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Global Energy Trading and Bunkerchain complete bunkering sector’s first PoC with TradeTrust Integration

3,490 mt of LSFO from Itochu Enex was lifted at Universal Terminal; the same bunker stem was bought by Global Marine Logistics and delivered by bunker tanker Juma to receiving vessel Kirana Nawa.
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Juma bunkering Kirana Nawa

Singapore bunker supplier Global Energy Trading on Friday (18 December) completed the bunkering sector’s first proof of concept (PoC) operation of a fully digitalised marine fuel transaction.

The bunker fuel transaction was supported with physical transfer data from IOT devices on the bunker barge; the operation was linked to the TradeTrust* framework with support from technology firm BunkerChain.

The PoC operation involved three parties; a Cargo Seller [Itochu Enex], Bunker Trader [Global Energy Trading], and Buyer [Global Marine Logistics], learned Singapore bunkering publication Manifold Times.

A total 3,490 mt of LSFO was lifted from Universal Terminal; the same bunker stem was bought by Global Marine Logistics and delivered by bunker tanker Juma to receiving vessel Kirana Nawa.

Bunkerchain successfully enabled the digital signing of the entire trade using an Accredited Certification Authority followed by a full capture of the entire physical flow data from IOT devices on the bunker tanker.

The PoC also simulated the detection of an unauthorised transfer of cargo; following which the system sent out an alert to Global Energy’s headquarters.

“This is a step forward, Global Energy is proud to be part of this move towards industry digitalisation,” said Vince Koh, General Manager of Global Energy Trading.

“Interoperable standards-based digital utilities such as TradeTrust are critical to enabling players across different levels of digital readiness to participate in the ecosystem. Global Energy Trading and BunkerChain’s proof of concept leverages TradeTrust’s document verification capabilities to help the bunkering industry address areas such as detecting, remotely controlling, and preventing unauthorised movement of cargo. This is a positive step forward in our collaboration with the industry to accelerate their digitalisation journey,” said Loh Sin Yong, Director of Trade for Infocomm Media Development Authority (IMDA).

“We are very excited and honoured to kick-start this PoC with BunkerChain. As the only IMDA- accredited Certificate Authority in Singapore, Netrust’s certificates and technologies used in the digital signing process provide assurance for the integrity and authencity of electronic records. It is definitely a breakthrough and a great use case for the industry,” said Edwin Lee, Head of Sales at Netrust.

BunkerChain provided the distributed ledger environment for Global Energy Trading to carry out the full end-to-end trade which includes real time visibility and control of the physical bunkering process with full audit trail integrated with TradeTrust.

“Singapore’s bunkering sector faces several pain points which BunkerChain is able to solve with the TradeTrust framework,” shares Leon Ling, CEO of BunkerChain.

“Current pains include insufficient audit trail, a manual process of filling up the Bunker Delivery Note and manual submission of data to the authorities, and insufficient visibility and control of inventories held.

“TradeTrust, together with our TradeClear and BunkerConnect modules, opens up transparency and visibility of a bunker transaction while offering full digital life cycle management, digital twin asset management capabilities, risk management and fraud prevention – qualities which the bunkering sector and its supporting financial institutes are adopting moving forward.”

About TradeTrust

*TradeTrust comprises a set of globally-accepted trade process standards and frameworks, that connects governments and businesses to a public blockchain. In doing so, it enables interoperability across different platforms so that electronic trade documents can be exchanged in a trusted fashion across these digital platforms.

  • Find out more about TradeTrust here
  • For further enquiries on TradeTrust, please email [email protected]
  • Find out more about Bunkerchain here

 

Photo credit: Global Energy Trading
Published: 5 January, 2021

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Winding up

Singapore: Xihe Holdings subsidiaries to be wound up voluntarily, creditors to submit claims

Creditors of Da Zhong Tankers and Xin Ying Shipping are required on or before 17 July 2026 to send in their names and addresses and particulars of their debts or claims to appointed liquidators, says notice.
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Xihe Holdings Pte Ltd subsidiaries Da Zhong Tankers Pte Ltd and Xin Ying Shipping Pte Ltd will voluntarily wind up following resolutions that were passed by written means, according to a Government Gazette notice published on Thursday (18 June).

The resolutions set out below were duly passed:

  • SPECIAL RESOLUTION – WINDING-UP

That the Company be wound up voluntarily pursuant to section 160(1)(b) of the Insolvency, Restructuring and Dissolution Act 2018.

