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Singapore: BLOC announces bunkering consortium for blockchain

Lloyd’s Register, Precious Shipping, Bostomar, BIMCO, IBIA, and GoodFuels form group.

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Blockchain Labs for Open Collaboration (BLOC) today (Thursday) announced, through its subsidiary Maritime Blockchain Labs (MBL), the establishment of a consortium to address traceability and transparency in the marine fuel supply chain bringing together industry actors Lloyd’s Register, Precious Shipping, Bostomar, BIMCO, International Bunker Industry Association (IBIA), and GoodFuels.

Following extensive research, MBL has identified the bunker industry, with its multiple, complex transactions as an ideal use case where blockchain technology can increase transparency, create better compliance and stronger governance.

The consortium will evaluate how blockchain technologies could help to provide an efficient, tamper-resistant and auditable chain of custody on quality and quantity recording activities, together with a reputation system of the compliance of fuels prior to purchase, benefitting both buyers and regulatory bodies.
Such characteristics help to provide greater confidence in the fuel being purchased, ultimately resulting in reduced safety risk and creating a more trustworthy framework for accurately monitoring emissions from shipping such as sulphur, and carbon.

The project represents the initial stage of the Lloyd’s Register Foundation-funded MBL initiative, the first true industry collaboration for the creation of blockchain technology in the maritime space.

Deanna MacDonald, CEO and co-founder of BLOC, said:

“MBL takes an industry-led approach – meaning that the solutions will be identified, designed, and tested by the industry itself, with MBL facilitating governance and developing the technology to ensure these solutions are relevant and used. A consortium approach is essential due to the need to cross regulatory boundaries and work within different organisational bodies and systems.”

“Too often with blockchain, and digital initiatives in shipping in general, we see a top-down approach where new technology is pushed on the industry. However, this means that complex human and governance elements are ignored, limiting the eventual adoption and usefulness of the technology.”

Khalid Hashim, Managing Director at Precious Shipping commented:

“As an off-taker of marine fuels, it’s vital for us to ensure that the fuel we use is compliant – particularly when we think about the market post-2020, and the need to ensure the quality of blended products coming in to meet the 0.5% Sulphur limit. Blockchain is ideally placed to create the reliable chain of custody we need to do this.”

Grant Hunter, Head of Contracts & Clauses at BIMCO added:

“We are delighted to be involved with a consortium that could play an important role in realising the transformative potential of blockchain within shipping, beginning with a timely and relevant first use case in the bunker industry. As the global leaders in the development of standard contracts and clauses used in shipping, we feel we have an essential role to play in investigating the use of new technologies that may help evolve the way contracts are used. Bunker purchase contracts are one part of a complex chain of activities in the bunker industry. Blockchain “Smart Contracts” based on harmonised terms and conditions like the BIMCO Bunker Terms 2018 could be a stepping stone for the industry to achieve greater transparency and efficiency.”

Each member of the consortium represents a different actor in the marine fuels value chain or wider shipping industry, and contributes their expertise and insight accordingly as the consortium builds and validates this blockchain use case. The members and their roles are:

Lloyd’s Register FOBAS, Lloyd’s Register’s fuel testing services team. LR FOBAS will share knowledge and information about the fuel supply and quality testing process as well as provide bunker quality test data for the building and piloting phase. LR FOBAS will provide an environment for piloting and input to dispute resolution.

BIMCO, the world’s largest international shipping association, with around 2,000 members in more than 120 countries. BIMCO is an advisor on contractual aspects of this demonstrator, having recently published a standard set of terms and conditions for the purchase of marine fuels which it hopes will be widely adopted by bunker traders and suppliers.

Precious Shipping, is a pure dry cargo ship-owner operating in the Handysize, Supramax and Ultramax sectors of the tramp freight market. Precious Shipping is an off-taker of marine fuel oils in the port of Singapore, and as such plays a key role in the demonstration of the fuels quality traceability and accountability programme as a buyer.

