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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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Biofuel

BHP and GCMD trial multi-feedstock B100 bio bunker fuel on bulk carrier

Bio-blend in the BHP and GCMD pilot is being used on a BHP-chartered bulk carrier “Berge Lyngor”, which was bunkered in Singapore in early May.

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BHP and GCMD trial multi-feedstock B100 bio bunker fuel on bulk carrier

BHP and the Global Centre for Maritime Decarbonisation (GCMD) on Wednesday (3 June) said they have blended biofuels from two distinct feedstocks—used cooking oil and waste animal fats —and introduced the lower-emissions marine fuel into a BHP-chartered bulk carrier as part of a pilot project.

The bio-blend in the BHP and GCMD pilot is being used on a BHP-chartered bulk carrier Berge Lyngor, owned and operated by Berge Bulk, transporting BHP iron ore from Western Australia to China. When run on bio-blend, the vessel has the potential to reduce well-to-wake greenhouse gas emissions by approximately 79 per cent per voyage compared to sailing on very low sulphur fuel oil (VLSFO).

The vessel bunkered in Singapore in early May with a B100 bio-blend comprising 50 percent tallow-derived biodiesel, sourced and supplied by HAMR Energy, and 50 per cent used cooking oil (UCOME) supplied by Mitsui & Co Energy Trading Singapore (METS).

Mitsui also blended the fuel and Dan-Bunkering coordinated and executed the bunkering operation, which was performed by Global Energy’s barge MT Maple.

The BHP and GCMD pilot will assess how biofuels from multiple feedstocks can be blended, handled, and introduced under real-world operating conditions using existing used cooking oil bunkering infrastructure.

At the same time, insights from this pilot will help identify solutions to challenges related to fuel quality, handling, traceability, and onboard vessel performance.

Biofuels for global shipping today rely heavily on used cooking oil – a feedstock whose availability is approaching its projected limits. Biofuel from waste animal fats presents a promising option to expand the supply of lower-emissions marine fuels.

The outcomes of the pilot are expected to shed light on the practical steps to integrate biofuel blends from different feedstocks into existing supply chains. The diversity of biofuels will provide shipowners and operators with greater flexibility to optimise fuel procurement based on cost, availability, and lifecycle emissions performance.

Biofuels derived from different feedstocks can exhibit varying properties that may impact operations, including potential corrosion from oxidation, fuel system clogging caused by wax formation, which this pilot aims to assess.

The pilot will trace and verify the biofuel blend’s integrity aimed at bolstering confidence in emissions reductions reporting. The pilot will also provide insights into how robust tracing can support future marine fuel supply chains where biofuels from multiple feedstocks with varying lifecycle greenhouse gas emissions footprints are blended together.

This project is co-funded by the Maritime and Port Authority of Singapore under the Maritime Innovation and Technology Fund (MINT).

 

Photo credit: Global Centre for Maritime Decarbonisation
Published: 3 June, 2026

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Biofuel

NYK starts one-year B100 bio bunker fuel trial on car carrier

In this trial, NYK will operate a car carrier continuously on B100 for one year to evaluate the impact on engines, fuel supply systems, and operational practices.

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NYK starts one-year B100 bio bunker fuel trial on car carrier

Japanese shipping firm NYK on Tuesday (2 June) said it has commenced a one-year long-term trial involving the continuous use of 100% biofuel (B100) on an NYK-operated car carrier. 

In this trial, NYK will operate a car carrier continuously on B100 for one year to evaluate the impact on engines, fuel supply systems, and operational practices. High-purity biofuels such as B100 are known to be susceptible to degradation from oxygen, light, and heat, raising concerns about the stability of such fuels during long-term use.

In this trial, the biofuel primarily comprises FAME (Fatty Acid Methyl Ester) derived from used cooking oil and similar feedstocks.

The initiative is designed to evaluate the fuel’s effects on the vessel’s equipment and verify operational safety under real-world conditions. 

Through this effort, NYK seeks to accumulate technical expertise that will support the broader use of high-purity biofuels and further accelerate efforts to reduce greenhouse gas (GHG) emissions.

NYK has been advancing the use of biofuels through various initiatives. In 2024, the company conducted a trial using biofuel blend B24 and subsequently expanded practical usage to B30. However, the company said there remains limited global experience with the long-term continuous use of B100.

“By collecting long-term operational data through this trial, NYK aims to accumulate valuable technical insights to support both the safe operation of vessels and the wider adoption of high-purity biofuels,” it said. 

 

Photo credit: NYK
Published: 3 June, 2026

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Ammonia

AM Green plans to build green ammonia plant at Indian port

Initiative also includes development of green ammonia handling, storage and bunkering infrastructure, pilot bunkering operations, safety procedures and training programmes, says VOC Port Authority.

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VO Chidambaranar (VOC) Port Authority on Friday (29 May) said it has signed a Memorandum of Understanding (MoU) with India’s ammonia producer AM Green Ammonia to collaborate in the development of a green ammonia production plant.

The plant will have a capacity of one million tonnes per annum (MTPA) at Tuticorin.

The initiative also includes development of green ammonia handling, storage and bunkering infrastructure, pilot bunkering operations, safety procedures and training programmes. 

The project is expected to support the development of green fuel corridors connecting VOC Port with major ports in Europe and Asia, thereby strengthening India’s position in the global green fuels value chain.

VOC Port also signed a Memorandum of Understanding (MoU) with Bureau Veritas (India) Pvt. Ltd., to collaborate on Green Port certification, emissions accounting, ESG reporting, safety validation, development of green bunkering practices, and establishment of a Centre of Excellence for green fuels and sustainability.

The port also plans for an upcoming 750 m³ green methanol bunkering facility.

 

Photo credit: Naveed Ahmed on Unsplash
Published: 3 June, 2026

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