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UK-based Propeller Fuels opens trading office in Dubai to grow presence in Middle East

Key location enables firm’s team to provide service to customers and suppliers close to one of the world’s major bunkering hubs – Fujairah – along with local UAE surrounds, says firm.

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Propeller Fuels Limited (PFL), the UK-based physical supplier and global bunker trader, on Wednesday (6 February) announced the opening of its new trading office in Dubai. 

“The JLT based office is the next step in growing our presence in the Middle East market. This key location enables our team to provide high quality service to customers and suppliers close to one of the world's major bunkering hubs – Fujairah - along with local UAE surroundings,” it said in a social media post. 

“We have recently appointed Matthew Parkhurst as Group Supply Manager in Dubai. Matthew brings a wealth of procurement knowledge and relationships, which will add value to the purchasing requirements of our clients, helping guide on best price, purchasing practice and quality guidance, due to his prior experience on the buying side from a globally renowned ship owner.”

Manifold Times previously reported PFL successfully extended a funding application of over eight figures with their banking partners HSBC UK, effectively doubling their funding facility.

To allow the company to be adequately resourced for the next phase in its expansion into Scandinavia and Asia, PFL engaged with its banking partner HSBC UK seeking to double its financing facility and were delighted to receive the approval and full backing of HSBC UK for the facility increase.

PFL started trading late 2017 as a physical supplier in most UK ports, with particular emphasis on the UK eastern Seaboard. Operating primarily using the storage and extensive delivery assets of partner and corporate shareholder Your NRG (previously Oil NRG), PFL quickly grew to become a key UK supplier by RTW, with the focus being on Marine Gasoil.

In 2019, PFL branched out into international trading, with the recruitment of several experienced traders into the UK office supporting this initiative. This activity was supported by a finance facility provided by the company’s banking partners, HSBC UK. This initial facility provided the capacity for Propeller Fuels to grow its business and service a larger global market.

 

Photo credit: Propeller Fuels
Published: 7 February, 2023

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LNG Bunkering

Japan: MOL’s third LNG-fuelled ferry “Sunflower Kamuy” starts operation in Oarai

“Sunflower Kamuy” will serve the Oarai-Tomakomai route between Ibaraki Prefecture and Hokkaido as a replacement for the Sunflower Daisetsu, says MOL.

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Japan: MOL third LNG-fuelled ferry “Sunflower Kamuy” starts operation in Oarai

Mitsui O.S.K. Lines (MOL) on Thursday (23 January) announced that the LNG-fuelled ferry Sunflower Kamuy, owned by MOL and operated by its group company MOL Sunflower, entered service in Oarai.

The vessel will be the third LNG-fuelled ferry operated by MOL Sunflower, following the Sunflower Kurenai and Sunflower Murasaki, which have been in service on the Osaka-Beppu route from 2023.

Sunflower Kamuy will serve the Oarai-Tomakomai route between Ibaraki Prefecture and Hokkaido as a replacement for the Sunflower Daisetsu.

Along with the sister vessel Sunflower Pirka, scheduled to enter service in early summer 2025, MOL Sunflower will operate a fleet of four LNG-fuelled ferries on the Oarai-Tomakomai route and the Osaka-Beppu route within 2025. 

MOL Sunflower operates 10 ferries and 4 RoRo vessels on six routes throughout Japan, from Hokkaido to Kyushu, providing service for both logistics and passengers in Japan.

 

Photo credit: Mitsui O.S.K. Lines
Published: 24 January, 2025

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Winding up

Singapore: Notice of preferential dividend issued for Asia-Pacific Shipyard

Creditors will need to submit proofs to liquidators of Asia-Pacific Shipyard Pte Ltd by 6 February, according to a Government Gazette notice.

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RESIZED Drew Beamer

A notice of preferential dividend for Otto Marine Limited, which is in liquidation, was published on the Government Gazette on Friday (9 September). 

