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SIBCON 2022: S&P Global Market Intelligence and Bunkerchain in MoU

Continues collaboration on Marine Vessel Pass enabling shipowners to create Digital Identities similar to Sovereign Digital Identities for ships.

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S&P Global Market Intelligence and Bunkerchain on Wednesday (5 October) signed a Memorandum of Understanding to continue their collaboration on Marine Vessel Pass at SIBCON 2022.

The development was witnessed by Maritime & Port Authority of Singapore’s (MPA) Assistant Chief Executive (Operations), Captain M Segar from MPA.

Marine Vessel Pass service is the World’s first Digital Identities for ships tied to the IMO Database. The unique Identity as a Service (IDaaS) enables ship owners to create Digital Identities for ships similar to Sovereign Digital Identities programs run by most countries such as Singpass in Singapore.

The service is designed to encompass the highest levels of security incorporating the latest encryption technologies used in such as Private-Public Key Infrastructure and Oauth 2.0 for Single Login Identity Assess Management capabilities for users to use across multiple platform infrastructures. The service will effectively replace wet ink ship stamps and signatures used now on paper documentation with verified digital versions to speed up digitization efforts in the Maritime Industry.

S&P Global Market Intelligence is the originating source for the International Maritime Organization (IMO) Ship Number and is the sole authority with responsibility for assigning and validating these numbers. The Numbers are issued and maintained on behalf of the IMO.

Bunkerchain is an awardee of the Digital Bunkering project from MPA and are also the inventors of the World’s first Smart Contract eBDN service called “Touch and Sail”.

The service retrieves information direct from the IMO database to ensure proper onboarding of Ships and Companies by validating Identities registered against the IMO Global Maritime Database before activating their Digital Identities. With the onboarding validation handled independently by the IMO Team from S&P Global Market Intelligence, Users can be assured that the Digital Identity credentials used to login, sign digital documents are accurate and verifiable against their Identities.

The Public Key is shared with S&P Global Market Intelligence after generation and the transaction hash from every digital transaction signed with the service will be stored for validation and compliance purposes in case the transaction is challenged. In the Enterprise version of the service, documents signed with the service are hashed and stored in client managed servers, providing privacy and confidentiality for the ship owners.

There are two ways to use the system.

  1. The service can be integrated with current systems of ship management companies or owners to enable Marine Vessel Pass interoperability with existing systems and pre-designed forms.
  2. Users of the system can also digitize a paper document received on the vessel by taking pictures of any Paper Document and designate the position of the electronic signature and ship stamp before calling on their Digital Identities to sign the documentation.

Any company involved in the Maritime industry can choose to connect to the service to digitize their operational workflow. Electronic documentation is shared with permissioned connected systems or emailed to counterparties instantly upon completion. Documentation that are signed by the Vessel Master and crew includes but are not limited to Bunker Delivery Notes, Master Bill of Ladings and Delivery Orders.

Leon Ling, CEO, Bunkerchain:

Digital Identities are the foundation of the digital economy. The support of MPA and S&P Global Market Intelligence has enabled the creation of this new service that will benefit ship management companies and owners by digitizing their paper based operational documents signed by the Vessel. Besides the efficiency gained from digitalization, regulators and shipping companies around the world can now be assured that a digital document signed with the service is authentic and that the integrity of the document has not been compromised since its creation.

Captain M Segar, MPA Assistant Chief Executive (Operations):

The MoU between S&P Global Market Intelligence and Bunkerchain represents yet another significant step towards bridging the physical and digital worlds of the maritime industry. The creation of digital identity ecosystem for ships will provide authenticity for electronic documents, and further enhance maritime efficiency as more ships replace wet ink stamps and embrace digitalisation. MPA looks forward to the trial of Marine Vessel Pass with Electronic Bunker Delivery Note in Singapore as we continue to explore further integration with other services and platforms to provide secure and efficient verification of ship identity.

Ashlee Williams, Vice President S&P Global Market Intelligence, Maritime, Trade & Supply Chain:

As the originating source and sole authority for assigning and validating IMO Ship, Registered Owner and Company numbers, S&P Global Market Intelligence collaborates and empowers those in the Maritime, Shipping and Logistics sectors, to integrate data through the adoption of new technologies. By leveraging data management, standardization, automation, and digitalization, we can help facilitate interoperability across maritime & trade platforms to enhance the efficiency, sustainability, and innovation of the shipping sector.

To build on well-established Industry Standards set by the International Maritime Organization (IMO) is a natural evolution to digitalizing the sector, and one that the IMO is working to ensure shipping can embrace. Digital identities for ships will allow for the fast and secure exchange of data and information, whilst still ensuring the universal public reference for ships, continues to be the unique ship identifier adopted in systems globally today.

 

Photo credit: Bunkerchain
Published: 5 October, 2022

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Business

VPS introduces new General Manager for Middle East and Africa

Dirk de Bruyn brings experience from Rio Tinto, Shell and recently TotalEnergies, and a range of local, regional and global oil, gas and energy roles across four continents.

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Dirk de Bruyn, General Manager for Middle East and Africa, VPS

Maritime decarbonisation advisory services company VPS on Monday (11 November) announced the appointment of Dirk de Bruyn as the company’s new General Manager for Middle East and Africa.

In this role, Dirk will advance VPS’s business within the region with both new and existing key clients. He will be critical to the growth of both the traditional businesses of marine fuels testing and advisory as well as playing a key role of decarbonisation of the maritime industry.

