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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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Bunker Fuel

Singapore: Bunker fuel sales soar by 7.5% on year in June 2025

4.59 million mt of various marine fuel grades were delivered at the world’s largest bunkering port in June, up from 4.27 million mt recorded during the similar month in 2024, according to MPA.

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Singapore: Bunker fuel sales soar by 7.5% on year in June 2025

Sales of marine fuel at Singapore port increased by 7.5% on year in June 2025, according to Maritime and Port Authority of Singapore (MPA) data.

In total, 4.59 million metric tonnes (mt) (exact 4,594,700 mt) of various marine fuel grades were delivered at the world’s largest bunkering port in June, up from 4.27 million mt (4,274,900 mt) recorded during the similar month in 2024.

Deliveries of marine fuel oil, low sulphur fuel oil, ultra low sulphur fuel oil, marine gas oil and marine diesel oil in June (against on year) recorded respectively 1.70 million mt (+8.6% from 1.56 million mt), 2.31 million mt (-7.2% from 2.33 million mt), 1,900 mt (from zero), 4,500 mt (-88% from 8,000 mt) and zero (from zero).

Singapore: Bunker fuel sales soar by 7.5% on year in June 2025

Bio-blended variants of marine fuel oil, low sulphur fuel oil, ultra low sulphur fuel oil, marine gas oil and marine diesel oil in June (against on year) recorded respectively 38,800 mt (+671.7% from 2,500 mt), 114,300 mt (+97.9% from 45,400 mt), zero (from zero), zero (from zero) and zero (from zero). B100 biofuel bunkers, introduced in February this year, recorded 1,000 mt of deliveries in June.

LNG and methanol sales were respectively 55,400 mt (-7.8% from 51,700) and zero (from zero mt). There were no recorded sales of ammonia for the month and so far in 2025.

Related: Singapore: Bunker sales volume raises to year record high of 4.88 million mt in May
Related: Singapore: Bunker fuel sales increase by 4% on year in April 2025
Related: Singapore: Bunker fuel sales increase by 0.5% on year in March 2025
Related: Singapore: Bunker fuel sales down by 8.1% on year in February 2025
Related: Singapore: Bunker fuel sales down by 9.1% on year in January 2025

A complete series of articles on Singapore bunker volumes reported by Manifold Times tracked since 2018 can be found via the link here.

 

Photo credit: Maritime and Port Authority of Singapore
Published: 15 July 2025

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Alternative Fuels

ITOCHU orders world’s first ammonia bunkering vessel for Singapore demonstration project

Company contracted Sasaki Shipbuilding to build the 5,000 m3 vessel and Izumi Steel Works to construct an ammonia tank plant that will be loaded onto the vessel, which is expected to be delivered in 2027.

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ITOCHU orders world’s first ammonia bunkering vessel for Singapore demonstration project

ITOCHU Corporation (ITOCHU) on Monday (14 July) announced that it recently signed a shipbuilding contract for the construction of a 5,000 m3 ammonia bunkering vessel with Sasaki Shipbuilding. 

The company also announced an agreement regarding the construction of an ammonia tank plant that will be loaded onto the vessel with Izumi Steel Works. 

These agreements were signed by Clean Ammonia Bunkering Shipping Pte Ltd (CABS), a wholly owned Singapore-based specific purpose company of ITOCHU. 

In relation to this, CABS has concluded a financing agreement with The Hiroshima Bank for financing a part of purchase price of the vessel.

The agreements were concluded to pursue the Demonstration Project for Bunkering Ammonia as Marine Fuel in Singapore adopted by the Ministry of Economy, Trade and Industry in Japan as part of the Global South Future-oriented Co-Creation Project (large-scale demonstration in ASEAN member states). 

Going forward, with an eye toward the demonstration of ammonia bunkering in Singapore after building the world’s first newbuilding ammonia bunkering vessel, ITOCHU said efforts will be made to facilitate concrete discussions with the maritime stakeholders, including the port authority in Singapore, the Maritime & Port Authority of Singapore (MPA), and the fuel producers, while obtaining support from the Japanese Government.

The vessel is to be flagged under the Singapore Registry and is expected to be delivered in September 2027.

ITOCHU will establish a safe offshore bunkering operation of ammonia as marine fuel by way of ship-to-ship transfer through the development and construction of the vessel and demonstration. 

Then, by utilising the vessel, ITOCHU will establish connection between the first movers in clean ammonia production and the first movers in the ammonia-fueled vessels and secure initial demand for ammonia as marine fuel, aiming at the commercialisation of ammonia bunkering business in Singapore and expansion of similar business model to major maritime transportation points around the world, including Spain (Strait of Gibraltar), Egypt (Suez Canal) and Japan.

