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Mitsui O.S.K. Lines concludes transition loan linked with LNG bunkering vessel “Gas Vitality”

MOL Group plans to launch about 90 LNG-fueled vessels by 2030 as a strategy to introduce clean alternative fuels as part of “MOL Group Environmental Vision 2.1”.

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Gas Vitality

Shipping company Mitsui O.S.K. Lines on Monday (1 November) said it has concluded a transition linked loan to finance one of the world’s largest liquefied natural gas (LNG) bunkering vessels ‘Gas Vitality’.

The bunkering vessel is owned by MOL’s wholly owned subsidiary Emerald Blue Maritime.

The loan is provided by Societe Generale and Sumitomo Mitsui Banking Corporation. The transition finance framework aims to MOL’s climate transition set forth in the “MOL Group Environmental Vision 2.1”.

The loan has been structured in line with a transition finance framework and a sustainability-linked instrument that has acquired third-party certification by DNV Business Assurance Japan for compliance with all four criteria below.

  • International Capital Market Association (ICMA):
    Climate Transition Finance Handbook
  • Financial Services Agency, Ministry of Economy, Trade and Industry, Ministry of the Environment in Japan:
    Basic Guidelines on Climate Transition Finance
  • Loan Market Association (LMA):
    Sustainability Linked Loan Principles
  • Ministry of the Environment in Japan:
    Sustainability Linked Loan Guidelines

The vessel ‘Gas Vitality‘ is the sister ship to the ‘Gas Agility‘, which was delivered in April 2020. The ‘Gas Vitality‘ was delivered at Hudong-Zhonghua Shipbuilding in China on 31 October, 2021 and chartered to TotalEnergies Marine Fuels.

As a cutting-edge LNG bunkering vessel equipped with the most advanced technology and environmental performance features, it plays an important role in promoting the spread of LNG-fueled vessels in the future.

In June of this year, the MOL Group established “MOL Group Environmental Vision 2.1” as a guide to achieve net zero GHG emissions by 2050 and support a sustainable society. Since then, the group has moved forward with various initiatives.

One specific effort is to encourage the wider adoption of LNG as marine fuel by promoting the development of LNG fuel supply systems in Japan and around the world. It plans to launch about 90 LNG-fueled vessels by 2030 as a strategy to introduce clean alternative fuels.

[Outline of the vessel]
Ship name/Delivery date: ‘Gas Vitality‘ (October 31, 2021)
Shipyard: Hudong-Zhonghua Shipbuilding in China
Ship registry/Class: France/Bureau Veritas (BV) (French shipping classification society)
LOA/Breadth/Draft: 135.9M/24.5M/16.0M
Deadweight tonnage: 8,780DWT
Cargo tank capacity: 18.600m3
Cargo tank system: Membrane GTT Mark III Flex

Related: TotalEnergies and MOL names France’s first LNG bunkering vessel “Gas Vitality”

 

Photo credit: TotalEnergies
Published: 2 November, 2021

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Winding up

Singapore: United Ocean Ship Management Pte Ltd to be wound up voluntarily

A liquidator has been appointed at an extraordinary general meeting held on 12 June for the purpose of winding up company’s affair, according to Government Gazette notice.

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RESIZED Drew Beamer

Several resolutions for United Ocean Ship Management Pte Ltd were made during an extraordinary meeting held on 12 June, according to a post in the Government Gazette on Friday (19 June).

According to the company’s website, United Ocean Ship Management was founded in 2012 in Singapore and specialises in ship management services. The company manages a fleet of Floating Storage Tankers (FSUs) in Singapore, Malaysian, and Indonesian waters, currently comprising nine ULCC/VLCC/FSUs.

The duly passed resolutions were:

AS SPECIAL RESOLUTIONS

  • That the Company be wound up voluntarily pursuant to Section 160(1) of the Insolvency, Restructuring and Dissolution Act 2018 (the “Act”)
  • That the Liquidator be and is hereby authorised to exercise any or all of the powers given by Section 144 (1)(b), (c), (d), (e), (f) and (g) and 144 (2) of the Act.
  • That the Liquidator be authorised to distribute either in cash or in specie any part or all of the surplus assets of the Company to the contributories.

AS ORDINARY RESOLUTIONS

  • That Ms. Muk Siew Peng of c/o ClearView Associates Pte Ltd 133 New Bridge Road #08-01 Chinatown Point Singapore 059413 be and hereby appointed as Liquidator for the purpose of winding up the affairs of the Company.
  • That the renumeration and winding up disbursements of the Liquidator be fixed on a time basis at the rates normally charged by such an assignment.
  • That the Liquidator be authorized to destroy all the books and records/papers of the Company and of the Liquidator five years after the date of dissolution of the Company pursuant to Section 195(2) of the Act.

In another notice, the liquidators of United Ocean Ship Management said creditors for the company are required on or before the 20 July to send in their names and addresses and particulars of their debts or claims, and the names and addresses of their solicitors (if any) to the liquidators. 

