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Singapore: Equatorial Marine Fuel launches sustainable energy business unit, commits towards multi-fuel future

“Strategic planning for decarbonisation has been complex. Existing experience, expertise and networks will be critical to transit to low- and zero-carbon marine fuels bunkering,” EMF Director tells Manifold Times.

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Singapore: Equatorial Marine Fuel launches sustainable energy business unit, commits towards multi-fuel future

Singapore bunker supplier Equatorial Marine Fuel Management Services Pte Ltd (EMF) has launched a sustainable energy business unit to support maritime decarbonisation, learned bunkering publication Manifold Times.

“The Sustainable Energy business unit started in July 2023 and we created this dedicated business unit to show our commitment towards a sustainable future,” explained Choong Zhen Mao, Executive Director of EMF, on Thursday (31 August).

“While EMF has already been actively participating in the maritime decarbonisation space for the past number of years, such is the complexities of maritime decarbonisation that we recognised the need for a more professional, systematic and sustainable approach to develop this new area of business.”

According to Mr Choong, the unit’s primary functions are to drive the company towards maritime decarbonisation through the provision of research and development support for deeper understanding of the technical and commercial viability of alternate marine fuels and other related projects.

“The new unit will plan and manage the development of EMF’s existing and new low- and zero-carbon marine fuels and sustainability projects and businesses,” he shared.

“This includes supporting and advising on the company’s various business units on decarbonisation regulations and requirements while engaging the wider maritime industry, institutes of higher learning, research agencies and technology firms for their insights.”

So Kah Meng, EMF’s Sustainable Energy Manager, was positive towards the adoption of biofuel and methanol as a marine fuel in the coming years.

“While there are several alternative fuels that are developing, EMF sees the main alternate marine fuels in the next few years to be LNG, biofuel and methanol,” he stated.

“This is, of course, subject to international regulatory changes. We have already seen IMO’s approval of the usage of certified sustainable biofuels to improve a ship’s CII rating, whereas the EU Emissions Trading System (EU ETS) will be extended to maritime transport from 2024. It should not go unnoticed that the IMO will finalise a pricing mechanism, that will be enforced on maritime emissions, by 2025.

“Biofuel is a proven drop-in fuel. Methanol is increasingly gaining popularity and there are a good number of deliveries of dual fuel vessels that are methanol-ready from 2024 onwards.

“We are also looking at non-conventional options for our clients to be able to bind carbon credits with the fuels supplied, thereby providing a carbon neutral solution.”

The prospect of supporting ammonia and hydrogen as a bunker fuel has also been within the scope of EMF’s research.

“We have invested in studying ammonia as a marine fuel and kept in close contact with the various classification societies and relevant institutions to understand the fuel in relation to existing and future technologies,” added Mr Choong.

“As a leading bunker supplier in Singapore, we will have to be nimble and progressive in our business model to be able to provide different types of bunker fuels and decarbonisation solutions.”

In 2022, Equatorial was ranked by the Maritime and Port Authority of Singapore as the largest bunker supplier by volume in Singapore.

Related: Singapore: Equatorial Marine Fuel conducts carbon credit trial with Carbon Management Solutions
RelatedEquatorial Marine Fuel links one third of bunker tanker fleet to SGTraDex in push towards trust & transparency
RelatedSingapore: Equatorial Marine Fuel unveils OTT (Online Tracking Tool) to enhance bunker deliveries

 

Photo credit: Equatorial Marine Fuel Management Services
Published: 5 September, 2023

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Events

Singapore: PS Energy Group unveils new brand identity and moves to a new office

The group including its inland and marine bunkering units PS Energy Pte Ltd and CNC Petroleum Pte Ltd has underwent rebranding and moved to JTC Summit.

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Singapore: PS Energy Group unveils new brand identity and moves to a new office

Last mile fuel distribution company PS Energy Group, including its inland and coastal and marine bunkering units, PS Energy Pte Ltd and CNC Petroleum Pte Ltd, has introduced a fresh brand identity learns Manifold Times.

The firm has unveiled its new company logos and branding that reflects its remarkable transformation as a company.

“Over the past few months, we have been working hard to create a new visual identity that truly captures the essence of who we are as a company which we hope will resonate, inspire trust, and build meaningful connections with our customers,” Sean Chua, Managing Director told Singapore-based bunkering publication Manifold Times

“Our new logo embodies the core values and aspirations that have guided us throughout our journey, while incorporating elements that represent our vision and direction for the future. With its circular shape, the new logo depicts an entity in motion and embodies PS Energy Group’s agility, focus on innovation, and accessibility.”

The firm’s updated branding encompasses a comprehensive visual identity system that is now being integrated across all its assets and communication channels, including its inland and marine fleet, website, and social media platforms. 

Singapore: PS Energy Group unveils new brand identity and moves to a new office

Besides the new brand identity, the Group has recently moved to a new and improved office space at the JTC Summit in Singapore. The firm said its team spent considerable time and effort in searching for the perfect location that aligned with its vision and values of providing the best service possible to its clients.

Singapore: PS Energy Group unveils new brand identity and moves to a new office

“The move represents a significant milestone in our company's journey and marks a new chapter of growth and opportunity. Our new office brings a host of exciting features and amenities that will undoubtedly elevate the overall experience for everyone involved,” according to Sean. 

“From spacious workstations and ergonomic furniture to cutting-edge technology and collaborative spaces, we have designed the new office with both functionality and comfort in mind. We believe that this new workspace will foster even greater creativity, productivity, and collaboration among our team members, enabling us to deliver exceptional results and exceed the expectations of our clients.”