With experience gained at Rio Tinto, Shell and recently TotalEnergies, and a range of local, regional and global roles across four continents in international oil, gas and energy, Dirk brings extensive experience and knowledge in the energy transition space.

Using his extensive knowledge gained in bunker fuel and lubricants, both from a supplier and end-users’ perspective, Dirk previously led a global team focused on energy transition and decarbonisation.

“The maritime industry is changing quickly with ambitious emissions targets and decarbonisation requirements driving the introduction of new technologies and fuels into the market,” said Dr. Malcolm Cooper, CEO of VPS.

“In this dynamic landscape, we are very pleased to have Dirk on board to help VPS customers optimise their operations by understanding which new fuels to use and how to adapt to these sustainable business drivers and meet new regulations.

Dirk noted: “Whilst the industry is rightfully focussed on the path towards Net Zero, we must ensure we do not take our eye off the ball on the operational risks posed by traditional fuels.”

“Energy Transition and the path towards Net Zero is an evolving landscape. With the change in fuel types and the introduction of future fuels, it is important to provide advice and guidance to our customers whilst taking into consideration the differences in legislations.

“VPS leads the way with their technology in biofuels as well as methanol testing which is a key component to reducing our clients emissions and helping them in their journey towards Net Zero. I am excited to be part of this journey with VPS’ with an industry who is focussed on fuel transition.

“With over forty years of knowledge and experience in the marine industry, and a wide range of advanced Digital Decarbonisation platforms such as PortStats, Maress, BOND and Emsys, I have found that our team is filled with experience and determination and I look forward to adding mine into the mix.”

 

Photo credit: VPS
Published: 13 November 2024

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Business

Bunker fuel trading firm Shipergy achieves International Sustainability and Carbon Certification

ISCC certification assures Shipergy’s marine fuel offerings meet sustainability, GHG reduction, and traceability standards – aligning with upcoming FuelEU Maritime.

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London-based provider of marine fuel solutions Shipergy on Monday (11 November) said it has achieved International Sustainability and Carbon Certification (ISCC).

The ISCC certification provides assurance that Shipergy’s fuel offerings meet rigorous sustainability, greenhouse gas (GHG) reduction, and traceability standards – aligning with the EU’s upcoming FuelEU Maritime regulation effective 1 January 2025.

This regulation mandates progressive reductions in GHG intensity across all energy sources used by ships within EU waters. By achieving ISCC certification, Shipergy is now positioned to help its customers meet these regulatory standards while supporting the broader decarbonisation of the maritime sector.

“Achieving ISCC certification is a testament to Shipergy’s dedication to advancing sustainable practices in the maritime industry,” said Daniel Rose, CEO of Shipergy.

“With FuelEU Maritime on the horizon, we are proud to offer our customers a reliable source of certified sustainable fuels, enabling them to navigate the changing regulatory landscape confidently and responsibly.”

Related: Marine fuel trading firm Shipergy secures USD 15 million credit facility with DNB Bank
RelatedShipergy to set up new Singapore regional hub in major recruitment drive
RelatedSignal Group launches tech enabled bunker procurement company Shipergy
RelatedShipergy reports more than 60 bunker procurement transactions since launch
RelatedShipergy to leverage OpenAI’s ChatGPT in AI-powered, bunker fuel market report

 

Photo credit: Shipergy
Published: 13 November 2024

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Yinson GreenTech and Zeabuz to develop autonomous, remote-controlled electric marine vessels

Collaboration aims to integrate Zeabuz’s hardware and proprietary software algorithms into Yinson GreenTech’s marinEV fleet of electric vessels.

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Yinson GreenTech and Zeabuz to develop autonomous, remote-controlled electric marine vessels

Yinson GreenTech and autonomous maritime technology company Zeabuz have signed a Letter of Intent to integrate autonomous and remote-control capabilities into Yinson GreenTech's fleet of marine electric vessels.

This collaboration was formalised at the Singapore Norway Innovation Conference on 6 November. It marked a significant step towards decarbonising Singapore's maritime industry by combining the power of electrification and autonomous maritime operations.

The collaboration aims to deliver more efficient marine solutions by integrating Zeabuz's hardware and proprietary software algorithms into Yinson GreenTech's marinEV fleet of electric vessels.

Critically, by combining autonomous driving technology with electric marine vessels, this collaboration will address the maritime industry's long-term manpower challenges. It will reduce the number of crew members required onboard, making maritime operations more efficient.

Additionally, it will enhance the attractiveness of maritime jobs by introducing new, knowledge-based skillsets like artificial intelligence, machine learning, and remote operations. This aligns with the Maritime and Port Authority of Singapore's (MPA) Industry Transformation Map, particularly its focus on digitalisation.

“To fulfil Yinson GreenTech's broader vision of building a net-zero world, marinEV believes in harnessing the power of sustainable innovation through strategic partnerships," said Jan-Viggo Johansen, Managing Director of marinEV.

“Our collaboration with Zeabuz marks a significant step towards accelerating the adoption of autonomous solutions, which will not only enhance the safety and efficiency of maritime operations but also significantly reduce our environmental impact on waterways.”

“By combining the power of electrification, onboard autonomy, and remote supervisory control, we are laying a strong foundation for the future of sustainable maritime operations,” said Øyvind Smogeli, CEO and Co-Founder of Zeabuz.

“We are excited to deepen our collaboration with Yinson GreenTech to build a future of sustainable, technology-driven marine transport.”

 

Photo credit: Yinson GreenTech
Published: 12 November 2024

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