Technology

TFG Marine taps eBDNs for USD300 million working capital facility from DBS

Supported by TFG Marine’s collaboration with both ZeroNorth and SGTraDex, eBDNs will be provided to support efficient and reliable audit and verification of transactions financed by the facility.

Published

2 months ago

May 7, 2026

Admin

TFG Marine taps eBDNs for USD300 million working capital facility from DBS

Global marine fuel supply and procurement firm TFG Marine on Wednesday (6 May) said it has signed a working capital financing facility of up to USD300 million with DBS Bank (DBS).

The facility will contribute to funding TFG Marine’s working capital requirements, further strengthening the company’s liquidity position and underpinning its operations as one of the world’s leading physical suppliers of marine fuels.

Supported by TFG Marine’s collaboration with both ZeroNorth and Singapore Trade Data Exchange Services Pte. Ltd. (SGTraDex), electronic bunker delivery notices (eBDNs) will be provided to support efficient and reliable audit and verification of transactions financed by the facility.

The use of eBDNs, facilitated through the ZeroNorth and SGTraDex platforms, provides a verifiable, real-time digital record of bunker deliveries and builds on TFG Marine’s existing collaboration with ZeroNorth in the deployment of this technology. The two companies have worked together to roll out digital bunker delivery solutions across multiple regions, including the first deployment of an eBDN solution in the Middle East at the Port of Sohar, Oman.

Bennett Pekkattil, Chief Financial Officer of TFG Marine, said: “We are grateful for DBS’ support and encouraged by their recognition of the greater need for digital transparency in the marine fuels industry. We hope that more financial institutions will follow their lead, and we look forward to continuing to develop our digital capabilities in support of more efficient and resilient supply chains. By deploying electronic bunker delivery notices through our collaboration with ZeroNorth and SGTraDex, we continue to advance our transparency and data integrity objectives.”

Terence Yong, Global Head of Sales, Global Transaction Services at DBS Bank, said: “Through this deal with TFG Marine, we are proud to have championed a further benchmark in digital trade financing, now for the marine fuel industry. This digital financing solution provides expanded trade capacity, improves transparency and operational efficiency, reduces trade risk and eliminates friction.

“This is especially relevant to Singapore as the world’s leading bunkering hub. We are grateful to have once again advanced business impact through innovation, underscoring a success factor of the longstanding strategic relationship between DBS and TFG Marine.”

Nicolas Queru, Chief Growth Officer at ZeroNorth, said: “This transaction is a great example of the growing financial value of trusted data. Greater transparency can strengthen confidence across the transaction chain and improve access to capital. We are proud to support TFG Marine in demonstrating the tangible financial value digital infrastructure can create.”

Jefferson Wong, CEO of SGTraDex Services and COO of DEX, said: “We congratulate TFG Marine and DBS on this landmark facility. As early participants of the data exchange utility, both organisations have been instrumental in digitalising the marine fuels sector.

“This collaboration marks a shift from on-request use of eBDNs to a model where banks can access eBDNs on-demand, paving the way for the digital document to become integral to marine fuel financing. SGTraDex and DEX remain focused on providing the neutral, secure data infrastructure necessary to scale such initiatives and invite more players to onboard this interoperable ecosystem.”

Photo credit: TFG Marine
Published: 7 May, 2026

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Engine

Eight classification societies oversee successful TAT of Everllence ammonia engine

Everllence announced the successful Type Approval Test of its ME-LGIA ammonia-burning engine at its Research Centre Copenhagen.

Published

20 hours ago

June 22, 2026

Admin

Eight classification societies oversee successful TAT of Everllence ammonia engine

Everllence recently announced the successful Type Approval Test (TAT) of its ME-LGIA ammonia-burning engine at its Research Centre Copenhagen (RCC).

Eight classification societies oversaw the testing that took place from 10 to 12 June, marking the latest phase in the engine’s journey towards its market debut.

Bjarne Foldager, Head of Two-Stroke Business, Everllence, said: “The TAT is yet another important step as we definitively move from concept development to seagoing engine operation. It confirms the Everllence B&W ME-LGIA as ready for on-board installation and is the last test before actual sea and gas trials.

“This engine sets new benchmarks in zero-carbon propulsion and digitally connected performance, and has attracted great interest since its development was announced in 2019. It stands testament to Everllence’s unique ability to meet demands and bring innovative fuels to market.”

Everllence officially marketed the ME-LGIA engines at a two-day event in Copenhagen in November 2025. Using the Diesel principle and the well-known, dual-fuel Liquid Gas Injection concept, the engine has a proven track record of several hundred thousand operational hours.

