulsion technologies that both complement future fuels, and reduce carbon emissions. 

We already have a huge range of clean technologies delivering: wind propulsion, air lubrication, battery energy storage, hull coating technology, hydrodynamic energy saving devices, and voyage optimisation software, to name a few. 

The best part is, these technologies complement each other, and alternative fuels. Each vessel has its own combination of technologies that can drastically reduce its carbon footprint. These must combine with solutions for smarter operations and optimised voyages, that break down the misaligned incentives that can lead to ships sailing at speed only to wait in port. 

The shipping industry needs both efficiency technologies and future fuels. Neither provides the silver bullet for the existing fleet or the vessels of the future. Future fuels will be less energy-dense than current fuels, so ships will need more fuel to meet the same performance goals. 

Efficiency technologies can bridge this gap; making every drop of new fuel count will be essential. We can’t let the development of new fuels become an excuse for inertia. Immediate improvements are essential particularly as the current fleet and ships in the builder’s yard now will be on the water for decades for come. Our environment can’t sustain a “wait and see” strategy. 

The damage that we are doing is cumulative and irreversible and we all share a responsibility to take action. Many clean technologies have been deployed successfully for several years. Some translate the foundations of shipping such as sails, or hull coatings, into a true 21st Century solution. 

Others embrace big data, AI, advanced new materials and new ground breaking technologies. The history of seafaring is one of optimism, perseverance and ingenuity in the face of difficulty. No challenge is greater than the fight against climate change, and we should use all the tools we can today. 

The history of shipping shows that those who rose to the challenges prospered and those that either left it to others or ignored those challenges failed. We are calling for all shipping stakeholders and international authorities to expand their focus and attention. 

Long term innovation, research and development and the development of alternative fuels are key to decarbonising the maritime sector, BUT they are not the whole solution. Shipping needs to integrate the available efficiency and renewable propulsion technologies into their roadmap immediately with the following goals:

  • To ensure that we move to address the environmental challenges right away
  • To provide the opportunity to immediately drop emissions and fuel consumption while alternative fuels continue to scale up.
  • To provide the current fleet with an opportunity to keep pace with the rapidly accelerating environmental objectives coming from regulators, the market and the end consumer.

With the right support from investors and regulation, energy efficiency and renewable propulsion technology can inspire more ambitious targets and innovation, and ensure that shipping can continue as the lynchpin of a low-carbon global economy.

 

Photo credit: Alex Duffy from Unsplash
Published: 3 November, 2021

Continue Reading

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.

Admin

Published

on

By

RESIZED Sora Shimazaki on Pexels

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.

Related: Singapore: Hin Leong Founder OK Lim gets jail term slashed to 13.5 years

 

Photo credit: Sora Shimazaki
Published: 21 July, 2026

Continue Reading

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.

Admin

Published

on

By

RESIZED Drew Beamer

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.

Related: Singapore: Director declares Heng Tong Fuels & Shipping’s inability to continue business
Related: Heng Tong Fuels & Shipping in court over DBS Bank bunker tanker loan
Related: Singapore: Bunker tanker “Coastal Neptune” arrested
Related: Heng Tong Fuels & Shipping, Coastal Logistics tankers enter S&P market

 

Photo credit: Drew Beamer
Published: 21 July, 2026

Continue Reading

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.

Admin

Published

on

By

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

Continue Reading

Trending