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Alternative Fuels

SIBCON 2024: EMF, Argus Media point towards traditional benchmarks as baseline for shipping’s multi-fuel future

‘We also realise it is very capital intensive to offer multiple fuel solutions, and that’s why we are also embracing the spirit of collaboration,’ shared Executive Director at EMF.

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Zhen Mao EMF

Representatives of Singapore’s largest bunker supplier Equatorial Marine Fuel Management Services (EMF) and independent market intelligence provider Argus Media shed light on the evolving marine fuels landscape and complexities involved in pricing and adoption of alternative fuels.

They were part of the Fuel Price Projections and Impact on the Multifuel Marketplace panel discussion session that took place on Thursday (10 October) during the 23rd Singapore International Bunkering Conference and Exhibition (SIBCON 2024).

Choong Zhen Mao, Executive Director, EMF emphasised the importance of the traditional bunker fuel market as a benchmark for the emerging alternative marine fuels sector. 

Conventional fuels such as fuel oil and gas oil have been the dominant players in the shipping industry for a long time, and they will continue to serve as a reference point for pricing and decision-making.

He also highlighted the need for optionality and flexibility in the marine fuel supply chain, as shipowners and operators are now building dual-fuel vessels to have the ability to use different types of bunker fuels. 

As a Singapore-based bunker supplier, EMF is also trying to offer multiple fuel solutions to cater to this demand for optionality.

“However, we also realise it is very capital intensive to offer multiple fuel solutions, and that’s why we are also embracing the spirit of collaboration. We’re working with different people to offer different kind of fuel products to the shipping sector,” shared Mr Choong.

“Besides methanol, we are working with some of our suppliers to offer B24 biofuel as well. We are in the process of locking in the key components for B24 to create a consistent blend and specifications for customers.”

Mahua Argus

Mahua Chakravarty, Editor, Marine Fuels (Asia) at Argus Media, also moderator for the panel discussion session, provided an overview of the current fuel landscape in Singapore, highlighting the growth in B24 (biofuel blend) and liquefied natural gas (LNG) consumption as a bunker fuel.

B24 consumption in Singapore has seen significant growth, increasing from around 110,000 metric tonnes (mt) in 2022 to over 500,000 mt in 2023, with further expected growth in 2024.

She observed B24 prices in 2023 were initially more aligned with conventional marine fuels. However, as liquidity in the B24 market improved, the prices started to diverge and become more independent.

In fact, B24 prices saw a 9.3% year-on-year decline in line with biofuel prices, indicating a more market-driven pricing mechanism.

 Argus Consulting

Argus Consulting

Looking ahead, Argus Consulting forecasts that the B24 premium will rise further in 2025 as demand increases, driven by regulations like Fuel EU Maritime, Mahua said.

“We do see that the premiums are really holding up as we go into 2025 due to the uptake of biofuels as a marine fuel. Biofuels being the easy solution, are a drop-in solution for shipowners,” she explained.

“Although prices of Brent, VLSO and HSFO have been quite firm, the premiums of B24 [versus VLSFO] have really been driven a lot by consumption.”

 

Photo credit: Manifold Times
Published: 15 October

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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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