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Sing Fuels: Prime’s Bunkers acquisition marks beginning of growing global independent brokerage partners

Firm hopes to leverage partnership in Greece as a springboard to expand into neighbouring and overseas markets including Europe and China, says Robin Van Elderen, Regional Head Bunkers, Europe, Sing Fuels.

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In an exclusive interview with Manifold Times, Robin Van Elderen, Regional Head Bunkers, Europe, Sing Fuels Pte. Ltd. on Wednesday (29 June) revealed more about the firm’s recent move in acquiring the assets of independent bunker-buying management service Prime’s Bunkersplus Services L.P based in Athens, Greece. 

MT: How did this development come about? How long did negotiations take? During the Covid era what issues were there in communication and what were the solutions?

As a global energy trading firm, Sing Fuels aspires further global expansion, and we believe that for many markets the fastest way for us to grow is through acquisitions of businesses that share the same approach and values as we do and bring deep local insights and connections. The partnership is the first step in Sing Fuels’ plans to grow a global alliance of independent brokerage partners, with deep knowledge and specialism in their respective markets, working together to provide an alternative to larger global competitors.

An established and well-connected player in the Greek shipping market, Prime’s Bunkers, led by Founder Irene Notias, is a long-time associate of Sing Fuels. Prime’s Bunkers’ local expertise and connections will enable Sing Fuels to grow in depth and extend its reach to create stronger ties and relationships in local markets and consolidate its business across the different markets, while diversifying potential risks the company could be exposed to.  

Against the backdrop of the COVID-19 pandemic and the evolving market landscape, the long-standing relationship between our companies provided strong fundamentals to deepen our partnership and we found the process to be very smooth given our shared ethos and vision.  

MT: What are the benefits for Sing Fuels, in terms of expansion strategy, services for clients, and business opportunities, of an expansion to Greece?

Greece is one of the world’s largest shipping markets and an important strategic location. The partnership with Prime’s Bunkers marks our entry into Greek market, which will be its sixth geographical location after Singapore, South Africa, the United Arab Emirates, the United Kingdom and the United States.

We hope to use this partnership in Greece as a springboard to expand into the neighbouring and overseas markets which includes Europe and China, as well as expand our product portfolio. 

Traditionally in the past we have expanded by opening offices in new markets and countries and hiring individual traders. The research and analytics we gathered during the pandemic has taught us that to grow in depth, extending our reach to create stronger ties and relationships in local markets, such as what we have done with our partnership with Prime’s Brokers. 

Post-acquisition, the company will continue to offer a strong local alternative to the shipping customer base, leveraging Prime Bunkers’ independent broking bunker-buying management services.

MT: How does the acquisition of Prime’s Bunkers reflect these values of Sing Fuels?

Both companies have roots as brokerage firms, and Sing Fuels’ is a long-time associate of Prime’s Bunkers. While the Prime’s Bunkers team is relatively small, they have consistently been achieving steady growth and are well established as a key player in the region. 

This agreement is built on the foundation of our shared and deep commitment to operational excellence, and we believe there are significant opportunities to capture more market share with a proactive approach to after service, and drive our growth through this global alliance.  

MT: How does the acquisition commercially help Prime’s Bunkers? What do they get out of it?

Irene will lead the Greece office for Sing Fuels, becoming Country Manager. Irene is a prominent figure in both the Greek community and domestic shipping industry. With her knowledge and familiarity with the markets, and innovative and customer-centric outlook and approach, she will be instrumental in helping us to shape the trajectory and growth of the business in the region.  

With the acquisition of Prime’s Bunkers brand, goodwill and assets, this partnership will allow us to augment our collective capabilities to deliver outstanding customer service to key stakeholders in the region. At the same time, Prime’s Bunkers will also be able to scale and grow the business through leveraging Sing Fuel’s vast network and resources. 

Following the deal, Prime’s Bunkers will continue to operate under the name of Sing Fuels Pte. Ltd. (Hellas). Investment will be made to increase the company’s current headcount, adding more traders, and broadening its service offering in Greece.

MT: After the acquisition, what is the total headcount for Sing Fuels?

Our continued business expansion as part of this partnership – including the number of staff, penetration of segments and marine products – will be executed in a timely manner and supported by a business plan. Recruitment will start immediately with the aim to add more staff to the growing team.

MT: Moving forward, and on the back of IMO 2030/2050, what are the future developments in the pipeline for Sing Fuels?