PS Energy Group’s new address is as follows:

8 Jurong Town Hall Road
#24-01 The JTC Summit
Singapore 609434

Related: Interview: PS Energy Group gears up for 2023 with sustainable bunker fuel products and digital transformation
Related: CNC Petroleum provides alternative bunker fuel to coastal and marine market with MGO B20
Related: Singapore: PS Energy Group acquires ISCC cert for biodiesel products

Photo credit: PS Energy Group
Published: 4 October, 2023

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Business

Malaysia: Straits Energy proposes to list oil bunkering and shipping segment on Nasdaq

In a filing with Bursa Malaysia, the firm announced its intention to spin-off its oil bunkering and shipping related services segment for listing on NASDAQ stock exchange via a public offering.

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RESIZED Straits Energy office

Malaysia-listed Straits Energy Resources Berhad on Monday (2 October) announced the company’s intention to spin-off its oil bunkering and shipping related services segment for listing on NASDAQ stock exchange in the United States by way of a registered public offering.

In a filing with Bursa Malaysia, the firm said it intends to undertake a reorganisation of some of its subsidiaries involved in the oil bunkering and shipping related services segment, for the purpose of forming a separate listing group or Spin-Off Group suitable for the listing on NASDAQ.

“It is envisaged that these subsidiaries to be comprised in the Spin-off Group will continue to remain as

subsidiaries of Straits upon the completion of the Proposed Listing,” the company said. 

Straits Energy added it will make a detailed announcement in relation to the proposed listing in due course, once the board of directors has finalised and approved the terms and structure of the exercise. 

It said the listing would enable the Spin-Off Group to gain recognition and corporate stature through the listing status of its own on NASDAQ.

The company added the listing would further enhance its corporate reputation and profile which will be conducive in expanding its customer base whilst allowing the Spin-Off Group to expand and establish its global presence. 

The proposed listing would also enable the Spin-Off Group to gain access to the capital market in the United States for capital raising and to provide the Spin-Off Group with financial flexibility for future expansion and growth.

It will also unlock shareholders' value in the oil bunkering and shipping related services and provide transparent valuation benchmark for the same on NASDAQ, it added. 

Manifold Times previously reported marine fuel logistics firm CBL International Limited (CBL International), an ultimate holding company of Banle International Group Ltd (BVI), a 38%-associate company of Straits Energy Resources Bhd announced it would be listed on Nasdaq. 

Later, Manifold Times did an exclusive interview with Banle Group who shared insights on the successful listing of CBL International Limited, its listing vehicle, on the Nasdaq Capital Market

Related: Malaysia: Straits Energy associate CBL International to be listed on Nasdaq
Related: Exclusive: Banle Group sets sights on expanding bunker supply network with successful IPO on Nasdaq

Photo credit: Straits Energy Resources Berhad
Published: 4 October, 2023

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Employment

VPS announces new appointments for key positions

Andrew Morton has been appointed to the role of Managing Director AMEA while Captain Rahul Choudhuri has been appointed to the newly created role of President Strategic Partnerships.

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VPS announces new appointments for key positions

Marine fuels testing company VPS on Tuesday (3 October) announced the appointment of Andrew Morton to the role of Managing Director AMEA (Asia, Middle East and Africa).

In this role, Andrew will apply his experience and knowledge to lead the delivery of VPS services to these important and growing regions. He joins VPS having spent the last 17 years working in the oil and gas industry, most recently with TotalEnergies in various positions and countries. 

These included technical, commercial, management, mergers and acquisitions and most recently the New Energies space, including renewable energy, biogas and fuels, hydrogen and LNG. He has a BSc (Hons) in Chemistry and started his career in research and development in the lubricants industry for Fuchs.

Dr. Malcolm Cooper, VPS CEO, stated “We are delighted to welcome Andrew on board as our MD AMEA. His background and experience will be helpful in supporting our customers in these important Regions, particularly in the rapidly developing decarbonisation space.”

Andrew Morton, said: “I am delighted to join VPS and the team and take over the role of Managing Director - Asia, Middle East and Africa. It is a privilege to join the global market leader and to manage a zone where the maritime industry is growing. I look forward to working with the various companies and associations across the industry to help them with their decarbonisation journey.”

VPS also announced that Captain Rahul Choudhuri has been appointed to the newly created role of President Strategic Partnerships. In this role, Rahul will use his network to enhance and further develop relationships with customers and operators from across the shipping ecosystem to help VPS support their decarbonisation journey.

Dr. Malcolm Cooper, VPS CEO, stated “Captain Rahul is well-known across the Maritime sector and he has been the figurehead for VPS Asia and the Middle East for many years. He has been instrumental in many developments within VPS and across the shipping industry, making significant contributions to developments through a wide range of Committees and organisations.”

“His new role will enable him to focus more on our external relationships, which are of growing importance as we aim to support the shipping sector on it’s decarbonisation journey. We in VPS are very proud of Rahul’s achievements to date and we know there will be more to come.”

Rahul, said: “I am looking forward to this new opportunity. This role will allow me to use my experience and close relationships to strengthen, build and develop the industry partnerships needed to deliver new decarbonisation solutions offered by VPS. My work with industry associations allows a greater professional engagement with stakeholders to take the industry forward in challenging times”.

Photo credit: VPS
Published: 4 October, 2023

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