Events

Singapore to invest SGD 100 million to boost green efforts in marine and offshore energy

Alvin Tan, Minister of State for the Ministry of Culture, Community and Youth & Ministry of Trade and Industry, announces a new support package for marine and offshore engineering companies over the next five years.

Published

2 months ago

November 25, 2024

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Singapore to invest SGD 100 million to boost green efforts in marine and offshore energy

Alvin Tan, Minister of State for the Ministry of Culture, Community and Youth & Ministry of Trade and Industry, on Tuesday (19 November) announced a new SGD100 million support package for marine and offshore engineering companies.

The package is aimed at fostering partnership and adopting solutions in growth areas including offshore wind, floating storage, and digitalisation over the next five years.

With the accelerating pace of the energy transition, Tan emphasised Singapore’s commitment to becoming a greener economy, with a goal of achieving net-zero emissions by 2050, as outlined in the nation's Green Plan.

Tan graced OSEA 2024 in Singapore where the three-day tradeshow welcomed more than 500 exhibitors and 15,000+ attendees from 100 countries, providing a comprehensive look at solutions and strategies driving the energy transition in the marine and offshore industries.

As part of the OSEA Gives Back initiative, complimentary conference access was extended to members of the broader community. This initiative is designed to promote inclusivity by providing opportunities for diverse participants to engage with industry leaders, exchange knowledge, and collaborate on innovative solutions.

The conference emphasised the urgent need to accelerate the energy transition and foster global collaboration. Speakers highlighted the competitive advantage of adopting solutions now to meet regulatory targets, while stressing the need for faster adoption of transformative technologies, such as carbon capture and storage (CCS), alternative fuels and digital innovations for automation and efficiency.

Prof. Chan Eng Soon, Chairman for the OSEA Advisory Committee and Chief Executive Officer at Technology Centre for Offshore and Marine Singapore (TCOMS) commented on OSEA being at the forefront of innovation and driving sustainability. He said: “There is work still to be done; we must embrace the energy transition, collaborate, and learn from each other, because we all play a role in the low-carbon economy.”

Additionally, there were exclusive content sessions ranging from Executive Networking sessions, the OSEA Academy and Country Hotspots, specially designed to provide marketing information, innovation and trends. This included highlighting specific offshore energy market and investments potentials, as well as driving connections among decision makers and experts.

The industry’s need to decarbonise and change has brought unprecedented challenges and opportunities to the offshore energy market.

This echoed across the exhibition hall, with leading companies such as Seatrium discussing and highlighting initiatives on new fuels, CCS, and cleaner offshore production for marine decarbonisation, as well as initiatives showcased by the group pavilions.

Yinson GreenTech unveiled its new electric crew transfer vessel Hydroglyder, which is Singapore’s first fully electric hydrofoil vessel and marks a significant move towards sustainable marine innovation.

Similarly, TechX@OSEA showcased transformative technologies, including startups shaping the future of offshore energy and driving innovation, collaboration, and the adoption of solutions that enhance business capabilities and sustainability.

Leedon Nox reinforced its core capabilities as an industrial gas supplier with engineering and consultancy expertise ensuring reliability for customers in offshore operations, while Aramco displayed initiatives that support the future of energy, powering economies that fuel progress worldwide.

Strategic Marine, Mirai Ships Inc., and Ragnar Energy Solutions signed a Memorandum of Understanding for the construction of Crew Transfer Vessels (CTVs) to support the growing Japanese offshore energy market and advancing global shipbuilding collaboration.

Mr. Sukumar Verma, Managing Director, Informa Markets Singapore, said: “Forging partnerships, collaboration, and community building will play a vital role in the transformation of the offshore energy industry. OSEA reinforces the power and reputation of Singapore as an important leader in global offshore energy and as a key maritime hub.”

“I am proud of how Informa Markets continues to provide an inspiring and informative platform for the offshore energy community with creative thinking to support professional development, individual wellbeing and industry growth. Thank you to all exhibitors, speakers, partners and visitors for your excellent collaboration.”

OSEA will return to Singapore in November 2026. More information on this can be found here.

Informa Markets will host its next maritime event, Sea Asia, in Singapore in March 2025 - marking its 10th edition as the premier international marketplace for the maritime industry.

Photo credit: OSEA 2024, Informa Markets Singapore
Published: 25 November, 2024

Related Topics:Bunker fuel - Battery Business - Events Business - MoU Port & Regulatory - Decarbonisation

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Business

Banle Group snags award at 2024 Valuable Capital Community Annual Selection

Firm was awarded the Most Creative Corporate Communication Award, recognising Banle Group’s innovative thinking and practices in corporate communication.

Published

12 minutes ago

January 15, 2025

Admin

Marine fuel logistics firm Banle Group recently announced that it has been awarded the Most Creative Corporate Communication Award at the 2024 Valuable Capital Community Annual Selection.

The company said the award recognises Banle Group's innovative thinking and practices in corporate communication, showcasing the unique charm of the Group in brand building and market communication.

The Most Creative Corporate Communication Award is part of the annual selection organised by the Valuable Capital Community to acknowledge companies that demonstrate innovation and impact in corporate communication and brand building.

The criteria for the selection include the creativity of communication content, the innovation of communication channels, and the impact of communication effectiveness.

“Banle Group stood out with its excellent performance in digital communication, social media utilisation, brand storytelling, and interactive communication, earning widespread recognition,” the firm said.

