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SMW 2024: Gearing up for the green transition

For members of the maritime sector – and service providers in areas such as legal, financing, broking and insurance – there are both opportunities and challenges to be reckoned with.
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SMW 2024: Gearing up for the green transition

The article ‘Gearing up for the green transition’ was first published on Issue 5 of the Singapore Maritime Week 2024 Show Dallies; it has been reproduced in its entirety on Singapore bunkering publication Manifold Times with permission from The Nutgraf and the Maritime and Port Authority of Singapore:

Toh Wen Li
[email protected] 

The maritime services cluster has a key role to play in facilitating the green and digital transition, especially in supporting companies as they grapple with the challenges ahead, said Mr Teo Eng Dih, Chief Executive of the Maritime and Port Authority of Singapore (MPA).

Speaking at the start of the Maritime Services Leaders Forum on Day 4 of Singapore Maritime Week, Mr Teo said that as the industry transforms, the services cluster can also evolve.

“The services cluster has a key role to play in facilitating this transition. Financiers and insurers support investment and cyber risk management, while the legal sector establishes clear frameworks for collaboration,” he said.

“This includes examining the implications of emerging issues and new developments, such as the adoption of alternative fuels, on legal clauses and obligations in shipping forms and contracts.”

MPA has given the Singapore Chamber of Maritime Arbitration (SCMA) its “full support” to set up Working Groups to examine contractual implications that might arise from emerging trends, as well as develop new provisions to tackle any gaps, Mr Teo added.

In his speech, which touched on areas ranging from risk to the green and digital transformation, he also noted “considerable traction” in alternative fuel vessels on the international shipping front.

Singapore is building up its infrastructure for electrification of harbour craft, and will roll out charging infrastructure for electric operations on the island, he noted.

“It is therefore opportune for financiers and insurers to step forward to support these new vessels or charging infrastructure,” he said, adding that since launching an expression of interest in 2023, the MPA had received nearly 20 financing and insurance proposals to support early movers of electrical harbour craft. 

NAVIGATING COMPLEXITY 

Maritime service providers also agreed with Mr Teo’s assessment, saying that the landscape is becoming more complex. 

“We are heading into an environment that is becoming more complex, with more regulations and more reporting requirements,” said Mr Demetris Chrysostomou, Managing Director Asia Region at Columbia Shipmanagement at a panel at the same forum titled Opportunities for Maritime Services. 

But there are also opportunities for services providers and parties looking to adopt green solutions. 

“There’s a lot of sustainable financing, a lot of green financing, a lot of transition finance capital waiting to be mobilised,” said Mr Roger Charles, Executive Director, Institutional Banking Group, Sustainability, DBS Bank. 

But he cautioned that smaller companies will need a leg-up to adopt green operations. 

“It’s the smaller guys, the mid-caps, who need the financing. They don’t want to take too much of a risk right now, say (by going) into ammonia,” added. “Banks are having to look at this from a slightly different lens, because it is a risk for them.” 

He described Singapore as a “unique” example, given the support from bodies such as the MPA and Enterprise Singapore. From April 2024, harbour craft owners and operators in Singapore have been able to apply for loans with a risk-share of 70 per cent from participating financial institutions.  Maritime companies can also tap a grant for energy-efficient equipment.

“This allows us to then go and finance (smaller companies)…But how about other countries, where you don’t have these grant systems, where you don’t have these risk-sharing (initiatives)?” he added.

As for the impact of the decarbonisation push on insurance, Dr Wu Chao, Special Advisor of the China P&I Club, said this was still early days.

“We have to wait and see how the situation develops, and how P&I (protection and indemnity) can respond (to the changes)… At this stage, we are watching the risks and trying to learn (more),” she said.

“In terms of protection of the environment, we have seen over the years the CFC (chlorofluorocarbons) convention, the bunkers convention, the forthcoming HNS (Hazardous and Noxious Substances) convention, but none of these conventions cover the risk arising potentially from the usage of new fuels.”

