Connect with us

Business

Supplier: Hong Kong MFM bunker operations need this factor to flourish

Hong Kong bunker market facing increasing pressure from rival Shanghai, notes representative of NewOcean Energy Holdings.

Admin

Published

on

5a03c58b5d897 1510196619

Regulation is needed in Hong Kong’s bunkering industry to allow mass flowmeter (MFM) bunkering operations to flourish.

‘Bunkering operations in Singapore are really good not only because of the MFM, but because of regulation,’ observes a representative of Hong Kong-listed NewOcean Energy Holdings Limited, a subsidiary of NewOcean Group.

‘The problem is Hong Kong has no regulator for its bunkering industry, so even if a company adopts MFM bunkering operations there is no standard regulation on which standards to use.

‘Even if firms were to install MFM on board their barges there is nobody to regulate. So, how can standards be met?’

According to the source, the Hong Kong bunker market is currently experiencing increasing pressure from Shanghai due to narrowing prices. 

‘Typically, the spread between Hong Kong and Shanghai is $10 per metric tonne (pmt) with Hong Kong being on the more expensive end; but there are some days when it narrows down to $5 pmt or even lesser.

‘With increased traffic going to the world’s biggest container port, shipowners have even more reason to steam pass Hong Kong during days when the price spread is low.’

The above is also the reason why NewOcean Group started operations of Singapore-based NewOcean Fuel (Singapore) in September, he explains.

‘We set up an office in Singapore to function as a purchasing centre for our Hong Kong market so we can bypass any intermediaries and do better by purchasing fuel oil directly from the Singapore market,’ he says.

‘All the bunker volume for our Hong Kong operations is now bought using cargo from Singapore. So by setting up a purchasing center in Singapore, our logistical operations are cheaper overall and we remain competitive.’

NewOcean Group launched operations at Singapore on 31 August, 2017. The company is the second largest marine fuels supplier in the Hong Kong bunker sector.

The group owns a 70,000 mt capacity deep sea oil storage terminal in Zhuhai, China and also owns seven bunker ships in Hong Kong and 28 bunker ships inside China. It also manages more than 200,000 mt of oil storage capacity at different places in China to facilitate the purchase, storage and distribution of bunker fuels.

Photo credit: FreeImages.com/Micheal Pang

Continue Reading

Digital platform

Ofiniti eBDN solution chosen by FincoEnergies for marine biofuel ops in ARA region

Development takes place on the back of complex logistics and opaque operational processes experienced by the marine (bio)fuel market; which Ofiniti’s FuelBoss eBDN solution seeks to simplify.

Admin

Published

on

By

FincoEnergies MT

Rotterdam-based FincoEnergies, an independent, leading supplier of (bio)fuels and decarbonisation services for the transport sector, will be adopting Ofiniti’s FuelBoss eBDN technology, with operational support from VT Group.

The development takes place on the back of complex logistics and opaque operational processes experienced by the marine (bio)fuel market; which Ofiniti’s FuelBoss eBDN solution seeks to simplify.

“Schedules are becoming increasingly tighter as demand for sustainable biofuels grows,” explains Leon Arets, Trading & Operations Director at FincoEnergies.

“We’re adopting a platform that enhances structure and responsiveness. This digital leap allows us to not only scale efficiently but also deliver greater transparency and operational excellence to our clients.”

A spin-off from global assurance and risk management leader DNV, Ofiniti brings together deep industry know-how with cutting-edge technology. Its flagship platform, FuelBoss, is designed to replace cumbersome manual processes with streamlined digital workflows that boost efficiency and data reliability.

“Our work with LNG suppliers laid the groundwork,” notes Oliver Brix Sparsø, Global Director of Sales at Ofiniti. “But this collaboration with FincoEnergies and VT Group marks the first large-scale commitment to digital delivery workflows for biofuels. It’s a turning point for the region.”

FincoEnergies’ mission, Decarbonising the transport industry together, is grounded in collaboration and innovation. The partnership with Ofiniti and VT Group exemplifies this spirit, combining technological leadership with operational expertise.