Banle Group prioritises communication with stakeholders by regularly hosting shareholder meetings, results announcement presentations and roadshows, as well as releasing corporate newsletters and updating the company website to ensure timely communication of the company's strategies and latest developments, fostering active engagement among stakeholders.

Over the past year, Banle Group effectively delivered corporate information through a combination of online platforms and social media channels, enhancing brand exposure and interactivity.

Mr. Teck Lim Chia, Chairman & CEO of Banle Group, said, "We are honored to receive the 'Most Creative Corporate Communication Award' at the 'Valuable Capital Community Annual Selection.' In terms of corporate governance, Banle Group has always adhered to the principles of transparency and responsibility, strengthening the corporate governance structure to ensure that all decisions and disclosures comply with international standards.”

“The Group understands that high quality corporate governance not only enhances the company's reputation but also builds trust and support among stakeholders. In the future, we will continue to deepen interactions with investors and other stakeholders, continuously enhance the brand's influence and market competitiveness.”

CBL International Limited, the listing vehicle of Banle, also recently announced it was awarded the Best Digital Investor Relations Award at the 8th China Excellence IR Awards.

In addition, Ms. Venus Zhao, Director of Investor Relations and Public Relations, was honoured with the Best Investor Relations Director award.

Photo credit: Essow on Pexels
Published: 15 January, 2025

Business

Marine fuels trading, broking firm Uni-Fuels Holdings announces US IPO pricing

Firm announced the pricing of its underwritten IPO of 2,100,000 Class A Ordinary Shares at a public offering price of USD 4.00 per share, for total gross proceeds of USD 8.4 million.

Published

25 minutes ago

January 15, 2025

Admin

Uni-Fuels Holdings (Uni-Fuels), the ultimate parent of Singapore-based marine fuels trading and brokerage firm Uni-Fuels Pte Ltd, on Tuesday (14 January) announced the pricing of its underwritten initial public offering of 2,100,000 Class A Ordinary Shares at a public offering price of USD 4.00 per share, for total gross proceeds of USD 8.4 million to the company, before underwriting discounts and commissions.

All of the Class A Ordinary Shares are being offered by Uni-Fuels. The Class A Ordinary Shares began trading on the Nasdaq Capital Market under the ticker symbol “UFG” on 14 January. The Offering is expected to close on 15 January subject to satisfaction of customary closing conditions.

Uni-Fuels has granted the Underwriters an option to purchase up to 315,000 additional Class A Ordinary Shares within 45 days of the effective date of the company’s registration statement in relation to the IPO.

The total proceeds from the offering are expected to be approximately USD 9.66 million, if the Underwriters exercise their option to purchase the additional Class A Ordinary Shares in full.

Uni-Fuels intends to use the proceeds from the IPO for scaling up its reselling activities to gain market share from existing and new markets; for strengthening its workforce and expanding its market presence in new geographical locations; and cash reserve and general corporate purposes.

A registration statement on Form F-1 relating to the shares being sold in IPO was initially filed with the U.S. Securities and Exchange Commission (SEC) on 28 October 2024; and was declared effective by the SEC on 10 January 2025.

Manifold Times previously reported Uni-Fuels announcing its plans for an IPO on Nasdaq Capital Market.

Photo credit: Uni-Fuels Holdings
Published: 15 January, 2025

Business

Lloyd’s List Intelligence acquires Infospectrum to drive maritime risk intelligence solutions

Combined business will enable LLI to build solutions that deliver actionable insights and help maritime customers successfully navigate key use cases associated with compliance, risk management and operations.

Published

20 hours ago

January 14, 2025

Admin

Lloyd’s List Intelligence acquires Infospectrum to drive maritime risk intelligence solutions

Maritime data, insights and analytics provider Lloyd’s List Intelligence (LLI) on Tuesday (14 January) announced the acquisition of Infospectrum, an independent provider of counterparty risk appraisal reports & data, due diligence research and KYC intelligence.

The acquisition expands LLI’s ability to deliver analysis and risk management intelligence solutions.

The integration of Infospectrum’s comprehensive counterparty risk appraisal, due diligence and KYC intelligence capabilities and data, will enable the combined business to provide customers with more accurate, reliable, and timely risk based decision-making solutions.

With the maritime sector facing increasing complexity from global sanctions, compliance, safety, geo-political and legal considerations, the combination will enable LLI to build solutions that deliver actionable insights and help customers successfully navigate key use cases associated with compliance, risk management and operations.

“The acquisition of Infospectrum is an important milestone for Lloyd’s List Intelligence,” said Michael Dell, CEO, Lloyd’s List Intelligence.

“This acquisition is a significant step forward in our mission to provide the most comprehensive and insightful risk intelligence solutions that support the global maritime industry. By combining our respective strengths, we will deliver stronger capabilities to our customers and enhance our ability to act as a provider of mission critical data, insights and analytics for the maritime sector as a whole.”

“We are excited to join forces with Lloyd’s List Intelligence,” said Panos Panousis, Managing Director, Infospectrum.

“This combination will unlock significant opportunities for both companies and provide the maritime ecosystem with access to a broader range of data, analytics, and intelligence. We are confident that together we will accelerate innovation and deliver exceptional solutions to the maritime industry.”

Photo credit: Lloyd’s List Intelligence
Published: 14 January, 2025