Singapore Maritime Week 2024 was organised by Maritime and Port Authority of Singapore from 15 to 19 April. 

 

Photo credit: Maritime and Port Authority of Singapore
Article credit: The Nutgraf/ Maritime and Port Authority of Singapore
Published: 29 April 2024

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Methanol

World Fuel and partners complete first green methanol bunkering of car carrier in Shanghai

Operation involved the delivery of approximately 2,800 MT of green methanol to “Arctic Tern” via a ship-to-ship transfer using SIPG Energy’s dedicated methanol bunkering vessel “M/V Hai Gang Zhi Yuan”.
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July 22, 2026

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World Fuel and partners complete first green methanol bunkering of car carrier in Shanghai

Marine fuel provider World Fuel on Tuesday (21 July) said it successfully completed the first green methanol bunkering of M/V Arctic Tern, with EUKOR Car Carriers and SIPG Energy at the Port of Shanghai. 

Arctic Tern is the first vessel in the new Shaper Class series of car carriers. 

The operation involved the delivery of approximately 2,800 MT of green methanol to Arctic Tern via a ship-to-ship transfer using SIPG Energy’s dedicated methanol bunkering vessel M/V Hai Gang Zhi Yuan, the largest vessel of its kind in operation. 

The bunkering operation was carried out at Haitong Terminal, Waigaoqiao Port Area, Shanghai Port, with cargo handling operations conducted simultaneously during bunkering.

This marks EUKOR Car Carriers’ first green methanol operation and the first time Arctic Tern has bunkered methanol since its delivery on 9 July. The operation marked the first bunkering at Shanghai Port of green methanol produced locally in Shanghai for an international PCTC operator. 

It also demonstrated the city’s integrated green methanol value chain, spanning local production, storage and bunkering, and established a replicable “Shanghai Model” for green methanol supply.

World Fuel arranged the supply and delivery of the fuel on behalf of EUKOR Car Carriers, working with SIPG Energy as the physical supplier at the Port of Shanghai.

The green methanol supplied was produced from municipal solid waste, ISCC-EU certified, and had a carbon intensity value below 25 gCO₂e/MJ.

Arctic Tern is the first of fourteen Shaper Class vessels ordered by Wallenius Wilhelmsen. With a capacity of 9,300 car equivalent units and methanol dual-fuel capability, the vessel will be operated by EUKOR Car Carriers, jointly owned by Wallenius Wilhelmsen and Hyundai Motor Group. Following her first green methanol bunkering, Arctic Tern will continue her maiden voyage from Asia to Europe.

Xavier Leroi, COO Shipping Services at Wallenius Wilhelmsen and CEO of EUKOR Car Carriers, said: “Completing Arctic Tern’s first green methanol bunkering shortly after delivery is a significant milestone towards our decarbonisation ambition for both EUKOR Car Carriers and Wallenius Wilhelmsen. It demonstrates how investments in next-generation vessel technology and fuel flexibility are being translated into real-world operations. 

“This achievement reflects the strong collaboration between all parties involved. Together, we have shown how partnerships across the maritime value chain can help make lower-emission fuels available and operationally viable at scale.”

Mark Tamsitt, SVP Global Marine Sales at World Fuel, said, “The first bunkering event with a new fuel is a significant moment for any shipowner, and our role is to make it as seamless as possible. By connecting EUKOR Car Carriers with SIPG Energy’s proven green methanol capability at the Port of Shanghai, we were able to deliver on reliable supply, fuel quality, and safe processes. As more of our customers bring methanol dual-fuel tonnage into service, we are committed to being the partner that makes these kinds of operations routine.”

Mr. Zhang Da, General Manager of SIPG Energy, said, “Welcoming Arctic Tern to the Port of Shanghai for her first green methanol bunkering demonstrates the strength and maturity of our supply capability. Building on our well-established methanol ship-to-ship bunkering services for container vessels, we have already extended such services to pure car and truck carriers (PCTCs). This bunkering sets a new record for the largest single SIMOPs green methanol bunkering for PCTCs in China, marking another step in building Shanghai’s position as a global green energy hub for international shipping.”

