Bunker Fuel

Singapore achieves milestone with record year for bunker sales in 2023

A total of 51.82 million tonnes of bunker sales was registered in 2023, surpassing the previous record of 50.64 million tonnes in 2017, says Mr Chee Hong Tat, Acting Minister for Transport.

Published

3 years ago

January 15, 2024

Admin

Singapore achieves milestone with record year for bunker sales in 2023

A total of 51.82 million metric tonnes (mt) of bunker sales was registered in 2023, surpassing the previous record of 50.64 million mt in 2017 – reflecting Singapore’s support to the global shipping community as a bunkering hub, according to Mr Chee Hong Tat, Acting Minister for Transport, on Friday (12 January).

Of this, 1.2% is alternative fuels and this is expected to continue with good growth prospects in the coming year

Chee was announcing a record year in 2023 for Maritime Singapore at Singapore Maritime Foundation (SMF) New Year Conversations event.

He said Singapore has made good progress in the supply of alternative fuels and the electrification of harbour craft to support maritime decarbonisation and transformation.

“Bunker sales of biofuel blends increased to 520,000 tonnes, which more than tripled from 140,000 mt in 2022. Biofuel blends of up to B30 are commercially available, while trials of up to B100 are on-going. Liquefied natural gas bunker sales amounted to 110,000 mt in 2023, up from 16,000 mt in 2022,” Chee said in a statement.

In July 2023, the Maritime and Port Authority of Singapore (MPA) successfully conducted the world’s first ship-to-containership methanol bunkering operation, where about 300 mt of green methanol was supplied for the first time in the Port of Singapore. New fully electric 200-pax passenger ferries and supply vessels were deployed in 2023, operating within port waters to support our maritime ecosystem.

The annual vessel arrival tonnage in the Port of Singapore crossed three billion Gross Tonnage (GT) for the first time, increasing by 9.4% over 2022 and setting a high of 3.09 billion GT in 20231.

This reflects growth in all segments of our port ecosystem, including container ships, dry bulk carriers, liquid bulk and chemical tankers, ferries and specialised vessels, amidst a global trade slowdown.

“The strong 2023 performance is largely attributed to the recovery in regional trade and the robust tripartite co-operation among the unions, industry and government to consistently enhance the efficiency, reliability and safety in the Port of Singapore,” Chee added.

Singapore Grows as an International Maritime Centre

As a leading International Maritime Centre, Singapore is home to more than 180 international shipping groups as well as other maritime players in finance, insurance, cybersecurity, shipbroking, law and arbitration.

Last year, total business spending by key maritime companies overseen by MPA exceeded SGD 4.8 billion, up from SGD 4.3 billion in 2022. 25 maritime companies established or expanded their operations in Singapore last year. These include maritime services companies and companies setting up sustainability desks in Singapore as part of their decarbonisation strategy and growth plans.

MPA is working with industry, researchers and the investment community to grow the Marine Technology (MarineTech) ecosystem. The number of start-ups under Port Innovation Ecosystem Reimagined @BLOCK71 (PIER71TM) has grown from 17 in 2018 when PIER71TM was launched, to 116 today – up from 99 in 2022. These start- ups have raised over SGD 68 million in investment since 2018. MPA will continue to work with its partners to reach the goal of 150 MarineTech start-ups in Singapore by 2025.

Singapore retained its lead as the world’s top maritime centre in the Xinhua- Baltic International Shipping Centre Development Index for the 10th consecutive year in 2023. The Port of Singapore was also named best global seaport for the third straight year and best Asian seaport for the 35th time at the Asian Freight, Logistics and Supply Chain Awards.

Key Initiatives for a Future-ready Maritime Singapore

Accelerating Maritime Decarbonisation on Multiple Fronts

To date, Singapore has established four Green and Digital Shipping Corridors (GDSC) serving as valuable platforms for the piloting and trial of alternative fuels as well as digital solutions to support the transformation of the maritime sector

In April 2023, MPA established the GDSC with the Port of Los Angeles and Port of Long Beach. In December 2023, two MoUs were signed to establish the Tianjin-Singapore GDSC and Japan-Singapore GDSC covering six Japanese ports.

To position Singapore as the maritime green finance hub to support the energy transition, MPA launched an Expression of Interest (EOI) in October last year, inviting financial institutions and intermediaries, as well as marine insurance providers and brokers, to submit proposals to accelerate the adoption of electric harbour craft in Singapore. The evaluation of the proposals is on-going.

New standards supporting vessel electrification, cybersecurity, and the use of new bunker fuels such as methanol and ammonia are under development. In 2022, MPA and the Energy Market Authority jointly issued an EOI for ammonia power generation and bunkering which attracted 26 proposals. The second selection phase is on-going.

Driving Digitalisation with Industry and Research Institutes

To boost the efficiency and transparency of bunkering delivery documentation and workflow in the Port of Singapore, MPA implemented the Digital Bunkering initiative in November 2023.

To date, four solution providers have been approved by MPA, and three bunker suppliers and barge operators have commenced digital bunkering operations. More companies are expected to be on-boarded in the coming year. MPA will continue its efforts to gather feedback and drive early adoption.

When fully implemented, digital bunkering is expected to save up to 40,000 man-hours annually.

Maritime drone services present significant opportunities for Maritime Singapore to improve the operational efficiency of port services and reduce carbon footprint. In 2023, MPA worked with multiple drone operators to deploy drones to enhance the situational awareness and incident management response capabilities in support of the methanol bunkering operation and annual Ferry Rescue Exercise (FEREX) in July and October 2023, respectively. MPA is also studying the development of a Fleet Traffic Management System to track maritime drone activities in our port waters and ensure the safety of our port users.

To deepen local R&D capabilities in smart ship development and green technologies, MPA and the Singapore Maritime Institute awarded a total of SGD 19.3 million in funding to universities and research institutes in 2023 for maritime R&D.

Maritime companies are also growing their technology presence in Singapore and moving into emerging areas and services. In 2023, the American Bureau of Shipping launched its Global Electrification Centre in Singapore to support marine electrification projects across the Asia-Pacific and around the world. thyssenkrupp and Wilhelmsen also set up their joint venture, Pelagus 3D, to provide digital manufacturing services to the maritime industry.

MPA is closely monitoring the current geopolitical situation around the world and its impact on key shipping routes and global supply chains. Should the supply chain disruptions be protracted, and ships’ schedules increasingly impacted, the Port of Singapore stands ready to assist ships to “catch up” on their schedules and to support shippers in their cargo connections.

MPA has also issued advisories to shipowners, managers, operators and masters of Singapore-flagged ships to review their ships’ security plans and implement necessary risk mitigating measures when trading in high-risk areas.

Note: The full Singapore maritime performance review of 2023 can be found here.

Photo credit: Maritime and Port Authority of Singapore
Published: 15 January, 2024

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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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2 days ago

September 4, 2026

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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

Alternative Fuels

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.

Published

2 days ago

September 4, 2026

Admin

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

Alternative Fuels

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.

Published

2 days ago

September 4, 2026

Admin

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.”

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