Bostomar Shipping, operates dry bulk ships worldwide and also facilitates ship and structured commodity finance services primarily to the dry bulk sector, with a chartered fleet of 4-5 vessels. Bostomar will participate in the demonstration as a buyer and off-taker of marine fuel oils in Singapore.

IBIA, the International Bunker Industry Association (IBIA), who represents the global bunker industry. IBIA will be an advisor to BLOC and the affiliated industry consortia for the demonstration of the fuels quality traceability/accountability program.

GoodFuels, the world’s leading supplier of commercial and sustainable marine biofuels for the shipping industry. With a market presence in the ARA, it will play a key role in the demonstration of the fuels quality traceability/accountability program.

Photo credit: BLOC
Published: 26 July, 2018

 

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Alternative Fuels

Auramarine: Marine fuel flexibility will be key to shipping’s energy transition

Operators who adapt best will be the ones who built in the flexibility to their marine fuel strategy to respond as conditions change, says CEO John Bergman.

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Finland-based fuel supply systems provider Auramarine on Wednesday (2 September) said it believes shipping’s energy transition is entering a phase where flexibility, not fuel choice, will determine which operators adapt successfully. 

With fuel price volatility, inconsistent alternative availability and tightening environmental regulation at different speeds across regions, Auramarine argued that the right approach to fuel supply infrastructure is now as strategically important as the fuel itself.

“The industry has spent years asking which fuel will win,” said John Bergman, CEO, Auramarine. 

“That may be the wrong question. No operator today can predict with confidence what will be available, compliant or commercially viable in five years. The operators who adapt best will be the ones who built in the flexibility to their fuel strategy to respond as conditions change.”

Auramarine’s own fuel split technology, first delivered in 2019 and now installed on around 20 vessels, reflects this thinking in practice. The retrofit system adds a fuel booster module onboard, allowing a ship to run different fuels through the same engine without the extended changeover procedures dual-fuel systems typically require.

This lets operators switch to MGO or biofuel, for example, to meet an ECA requirement, support maintenance schedules, or respond to fuel pricing shifts, without taking a vessel out of service. Delivered in sections through existing doors and hatches, it can be retrofitted to vessels already in operation.

Bergman sees this need for adaptability sharpening in sectors under the most operational and regulatory pressure. 

“Cruise and ferry operators feel this earliest and most acutely,” he said. 

“These vessels constantly move between regulatory zones and environmentally sensitive waters, so the ability to switch fuel supply without disrupting a schedule is an operational necessity. What’s notable is how many operators in this space still don’t know infrastructure like this exists, despite how directly it addresses what they’re already dealing with.”

Reliable flexibility requires a tailored approach, not just adding equipment. “The best results come from scoping flexibility to an owner’s actual fuel strategy, not adding complexity for its own sake,” Bergman added. 

Automated fuel changeover systems are designed to keep multi-fuel operations straightforward for crews, while a structured maintenance approach ensures inspection, testing and servicing can be carried out safely throughout the vessel’s lifecycle. This is where Auramarine’s lifecycle services play a central role, supporting operators well beyond initial installation with the ongoing servicing, spares and technical support needed to keep flexible fuel systems performing reliably for the long term, whatever the fuel landscape looks like in years to come.

“Over the next few years, operators who succeed will be the ones who stopped waiting for certainty and started building optionality instead,” Bergman added

“In a transition this uncertain, adaptability matters more than any single fuel bet. That’s the conversation we want the industry to have.”

 

Photo credit: Auramarine
Published: 7 September, 2026

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Mass Flowmeter

TFG Marine advances global MFM rollout with two US Gulf bunker barges

“Buffalo B414” and “Buffalo B304”, were recently fitted with the equipment, with both supply barges receiving ISO 22192 certification for their newly installed MFMs last month.

