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Trafigura forms bunkering JV with Frontline and Golden Ocean

JV will act as exclusive purchaser of marine fuels for Trafigura, Frontline, Golden Ocean and certain entities.

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Commodities trading house Trafigura Group on Tuesday (13 August) entered into a non-binding term sheet agreement with shipping firms Frontline Ltd. and Golden Ocean Group Limited to establish a leading global supplier of marine fuels.

Frontline and Golden Ocean will respectively acquire 15% and 10% interests in the joint venture (JV) company, while Trafigura will contribute its existing physical bunkering activities to the new entity.

Subject to agreement on final terms, the JV is expected to commence operations in the third quarter of 2019, and will act as the exclusive purchaser of marine fuels for Trafigura, Frontline and Golden Ocean, as well as certain entities affiliated with Hemen Holding Ltd, Frontline and Golden Ocean’s largest shareholder.

“Today’s announcement represents a further progression in the development of Trafigura’s response to the challenges and opportunities the impending IMO 2020 regulation will present,” commented Jeremy Weir, Trafigura’s Executive Chairman and CEO.

“We look forward to providing an essential service to our clients and working closely with Frontline and Golden Ocean to grow this venture into one of the world’s leading suppliers of marine fuels in the coming years.”

Kenneth Dam, Trafigura’s Co-Head of Bunkering added: “Over the past 24 months, Trafigura has been growing its physical bunkering business worldwide.”

“We believe that marine fuel market disruptions will be brought on by the implementation of IMO 2020 regulations and that the JV’s increased base volumes and greater access to both infrastructure and credit will provide increasingly competitive bunkering supply services to our customers.

“We are confident in our ability to supply quality products at competitive prices to the fleets controlled by the JV partners as well as to third party shipowners and operators.”

Robert Hvide Macleod, CEO of Frontline Management AS and Birgitte Ringstad Vartdal, CEO of Golden Ocean Management AS jointly commented: “It is anticipated that IMO 2020 will create logistical marine fuel supply issues for shipowners globally.”

“In addition to presenting a compelling economic opportunity, our participation in the JV will ensure our ability to source and acquire marine fuels at competitive prices on a continuous basis.

“This transaction represents yet another instance where we have been able to leverage our relationship with other entities of Hemen Holding Ltd to create significant economies of scale and a real competitive advantage.

“We look forward to working with Trafigura, our JV partner, to create one of the world’s leading suppliers of marine fuels.”

Published: 14 August, 2019
 

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Winding up

Singapore: Liquidators of Nan Ho Maritime, Nan Xin Maritime issue notices of dividend

Nan Ho Maritime’s second interim dividend and Nan Xin Maritime’s second and final dividend are payable from 4 September, according to Government Gazette notices.

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Notices of dividend for Nan Ho Maritime Pte Ltd and Nan Xin Maritime Pte Ltd, which are currently in creditors’ voluntary liquidation, were published on the Government Gazette on Friday (4 September). 

The following are the details of the notice for Nan Ho Maritime:

Name of Company : Nan Ho Maritime (Pte.) Ltd. (In Creditors’ Voluntary Liquidation)
Unique Entity No. / Registration No. : 200814315C
Address of Former Registered Office : 21 Bukit Batok Crescent, #22-70 WCEGA Tower, Singapore 658065
Amount per centum : 2.305 per centum of all admitted ordinary claims
First and Final or otherwise : Second interim dividend
When Payable : 4 September 2026 onwards
Where Payable : c/o AAG Corporate Advisory Pte. Ltd., 11 Collyer Quay, #07-02 The Arcade, Singapore 049317

The following are the details of the notice for Nan Xin Maritime:

Name of Company : Nan Xin Maritime (Pte.) Ltd. (In Creditors’ Voluntary Liquidation)
Unique Entity No. / Registration No. : 201701966W
Address of Former Registered Office : 21 Bukit Batok Crescent, #22-70 WCEGA Tower, Singapore 658065
Amount per centum : 3.980 per centum of all admitted ordinary claims
First and Final or otherwise : Second and final dividend
When Payable : 4th day of September 2026 onwards
Where Payable : c/o AAG Corporate Advisory Pte. Ltd., 11 Collyer Quay, #07-02 The Arcade, Singapore 049317

 

Photo credit: Benjamin Child
Published: 7 September, 2026

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LNG Bunkering

Singapore-based EPS takes delivery of three LNG dual-fuel bulk carriers

Three vessels are the third, fourth and fifth in the company’s series of 14 Newcastlemaxes being built at the yard, and were delivered five months ahead of their contracted delivery dates.

