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Singapore bunker supplier Victory Petroleum to electrify bunker tanker fleet

11 Aug 2021

BH Global Corporation Ltd on Friday (6 August) said its subsidiary Sea Forrest Power Solutions Pte Ltd (SFP) has signed a Memorandum of Understanding (MOU) with Singapore bunker supplier Victory Petroleum Trading Pte Ltd (VPT).

Under the MOU, SFP will convert VPT’s existing bunker fleet to utilise a hybrid electric propulsion system, and design and supply Energy Storage Systems (ESS) and ship-to-ship charging systems to VPT.

The hybrid-electric bunker tankers will be designed with high fuel efficiency, with an aim of reduced carbon emission so as to contribute holistically to the reduction of the shipping industry’s carbon footprint over the coming decades.

SFP will also develop a proprietary-design one-stop ship-to-ship charging system with minimal footprint for the powering of plug-in hybrid and full electric vessel. The ESS developed will be specially designed and engineered for coastal usage.

“This strategic partnership enables us to continuously build and enhance sustainable solutions for our ship-to-ship charging station, as we bring our different expertise to the table,” said Ong Zhenzhi, General Manager of VPT.

“By being an early adopter, we hope to provide assurance to the harbour craft community as they transit to greener energy.”

In April 2018, the International Maritime Organisation (IMO) laid out its strategy to reduce the shipping industry’s total greenhouse gas (GHG) emissions in 2050 by at least 50% from 2008 level, and to reduce CO2 emissions per transport work by at least 40% by 2030.

In line with the 2030 and 2050 targets set by IMO, VPT’s new business model is to decarbonise its existing bunker fleet.

Vincent Lim, Chief Executive Officer of BH Global highlighted: “This strategic partnership with VPT will further propel us along our course in delivering environmentally sustainable solutions for the marine and offshore sector. This is in line with the Group’s Environmental, Electrification and Digitalisation initiatives.”

George Lee, Chief Executive Officer of SFP added: “With the increase in demand for Decarbonisation, we anticipate growing requirements for electric vessels very soon. We believe the partnership with Victory will showcase Sea Forrest’s ability in providing proprietary-designs, innovative and efficient Green Energy solutions.”

 

Photo credit: BH Global Corporation
Published: 11 August, 2021

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