Business

Vertex and Bunker One enter into 10-year Marine Fuel agreement

Bunker One will have the exclusive rights to purchase 100% of Vertex’s Marrero, Louisiana refinery’s marine fuel production until December 2029.

Published

7 years ago

January 14, 2020

Admin

Houston-based Vertex Energy, Inc. on Monday (13 January) announced a 10-year marine fuel Joint Supply and Marketing Agreement (JSMA) with global physical supply network Bunker One USA, Inc. (BO).

The terms of the 10-year definitive agreement are as follows:

Vertex has agreed to a supply and offtake agreement under which Bunker One, through its US subsidiary, Bunker One USA, Inc. (BO), will have the exclusive right to purchase 100% of Vertex’s Marrero, Louisiana refinery’s marine fuel production through December 2029. This arrangement provides BO customers a consistent supply of high-quality marine fuel, on-demand, while providing Vertex with surety of off-take for the entirety of its marine fuel supply during the next decade. This agreement includes provisions under which Vertex may supply BO proportionally all current and future (incremental) marine fuel production from both the Marrero refinery and the TCEP facility located in Baytown, Texas. Under the agreement, Vertex is also assuming oversight responsibilities for re-supply and delivery operations. In addition to the current and future Vertex production, this agreement allows for the long term development of additional strategic third-party supply from other sources of production managed by Vertex.

BO has agreed to purchase Vertex’s marine fuel production at fair market transfer prices. Under the agreement, BO will purchase marine fuel from Vertex at a negotiated price correlated to Platts-based benchmarks.

BO has agreed to provide Vertex the right to extend a net profit-sharing agreement to any port in North America that BO determines to sell marine fuel through in the future. Under the agreement, in the event that Vertex exercises those rights and the agreement is extended to such new port, Vertex will be entitled to net profits on each barrel of marine fuel sold by BO in such future North America ports.

BO has purchased $5 million of Vertex’s securities. The investment by Bunker One has been made by the purchase of securities held by existing equity holders.

“Our strategic alliance with Bunker One represents a tremendous growth opportunity for Vertex, one that has the potential to transform our business in the years ahead. Over the last three years, under a prior agreement, our companies have worked closely to develop the foundation for this mutually beneficial long-term opportunity,” said Vertex Chairman and CEO Benjamin P. Cowart.

“This relationship not only ensures a long-term sales and marketing channel for 100% of our current marine fuel production at fair market prices, it also provides us surety of off-take for incremental marine fuel production in future years, while allowing us to participate as a minority partner in Bunker One’s entire North American marine fuel bunkering business.”

“BO has further memorialized its long-term commitment to Vertex through a non-dilutive equity investment in our Company, aligning their interests with those of both our management team and our shareholders. We look forward to providing additional details on our collective strategy on our year-end results conference call in early 2020,” he added.

“We are very excited about our strategic alliance with Vertex. During the last several years, Sara Shipman Myers, Managing Director of Bunker One (USA), and her team have worked very closely with Vertex, and the commitment from our Group to Vertex reflects the results of their hard work,” said Bunker One Global Head of Physical Carlos Gilberto Torres Padilla.

“We believe this relationship strengthens our ability to meet our customer demands for IMO compliant fuels for years to come serving as an excellent foundation for our business in the United States going forward.”

“We have a determined focus on expanding our Global Physical Supply network and are constantly looking for new growth opportunities. The United States is and will always be one of our core markets and we continue to see growth potential in the coming years,” said Bunker One Global Director Peter Zachariassen.

“The evolution of our relationship with Vertex is a great example of our expansion strategy in action. The importance of the deep local knowledge, together with a perfect partnership, is the key to success – local expertise strengthens our position as a global player, which is exactly what we have promised our customers.”

Photo credit: Bunker Holding
Published: 14 January, 2020

Bunker Fuel

Singapore: Bunker fuel sales down by 3.8% on year in July 2026

4.73 million mt of various marine fuel grades were delivered at the world’s largest bunkering port in July, up from 4.92 million mt recorded during the similar month in 2025.

Published

9 hours ago

August 17, 2026

Admin

Singapore: Bunker fuel sales down by 3.8% on year in July 2026

Sales of marine fuel at Singapore port fell by 3.8% on year in July 2026, according to data from the Maritime and Port Authority of Singapore (MPA).

In total, 4.73 million metric tonnes (mt) (exact 4,731,900 mt) of various marine fuel grades were delivered at the world’s largest bunkering port in July, up from 4.92 million mt (4,918,000 mt) recorded during the similar month in 2025.

Deliveries of marine fuel oil, low sulphur fuel oil, ultra low sulphur fuel oil, marine gas oil and marine diesel oil in July (against on year) recorded respectively 1.95 million mt (zero from 1.95 million mt), 2.33 million mt (-2.1% from 2.38 million mt), 1,600 mt (+100% from zero), 700 mt (-82% from 3,900 mt) and zero (from zero).