The following are details of the notice:

Name of Company : Asia-Pacific Shipyard Pte Ltd (In Creditors’ Voluntary Liquidation)
Unique Entity No./Registration No. : 197300183MAddress of Registered Office : 8 Wilkie Road, #03-08 Wilkie Edge, Singapore 228095

Last Day for Receiving Proofs : 6 February 2025

Name of Liquidators : Ng Kian Kiat and Yap Hui Li

Address of Liquidators : c/o RSM SG Corporate Advisory Pte. Ltd., 8 Wilkie Road #03-08, Wilkie Edge, Singapore 228095

 

Photo credit: Drew Beamer
Published: 24 January, 2024

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LNG Bunkering

SEA-LNG report: Number of LNG-fuelled vessels in operation up by over 33% in 2024

Based on its latest ‘View from the Bridge’ report, SEA-LNG reported an annual vessel growth of over 33% to 638 LNG-fuelled vessels in operation worldwide in 2024.

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SEA-LNG report: Number of LNG-fuelled vessels in operation up by over 33% in 2024

Industry coalition SEA-LNG on Thursday (24 January) reported an annual vessel growth of over 33% to 638 LNG-fuelled vessels in operation worldwide in 2024. 

This was one of the findings of SEA-LNG’s annual ‘View from the Bridge’ report, highlighting 2024 as another year of growth for the LNG pathway. 

Analysing data from SEA-LNG members, the report found that global market adoption and growth reached record heights in 2024. 

Looking forward, over 1,200 vessels are expected to be operating by the end of 2028. In 2024, LNG dual-fuelled vessels accounted for 70% of alternative fuelled tonnage ordered, excluding LNG Carriers, up from 43% in 2023. 

This record expansion follows the growing availability of LNG bunker fuel beyond the traditional bunkering hubs. Currently, LNG bunkers are accessible in approximately 198 ports worldwide, and plans are underway for bunkering facilities in an additional 78 ports. This comes as over 60 LNG bunkering vessels are operating today, marking a 22% increase from 2023. 

The ‘View from the Bridge’ report also highlights how the LNG pathway took a significant step in 2024, with liquified biomethane delivering on decarbonisation and regular renewable e-methane supplies expected in 2026. 

SEA-LNG members are prepared to offer biomethane bunkers in some 70 ports globally, with multiple bunkering operations already taking place. 

A highlight was the successful biomethane bunkering pilot as part of the Methane Track within the Rotterdam-Singapore Green and Digital Shipping Corridor (GDSC). This was the first practical delivery of any international Green Corridor since they were announced as part of the Clydebank Declaration at COP 26 in Glasgow. 

Peter Keller, chairman of SEA-LNG, said: “Our latest View from the Bridge reaffirms the importance of the LNG pathway as a practical and realistic route to shipping’s decarbonisation now. We continue to believe that the shipping industry is heading towards a successful multi-fuel future where LNG will always play a critical role.”

“To deliver net zero by 2050 across the global shipping fleet, a basket of fuels is required and the LNG pathway will continue to lead the way. This is not a case of my fuel versus your fuel but rather which fuel best allows the industry to reach its stated goals. The LNG pathway provides the path to net zero.” 

SEA-LNG’s latest report also highlights that 2024 has seen considerable progress in addressing methane slip. “Advances in eliminating methane slip, in combination with biomethane and e-methane, provide a clear, effective, and viable long-term pathway towards net zero emissions. Shipowners and operators can be confident that the vessels ordered today are future-proofed for their lifespan.”

“With a proven track record of technical improvements to reduce methane slip and upstream emissions, coupled with tighter regulations from global and regional authorities, we continue to believe methane slip will be a non-issue by the end of this decade,” Keller continued.   

FuelEU Maritime will be a key regulation in advancing shipping industry decarbonisation, heading into 2025. According to analysis from SEA-LNG, FuelEU Maritime creates a favourable environment for the LNG pathway. 

With the ability to achieve GHG emissions reductions of up to 23%, LNG-fuelled vessels are compliant until 2039. The use of liquefied biomethane and e-methane can extend compliance through to 2050 and beyond. 

Note: The full report is available for download here.

 

Photo credit: SEA-LNG
Published: 24 January, 2025

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