 

Photo credit: ITOCHU Corporation
Published: 15 July 2025

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Business

S@S Week 2025: Singapore conducts chemical spill exercise to gear up for methanol bunkering

Exercise simulated a methanol spill from a collision involving a methanol-carrying tanker off Singapore’s southern coast, triggering a multi-agency response which included spill containment.

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The Maritime and Port Authority of Singapore (MPA) on Tuesday (15 July) conducted a multi-agency chemical spill exercise to strengthen Singapore’s operational readiness, as part of the International Safety@Sea (S@S) Week. 

MPA is organising the 12th edition of the S@S Week, with this year’s event being the international edition, taking place from 15 to 18 July 2025. 

Conducted off Singapore’s southern coast, the exercise involved 11 vessels and over 150 personnel from more than 10 government agencies and industry partners. Mr Murali, Mr Dominguez and Secretary-General, International Organization for Marine Aids to Navigation, Mr Francis Zachariae, observed the exercise.

The exercise simulated a methanol spill from a collision involving a methanol-carrying tanker, triggering a multi-agency response. This included coordinated efforts for spill containment and the evacuation of injured crew. A range of drone-enabled technologies was trialled during the exercise, including 3D imaging to assess vessel damage and a water curtain misting system to limit the spread of chemical plumes. An Uncrewed Surface Vehicle was also deployed to monitor air quality, reducing the need for responders to enter hazardous zones to perform such monitoring. The Maritime Digital Twin and chemical plume modelling tools were used to enhance situational awareness and support decision-making throughout the exercise.

The exercise is part of MPA’s broader preparations for methanol bunkering and provided a valuable opportunity for agencies and industry partners to better understand the safety and operational challenges, and potential solutions, in handling alternative fuels. Following an open call in March 2025, MPA has received 13 applications for methanol bunker supplier licenses, reflecting strong industry interest in supplying methanol on a commercial scale in Singapore. MPA is evaluating the applications and targets to issue the licenses in Q4 2025, which will cover the period from 1 January 2026 to 31 December 2030. 

Themed ‘The Future of Maritime Safety: Navigating the Next Frontier’, the annual event brings together local and international maritime experts, and the maritime community to promote awareness and facilitate discussions on maritime safety. 

Speaking at the opening today, Mr Murali Pillai, Senior Minister of State, Ministry of Law and Ministry of Transport, said that the maritime sector is facing increasingly complex global challenges, including heightened geopolitical tensions, climate change, and rapid transformation in digitalisation and decarbonisation. He highlighted that we can tackle these challenges by (i) equipping our workforce for future challenges, (ii) harnessing collective expertise through close collaborations and partnerships, and (iii) drawing upon technology and innovation to augment our capabilities. 

In his keynote address, Mr Arsenio Dominguez, Secretary-General of the International Maritime Organization (IMO), underscored the need for robust safety frameworks and regulations as the maritime landscape evolves. He cited Maritime Autonomous Surface Ships and new ship designs and systems using sustainable marine fuels as examples of how the maritime sector is transforming and outlined IMO’s priorities in those areas. Mr Dominguez also highlighted the importance of government-industry collaboration and initiatives like the Safety@Sea Singapore Campaign to foster a safety-first culture at sea.  

This year’s conference features 19 speakers across three plenaries. Discussions will focus on issues shaping the future of maritime safety, including lessons learned from past incidents, and the human element in ensuring safety as the industry transforms. A new Safety@Sea Community Conversations event will also bring together representatives from shipping companies, regional ferry operators, harbour craft operators and terminal operators to share their experiences and efforts in fostering a safety culture in their organisations. 

Over 1,800 participants from more than 40 countries are expected to participate in the week’s sessions. Other highlights include the Responders Plus Programme (RPP) Maritime Workshop jointly organised by MPA and the Singapore Civil Defence Force, and two safety forums organised by the MPA-Harbour Craft and MPA-Pleasure Craft Safety Work Groups to promote safety awareness and best practices within the local maritime community. 

MPA is also enhancing safety across other areas of port operations. In collaboration with Skyports Drone Services, TFG Marine and CBS Ventures, MPA and the partners will complete Singapore’s first shore-to-ship drone trials for delivery and retrieval operations from bunker tankers later this week. 

The use of drones reduces reliance on harbour craft for such operations, improving efficiency while reducing pollution and congestion. 

It also minimises safety risks by removing the need for crew to handle and transfer heavy items between the ship and shore using harbour craft. Safety considerations, including the management of electrostatic discharge risks during the drone operations, are carefully reviewed in preparation for the trials. 

Findings from these trials will inform the development of safety protocols and an operational framework to support the phased implementation of this new maritime service.

 

Photo credit: Manifold Times
Published: 15 July 2025

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