Connect with us

Business

Sing Fuels to acquire Prime’s Bunkersplus Services in Greece

Prime’s Bunkers will continue its operation under the name of Sing Fuels Pte. Ltd. (Hellas); Founder Irene Notias will continue to lead the business.

Admin

Published

on

Sing Fuels logo

Global energy trading firm, Sing Fuels Pte. Ltd. (Sing Fuels) on Tuesday (7 June) said it is acquiring the assets of independent bunker-buying management service Prime’s Bunkersplus Services L.P (Prime’s Bunkers) based in Athens, Greece.

Headquartered in Singapore, Sing Fuels currently has operations in Singapore, South Africa, the United Arab Emirates, the United Kingdom, and the United States. The partnership is the first in the company’s 10-year history, providing it with a foothold into one of the largest shipping markets in the world and strengthening Sing Fuels’ position for further expansion in Europe.

The partnership is also the first step in Sing Fuels’ plans to build a global alliance of independent brokerage and trading partners, with deep knowledge and specialism in their respective markets, and working together to provide an alternative to larger global competitors.

Prime’s Bunkers, which was founded by Irene Notias in 2002, specialises in the Greek shipping market. It focuses on implementing cost-effective, intelligent bunker buying strategies with key decision makers, providing an effective alternative to local major market traders.

Following the deal, Prime’s Bunkers will continue its operation under the name of Sing Fuels Pte. Ltd. (Hellas) and additional investment will be made to increase the company’s current headcount, adding more traders, and broadening its service offering in Greece. Founder Irene Notias will continue to lead the business.

Vikash Dhanuka, Chief Executive, Sing Fuels, said, “We are thrilled to be joining forces with Prime’s Bunkers. Sing Fuels already had a presence in Greece since May21 with Panos Tsikleas coming on board. Irene and her team are well-connected in the Greek shipping market and as long-time associates, our companies share a similar ethos and vision. Bringing together the experience, knowledge and network of both teams will further strengthen our foothold into the local market. We are both deeply committed to operational excellence and believe there is room to capture more market share with our proactive approach and after service.”

He continued, “This partnership is this first of many others we hope to form as part of our strategy to build a global alliance of like-minded independent brokers and traders, who have deep specialisms in their markets, to work together to expand our market share.”

Irene Notias, Founder, Prime’s Bunkers, said, “This partnership is a natural next step for our business. Sing Fuels has been a trusted associate over many years, and we believe their team’s deep experience and resources will be valuable in helping us to scale our offering in Greece and the European region. We are excited about the possibilities of what a global alliance of like-minded partners can offer as this expands in the future. We look forward to working together to continue to raise service and operational excellence standards across our industry.”

 

Photo credit: Manifold Times
Published: 7 June, 2022

Continue Reading

Events

Singapore: OSEA set to take place between 19 to 21 November 2024

Event will bring together more than 500 exhibitors and around 18,000 visitors from 70+ countries.

Admin

Published

on

By

OSEA MT

OSEA is set to take place between 19 to 21 November 2024 at Marina Bay Sands Singapore, leading discussions in the offshore industry on decarbonisation, future of offshore platforms and new energies.

The event will bring together more than 500 exhibitors and around 18,000 visitors from 70+ countries. With a focus on showcasing the latest technologies and sparking insightful discussions, OSEA 2024 offers a platform for industry players to connect, explore, and create new business opportunities in the rapidly evolving offshore energy landscape.

Attendees including government and offshore industry experts will be welcomed by Mr Alvin Tan, Minister of State, Ministry of Culture, Community and Youth & Ministry of Trade and Industry, at the Opening Ceremony on 19 November 2024.

This year’s exhibition floor is a hub for the offshore energy sector, combining oil, gas, and renewable energy exhibitors. Attendees will experience the latest innovations first-hand across 500+ exhibits, engage with cutting-edge products, and explore business possibilities with industry leaders, government officials, and academic experts. OSEA 2024 is designed for meaningful knowledge-sharing, with over 70 speakers addressing critical industry themes.

