Bunker Fuel

Uni-Fuels becomes first Singapore-based marine fuel provider to list in US

With its debut on Nasdaq, Uni-Fuels plans to both enhance its present offerings to customers as well as accelerate its provision of alternative marine fuels, such as biofuel and liquefied natural gas.

Published

5 months ago

January 16, 2025

Admin

Uni-Fuels becomes first Singapore-based marine fuel provider to list in US

Uni-Fuels Holdings, (Uni-Fuels), the ultimate parent of Singapore-based marine fuels trading and brokerage firm Uni-Fuels Pte Ltd, on Wednesday (15 January) announced its successful initial public offering (IPO) on the Nasdaq Stock Market, becoming the first Singapore-based marine fuel provider to be listed in the United States.

This milestone, said Uni-Fuels, is expected to further strengthen the company’s position in the global marine fuel market and underscore its commitment to innovation, growth, and excellence within the marine fuel industry.

“We are extremely honoured to be the first homegrown Singaporean marine fuel provider to list on Nasdaq and in the US,” said chief executive officer Koh Kuan Hua.

“This achievement reflects the hard work and dedication of our team, as well as the confidence investors have in our business model and long-term vision.

“We believe our Nasdaq listing will enable us to expand our global footprint, enhance our capabilities, sign new partnerships, and continue provision of quality marine fuel solutions to our customers worldwide.”

Mr. Koh said the company plans to both enhance its present offerings to customers as well as accelerate its provision of alternative marine fuels, such as biofuel and liquefied natural gas, that align with global regulatory decarbonisation requirements towards cleaner and sustainable marine fuels.

“As Uni-Fuels embarks on its journey as a publicly traded company, we will remain focused on advancing our position as a fast-growing, forward-thinking provider in the marine fuel industry,” said Mr. Koh.

“We believe this IPO will unlock significant potential for our company and provide a solid foundation for long-term value creation for our shareholders.”

“Moving forward, our focus will remain on delivering superior service, driving innovation, and contributing to the development of the global marine fuel industry.”

On the same day, Uni-Fuels announced the closing 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 to the company, before underwriting discounts and commissions.

The IPO closed on 15 January and the Class A Ordinary Shares commenced trading on Nasdaq Capital Market on 14 January under the ticker symbol “UFG.”

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 IPO 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.

Photo credit: Uni-Fuels Holdings
Published: 16 January, 2025

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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.

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June 17, 2025

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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.”

Photo credit: Ofiniti
Published: 17 June 2025

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.

Published

23 hours ago

June 17, 2025

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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

Photo credit: NYK Group
Published: 17 June 2025

Ammonia

Yara Clean Ammonia voices support for ammonia bunkering pilot

Pilot has generated crucial real-world data and best practices for future ammonia bunkering operations globally.

Published

24 hours ago

June 17, 2025

Admin

Yara Clean Ammonia (YCA), the world’s largest trader and distributor of ammonia, on Friday (13 June) announced its key role in a landmark maritime decarbonisation initiative led by the Global Centre for Maritime Decarbonisation (GCMD).

The successful completion of the first-ever ship-to-ship transfer (STS) of ammonia at anchorage in Western Australia marks a major milestone in paving the way for ammonia as a viable marine fuel, it said.

Under the supervision of the Pilbara Port Authority (PPA), the pilot took place within the anchorage area of Port Dampier, simulating real-world bunkering conditions and demonstrating that ammonia transfer can be executed safely and effectively offshore.

According to YCA, the trial builds on the insights from GCMD’s prior safety study in Singapore and confirms that, with the right controls in place, ammonia STS transfers at anchorage are both safe and scalable.

The pilot has also generated crucial real-world data and best practices for future ammonia bunkering operations globally.

“This successful trial is a pivotal step towards building trust in ammonia as a zero-to-near-zero emission (ZNZ) maritime fuel,” said Murali Srinivasan SVP Commercial in Yara Clean Ammonia.

“It’s the result of world-class collaboration and careful planning—and it shows that with the right safeguards, ammonia bunkering is not only feasible but practical.”

Photo credit: Yara Clean Ammonia
Published: 17 June 2025