This operation follows Wallenius Wilhelmsen’s announcement on 9 July that Arctic Tern would complete her first methanol bunkering shortly after delivery. The vessel entered service on routes between Asia and Europe immediately following handover from China Merchants Jinling Shipyard in Nanjing.

 

Photo credit: World Fuel
Published: 22 July, 2026

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Ammonia

HPA and MB Energy develop safety concept for STS ammonia bunkering

HPA says the Port of Hamburg will become “bunker ready” for ammonia, laying the groundwork for safe and reliable ammonia bunkering in the future.
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July 22, 2026

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HPA and MB Energy develop safety concept for STS ammonia bunkering

The Hamburg Port Authority (HPA) and integrated energy company MB Energy on Tuesday (21 July) said they have completed a comprehensive risk analysis and developed a dedicated safety concept for ship-to-ship ammonia bunkering.

MB Energy said the analysis lays the groundwork for the safe introduction of ammonia as a future marine fuel.

“With our planned ammonia import terminal in Hamburg-Blumensand, MB Energy intends to provide the reliable land side supply infrastructure needed to support this transition across northern German ports,” it said in a social media post. 

Mabanaft Group was renamed to MB Energy last year and merged over 50 existing brands under one identity. 

Separately, HPA said the Port of Hamburg will become “bunker ready” for ammonia, laying the groundwork for safe and reliable ammonia bunkering in the future.

“The focus is in particular on container ships, cruise ships as well as RoRo and ConRo (Container/RoRo) ships,” it said. 

“We expect ammonia to establish itself as an alternative marine marine fuel in the coming years. With our preparatory work, we are already creating the conditions to welcome the first ammonia-powered ships in Hamburg and to bunker them safely.:

HPA added that the import terminal for ammonia planned by MB Energy from 2029 will make a decisive contribution to ensuring the reliable availability of ammonia as a bunker fuel in northern German ports in the long term. 

“The use of an ammonia bunker barge is considered a possible addition to the landside infrastructure to enable ship bunkering in the port and beyond in the future,” it said.

Related: Mabanaft Group renames as MB Energy, merging over 50 brands under one identity

 

Photo credit: Hamburg Port Authority
Published: 22 July, 2026

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LNG Bunkering

PIL’s LNG dual-fuel boxship “Kota Elok” arrives in Singapore on maiden call

As the first of 13 new 13,000 TEU vessels joining its fleet, Kota Elok is equipped to operate on LNG and low-sulphur fuel oil that helps reduce our greenhouse gas emissions.

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July 21, 2026

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PIL's LNG dual-fuel boxship “Kota Elok” arrives in Singapore on maiden call

Singapore-based Pacific International Lines Pte Ltd on Monday (20 July) said its first 13,000 TEU LNG dual-fuel container vessel, Kota Elok, recently made her maiden call to Singapore on 15 July.

As the first of 13 new 13,000 TEU vessels joining its fleet, Kota Elok is equipped to operate on liquefied natural gas (LNG) and low-sulphur fuel oil that helps reduce our greenhouse gas emissions. 

The vessel also incorporated energy-saving features and digital technologies to reduce fuel consumption and enhance operational performance, as well as a bow windshield to improve aerodynamics, contributing to improved fuel efficiency and lower emissions over the course of long-haul voyages.

“Following Singapore, Kota Elok will continue her voyage on our East Coast Service 1 (ES1) route to South America, calling at ports in Brazil, Uruguay, and Argentina before returning to Asia,” the company said in a social media post. 

Kota Elok also became PIL’s first vessel to receive Lloyd’s Register certification for compliance with the IACS UR E26 and UR E27 cyber security requirements.

Developed by the International Association of Classification Societies (IACS), UR E26 and UR E27 are mandatory cyber resilience requirements for newbuild vessels contracted from 1 July 2024. 

 

Photo credit: Pacific International Lines
Published: 21 July, 2026

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