Business

VPS TALKS: Decarbonisation

Maress software developed by VPS Yxney uses available data to help decarbonise maritime operations by creating insight, transparency and network collaboration.

Published

5 years ago

July 28, 2021

Admin

By Sindre Bornstein, Chief Commercial Officer of VPS Yxney

Sustainable data-driven decarbonisation to achieve emissions targets

Market drivers within the maritime industry are -without doubt- changing. Consensus is building around the need to reduce maritime emissions and we are beginning to see the emergence of tomorrow´s winners. Having a low carbon footprint and a credible strategy for the transition towards sustainable operations are becoming key targets for the global fleet. Further, there is a new expectancy for data access and emissions transparency from stakeholders such as clients, investors, employees, media and authorities.

The questions every vessel owner/operator/charterer need to ask themselves at this point is are we doing enough? Are we using our vessel data in a smart way to make the right strategic decisions to reduce the fleet emissions and maintain our competitive position?

The Maress software developed by VPS Yxney, is designed to provide decision makers with the necessary insight in this transition. It has been designed and built in close dialogue with leading vessel operators. In short, Maress uses available data to help decarbonise maritime operations by creating insight, transparency and network collaboration.

Last year, Maress clients achieved a CO2 reduction of more than 60,000 tons. Having the right operational insight and analytics allows for precise decisions on what initiatives to take, and to measure the outcomes of those initiatives. At VPS Yxney, we believe that it is key to implement solutions that enable decision-makers at operational and strategic levels to see the same picture – and to create the foundation for a new form of dialogue underpinning a culture of change.

Taking the necessary steps to becoming a fully data-driven company may seem overwhelming to many. It’s very easy to get stranded at the starting blocks. Building the necessary competence and choosing an affordable yet © Copyright 2020. Veritas Petroleum Services Group. All rights reserved. www.vpsveritas.com applicable technical set-up can seem huge hurdles to overcome. However, with Maress, the vessel owner has the flexibility to use data from existing systems on the vessels and connect via the cloud. This allows for a cost effective and quick roll-out across entire fleets. Indicative savings on a fleet level in the range of 3-7% provides for a solid return on investment.

Vessel owners, crews, and end clients will easily gain a holistic understanding of the efficiency and emissions footprint from whole fleets and single vessels. …and not least, what measures to take to reduce emissions. We call it data driven decarbonisation.

For more information on how your company can smartly use data to improve operational performance and achieve significant emissions reductions, please reach out to:

Sindre Stemshaug Bornstein
[email protected]

Photo credit: VPS
Published: 28 July, 2021

Legal

Singapore withdraws remaining 127 charges against Hin Leong founder OK Lim

Lim Oon Kuin, also known as OK Lim, was issued a stern warning and a district court granted him a discharge amounting to an acquittal for these charges on 17 July.

Published

15 hours ago

July 21, 2026

Admin

Founder of collapsed oil trader Hin Leong Trading, Lim Oon Kuin, also known as OK Lim, has had the remaining 127 charges against him withdrawn, according to The Straits Times on Monday (20 July).

OK Lim was issued a stern warning and a district court granted him a discharge amounting to an acquittal for these charges, including those for cheating, on 17 July. The discharge means Lim cannot be prosecuted again for the same offences.

Lim, 84, is currently serving a 13½-year prison sentence after the High Court reduced his original 17½-year jail term in March 2026. He was convicted in 2024 on two cheating charges and one count of abetting forgery in a case prosecutors described as one of Singapore’s most serious trade finance frauds.

Lim was convicted in May 2024 of two charges of cheating the Hongkong and Shanghai Banking Corporation (HSBC) and one count of abetting forgery that proceeded to trial out of a total of 130 criminal charges.

He was first charged in court on 14 August 2020, and was subsequently handed further charges in court on 25 September 2020, 30 April 2021 and 24 June 2021 for his role in perpetuating fraud on various financial institutions.

A total of 130 charges were eventually brought against him for cheating and forgery-related offences.

Photo credit: Sora Shimazaki
Published: 21 July, 2026

Winding up

Singapore: Coastal Logistics Pte Ltd to be wound up voluntarily

Coastal Logistics was reportedly affiliated with troubled Singapore bunker player Coastal Oil (Singapore) Pte Ltd.

Published

15 hours ago

July 21, 2026

Admin

Several resolutions for Coastal Logistics Pte Ltd were made during an extraordinary general meeting held on 14 July, according to a notice in the Government Gazette on Friday (4 July).

The following resolutions were duly passed during the meeting:

As Special Resolution

That it has been proved to the satisfaction of the meeting that the Company cannot by reason of its liabilities continue its business and accordingly the Company be wound up voluntarily pursuant to Section 160(1)(b) of the Insolvency, Restructuring and Dissolution Act 2018 (No. 40 of 2018);

As Ordinary Resolutions

that Mr. Wong Pheng Cheong Martin and Ms. Koay May Yee, both care of FTI Consulting (Singapore) Pte Ltd, One Raffles Quay, #27-10 South Tower, Singapore 048583 be appointed as the joint and several Liquidators of the Company for the purpose of such winding up; and
that the Liquidators be at liberty to open, maintain and operate any bank account(s) or account(s) for monies received by them as Liquidators with such bank(s) as they deem fit; and
that a Committee of Inspection will not be formed.

Manifold Times previously reported Nicholas James Gronow, director of Heng Tong Fuels & Shipping and Coastal Logistics, filed statutory declarations for both companies stating the firms cannot continue their businesses due to liabilities.

Both companies were reportedly affiliated with troubled Singapore bunker player Coastal Oil (Singapore) Pte Ltd.

In 2019, several vessels owned by both firms entered the sale & purchase (S&P) market in Singapore.

Photo credit: Drew Beamer
Published: 21 July, 2026

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.

Published

15 hours ago

July 21, 2026

Admin

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