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TFG Marine advances global MFM rollout with two US Gulf bunker barges

Global marine fuel supply and procurement firm TFG Marine on Wednesday (2 September) said it continued to expand mass flow meter (MFM) technology across its US Gulf Coast bunker fleet.

The company said two more vessels, Buffalo B414 and Buffalo B304, were recently fitted with the equipment.

“Both supply barges received ISO 22192 certification for their newly installed MFMs last month, giving customers greater confidence in bunker quantity measurement while supporting a more accurate, transparent and efficient delivery process,” TFG Marine said in a social media post. 

“This marks the latest step in TFG Marine’s ongoing investment in technology and best practice across its global bunkering operations, and forms part of a broader push by our North America team to help drive progress across the region’s bunkering industry.”

Last year, TFG Marine announced it reached a key milestone in its global digitalisation programme with the installation of an ISO 22192-compliant MFM on the Buffalo 404, a barge on time charter from American bunker barge company Buffalo Marine Service Inc.

This was the first ISO-certified MFM-equipped bunkering barge operating in the US Gulf.

The installation was part of TFG Marine’s wider strategy to equip close to 90% of its global bunkering fleet with MFMs by 2026 as a commitment towards improving data integrity, streamlining operations and strengthening trust in marine fuel transactions.

Related: TFG Marine installs first ISO-certified mass flow meter on US Gulf bunkering barge

 

Photo credit: TFG Marine
Published: 4 September, 2026

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FuelEU

Ahti Climate and DNV connect verified emissions data to FuelEU pooling platform

New integration connects Ahti’s FuelEU pooling platform with DNV’s verification services, Veracity, helping customers reduce manual administration and streamline compliance.

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Ahti Climate brings DNV-verified emissions data into FuelEU pooling platform

Ahti Climate on Monday (31 August) announced a new integration with Veracity, DNV’s independent industry cloud platform, enabling shipowners and operators to seamlessly transfer DNV-verified emissions data into Ahti’s FuelEU pooling platform. 

The integration simplifies emissions reporting by connecting operational data verification with FuelEU compliance workflows, helping customers reduce manual administration, improve data quality and confidently meet regulatory requirements.

For customers such as shipping company Bore Ltd, the integration streamlines the flow of emissions data between verification and compliance systems. Raw fuel consumption data is automatically converted into the required OVD format and submitted for DNV verification through Veracity. Once verified, the emissions figures are securely shared with Ahti’s FuelEU pooling platform, creating a more efficient workflow with less manual administration and greater confidence in reported emissions data.

“Being on one of the surplus generators of the pool, trust in the data is everything for us – we need to know the numbers we’re selling hold up to scrutiny. With verified emissions data flowing straight from Veracity by DNV into the Ahti Pooling Platform, we no longer have to manually cross-check figures before every transaction. It gives us confidence that what we’re bringing to the pool is accurate, and that our partners can rely on it too,” said Marcus Strand ICT Manager at Bore Ltd. 

The integration enables customers to:

  • Reduce manual data entry and administrative workload
  • Improve data quality and reduce the risk of reporting errors
  • Securely exchange verified emissions data across systems and stakeholders
  • Increase transparency and confidence in compliance reporting
  • Connect commercial, operational and compliance workflows
  • Reduce turnaround times for reporting and voyage settlements

“Every partnership we build comes back to the same question: does this make compliance easier for shipowners? With Veracity by DNV, the answer is clearly yes – verified data, connected systems, and one less thing for our customers to worry about,” said Risto-Juhani Kariranta, CEO of Ahti Climate. 

With connectivity to the majority of the world fleet, Veracity’s trusted partner ecosystem, combined with Ahti’s expertise in FuelEU pooling, gives shipowners a more connected approach to emissions verification and compliance. By enabling verified data to flow securely between systems, the partnership helps customers reduce complexity and get greater value from their data and access a growing network of digital solutions.

 

Photo credit: Ahti Climate
Published: 1 September, 2026

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