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Singapore crosses three billion gross tonnage record in annual vessel arrival tonnage

Milestone was marked with the arrival of the 8,628 TEU, 98,799 GT Singapore-flagged containership “ONE OLYMPUS” at the Pasir Panjang Terminal on 25 December 2023.
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Singapore crosses three billion gross tonnage record in annual vessel arrival tonnage

The Port of Singapore registered a record three billion gross tonnage (GT) in annual vessel arrival tonnage, according to the Maritime and Port Authority of Singapore on Tuesday (26 December). 

The three billion GT mark was crossed with the arrival of the 8,628 twenty-foot equivalent units (TEU), 98,799 GT Singapore-flagged containership, ONE OLYMPUS, at the Pasir Panjang Terminal on 25 December 2023.

The annual vessel arrival tonnage at the Port of Singapore for 2023 is expected to hit just over 3 billion GT in 2023[2], up from 2.83 billion GT in 2022.

This achievement was marked at an event organised by the Maritime and Port Authority of Singapore (MPA) at PSA Horizons today. The event was graced by Mr Chee Hong Tat, Acting Minister for Transport, and attended by guests from the maritime industry. Mr Chee presented mementoes to the Master of ONE OLYMPUS, Captain Vaibhav Narula, and the Global Chief Executive Officer of Ocean Network Express (ONE), Mr Jeremy Nixon.

Speaking at the event, Acting Minister Chee said that the Port of Singapore’s most important success factor, which enabled this milestone achievement, was the strong tripartite co-operation which existed between the unions, industry, and government. He noted that while others could try to replicate our hardware, infrastructure, technologies and operating systems, “many find it difficult to replicate our trusted tripartite ecosystem in Singapore.  This is one of the key elements which gives us an edge to stay ahead of the competition and to take Maritime Singapore to even greater heights”. 

MPA Chief Executive, Mr Teo Eng Dih, said: “We are humbled that Singapore continues to be a choice port of call. We will continue to work with all our tripartite stakeholders to improve the efficiency and safety of our port. The launch of the Just-in-Time (JIT) Planning and Coordination Platform on 1 October this year for vessels calling at PSA terminals and Jurong Port is one such initiative. The JIT Platform will help to improve vessel turnarounds and optimise port calls, and thereby reduce greenhouse gas emissions from ships. It will be extended progressively to all vessels calling into Singapore from January 2024.”       

“As ONE we take great pride that one of our vessels has contributed in this way, to assist Singapore in achieving this truly historic and significant 3 billion GT milestone. ONE’s enduring ties with Singapore will continue to flourish as we recognise its leading qualities as a global maritime centre, strategic logistics hub and home to our global corporate head office. On behalf of ONE and all the maritime companies based and operating in Singapore, we congratulate the Port of Singapore for this fine achievement and wish them further success for many more decades to come”, said Mr Jeremy Nixon, Global CEO, ONE.

Mr Ong Kim Pong, Group CEO (Designate), PSA International, said, “Hitting the 3 billion GT mark is a significant achievement. The trust by our customers and the efforts by many generations of PSA staff since 1964 have brought about the evolution of PSA in driving Singapore’s economic growth, and in enabling global trade. PSA stays committed to positioning Singapore as a premier hub port and a trusted node in global supply chains by delivering service excellence and sustainable connectivity. Alongside our staff, unions, partners, and customers, we will continue to innovate and co-create a vibrant and resilient Maritime Singapore that embraces digitalisation, sustainability, and talent development.”

Mr Terence Seow, CEO, Jurong Port, said: “The strong partnership and collaboration with customers and stakeholders have supported Singapore’s achievement of the 3 billion GT milestone today. As a next generation multi-purpose port, Jurong Port is committed to help build leaner and greener supply chains to enhance our productivity and provide quality service to our valued customers. We are proud to be part of this accomplishment which reflects the reliability and resilience of Singapore’s maritime industry.”

Photo credit: Maritime and Port Authority of Singapore
Published: 26 December, 2023

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Milestone

China: Xiamen port records 16.37% jump in bunker sales volume in 1H2025

Total of 416 international ships, an increase of 6.12% on year, received marine fuel in bunkering operations during the same period.
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July 11, 2025

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Xiamen port bunkering

The Port of Xiamen recorded bonded bunkering volume of 274,500 metric tonnes (mt) in the first half (1H) of 2025, representing a jump of 16.37% on year, reported Xiamen Daily on Thursday (10 July).

A total 416 international ships, an increase of 6.12% on year, received marine fuel in bunkering operations during the same period.

The report noted Xiamen Port to be increasing bunker players while optimising its bonded marine fuel supply chain system in recent years.

Before February 2025, there were only two bonded bunker fuel suppliers with national licenses operating at Xiamen Port.

