Connect with us

Alternative Fuels

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.

Admin

Published

on

1 18

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

Continue Reading

LNG Bunkering

Singapore: FueLNG achieves 400th LNG bunkering operation milestone

Bunker tanker “FueLNG Bellina” successfully delivered LNG bunker fuel to “BYD Shenzhen”, the world’s largest LNG-fuelled car carrier at Singapore anchorage during its maiden voyage.

Admin

Published

on

By

Singapore: FueLNG achieves 400th LNG bunkering operation milestone

Singapore’s licensed LNG bunker supplier FueLNG on Thursday (15 May) announced the successful completion of its 400th LNG ship-to-ship (STS) bunkering operation in the republic.

FueLNG, a joint venture between Keppel Offshore & Marine and Shell Eastern Petroleum Pte Ltd, marked the milestone with bunker tanker FueLNG Bellina successfully refuelling BYD Shenzhen, the world’s largest LNG-fuelled car carrier, at Singapore anchorage during its maiden voyage.

“With a capacity of 9,200 vehicles and equipped with dual-fuel LNG propulsion, the BYD SHENZHEN represents the next generation of low-emission maritime transport,” it said in a social media post. 

Shell said it supported BYD Shenzhen on its maiden voyage as the supplier of the LNG bunker fuel. 

“Like all LNG dual fuel vessels, BYD Shenzhen is on the pathway to net zero emissions. She can take bio-LNG, and in the future e-LNG, in her fuel mix for further emission reduction and regulatory compliance,” it said in a separate social media post. 

 

Photo credit: Shell
Published: 16 May, 2025

Continue Reading

Biofuel

Hong Kong: CPN hits new record for China’s largest B24 biofuel bunkering operation

Chimbusco Pan Nation delivered 6,300 mt of B24-VLSFO in Hong Kong to boxship “XIN LOS ANGELES” on 15 May, exceeding its previous record of 5,500 mt delivered in February 2025.

Admin

Published

on

By

Hong Kong: CPN hits new record for China's largest B24 biofuel bunkering operation

Hong Kong-based bunker supplier Chimbusco Pan Nation Petro-Chemical (CPN) on Friday (16 May) said it has set a record for China’s largest B24 marine biofuel bunkering operation.

CPN said it delivered 6,300 metric tonnes (mt) of B24-VLSFO in Hong Kong to container ship XIN LOS ANGELES on 15 May. 

The supply exceeded CPN’s previous record of 5,500 mt delivered to the same ship in February 2025.

“This collaboration reinforces CPN’s ability to execute large-scale marine biofuel bunkering with precision and reliability,” the company said in a social media post.

“By consistently supplying large volumes of B24 marine biofuel, CPN supports reduced carbon emissions and sustainable shipping practices globally.”

Related: CPN achieves largest B24 bio bunker fuel delivery in Hong Kong and China

 

Photo credit: Chimbusco Pan Nation Petro-Chemical
Published: 16 May, 2025

Continue Reading

Alternative Fuels

St1 delivers first locally produced biomethane to Swedish maritime sector for bunkering

St1 and its venture St1 Biokraft delivered their own Swedish-produced liquefied biomethane to Terntank’s vessel “Tern Ocean” in a bunkering operation at Port of Gothenburg.

Admin

Published

on

By

St1 delivers first locally produced biomethane to Swedish maritime sector for bunkering

Finnish energy company St1 and its venture St1 Biokraft delivered their own Swedish-produced liquefied biomethane, also known as bio-LNG, to the local maritime sector for the first time, according to Port of Gothenburg on Thursday (15 May). 

Terntank’s vessel Tern Ocean was bunkered with the biomethane at the Port of Gothenburg. 

St1 and St1 Biokraft are now aiming to become large-scale suppliers of biomethane for shipping, while the Port of Gothenburg continues to pursue its goal of becoming Scandinavia’s primary bunkering hub for alternative fuels.

The bunkering operation recently carried out at quay 519 in the Port of Gothenburg was an important pilot test for St1 and St1 Biokraft as suppliers of biomethane to the maritime sector. The operation also served as a pressure test of the collaboration required across all parts of the value chain, with Terntank, gas infrastructure owner Nordion Energi, and the producers themselves all playing crucial roles.

“In order to accelerate the maritime sector’s transition, it is essential that all actors across the value chain pull in the same direction, cooperate, and translate ambitions into practice. We are pleased to have all of this in place at the Port of Gothenburg,” said Therese Jällbrink, Head of Renewable Energy at the Port of Gothenburg.

“Liquefied biomethane is an important part of the fuel palette that must be available to support the shipping industry’s transition. It is one of the fuels the Port of Gothenburg is working with within the framework of green shipping corridors, aimed at creating the conditions for fossil-free logistics chains. This bunkering operation brings us another step closer to our ambition of becoming Scandinavia’s primary bunkering hub for alternative fuels.”

St1 and St1 Biokraft have ambitions to become large-scale suppliers of liquefied biomethane for the maritime sector, with several new production facilities planned across Sweden.

In 2026, energy infrastructure company Nordion Energi will build a liquefaction facility for biomethane at the Port of Gothenburg, which will be connected to the West Sweden gas grid. With the facility in place, a new opportunity will be created for biomethane producers connected to the gas network to reach the maritime market.

“Once the liquefaction plant is completed, we will have a solid solution in place at the Port of Gothenburg. This is a strategic step towards our goal of scaling up and offering competitive liquefied biomethane to the shipping sector, thereby taking a leading position in this segment,” said Ted Gustavsson, Head of Value Chain at St1 Biokraft.

 

Photo credit: Port of Gothenburg
Published: 16 May, 2025

Continue Reading

Trending