The event’s agenda will address pivotal questions for the sector’s future, such as Asia’s advancements in carbon capture, utilisation, and storage (CCUS) technology, the role of automation in decarbonisation, and what steps the region must take to build a scalable green hydrogen industry. Fixtures will also tackle policy, supply chain, and development challenges faced by the regional offshore wind industry, as industry leaders, government representatives, and academics explore solutions to these pressing issues. Moreover, speakers will explore how the offshore oil & gas industry is delivering on decarbonisation, and how technological advancements help it to go further.

OSEA 2024 also centres on connecting offshore industry professionals through exclusive networking events, including the Executive Networking sessions, the ABS Breakfast Forum, and the OSEA Academy. The Country Hotspot programme will further enhance opportunities for attendees to forge international partnerships and build industry networks, while specific pavilions – TechX, ClimateTech Zone, New-to-Show zone, Institute Higher Learning and Talent & Development Zones – provide insights into emerging technologies and market-specific developments from across the region.

“OSEA has long been committed to fostering collaboration and innovation across the offshore energy sector,” said Prof. Chan Eng Soon, Chairman of OSEA Advisory Committee. "This year’s event focuses on crucial discussions about the future of energy and sustainability, while also offering unparalleled networking and business development opportunities for attendees from around the world.”

Commenting on the opportunities for attendees, Mr. Sukumar Verma, Managing Director, Informa Markets Singapore said, “OSEA 2024 provides a unique forum for attendees to evaluate a wide range of competitive products, source innovative solutions across the energy value chain, and discuss industry challenges with peers from around the globe. For three days, OSEA 2024 will be the central meeting place for the offshore energy industry in Asia and further afield, bringing insights, innovation, and collaborative opportunities to support the industry’s journey towards a more sustainable energy future.”

For more information on OSEA 2024, please visit www.osea-asia.com.

 

Photo credit: Informa Markets
Published: 11 November 2024

Continue Reading

Technology

Digital bunkering platform Ofiniti successfully spun out from DNV

DNV remains the largest shareholder of Ofiniti, with new investment led by a Nordic family fund and Singapore-based maritime venture capital firm ShipsFocus.

Admin

Published

on

By

FuelBoss to continue under new DNV company Ofiniti

Ofiniti, formally known as FuelBoss, a platform for managing marine fuel bunkering operations, has attracted investment from private and venture capital investors as part of its successful spin out from DNV.

With port authorities stepping up their requirements for “digital bunkering”, the new corporate structure will allow it to operate with more agility.

DNV remains the largest shareholder of Ofiniti, with new investment led by a Nordic family fund and Singapore-based maritime venture capital firm ShipsFocus.

“DNV has developed a pathway to progress digital business ideas into new enterprises and incentivise corporate founders.  The fact Ofiniti has attracted such interest from investors is an endorsement of the great service it provides and a vindication of our Venture strategy,” said Kjetil Ebbesberg, DNV Chief Financial Officer.

“ShipsFocus is very pleased to be part of DNV’s startup spinoff in Ofiniti as the choice VC investor. Ofiniti’s flagship FuelBoss bunkering platform has the DNV innate quality and accreditation with its dominance in the LNG market share. We believe the founders will bring it to great heights,” said Chye Poh Chua, Founder of ShipsFocus.

With over 3,000 liquefied natural gas (LNG) deliveries completed since 2021, Ofiniti is a market leader in digitising LNG bunker deliveries and have recently expanded to support digital delivery of all marine fuels on its platform.

By digitising bunker operations and providing electronic Bunker Delivery Notes (eBDNs) Ofiniti’s customers are able to increase the utilisation of their bunker vessels, provide live delivery insights to customers and significantly reduce the time to invoice.

This transformation results in safer, more efficient operations, cutting back-office work and reducing cost of credit.

Digitalisation is becoming increasingly important to the bunkering process as demonstrated by the Maritime Port Authority of Singapore’s plan to make “Digital Bunkering” mandatory from next year.

“Digitalisation of the bunkering industry is set to accelerate rapidly. By spinning out of DNV Ofiniti will be positioned to deliver an independent operational platform and a trusted, experienced partner to support both digital transformation and decarbonisation efforts at the pace that is required,” said Martin Wold, Founder of Ofiniti.

Three DNV employees leave their jobs in DNV to join Ofiniti as full-time founders in addition to new hires in commercial and product development.

