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SIBCON 2022 Interview: Co-Convenors offer insights into Singapore’s upcoming Digital Bunker Document Standard

Eventual adoption of Digital Bunker Document Standard speeds up interoperability between stakeholders from both public and private sectors, learns Singapore bunkering publication Manifold Times.
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AARON Digital Bunker Document Standard

The following interview with Dennis Ho and Tan Sian Lip, both Co-Convenors for the Working Group on Electronic Documentation for Bunkering, is part of coverage for the upcoming Singapore International Bunkering Conference and Exhibition (SIBCON) 2022, where Manifold Times is an official media partner. 

Mr Ho, the Managing Director of ElbOil Singapore, and Mr Tan, the Founder & CEO of Halialabs, provide the bunkering publication with an update on the development of Singapore’s Digital Bunkering Document Standard standardisation.

MT: What is the new Digital Bunker Document Standard effort and how is it different from previous attempts? What is the status of this work?

The Digital Bunkering Document Standard standardisation project, an effort which started in October 2021, is a pro-competition and market-friendly initiative that specifies the characteristics of digital documents to be exchanged by participants within the bunkering ecosystem.  

This initiative aims to achieve several key outcomes:

  • The first is that the bunkering community will be able to create digital plug & play documents, usable by any IT solution or platform across the ecosystem without intermediaries.
  • The second is that structured data should flow together with these documents.  
  • The third is for the bunkering community’s graceful evolution wherein early adopters are not held back by slower ones and the slower ones are not forced to move in lock-step with their faster counterparts.

It is important to note the standardisation does not involve specifying or building IT systems. Market participants will, however, be encouraged to do so on their own as they adopt this new standard.

The standard working group is currently in the stage of validating working drafts of specifications to assess their fit towards specific business needs within the bunkering ecosystem.  

MT: What benefits does electronic documentation offer for the local bunkering sector? 

The advent of computers and digital communications have resulted in time spent waiting for couriers disappearing into history. However, friction points between the internal e-documentation systems of different stakeholders still exist.

Standardised e-documents seek to eliminate delays and errors from manual data-entry and the time and expense of adjusting one’s IT systems to accommodate counterparties’ different data-definitions.

Unlike physical documents, e-documents are less vulnerable to tampering as anyone who receives a copy will be able to independently verify their integrity.  

E-documentation also offers flexibility in business process design as any copy stored anywhere will be as (verifiably) reliable as an original copy. Knowing whether a document back-up is dependable will, consequently, also become simpler as there is no need to depend on the security of a document’s chain-of-custody.

Businesses’ ability to change IT service providers and business partners will increase because standardised e-documents will allow businesses to process documents and data coming from any organisation and system.

MT: Who are the parties driving the development of the Digital Bunker Document Standard?

This initiative is a national standard development effort under the Singapore Standards Council. The Technical Committee for Bunkering (Liquid Ambient Fuels) undertook the task of coming up with a standard specification for digitalisation in the bunker industry in 2021 and a working group (WG) was subsequently set up in 2021 with individuals drawn the bunkering industry.

The WG includes players from the various sectors: Bunker Suppliers, Traders, Oil Terminals, Vessel Owners/Operators, Surveyors, Laboratories, Business Associations (SCIC, SSA), meter vendors, government bodies (MPA, NMC, , IMDA) and relevant standards partners (Singapore Standards Council and IT Standards Committee); other allied supply-chain partner-groups included in this effort are, IT vendors, banks, and legal firms.  

MPA is actively encouraging key members of Singapore’s maritime community, especially those that have participated in Smart Nation initiatives, to participate in the standards setting process. This paves the way for the eventual adoption of this standard and speeds up the achievement of interoperability among bunkering participants from both the public and private sectors. 

MT: Bunkering seems to have remained mired in paper; what are the digitalisation challenges for this sector?

Previous digitalisation attempts have focused on interposing shared IT platforms between transacting parties. These initiatives also try to set standards (implicitly) by creating shared IT platforms. (i.e. because users of these platforms have to comply with their data/document standards.)

However, these platforms typically require transacting (pairs of) parties to be committed on the same platform – a form of consensus that is difficult to achieve. 

This is because the bunkering and shipping sectors operate in a decentralised dynamic and decentralised market that crosses multiple established business-industrial sectors, each with their own business traditions and processes, types of IT systems, and regulations. 