We are continually exploring opportunities to expand to other markets and diversify our business as part of our development strategy. Not restricted by the competitive nature of the industry, Sing Fuels has steadily expanded its market presence into South Africa, the United Arab Emirates, United Kingdom, and the United States, since the company’s inception in 2012. 

Business diversification has allowed Sing Fuels to stay relevant in an industry with relatively uniform offerings. For instance, the company has also entered the lubricants market for automotive and industrial needs. 

As in many other industries, digitalization and big data is becoming more important in the maritime industry as well. Sing Fuels has embarked on a cycle of transformation, a notable project was the implementation of an ERP system with API connectivity to the data and credit agencies which aids Sing Fuels to make informed decisions based on data. We will have a Chief Innovation and Sustainability Officer join the business at the end of Q3, 2022 to drive our digital agenda.

At the same time, we are also embedding practical sustainability measures into key operational areas of our business. As a company, we are committed to investing to stay ahead on all new and alternative fuels to ensure that our products and services continue to meet our customers’ needs and are able to support them in realising their sustainability goals.

This is in line with the International Maritime Organisation’s decarbonisation ambitions, and we are actively exploring alternate platforms for championing investments in liquid ammonia, green hydrogen, low carbon vessels, and carbon capture technologies.

Related: Sing Fuels to acquire Prime’s Bunkersplus Services in Greece

 

Photo credit: Sing Fuels Pte. Ltd.
Published: 30 June, 2022

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Alternative Fuels

Yang Ming orders six LNG dual-fuel, ammonia-ready containerships from Hanwha Ocean

Each of the six new vessels will have a capacity of up to 13,650 TEU and feature LNG dual-fuel propulsion and Ammonia Fuel Ready specifications.

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Yang Ming orders six LNG dual-fuel, ammonia-ready containerships from Hanwha Ocean

Taiwanese shipping firm Yang Ming Marine Transport Corporation (Yang Ming) and South Korean shipbuilder Hanwha Ocean on Wednesday (2 September) signed a shipbuilding contract for six 13,000 TEU class LNG dual-fuel container vessels. 

The contract was signed by Dr. Chuck Tsai, Chairman of Yang Ming, and Mr. Charles Kim, CEO of Hanwha Ocean. The vessels are scheduled for delivery between 2028 and 2029. 

They will complement Yang Ming’s existing fleet of 10,000+ TEU vessels and serve as key vessels on East-West services, with deployment flexibility across trade lanes connecting Asia with the East and West Coasts of North America, South America, and the Mediterranean. 

Each of the six new vessels will have a capacity of up to 13,650 TEU and feature LNG dual-fuel propulsion and Ammonia Fuel Ready specifications.

“As Yang Ming transitions toward net-zero emissions, LNG provides a relatively mature and economically viable alternative fuel solution, capable of reducing greenhouse gas emissions by approximately 20%,” the company said. 

“At the same time, ammonia can serve as a carbon-free fuel by utilising converted LNG storage facilities, while offering relatively lower conversion costs and comparatively well-developed supply chains and infrastructure. The Ammonia Fuel Ready design will therefore provide Yang Ming with greater flexibility in responding to increasingly stringent international regulations on greenhouse gas emissions.”

In addition, the vessels will be equipped with Type B LNG fuel tanks with a design pressure of 1.0 bar to enhance the safety and efficiency of LNG operations, together with a range of energy-saving technologies, including Wind Shields, Rudder Bulbs, Pre-Swirl Stators, and Shore Power Systems. Smart ship technologies and cybersecurity protection features will also be incorporated to enhance operational efficiency, safety, and reliability while effectively reducing fuel consumption and greenhouse gas emissions.

Deliveries under Yang Ming’s next-generation fleet optimization plan commenced earlier this year. By 2030, a total of 24 new vessels are expected to enter service. 

This includes 18 LNG dual-fuel vessels—comprising five 15,500 TEU, seven 16,000 TEU, and the six 13,000 TEU vessels under this contract—alongside six 8,000 TEU methanol dual-fuel-ready ships. 

 

Photo credit: Yang Ming Marine Transport
Published: 4 September, 2026

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LR, China’s MARIC unveil tanker concept ready for three future bunker fuels

Both secured AiP for a new 114,000 DWT product and crude oil tanker designed to accommodate future conversion to LNG, methanol or ammonia.

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LR, China’s MARIC unveil tanker concept ready for three future bunker fuels

Lloyd’s Register (LR) and the Marine Design and Research Institute of China (MARIC) on Thursday (3 September) have secured Approval in Principle (AiP) for a new 114,000 DWT product and crude oil tanker designed to accommodate future conversion to LNG, methanol or ammonia.