Ole Pyndt Hansen, Senior Vice President, Head of Two-Stroke R&D, Everllence, said: “The TAT is also important in relation to maturing IMO ammonia regulations as it is vital that rules and guidelines are in line with reality to optimise safety onboard vessels.

“This experience comes from industry and the first ammonia-driven ships, which are expected to operate at sea during 2026, will act as compelling input for the development of these guidelines.”

Everllence also noted that the ammonia TAT marked the end of an era with it being the final TAT at the RCC in Copenhagen before the company moves location to outside the city in late-2027.

Photo credit: Everllence
Published: 22 June, 2026

Engine

BeHydro secures LR’s first class approval for 100% hydrogen marine engine

Engine has been developed and tested at ABC Engines’ facility in Ghent and is designed to operate entirely on hydrogen, without the need for pilot fuels.

Published

4 days ago

June 19, 2026

Admin

BeHydro secures LR’s first class approval for 100% hydrogen marine engine

Classification society Lloyd’s Register (LR) on Wednesday (17 June) said it has issued the first Type Approval Certificate for a 100% hydrogen-fuelled, spark-ignited marine engine.

The approval has been awarded to the hydrogen engine developed by BeHydro and confirms the design meets LR’s requirements for safety, performance and reliability in marine applications.

The engine has been developed and tested at ABC Engines’ facility in Ghent and is designed to operate entirely on hydrogen, without the need for pilot fuels. This simplifies system design and removes onboard carbon emissions at source, positioning the technology as a practical option for operators exploring zero-carbon propulsion.

Claudene Sharp-Patel, Global Technical Director, Lloyd’s Register, said: “The issue of this Type Approval Certificate demonstrates that hydrogen-fuelled internal combustion engine technology is continuing to mature as a viable option for maritime applications.

“For shipowners and operators, independent certification is essential in building confidence that emerging fuel technologies can meet the industry’s expectations for safety, reliability and operational performance.”

Tim Berckmoes, CEO at ABC Engines, said: “This LRS type approval of our BeHydro 100% hydrogen engines with zero emissions is a confirmation of the future proof technology that BeHydro can offer to innovative shipowners worldwide.

“The 100% hydrogen engine range is available from 900 kW till 2670 kW for different marine applications.”

LR previously awarded Type Approval to BeHydro for its hydrogen-powered dual-fuel engine in 2023, which was the first Type Approval for a dual-fuel hydrogen engine.

Photo credit: Lloyd’s Register
Published: 19 June, 2026

Mass Flowmeter

MFM-equipped CPN barge first listed under Hong Kong quality bunker scheme

Chimbusco Pan Nation’s bunker barge “Zhong Ran 23” has become the first vessel in Hong Kong listed on Marine Department’s official List of Quality Bunker Vessels, under a newly-launched scheme.

Published

6 days ago

June 17, 2026

Admin

MFM-equipped CPN barge first listed under Hong Kong quality bunker scheme

Hong Kong-based marine fuel supplier Chimbusco Pan Nation (CPN) on Tuesday (16 June) announced that its bunker barge Zhong Ran 23 has become the first vessel in Hong Kong listed on the Marine Department’s official List of Quality Bunker Vessels.

The list under the Quality Bunker Operator Scheme launched on 3 June.

“The Scheme is a voluntary initiative designed to raise the standard of bunkering accuracy, transparency, and service quality in Hong Kong,” CPN said in a social media post.

“To be listed, a bunker vessel must have its Mass Flow Meter (MFM) system independently certified under ISO 22192, the international benchmark for mass flow metering in bunkering operations.”

CPN added it has operated the MFM system across our fleet of fuel oil barges since 2015.

Manifold Times previously reported Hong Kong’s Marine Department (MD) launching the Quality Bunker Operator Scheme to encourage bunker operators to install and use mass flow meter systems (MFM systems) on their bunker vessels.

MD said the scheme aims to enhance Hong Kong’s bunkering service quality and the competitiveness of Hong Kong ports, thereby further consolidating Hong Kong’s position as an international maritime centre and a major bunkering port.

Under the Scheme, bunker operators of traditional maritime fuel and biodiesel that install and use MFM systems on their bunker vessels, with the MFM systems inspected and certified by an accredited body in accordance with the International Organization for Standardization’s ISO 22192 Standard or equivalent requirements, can apply to the MD for inclusion in the scheme’s “List of Quality Bunker Vessels”, provided they meet the relevant technical and operational requirements.

Photo credit: Chimbusco Pan Nation
Published: 17 June, 2026