Add on the fact that a lot of bunkering is being carried out successfully without digital documents; this makes the power of status quo very difficult to overcome. Just how much more business is there to be gained through further digitalisation? Efficiency and risk arguments, while valid, tend to be much less compelling to businesses than those for revenue enhancement.

MT: Which parties are able to access electronic documentation after a bunkering operation? How is access decided and what is the purpose of each party having access to the data?

IT platforms that store documents (even momentarily) on behalf of multiple parties must implement data-access policies to maintain business confidentiality.

This standard, however, being a document-specification effort, does not envision, nor does it require, shared storage.  As such the issue of data-access policies does not arise as documents can be sent directly between businesses using a platform or simpler methods, e.g. email or whatsapp, or API calls.

Members of the Digital Bunkering Document Standard standardisation projectWG on Electronic doc process for bunkering 26 Oct 2021 1

WG on Electronic doc process for bunkering 26 Oct 2021 2

Other interviews conducted by Manifold Times for coverage of SIBCON 2022 are as follows:

Related: SIBCON 2022 Interview: MFMs relevant for custody transfer of future liquid-based marine fuels, confirms Endress+Hauser
Related: SIBCON 2022 Interview: Singapore Bunkering TC Chairman shares republic’s direction on future marine fuels
Related: SIBCON 2022 Interview: Clyde & Co discusses handling of bunker fuel quality disputes, alt fuels contracts

 

Photo credit: Singapore Technical Committee for Bunkering
Published: 3 October, 2022

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Legal

Singapore: Bunker Partner succeeds in High Court bid to wind up Victory Shipping

Estonia-based marine fuels and commodities trading company Bunker Partner filed a winding up application against Victory Shipping on 13 April.

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Singapore: Estonian firm Bunker Partner files bid to wind up of Victory Shipping

The High Court of Singapore granted a winding up order against Victory Shipping Pte Ltd on 12 June, according to a Thursday (25 June) notice on the Government Gazette. 

The winding up application was filed by Estonia-based marine fuels and commodities trading company Bunker Partner on 13 April.

Victory Shipping, with representations in Malaysia, India and the U.A.E., operates dry bulk shipping contracts around the globe with voyages performed mainly in the Middle East and Southeast Asia.

The winding up order also included the following name and address of a liquidator:

Mr Farooq Ahmad Mann
C/o M/s Mann & Associates PAC
3 Shenton Way #03-06C
Shenton House
Singapore 068805

The notice noted that all creditors of the Victory Shipping should file their proof of debt with the liquidator who will be administering all the affairs of the company. 

Manifold Times previously reported a virtual hearing between Victory Shipping and Integr8 Fuels Pte Ltd, organised by the High Court of the Republic of Singapore.

The event was to set aside a statutory demand served on 3 October 2025 by Integr8 Fuels lawyers under Section 125(2)(c) and Section 10 of the Insolvency, Restructuring and Dissolution Act 2018 (IRDA) against Victory Shipping, according to court documents obtained by the bunkering publication.

Integr8 Fuels provides bunker trading and brokerage services to shipowners and operators that enables them to optimise fuel procurement.

Related: Singapore: Court to hear Bunker Partner’s winding-up bid against Victory Shipping on 12 June
Related: Singapore: Estonian firm Bunker Partner files bid to wind up Victory Shipping
Related: Singapore: Victory Shipping aiming to set aside bankruptcy court process from Integr8 Fuels

 

Photo credit: Manifold Times
Published: 26 June, 2026

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FuelEU

Hafnia Pools surpasses 170 vessels, achieves FuelEU Maritime compliance

In announcing the company’s Q1 2026 financial results, it said five vessels joined Hafnia Pools during the first quarter of the year, bringing the total number of Pool Partners to 24 across segments.
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Hafnia Pools surpasses 170 vessels, achieves FuelEU Maritime compliance

Singapore-headquartered tanker operator Hafnia on Wednesday (24 June) the company closed Q1 2026 with more than 170 vessels trading across its pool platform.

In announcing the company’s Q1 2026 financial results, it said five vessels joined Hafnia Pools during the first quarter of the year, bringing the total number of Pool Partners to 24 across segments.