The port welcomed Xiamen Kunlun Fuel Oil [厦门昆仑燃料油] as a new marine fuel supplier on 1 February; the company was awarded the first Xiamen local license by both Xiamen Customs and the local government.

Followingly, Xiamen Kunlun Fuel Oil performed its first bonded bunkering operation at Xiamen port on 26 February.

Xiamen Port earlier launched a pilot programme called “two warehouse functions superposition” which combines the functions of both bonded oil storage warehouse and export supervision warehouse into one unit.

Using just a single oil storage tank allows bunker fuel suppliers at Xiamen to save on renting tanks, reduce time spent on tank unloading, improve utilisation rates, and shorten bunker delivery times.

Related: PetroChina subsidiary wins first bonded bunkering licence in Xiamen

 

Photo credit: Xiamen Port Authority, China
Published: 11 July 2025

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Newbuilding

China: Steel cutting ceremony for methanol bunkering tanker “Lucia Cosulich” held

A steel cutting ceremony was held for the 7,999 DWT IMO Type 2 chemical bunker tanker at Taizhou Maple Leaf Shipyard, China.
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July 11, 2025

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Lucia Cosulich

Fratelli Cosulich Marine Energy on Wednesday (9 July) announced the steel cutting ceremony of Lucia Cosulich, a 7,999 DWT IMO Type 2 chemical bunker tanker – the second vessel in a series of four – at Taizhou Maple Leaf Shipyard, China.

“This milestone marks another bold step in our Marine Energy business unit’s commitment to clean fuel readiness and operational excellence,” said the company.

The vessel will be fully methanol-ready, capable of carrying, burning, and bunkering methanol safely and efficiently, with full regulatory compliance standards.

It will feature an integrated Nitrogen Generator System, ensuring safe and inert tank operations at all times. Equipped with advanced safety systems specifically engineered for low-flashpoint fuel handling, the vessel sets a new benchmark in future fuel readiness.

A complete methanol bunkering setup will come as standard, including the Quick Connect/Disconnect Couplings (QCDC), dedicated transfer lines and comprehensive monitoring and control systems to ensure efficient and secure fuel handling.

“Built on state-of-the-art architecture, she is designed not only to meet but to exceed the evolving demands of tomorrow’s energy supply chain,” noted the firm.

“Lucia Cosulich embodies our vision to lead the transition within the maritime fuel landscape.”

 

Photo credit: Fratelli Cosulich
Published: 11 July 2025

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Financial Result

Glander International Bunkering reports EBT of USD 22 million for FY2025

‘This fiscal year, we focused on staying close to our clients, while adapting to a fast-changing market,’ says CEO Carsten Ladekjær.

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July 11, 2025

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Glander Result 2024 2025 MT

Global bunker trading and energy solutions provider Glander International Bunkering on Thursday (10 July) posted financial results for the year ended on April 30, 2025 – reflecting stable performance amid ongoing changes in global maritime and regulations.

The company reports a turnover of USD 3 billion and earnings before tax (EBT) of USD 22 million, including a non-recurring item.

“These results demonstrate consistent performance compared to the previous fiscal year, as the company continues to focus on conventional fuels, new fuels, risk management and extensive global reach,” CFO David Varghese comments.

Navigating change in maritime

Throughout the 2024-25 fiscal year, the bunker industry faced critical challenges including the escalation of the US-China trade conflict, ongoing Red Sea and Suez Canal security risks, and the first full-year impact of the EU Emissions Trading System (EU ETS) for maritime shipping.

Compliance with IMO CII measures and the uptake of new fuel products also influenced bunker demand patterns and pricing strategies.

“This fiscal year, we focused on staying close to our clients, while adapting to a fast-changing market,” says CEO Carsten Ladekjær. “In a time of uncertainty and transformation, we focused on staying agile, supporting customers with conventional fuels, and laying the groundwork for new fuel solutions.”

New fuels and other key achievements

Glander International Bunkering made significant progress in 2024-25: completing bioLNG deliveries, expanding biofuel supply, and launching a compliance calculator to help customers navigate FuelEU Maritime. Compared to the previous fiscal year, the company achieved a 71% increase in biofuel volume and 85% increase in LNG volume, along with the sale of nearly 100,000 EUAs.

Other achievements throughout the year include the renewal of its ISCC certifications, membership in the Smart Freight Centre, and Great Place to Work certification for the 7th consecutive year.

Looking ahead, Ladekjær says, “We will do what we have always done since 1961– adapt to new changes and be there for our clients.” He added that Glander International Bunkering is prepared for the next phase of change in global shipping, as decarbonisation, regulatory expansion and geopolitical developments continue to shape the bunker fuel market.

 

Photo credit: Glander International Bunkering
Published: 11 July 2025

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