Business

Signal Group launches tech enabled bunker procurement company Shipergy

Shipergy will initiate operations with the bunker requirements of the Signal Maritime pools and is planning to extend procurement services to selected third parties.

Published

3 years ago

July 1, 2022

Admin

Diversified shipping services company Signal Group on Thursday (30 June) said it has launched Shipergy, an innovative bunker procurement company.

The new company is led by former LQM CEO, Daniel Rose and operates from offices in London and Athens.

Shipergy will initiate operations with the bunker requirements of the Signal Maritime pools. Taking advantage of economies of scale and operational efficiencies, the new entity will also look to extend procurement services to selected third parties.

Using its team’s expertise, Shipergy will place immediate emphasis on the quality of the procured bunkers and the sourcing process.

Leveraging the Signal Group’s technology stack and digital pedigree, Shipergy’s vision is to progressively become the most advanced bunker procurement company that is well positioned to play a role in the shipping industry’s evolution towards decarbonisation and efficiency.

Shipergy will now begin building its own services that will deliver greater value to the Signal pools and external companies in the future.

Despite the creation of a new entity, there will be no change in operational personnel at Signal Maritime. Signal’s incumbent bunker procurement team will now handle procurement through Shipergy, and additional staff will be added in the near future to increase operational bandwidth.

The Group’s main fuel suppliers were informed of the changes in February this year, and all credit lines have been switched to the new entity, which has been operational since 27 June.

Daniel Rose, CEO of Shipergy said: “I am delighted to be leading a new company within the Signal Ecosystem. Sourcing on-spec bunkers at the right place, at the best price, is critical to the success of Signal’s pools. Looking to the future, we see challenges and opportunities from the decarbonisation and digitisation of the shipping industry. The bunkering sector is still adapting to these challenges, but by building a bunker procurement business within the domain of one of the shipping industry's most prestigious and forward-thinking groups, we intend to be a catalyst for change over the coming years.”

Panos Dimitracopoulos, CEO of Signal Maritime added: “This is another important milestone in our development and will significantly add value to the service we provide to our pool members. Being able to call upon a highly efficient, transparent and quality controlled bunker procurement operation is critical to our business and positions us to face the challenges of fuel transition in the shipping sector.”

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Photo credit: Signal Group
Published: 1 July, 2022

LNG Bunkering

China: Ningbo Zhoushan Port completes first LNG bunkering operation for 2025

Bunkering vessel “Hai Yang Shi You 302” supplied more than 10,000 cubic metres of LNG bunker fuel to containership “MSC Adya” at the Ningbo-Zhoushan Port port on 5 January.

Published

3 days ago

January 10, 2025

Admin

China: Ningbo Zhoushan Port completes first LNG bunkering operation for 2025

Zhejiang Pilot Free Trade Zone Zhoushan Area on Wednesday (8 January) said Ningbo-Zhoushan Port successfully completed its first LNG bunkering operation for the year.

Bunkering vessel Hai Yang Shi You 302 supplied more than 10,000 cubic metres (m3) of LNG bunker fuel to containership MSC Adya at the port on 5 January.

Zhejiang Seaport International Trading, the bunker supplier for the operation, successfully obtained the Zhoushan Anchorage LNG bunkering licence in June 2024, extending refuelling services from dock to sea.

The company’s services cover Meishan, Chuanshan, Daxie and other port areas.

As China's first river-sea LNG transport and bunkering ship, Hai Yang Shi You is currently placed permanently at Ningbo Zhoushan Port, providing a variety of bunkering methods such as ship-to-ship and ship-to-shore.

Zhejiang Seaport International Trading will continue to expand the scope of bonded LNG bunkering operations and new alternative fuels such as green methanol, ammonia and biofuels in the Zhoushan Area.

Photo credit: Zhejiang Pilot Free Trade Zone Zhoushan Area
Published: 10 January, 2025

Business

Shandong Port Group bans US-sanctioned tankers from entering its ports

Group has prohibited ports to dock, unload or provide ship services to vessels on the Office of Foreign Control list managed by the US Department, according to a Reuters news report.

Published

3 days ago

January 10, 2025

Admin

Shandong Port Group bans US-sanctioned tankers from entering its ports

China’s Shandong Port Group has reportedly blocked tankers affected by US sanctions from entering its ports, according to an exclusive news report by Reuters on Wednesday (8 January).

Citing a notice from the port, which was issued on 6 January and shared to Reuters by traders, the Group has prohibited ports to dock, unload or provide ship services to vessels on the Office of Foreign Control list managed by the US Department.

In another notice released on 7 January, the ban came after sanctioned tanker Eliza II unloaded at Yantai Port in early January.

Shandong Port operates major ports on the east coast of China including Qingdao, Rizhao and Yantai, which are major terminals for importing sanctioned oil.

The traders said the ban could slow imports into China, the world’s largest oil importing nation, and increase shipping costs.

Photo credit: Shandong Port Group
Published: 10 January, 2025

Business

US DoD designates COSCO Shipping and CNOOC as ‘Chinese military companies’

COSCO Shipping has responded that the company and its subsidiaries ‘have consistently adhered to local laws and regulations, maintaining strict compliance in all international operations’.

Published

3 days ago

January 10, 2025

Admin

China: Cosco Shipping and bp to explore collaboration into methanol bunker fuel

The US Department of Defense (DoD) on Tuesday (7 January) has added China’s state-owned shipping company COSCO Shipping and two of its subsidiaries to its list of companies for allegedly having links to the Chinese military.

The subsidiaries are COSCO SHIPPING (North America) and COSCO SHIPPING Finance.

DoD released the update to the names of "Chinese military companies" operating directly or indirectly in the United States in accordance with the statutory requirement of Section 1260H of the National Defense Authorisation Act for Fiscal Year 2021. The Department said it will update the list with additional entities as appropriate.

Updating the Section 1260H list of "Chinese military companies" is an important continuing effort in highlighting and countering the People’s Republic of China's (PRC) Military-Civil Fusion strategy, DOD added.

The list also included other Chinese shipping-related companies such as shipbuilders China Shipbuilding Trading and China State Shipbuilding Corporation, oil company China National Offshore Oil Corporation (CNOOC), CNOOC China and CNOOC International Trading.

Shipping container manufacturer China International Marine Containers (CIMC) was also included on the list of companies.

In a response to the move, COSCO Shipping said it has noted the recent inclusion of the company and its subsidiaries to the sanctions list.

“COSCO Shipping and its subsidiaries have consistently adhered to local laws and regulations, maintaining strict compliance in all international operations,” it said on its website.

“We remain committed to facilitating global trade and providing high-quality commercial shipping and logistics services to clients worldwide, including agricultural producers, manufacturers, energy firms, retailers, and exporters in the United States.”

“We emphasise that none of the aforementioned companies are ‘Chinese military companies’. We will engage with U.S. authorities to clarify this matter. This designation does not impose sanctions or export controls, and our global operations will continue uninterrupted.”

Photo credit: COSCO Shipping
Published: 10 January, 2025