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SIBCON 2024: Bunkering conglomerates point out need of ‘level playing field’ on shipping’s multi-fuel future

‘We’ve got to have some kind of level playing field, where everybody’s policed the same way, charged the same way. Otherwise, it’s going to be a problem,’ states CEO of KPI OceanConnect.

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Anders KPI OC

Representatives of bunkering conglomerates KPI OceanConnect and TFG Marine on Wednesday (9 October) highlighted a need for the entire marine fuels supply chain to work together to tackle stricter maritime environment policies surrounding IMO 2030, FuelEU Maritime and more.

They were responding to a comment posed by the moderator of the International Trade and Fuel Market Trends panel discussion session during the 23rd Singapore International Bunkering Conference and Exhibition (SIBCON 2024).

The moderator explained of the International Maritime Organization (IMO) having to “knit together” the different approaches taken by each country for decarbonising their own individual shipping sector.

“At the conglomerate that I represent, we have both shipping and physical bunker supply operations as well. I think one of the most important things is a clear message around the regulations and how these are policed,” said Anders Grønborg, Chief Executive Officer, KPI OceanConnect.

Grønborg pointed out IMO 2020 enforcement procedures were unsimilar at different ports around the world; the inconsistency provides a forecast on how IMO 2030 could be administered around the world.

“If we create different markets for different shipowners, for different ships, for different regions, we’re going to have a problem in having a level playing field,” he added.

“We’ve got to have some kind of level playing field, where everybody’s policed the same way, charged the same way. Otherwise, it’s going to be a problem. It’s going to be an imbalanced market.”

Kenneth TFG Marine

Kenneth Dam, Global Head of Bunkering, TFG Marine believed there won’t be a level playing field if current conditions persist.

“The future depends on our collaboration,” stated Dam.

“Each port is likely to adopt its own strategy for attracting bunker demand and investments, and collaboration is key. We need to work closely together to find solutions.

TFG Marine was established as a joint venture between Trafigura, Frontline and Golden Ocean to ensure a reliable supply of high-quality bunker fuel at key locations. More collaborations like this are needed by suppliers, traders and buyers.

Dam also highlighted that “We’re moving towards a multi-fuel bunker market which introduces new complexity.” 

“We anticipate a division in the bunker industry into different market tiers – tier one, two and three, both on the procurement and supply sides.

“The FuelEU Maritime regulations set to take effect on January 1, 2025 will create a super interesting environment. In two years’ time at SIBCON 2026 we’ll be witnessing a vastly different bunker market.”

 

Photo credit: Manifold Times
Published: 16 October 2024

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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.

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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

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LNG Bunkering

CIMC SOE secures order for 12,000-cbm LNG bunkering vessel from Sinopec Clean Energy

Once operational, the vessel is expected to strengthen Sinopec’s domestic coastal LNG bunkering network and help address gaps in China’s alternative fuel bunkering infrastructure.

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CIMC SOE secures order for 12,000-cbm LNG bunkering vessel from Sinopec Clean Energy

China’s Nantong CIMC Sinopacific Offshore & Engineering Co., Ltd. (CIMC SOE) recently signed a contract with Sinopec (Beijing) Clean Energy Co., Ltd. to build a 12,000-cubic metre (m3) LNG bunkering vessel, according to Chinese maritime media.

The vessel is scheduled for delivery in 2028 and will support Sinopec’s efforts to expand its presence in the marine clean energy sector.

Once operational, the vessel is expected to strengthen Sinopec’s domestic coastal LNG bunkering network and help address gaps in China’s LNG bunkering infrastructure.

With this signing , CIMC Pacific Offshore Engineering’s LNG bunkering vessel orderbook is further strengthened, maintaining its leading position in the global market for small and medium-sized LNG bunkering vessels.

The contract also marked another milestone for CIMC SOE, which has seen a sharp increase in orders and business performance this year amid a surge in domestic LNG vessel demand.

 

Photo credit: Nantong CIMC Sinopacific Offshore & Engineering
Published: 21 July, 2026

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Nuclear

ABS awards AiP to Korean institute for SMR-powered container ship concept design

KRISO says AiP recognises the technical feasibility and safety of its concept design, marking an important milestone toward the development of next-generation nuclear-powered commercial ships.

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ABS awards AiP to Korean institute for SMR-powered container ship concept design

Korea Research Institute of Ships & Ocean Engineering (KRISO) on Thursday (16 July) received Approval in Principle (AiP) from the American Bureau of Shipping (ABS) for its concept design of a 15,000 TEU Small Modular Reactor (SMR)-powered container ship utilising Molten Salt Reactor (MSR) technology.

KRISO said the AiP recognises the technical feasibility and safety of its concept design, marking an important milestone toward the development of next-generation nuclear-powered commercial ships.

“This achievement demonstrates international recognition of KRISO’s technological capabilities in the rapidly evolving field of nuclear-powered shipping, supporting the transition toward low-carbon maritime transport,” it said. 

Building on this milestone, KRISO will continue advancing basic and detailed ship design, paving the way for future demonstration and commercialisation of SMR-powered vessels. 

Through continued R&D and international collaboration, KRISO remains committed to strengthening next-generation maritime technologies and contributing to the safe deployment of nuclear propulsion in the maritime industry.

 

Photo credit: Korea Research Institute of Ships & Ocean Engineering
Published: 21 July, 2026

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