Since November 2025, vessels entering the Pools have had an average age of six years or younger, further strengthening the competitiveness and earnings capability of the platform. 

This continued inflow of modern tonnage supports Hafnia’s focus on maintaining an efficient and attractive fleet profile, while enhancing the long-term value proposition for Pool Partners.

In Hafnia’s MR Pool, six owners now each have three or more vessels committed.

During Q1 2026, Hafnia Pools successfully met the EU’s FuelEU Maritime requirements for 2025. Across the Pool, 108 vessels collectively exceeded the emissions limits; however, by working together under a “pooling” system, this was balanced out. By using cleaner vessels, biofuel, and purchased emissions credits, the Pools avoided penalties and achieved meaningful cost savings for partners.

This outcome reflects strong collaboration across Hafnia’s commercial, operational, and compliance teams, as well as constructive engagement with all Document of Compliance holders as regulations such as FuelEU come into full force.

In June 2026, Hafnia Pools further strengthened Partner engagement and alignment through its bi-annual Pool Board meeting, taking place during Posidonia in Greece.

Peter Kolding, VP Chartering Regional Trades & Pool Management, said: “As we move further into 2026, our focus remains on delivering consistent commercial results, strengthening the value proposition for all Pool Partners, and continuing to build on the close cooperation between our Chartering and Operations teams that underpins the success of the Hafnia Pools.

“I am encouraged to see that our commercial performance and efforts in staying close to our partners are paying off as we enjoy growing support from many of those same partners. It indicates that we are on the right path and energizes us to continue doing everything we can to improve even further.”

 

Photo credit: Hafnia
Published: 26 June, 2026

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Digital platform

VPS debuts VeriSphere Webshop, enhancing digital access to marine fuel solutions

Key addition is the MySurveys application, designed to support bunker quantity survey processes by providing detailed insights into quantity losses, density variations, and bunkering performance.
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VPS debuts VeriSphere Webshop, enhancing digital access to marine fuel solutions

Marine fuels testing company VPS on Thursday (25 June) announced the launch of its VeriSphere Webshop, a major step forward in the evolution of its digital platform and customer experience.

The new webshop provides customers with direct, self-service access to a growing portfolio of VPS products and services, including digital applications, Application Programming Interfaces (APIs) and sampling equipment; enabling faster, more flexible engagement with VPS’s global offerings.

The VeriSphere Webshop has been designed to simplify how shipowners, operators, and stakeholders across the marine fuel value chain, access critical tools and data. Through a streamlined interface, users can:

  • Browse and subscribe to VPS digital applications
  • Purchase services and products directly online
  • Discover complementary solutions tailored to their operational needs from VPS as well as its ecosystem partners

Alongside the launch of the webshop module, VPS continues to expand the capabilities of its VeriSphere platform, introducing new applications and enhancing existing solutions to deliver deeper operational insights.

A key addition is the MySurveys application, designed to support bunker quantity survey processes by providing detailed insights into quantity losses, density variations, and bunkering performance. This capability represents an important step in the digitalisation of traditionally manual survey processes, enabling greater transparency and benchmarking across operations.

Further enhancements across the platform reinforce VPS’s commitment to delivering actionable, data-driven insights across fuel quality, equipment performance, and operational risk management.

With continuous improvements to applications such as PortStats and the broader VeriSphere suite, VPS is enabling customers to move beyond static reporting toward pro-active operational intelligence.

By combining its extensive global fuel quality database with advanced analytics and digital delivery, VPS aims to empowere its customers to identify risks early, optimise fuel performance, simplify compliance and improve operational efficiency.

Dr. Malcolm Cooper, CEO at VPS, said: “The launch of the VeriSphere Webshop marks an important milestone in our digital journey.

“We are making it easier than ever for our customers to access the data, insights, and tools they need, when they need them. As the maritime industry continues to evolve, our focus is on delivering scalable, digital solutions that drive better decision-making, improve operational performance of vessels, prevent downtime and support the transition towards more sustainable maritime operations.”

VPS added that the VeriSphere Platform will continue to evolve with an expanding portfolio of products, services, and ecosystem partnerships.

Related: VPS unveils digital bunker fuel and emissions platform Verisphere

 

Photo credit: VPS
Published: 26 June, 2026

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