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Sing Fuels-backed 129Knots and GLDB to address multi-billion dollar marine fuel liquidity gap

With a finance programme, 129Knots and GLDB aim to tackle the liquidity gap, which persists today despite marine fuel costs representing one of the most significant operating costs in the marine industry.

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Sing Fuels-backed 129Knots and GLDB to address multi-billion dollar marine fuel liquidity gap

Singapore-based fintech venture 129Knots on Friday (25 July) said it has joined forces with Green Link Digital Bank (GLDB) to launch a global embedded finance programme aimed at unlocking liquidity in the marine fuel industry. 

129Knots was launched in February with a USD 10 million investment led by Singapore’s homegrown bunker trader Sing Fuels. 

In the first stage of this strategic initiative, using 129Knots Origination-to-Distribution (OTD) platform, eligible borrowers across the global marine fuel sector will be able to access working capital financing lines.

Marine fuels is one of the most significant operating costs in the marine industry, where operating expenditure is three to five times compared to capital cost of a vessel over its lifecycle. Despite its scale and significance, the fuel operating cost structure of the marine industry has historically been overlooked and excluded by conventional financing models. This has created a structural, multi-billion dollar liquidity gap which persists today and that is what 129Knots and GLDB are addressing with this initiative.

This partnership marks a first-of-its-kind move in the industry to introduce a liquidity framework tailored to the operational demands of the marine industry and its stakeholders. Delivered through 129Knots’ OTD platform, industry participants can now access institutional-grade liquidity, structured receivables financing, and programmable credit solutions embedded within their transaction flow. Starting with marine fuels today, 129Knots OTD platform and ecosystem is built for the future, scaling to offer holistic solutions across alternative fuels procurement, energy transition financing and related long term CAPEX requirements.

Looking ahead, the partnership is being developed to support a broader suite of next-generation financial products, such as stablecoin-based settlements, and programmable payment instruments. These solutions, enabled by 129Knots, will enhance transparency and connectivity across procurement, financing, and settlement processes for GLDB.

Vikash Dhanuka, Founder and Group CEO at 129Knots, said: “The marine fuel industry has long relied on fragmented financing and informal credit, limiting transparency and scale. Together with GLDB, we are enabling capital to move seamlessly across this value chain. This partnership solves the perennial problem of credit accessibility in the marine fuel industry. It also marks the first step toward filling a multibillion-dollar gap by building a new asset class that brings structure and scalable opportunity to every participant.”

Melvin Teo, Chief Executive Officer at Green Link Digital Bank, said: “At GLDB, we are committed to transforming how businesses manage their cash flow and supply chain financing. Through Embedded Financing partnership with 129Knots, we are breaking down traditional barriers and embedding financial solutions right where businesses operate.”

 

Photo credit: 129Knots
Published: 25 July, 2025

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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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