“As operators, we continuously look for ways to improve life on board and support our partners,” adds Wouter van Reenen, Business Development Manager at VT Group. “FuelBoss is a strong fit for our operations and those of our chartering clients.”

Related: Ofiniti to digitalise Azane ammonia bunkering operations across Scandinavia
Related: Ofiniti to roll out e-BDNs for Golden Island methanol bunkering operations in Singapore
Related: Global Fuel Supply to adopt FuelBoss by Ofiniti for e-BDN in West Africa
Related: Ofiniti appoints Oliver Brix Sparsø as new Global Director of Sales
Related: Ofiniti acquires Singapore-based Angsana Technology to advance digital bunkering solutions
Related: Singapore: FuelBoss by Ofiniti becomes sixth whitelisted e-BDN solution
Related: Digital bunkering platform Ofiniti successfully spun out from DNV
Related: FuelBoss to continue under new DNV company Ofiniti

 

Photo credit: Ofiniti
Published: 17 June 2025

Continue Reading

Business

China: Shanghai Zhongran and PetroChina Shanghai Port to promote bunker fuel blending business

Development will help improve Shanghai Port’s bonded ship fuel supply industry, noted the Shanghai Customs Inspection Office.

Admin

Published

on

By

Shanghai Zhongran and PetroChina Shanghai Port meeting

A meeting between representatives of Shanghai Zhongran, Shanghai Port Energy, PetroChina Shanghai Port, and Hongkou Customs took place at the Shanghai Customs Inspection Office on Thursday (12 June).

According to Shanghai Zhongran, the meeting’s objective was to discuss the implementation of a high-sulfur and low-sulfur fuel blending business at Shanghai.

During the meeting, a member of the Shanghai Customs Inspection Office stated it will take the opportunity of PetroChina Shanghai Port to carry out this business to promote the development of enterprises in Hongkou District.

The development will improve the utilisation rate of Shanghai Zhongran bonded storage tanks, improve storage functions, and help improve Shanghai Port’s bonded ship fuel supply industry.

After the meeting, PetroChina Shanghai Port submitted a formal application to Hongkou Customs.

Moving forward, Hongkou Customs will formulate a reconciliation plan, open a special account book, and promote the implementation of this business.

 

Photo credit: Shanghai Zhongran
Published: 17 June 2025

Continue Reading

Newbuilding

NYK Group’s first methanol-fuelled bulk carrier “Green Future” delivered

Vessel is the first bulk carrier in the NYK Group to be equipped with a dual-fuel engine that uses methanol and fuel oil.

Admin

Published

on

By

Green Future MT

NYK Group on 13 May received delivery of Green Future, the company’s first methanol dual-fuel bulk carrier, at the TSUNEISHI Factory of TSUNEISHI SHIPBUILDING Co., Ltd. where a naming and delivery ceremony was also held, it said on Thursday (14 June).

The vessel will be chartered by NYK Bulk & Projects Carriers Ltd., an NYK Group company, from KAMBARA KISEN Co., Ltd.

It is the first bulk carrier in the NYK Group to be equipped with a dual-fuel engine that uses methanol and fuel oil.

“Methanol has a lower environmental impact than fuel oil, and by using bio-methanol and e-methanol produced using hydrogen derived from renewable energy sources and recovered carbon dioxide, the vessel achieves significant reductions in greenhouse gas emissions,” it said.

Vessel Particulars
LOA: 199.99 m
Breadth: 32.25 m
Depth: 19.15 m
Deadweight: approx. 65,700 metric tons
Capacity: approx. 81,500 m3
Draft: 13.8 m

Related: Tsuneishi delivers world’s first methanol dual-fuel Ultramax bulker to NYK
Related: Japan: NYK to time-charter its first methanol-fuelled bulk carrier

 

Photo credit: NYK Group
Published: 17 June 2025

Continue Reading
Advertisement

OUR INDUSTRY PARTNERS



Trending