Singapore: Bunker fuel sales down by 3.8% on year in July 2026

Bio-blended variants of marine fuel oil, low sulphur fuel oil, ultra low sulphur fuel oil, marine gas oil and marine diesel oil in July, (against on year) recorded respectively 8,200 mt (-83.7% from 50,300 mt), 29,900 mt (-62.9% from 80,500 mt), zero (from zero), zero (from zero) and zero (from zero). B100 biofuel bunkers, introduced in February last year, recorded 1,400 mt (-46.2% from 2,600 mt).

LNG and methanol sales were 58,700 mt (+41.4% from 41,500 mt) and zero (from zero) respectively. There were no recorded sales of ammonia for the month and so far since 2025.

Photo credit: Maritime and Port Authority of Singapore
Published: 17 August, 2026

Alternative Fuels

Ammonia, methanol bunkering workshops to be held at 13th Singapore Safety@Sea Week

Three workshops on ammonia bunkering, methanol bunkering, and crew safety awareness are part of MPA’s Safety@Sea Week, which will be held from 17 to 21 August.

Published

9 hours ago

August 17, 2026

Admin

The Maritime and Port Authority of Singapore (MPA), together with industry partners, on Monday (17 August) launched several new initiatives to enhance maritime safety.

Announced at the opening of the 13th Singapore Safety@Sea Week, these initiatives will support shared learning, strengthen operational capabilities, and prepare the industry for the safe adoption of new technologies.

Organised by MPA from 17 to 21 August, this year’s Safety@Sea Week is themed “All Hands on Deck – Safety First!”. About 1,500 participants from across the maritime community are expected to take part in 18 events organised by MPA and its partners.

These include the Safety@Sea Symposium, featuring seven speakers across two panel sessions, and three workshops on ammonia bunkering, methanol bunkering, and crew safety awareness.

Speaking at the opening, Mr Murali Pillai, Senior Minister of State for Law and Transport, highlighted three priorities for strengthening maritime safety: harnessing technology responsibly, preparing early for emerging risks, and keeping people at the centre of safety. He also underscored the importance of strong partnerships across the maritime community in building a strong safety culture.

At the opening of Safety@Sea Week, the National Maritime Safety at Sea Council and the Singapore Shipping Association launched the Singapore Near Miss Reporting System to encourage the reporting and sharing of lessons from near miss incidents.

Modelled on the internationally recognised Confidential Human Factors Incident Reporting Programme (CHIRP), the system provides sea space users with a confidential online channel to report near misses. CHIRP will independently receive the submissions and provide anonymised information to the Council, which will distil key safety lessons for sharing with the wider maritime community.

Note: More information about the event can be found here.

Photo credit: Peter Nguyen on Unsplash
Published: 17 August, 2026

Bunker Fuel

Alkagesta highlights key insights on European choke point pressures in August

Update covers dual supply crisis currently shaping global bunker markets — a stalled Strait of Hormuz peace process and Rhine water levels at a 140-year record low — and the implications for Singapore.

Published

9 hours ago

August 17, 2026

Admin

Malta-based global commodity trading house Alkagesta recently shared latest market insight examining the dual supply crisis gripping global energy markets as diplomatic efforts to reopen the Strait of Hormuz stall and Rhine water levels fall to record lows, creating what the company describes as a “state of emergency” for European inland fuel distribution.

In an article published on Alkagesta Market Insights on 11 August, the company’s trading and market intelligence teams outlined how the convergence of two simultaneous logistical crises is tightening prompt fuel availability across Singapore, Northwest Europe, and the Mediterranean:

Strait of Hormuz transits fell to a near-one-month low of 13 ships on August 9 following an attack on an ADNOC-linked tanker, as both the US and Iran demand war reparations before any reopening agreement can be reached. Simultaneously, Rhine water levels at the Kaub chokepoint fell to 16 cm on August 10 — the lowest since records began in 1880 — with forecasts pointing to a further drop to just 4 cm by August 14, effectively halting barge traffic and trapping fuel oil stocks at the ARA hub.

The supply picture across both key hubs has deteriorated sharply. In Singapore, Middle Eastern fuel oil imports nearly tripled week-over-week to 328,878 mt by July 29 — the highest volume since March — providing some relief as onshore commercial heavy distillate stocks rose to a five-week high of 19.58 million barrels by August 5. However, July bunker fuel sales are estimated to have fallen 3.7% month-over-month to 4.44 million mt, with elevated premiums redirecting prompt demand toward alternative ports including Zhoushan and Port Klang.

In Europe, the VLSFO market remains acutely undersupplied as refiners continue to prioritize high-margin diesel over low-sulfur blending components, while the Rhine crisis has forced barges to operate at just 15–20% of normal capacity — with freight rates from Rotterdam to Karlsruhe rising more than 400% in two months.

Alkagesta’s strategic outlook points to a potential total breakdown in Rhine-linked inland distribution by mid-August, a VLSFO Hi-5 spread likely to remain above $200/mt through Q3, and a global crude market that analysts warn requires an additional 2.1 million b/d for 18 months to rebuild depleted inventories.

Note: The full article can be read here.

Photo credit: Alkagesta
Published: 17 August, 2026