Related: FuelBoss to continue under new DNV company Ofiniti
Related: SIBCON 2024: Digitalised LNG bunkering process can help build trust among stakeholders
Related: DNV FuelBoss coverage expands to include conventional bunker fuels, whitelisting by MPA in process
Related: DNV Decarbonisation Insights: FuelBoss paves way into Singapore’s LNG and future marine fuels bunkering sector
Related: DNV GL launches ‘FuelBoss’ – an integrated hub for LNG Bunkering

 

Photo credit: Informa Markets
Published: 11 November 2024

Continue Reading

Alternative Fuels

New agreements inked to advance marine electrification in Singapore

Lita Ocean, SeaTech Solutions, Pascal Technologies, and Evoy will develop a fully electric passenger harbour craft, specifically for Singapore, while Yinson GreenTech and Evoy will develop electric vessels.

Admin

Published

on

By

New agreements inked to advance marine electrification in Singapore

Innovation Norway and Team Norway on Wednesday (6 November) announced two agreements aimed at advancing sustainable maritime solutions, signed at the Singapore Norway Innovation Conference (SNIC) 2024.

The first agreement—a Letter of Intent (LOI)—was signed by Lita Ocean Pte Ltd, SeaTech Solutions International (S) Pte Ltd, Pascal Technologies AS, and Evoy AS, to develop a fully electric high-speed harbour craft specifically designed for Singapore’s maritime landscape. The second agreement—a Memorandum of Understanding (MoU)—was signed between Yinson GreenTech and Evoy, aiming to foster collaboration in marine electrification across Asia. 

The LOI signed between Lita Ocean, SeaTech Solutions, Pascal Technologies, and Evoy marks a key milestone in Singapore’s ongoing efforts to decarbonize its maritime industry. 

The project will develop a fully electric passenger harbour craft, integrating cutting-edge technologies like advanced electric propulsion and air lubrication systems to maximise energy efficiency and performance. This new vessel will set new standards for sustainable harbour operations and support Singapore’s green transformation goals in maritime transportation. 

Evoy sign MOU in Norway Singapore agreement 02

The collaboration builds on previous advancements in electric harbour crafts in Singapore, positioning the project as a critical step toward achieving maritime decarbonisation and a cleaner, greener future for the region. 

Additionally, Yinson GreenTech and Evoy have signed an MoU that will combine their strengths to drive marine electrification in the region. Yinson GreenTech’s electrification solutions, paired with Evoy’s electric propulsion systems, will support the conversion of internal combustion engine (ICE) vessels to electric power and foster the development of new electric vessels. 

This partnership is aimed at advancing the transition to a more sustainable maritime industry, with the shared goal of exploring new opportunities, collaborating on upcoming projects, and playing a key role in the broader transition to greener shipping solutions in Asia. 

The MoU was signed by Jan-Viggo Johansen, Managing Director of marinEV at Yinson GreenTech, and Mads Roland-Glimsholt, Business Development Manager at Evoy. 

“As a proud partner in this Norway-Singapore initiative, Evoy is excited to bring our high-performance electric propulsion systems to Singapore’s maritime landscape. We are committed to setting new standards in sustainable harbour craft and working with our partners to support a greener future in maritime transport” Mads Roland-Glimsholt, Business Development Manager at Evoy. 

 

Photo credit: Evoy
Published: 8 November, 2024

Continue Reading
Advertisement
  • SBF2
  • Aderco advert 400x330 1
  • v4Helmsman Gif Banner 01
  • Consort advertisement v2
  • RE 05 Lighthouse GIF
  • EMF banner 400x330 slogan

OUR INDUSTRY PARTNERS

  • 102Meth Logo GIF copy
  • SEAOIL 3+5 GIF
  • Triton Bunkering advertisement v2
  • HL 2022 adv v1
  • Singfar advertisement final


  • E Marine logo
  • Mokara Final
  • Synergy Asia Bunkering logo MT
  • Auramarine 01
  • PSP Marine logo
  • Uni Fuels oct 2024 ad
  • 300 300
  • Cathay Marine Fuel Oil Trading logo
  • MFA logo v2
  • endress
  • VPS 2021 advertisement
  • Headway Manifold
  • Advert Shipping Manifold resized1
  • 400x330 v2 copy

Trending