Liquidators may also require creditors to, “come in and prove their debts or claims at such time and place as shall be specified in such notice, or in default thereof they will be excluded from the benefit of any distribution made before such debts are proved.”

The liquidators can be contacted at the following address:

Muk Siew Peng
Liquidator
c/o ClearView Associates Pte Ltd
133 New Bridge Road
#08-01 Chinatown Point
Singapore 059413

 

Photo credit: Drew Beamer
Published: 22 June, 2026

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LNG Bunkering

Dan-Bunkering supports Sallaum Lines with LNG bunkering operation in China

“Ocean Express” is one of six newbuilds in the series and represents the fourth supply opportunity Dan-Bunkering has supported so far.

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Dan-Bunkering supports Sallaum Lines with LNG bunkering operation in China

Global bunker supplier Dan-Bunkering on Friday (19 June) said it has recently concluded an LNG delivery in China for Sallaum Lines’ newbuild Pure Car and Truck Carrier (PCTC), Ocean Express

The delivery involved approximately 1,400 metric tonnes (mt) of LNG bunker fuel. 

This delivery is the outcome of a development process that began around April 2025, during which Dan-Bunkering worked with Sallaum Lines to evaluate several LNG supply opportunities in China linked to the company’s newbuild programme. 

Ocean Express is one of six newbuilds in the series and represents the fourth supply opportunity Dan-Bunkering has supported so far.

For this delivery, Dan-Bunkering said it secured a ship-to-ship supply solution aligned with the vessel’s operational requirements. The solution was made possible through close cooperation with supply partner SIPG Energy.

“This is a great example of what it takes to support clients in the transition to alternative fuels,” said James Shiller, Global Lead of New Fuels at Dan-Bunkering, and continues:

“LNG bunkering is not always straightforward, particularly during a first full bunker operation. Success depends on local knowledge and persistent cooperation across teams. Sallaum Lines trusted us and SIPG Energy to keep working the options, and we are proud that all involved teams turned a challenging situation into a successful delivery. We value the relationship and look forward to supporting their remaining newbuild deliveries.”

The company added that the delivery was made possible through close coordination across Dan-Bunkering and the wider Group, including Dan-Bunkering’s Netherlands office, Bunker Holding’s specialists and sourcing team.

 

Photo credit: Dan-Bunkering
Published: 22 June, 2026

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Bunker Fuel Quality

Fuel quality issues drive 50% rise in bunker claims, says Gard

Gard says bunker-related claims increased significantly in between January and May 2026, with over 70 cases recorded – a 50% rise compared to 2025 and notes that most claims involve fuel quality.

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RESIZED Shaah Shahidh on Unsplash

Maritime protection and indemnity (P&I) club Gard on Friday (19 June) released a report on practical observations from recent cases of bunker-related claims, highlighting recurring challenges and essential considerations for managing fuel quality issues effectively:

Key findings

  • Sharp rise in bunker claims and geopolitics: Bunker-related claims increased significantly in early 2026, with over 70 cases recorded – a 50% rise compared to 2025. Most claims involved fuel quality, with a noticeable uptick following the escalation of the Middle East conflict.
  • Global risk profile with concentration driven by supply volumes: Bunker quality incidents were recorded worldwide, reflecting a broadly dispersed and global risk environment rather than a localized issue. Higher numbers of claims at major hubs such as Singapore, Houston, and ARA mainly reflect their large bunkering volumes
  • VLSFO remains the primary source of claims: Very Low Sulphur Fuel Oil (VLSFO) accounts for the vast majority of bunker quality claims. Its complex blended nature increases the likelihood of variability and contamination, making it more prone to quality issues. This reinforces that VLSFO continues to be the key technical risk area in marine fuel usage.
  • ISO 8217 compliance does not guarantee fuel suitability: A significant proportion of cases involved fuels that met ISO 8217 Table 2 parameters but still caused operational issues and damage to machinery. This underscores the growing importance of Clause 5, which focuses on whether fuel is fit for use and free from harmful substances. Standard testing alone is often insufficient, requiring more advanced analysis to identify problematic contaminants.
  • Claims are driven by both technical and contractual challenges: Bunker disputes are often complex due to misaligned contractual relationships between owners, charterers, and suppliers. Issues related to binding sample, parameter(s) to be tested, time bars and evidentiary requirements frequently complicate claims resolution.
  • Operational impact is often underestimated compared to headline casualties: While no major casualties were directly linked to poor fuel in this dataset, several vessels were disabled or required towage. These incidents can create high exposure when occurring in congested or coastal waters. The absence of catastrophic outcomes should not obscure the underlying operational risk.

This report draws on Gard’s claims data from the first five months of 2026, with additional data contributions from VPS.

Note: The full report titled ‘Beyond Specification: Bunker claims insights in early 2026’ can be found here

 

Photo credit: Shaah Shahidh on Unsplash
Published: 22 June, 2026

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