Announced at SMM 2026, the concept addresses one of the biggest investment challenges facing shipping today: the need to develop vessels and capabilities that can support a range of alternative fuel options and pathways as technologies, infrastructure and regulations evolve.

While LNG is already a mature fuel pathway, methanol and ammonia remain at an earlier stage of development, with questions around global fuel availability, infrastructure development, economics and long-term adoption.

The 114,000 DWT tanker concept has been designed as a product and crude oil carrier that can accommodate future conversion to LNG, methanol or ammonia as technologies, regulations and fuel supply chains mature. By incorporating conversion readiness at the design stage, the concept aims to reduce future retrofit complexity and provide owners with greater confidence when planning long-term fleet investments.

The design concept was reviewed against LR’s July 2026 class rules and regulations, including requirements relating to ships using gases and other low-flashpoint fuels, alongside relevant IACS Common Structural Rules for oil tankers. Final classification and statutory approval remain subject to full compliance with all applicable rules and regulations.

Theo Kourmpelis, Global Business Director for Tankers, Lloyd’s Register, said: “Shipowners are being asked to make major investment decisions today despite continued uncertainty around which fuels will dominate in the decades ahead. Alternative fuel solutions each offer potential pathways to compliance, but fuel infrastructure, regulation and economics continue to evolve at different speeds around the world.

“Designs that preserve flexibility will be critical in helping owners manage risk while preparing for multiple future scenarios.”

Si Nan, Marine & Offshore Marketing Department Vice Director, MARIC, said: “As the industry explores different decarbonisation pathways, shipowners need vessel designs that can adapt alongside technological and regulatory developments. This concept was developed specifically to provide greater fuel flexibility and long-term resilience, allowing owners to respond to changing market requirements without being locked into a single fuel strategy.

“Receiving Approval in Principle from Lloyd’s Register is an important milestone that validates the design concept and supports its future development.”

 

Photo credit: Lloyd’s Register
Published: 4 September, 2026

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DNV: Alternative-fuelled vessel orders hit highest monthly level since October 2024

LNG-fuelled vessels accounted for the vast majority of August activity while the strong summer performance marked a significant acceleration in ordering activity after a relatively slow start to the year.

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DNV: Alternative-fuelled vessel orders hit highest monthly level since October 2024

Latest data from classification society DNV’s Alternative Fuels Insight (AFI) platform alternative-fuelled vessel ordering was strong in August, with 52 new vessels added to the platform.

This is the highest monthly total since October 2024 and follows another active month in July, when 47 vessels were added to the database.

LNG-fuelled vessels accounted for the vast majority of August activity, with 46 orders recorded. The container segment led the way with 30 orders, while the car carrier segment contributed a further 12 LNG-fuelled vessels. In addition, four ethanol-fuelled bulk carriers and two hydrogen-powered bulk carriers were added during the month, as well as one LNG bunker vessel.

The strong summer performance marked a significant acceleration in ordering activity after a relatively slow start to the year. In total, 242 alternative-fuelled vessel orders have been placed in the first eight months of 2026, representing a 27% increase compared with the same period in 2025.

LNG remains the dominant fuel choice, accounting for 63% of all alternative-fuelled vessel orders registered so far this year. Container vessels represent the largest share of these LNG orders (59%), followed by car carriers (30%).

Jason Stefanatos, Global Decarbonization Director at DNV Maritime, said: “The past two months have been particularly strong for alternative-fuelled vessel ordering, with August recording the highest monthly total we’ve seen since October 2024. This has helped lift year-to-date orders to a level well above the same period last year.

“LNG remains the leading fuel choice, driven largely by activity in the container and car carrier segments. These sectors have been among the earliest adopters of alternative fuels, supported by predictable liner operations and increasing demand from cargo owners to reduce emissions across supply chains. 

“For many owners, LNG offers a combination of emissions reductions, fuel availability and future flexibility while the longer-term fuel landscape continues to evolve. 

“At the same time, the latest figures include orders for ethanol- and hydrogen-fuelled vessels, highlighting that owners continue to explore a range of decarbonization pathways. Different segments are making different fuel choices, but the overall level of activity demonstrates continued investment in lower-emission shipping.”

Screenshot 2026 09 04 at 12.29.26 PM Screenshot 2026 09 04 at 12.29.36 PM

 

Photo credit: DNV
Published: 4 September, 2026

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