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

2 years ago

January 16, 2025

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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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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

LNG Bunkering

CIMC SOE secures order for 12,000-cbm LNG bunkering vessel from Sinopec Clean Energy

Once operational, the vessel is expected to strengthen Sinopec’s domestic coastal LNG bunkering network and help address gaps in China’s alternative fuel bunkering infrastructure.

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July 21, 2026

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CIMC SOE secures order for 12,000-cbm LNG bunkering vessel from Sinopec Clean Energy

China’s Nantong CIMC Sinopacific Offshore & Engineering Co., Ltd. (CIMC SOE) recently signed a contract with Sinopec (Beijing) Clean Energy Co., Ltd. to build a 12,000-cubic metre (m3) LNG bunkering vessel, according to Chinese maritime media.

The vessel is scheduled for delivery in 2028 and will support Sinopec’s efforts to expand its presence in the marine clean energy sector.

Once operational, the vessel is expected to strengthen Sinopec’s domestic coastal LNG bunkering network and help address gaps in China’s LNG bunkering infrastructure.

With this signing , CIMC Pacific Offshore Engineering’s LNG bunkering vessel orderbook is further strengthened, maintaining its leading position in the global market for small and medium-sized LNG bunkering vessels.

The contract also marked another milestone for CIMC SOE, which has seen a sharp increase in orders and business performance this year amid a surge in domestic LNG vessel demand.

Photo credit: Nantong CIMC Sinopacific Offshore & Engineering
Published: 21 July, 2026

Nuclear

ABS awards AiP to Korean institute for SMR-powered container ship concept design

KRISO says AiP recognises the technical feasibility and safety of its concept design, marking an important milestone toward the development of next-generation nuclear-powered commercial ships.

Published

17 hours ago

July 21, 2026

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ABS awards AiP to Korean institute for SMR-powered container ship concept design

Korea Research Institute of Ships & Ocean Engineering (KRISO) on Thursday (16 July) received Approval in Principle (AiP) from the American Bureau of Shipping (ABS) for its concept design of a 15,000 TEU Small Modular Reactor (SMR)-powered container ship utilising Molten Salt Reactor (MSR) technology.

KRISO said the AiP recognises the technical feasibility and safety of its concept design, marking an important milestone toward the development of next-generation nuclear-powered commercial ships.

“This achievement demonstrates international recognition of KRISO’s technological capabilities in the rapidly evolving field of nuclear-powered shipping, supporting the transition toward low-carbon maritime transport,” it said.

Building on this milestone, KRISO will continue advancing basic and detailed ship design, paving the way for future demonstration and commercialisation of SMR-powered vessels.

Through continued R&D and international collaboration, KRISO remains committed to strengthening next-generation maritime technologies and contributing to the safe deployment of nuclear propulsion in the maritime industry.

Photo credit: Korea Research Institute of Ships & Ocean Engineering
Published: 21 July, 2026