  • ORDINARY RESOLUTION – APPOINTMENT OF LIQUIDATORS

That Paresh Tribhovan Jotangia and Ho May Kee of Grant Thornton Singapore Private Limited, 8 Marina View, #40-04/05 Asia Square Tower 1, Singapore 018960 be and are hereby appointed as joint and several liquidators to conduct the said winding-up and that their remuneration be fixed on the usual scale of their professional charges for the work involved.

  • SPECIAL RESOLUTION – POWERS OF LIQUIDATORS

That the liquidators of the Company be authorised to exercise any of their powers given by section 177, 144 (1) and (2) of the Insolvency, Restructuring and Dissolution Act 2018 and to distribute to members, in specie, any part of the assets of the Company.

In another notice, the liquidator of the company said creditors are required on or before 17 July 2026 to send in their names and addresses with particulars of their solicitors (if any) to liquidator Paresh Tribhovan Jotangia at Grant Thornton Singapore Private Limited, 8 Marina View, #40-04/05 Asia Square Tower 1, Singapore 018960. 

The liquidator may require creditors or their solicitors to “come in and prove their said debts or claims at such time and place as shall be specified in such notice or in default thereof, they will be excluded from the benefit of any distribution made before such debts are proved.”

Related: Singapore: Additional Xihe Holdings subsidiaries to be placed under judicial management

 

Photo credit: steve pb from Pixabay
Published: 19 June, 2026

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Winding up

Singapore: Liquidator of Parakou Shipping issues notice of dividend

Second and final dividend to admitted creditors of Parakou Shipping is payable by 14 July, according to Government Gazette notice.

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A notice of dividend for Parakou Shipping Pte Ltd, which is currently in voluntary liquidation, was published on the Government Gazette on Thursday (18 June). 

The following are the details of the notice:

Name of Company : Parakou Shipping Pte Ltd (In Creditors’ Voluntary Liquidation)
Address of Registered Office : c/o KordaMentha, 50 Raffles Place, 25-01 Singapore Land Tower, Singapore 048623
Amount per centum : 0.55 per centum of admitted claims (in accordance with the Order of Court HC/ORC 4175/2024)
First and Final or otherwise : Second and Final Dividend to admitted creditors (in accordance with the Order of Court HC/ORC 4175/2024)
When payable : By 14 July 2026
Where payable : c/o KordaMentha Pte Ltd, 50 Raffles Place, #25-01 Singapore Land Tower, Singapore 048623

Related: Singapore: Notice of intended dividend issued for Parakou Shipping Pte Ltd

 

Photo credit: Benjamin Child
Published: 19 June, 2026

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Alternative Fuels

MOL inks bio-LNG bunker fuel supply deals with Titan and Axpo for car carriers in Europe

Titan, part of Amsterdam-based Molgas, will continue to supply bio-LNG fuel in Northwest Europe, while Axpo will take charge of supply in the Mediterranean region.
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MOL inks bio-LNG bunker fuel supply deals with Titan and Axpo for car carriers in Europe

Mitsui OSK Lines (MOL) on Thursday (18 July) said it has signed new supply agreements in Northern Europe and the Mediterranean region to expand the use of bio-LNG marine fuel on MOL-operated LNG-fuelled car carriers.

Titan, part of Amsterdam-based Molgas, will continue to supply bio-LNG fuel in Northwest Europe, while Axpo will take charge of supply in the Mediterranean region.

MOL said the agreement makes it possible for its company to supply bio-LNG fuel for automobile carriers in the Mediterranean region, specifically Port of Malaga and Barcelona in Spain, following the bio-LNG fuel supply agreement in Western Europe, which commenced in March last year.

The bio-LNG fuel to be supplied in this initiative has a lifecycle carbon intensity (carbon dioxide emissions per unit of energy consumption) of -15 g-CO2/MJ or less, from production through consumption. Furthermore, this bio-LNG fuel has obtained International Sustainability and Carbon Certification (ISCC-EU). 

“Through this supply agreement, MOL has established a framework that ensures a continuous and stable supply of bio-LNG fuel not only in Northern Europe but also in the Mediterranean,” the company said.

As part of the group’s efforts to adopt alternative fuels and achieve net-zero greenhouse gas (GHG) emissions, it is utilising LNG-fuelled vessels as a bridge solution to facilitate the transition to carbon-neutral fuels such as bio-LNG and synthetic LNG (e-methane).

In 2025, MOL signed a bio LNG fuel supply agreement in Northwest Europe with Titan, part of the Molgas, and MOL has continued this bio LNG fuel supply agreement with the same company in 2026 as well.

 

Photo credit: Mitsui OSK Lines
Published: 19 June, 2026

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