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Singapore-based Eastern Pacific Shipping (EPS) on Friday (4 September) announced the naming and delivery of three new LNG dual-fuel Newcastlemax bulk carriers from China’s Qingdao Beihai Shipbuilding. 

Cyril Ducau, CEO of EPS, said the vessels were named Mount Victoria, Mount Yulong and Mount Wuyi

The three vessels are the third, fourth and fifth in the company’s series of 14 Newcastlemaxes being built at the yard, and were delivered five months ahead of their contracted delivery dates.

“A big thank you to CSSC Group and Qingdao Beihai Shipbuilding, working alongside our EPS team, for the tremendous collaboration and commitment behind this achievement,” Ducau said in a social media post.  

 

Photo credit: Eastern Pacific Shipping
Published: 7 September, 2026

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Port & Regulatory

ISWG-GHG 22: IMO working group aims to present NZF text at MEPC 85

The Chair expressed his observation of a genuine willingness within the Group to make concrete further progress at the next ISWG-GHG meeting and work towards presenting text to MEPC 85.

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The Intersessional Working Group on Reduction of Greenhouse Gas (GHG) Emissions from Ships (ISWG-GHG 22) met for its 22nd meeting from 1 to 4 September 2026, chaired by Mr. Sveinung Oftedal (Norway), according to the International Maritime Organization on Friday (4 September). 

According to a meeting summary by IMO, the meeting had a high level of participation, with nearly 1200 registered participants, in person and online.

During the meeting participants considered the following agenda items:

Consideration of proposals, including documents submitted to MEPC 84 and 85, previous sessions of ISWG-GHG, as well as documents submitted to ISWG-GHG 22, on how to address concerns with the draft amendments to MARPOL Annex VI on the Net-Zero Framework, in line with the 2023 IMO GHG Strategy

Following constructive discussions, the Chair expressed his observation of a genuine willingness within the Group to make concrete further progress at the next ISWG-GHG meeting and work towards presenting text to MEPC 85 that adequately addresses the noted progress made in the consideration of proposals on how to address concerns raised regarding the draft amendments to MARPOL Annex VI on the mid-term measure.

The Group invited interested delegations to continue to consult intersessionally to address remaining concerns with the draft amendments to MARPOL Annex VI, in line with the 2023 IMO GHG Strategy, taking into account views expressed at the Group’s session, with a view to submitting concrete proposals reflecting enhanced convergence allowing timely adoption and effective implementation.

Further consideration of the draft guidelines supporting the uniform and effective implementation of IMO’s mid-term measures.

The Group held a preliminary exchange of views on this agenda item, although time became a limiting factor and the Group and agreed to defer the consideration of all documents submitted to this session under this agenda item to ISWG-GHG 23 (23-27 November 2026).

Further consideration of the development of the IMO Life Cycle GHG Assessment (LCA) framework.

Due to time constraints, the Group was not able to consider the agenda item related to the IMO Life Cycle GHG Assessment (LCA) framework. The Group deferred the consideration of those documents to ISWG-GHG 23, in conjunction with the report of the fourth meeting of the GESAMP-LCA Working Group expected to be submitted to MEPC 85.

Next steps

The next meeting of the Intersessional Working Group on Reduction of Greenhouse Gas (GHG) Emissions from Ships (ISWG-GHG 23) is scheduled for 23 to 27 November 2026, ahead of MEPC 85 (30 November to 3 December).

The second extraordinary session of MEPC (adjourned last October) is scheduled to resume on 4 December, subject to discussions at MEPC 85.

 

Photo credit: International Maritime Organization
Published: 7 September, 2026

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