Middelfart, Denmark – 19 September 2023:

KPI OceanConnect supplies bespoke B30 biofuel blend to Uni-Tankers M/T Alsia Swan for successful trials on board the 5,700 DWT chemical tanker

Uni-Tankers, a leading tanker shipping company, and KPI OceanConnect, a leading global marine energy solutions provider, today announced they have completed the successful supply and trial of a bespoke blend of B30 biofuel on Uni-Tankers’ M/T Alsia Swan. The trials are an important step for understanding the emissions performance of biofuel and validating its potential to help cut carbon emissions.

The trial took place in Amsterdam on board Uni-Tankers’ 5,700 DWT chemical tanker M/T Alsia Swan. KPI OceanConnect arranged for the supply of 34,000 litres of bio grade fuel containing a 30% blend of FAME (fatty acid methyl esters). The fuel supply was part of a two-day trial, which saw emissions for the biofuel measured and compared with emissions for LSMGO under the same conditions.

KPI OceanConnect’s local team of traders worked with their Uni-Tankers partners to identify a biofuel to meet their bespoke needs. The team oversaw the blending process to ensure the fuel met precise specifications and was on hand for the delivery to ensure the specially blended product supplied for the M/T Alsia Swan trials was good quality.

Throughout the trial, tests were carried out at four different loads to assess the reliability and performance of the bio-fuel blend. Alongside trials of the B30 biofuel, Uni-Tankers ran identical operations for an LSMGO fuel of equal quality, allowing accurate comparisons of the B30 biofuel performance. Sampling and analysis for the trial was performed by a team from FORCE Technology

In results from the trial, Uni-Tankers saw particulate matter (PM) emissions reduced by as much as 42% when fuel supply was switched from LSMGO fuel to B30. Carbon monoxide (CO) emissions were also reduced by 18%. By using a blend of 30% biofuel and 70% fossil MGO, M/T Alsia Swan can cut lifecycle emissions of CO2 by an equivalent amount. In a future of tightening regulation of greenhouse gas emissions, this will be an important interim step ship owners can take to maintain compliance and support decarbonization.

Lisa Clement Jensen, Head of Strategy at Uni-Tankers, commented: “The need to cut emissions is one of the most urgent matters in the shipping industry and we are very pleased to be working with KPI OceanConnect for the biofuel trials on the M/T Alsia Swan. Decarbonization is at the top our strategic agenda and we aim to contribute to a climate-resilient development of the shipping industry. These trials enable us to assess the potential and viability of biofuels as part of our ongoing decarbonization efforts.“

Jesper Sørensen, Global Head of New Fuels and Carbon Markets, KPI OceanConnect, commented on the project: “We are very pleased to be partnering with the Uni-Tankers team on this project to deliver high-grade biofuel for their vessel in Amsterdam. By sharing our knowledge and providing expert guidance on fuel strategies, including finding the right biofuel blend ratio to meet the specific needs of vessel operators, we aim to build partnerships with our clients that support their long-term success through the energy transition in shipping. For KPI OceanConnect our close partnership with Uni-Tankers is a model for delivering excellence to our clients.”

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The expansion includes the acquisition of the modern ECO vessel M/T Sedat Basak, which will be added to Uni-Tankers’ owned fleet.

Additionally, we have signed a long-term deal for two new-building sister vessels to M/T Sedat Basak with stainless steel tanks which will be delivered in 2024 and 2025.

All 3 vessels are of modern ECO design and are approx. 30 pct more fuel efficient than conventional vessels of the same size

In addition, Uni-Tankers has also signed a contract with a Japanese partner for a long-term deal for two 12,500 dwt stainless-steel newbuildings with delivery in 2025 and 2026.

All four above-mentioned newbuildings are being built according to the highest safety and environmental standards and will comply with IMO Tier 3 NOx and Sox emission requirements.

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Our CEO, Per Ekmann, has been highlighted in the most recent issue of The CEO Magazine Global.

In the article, he discusses Uni-Tankers A/S, his leadership style, growth strategies, the emphasis on Uni-Tankers’ ESG initiatives, and the enhancement of career prospects for women, both onshore and offshore.

Read the full article here.

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LET’S CELEBRATE OUR SEAFARERS ON THE DAY OF THE SEAFARER

An effective turnaround strategy, favourable market conditions, and a streamlined organisation ready to seize each opportunity land record results for the Uni-Tankers Group.

Uni-Tankers, a Danish family-owned tanker shipping company in the intermediate and small tanker segment presents record earnings in its annual report for financial year 2022/23.

The report shows earning after tax of USD 61.0 million, an increase of USD 66.1 million from last year’s result despite constrained availability, higher cost of charter tonnage, and higher interest rates.

An impressive result which would not have been possible without the support and confidence of the owner family, Board of Directors, and not least an outstanding effort on the part of all on- and offshore staff.

“The impressive result of this year is a tribute to our entire organisation and their outstanding performance. I am very proud to have such dedicated staff – both onshore and off – who all in their own way have shown their loyalty and commitment to Uni-Tankers,” says Per Ekmann, CEO of Uni-Tankers, elaborating:

“Uni-Tankers has been on a tremendous journey these past years, growing our strategy, executing on strategic initiatives, and strengthening our organisation. This year, all the foundational work and preparation has aligned perfectly with an upturn market, and we are proud to be on a steady course for the future.”

The owners and Board of Directors of Uni-Tankers have backed the executive management both in executing on the turnaround strategy launched in 2018, which effectively streamlined operational processes and allowed the Group the flexibility to scale according to market conditions, as well as the Group’s new strategy, Stronger Together, launched at the beginning of this financial year.

“I have always had full confidence in Uni-Tankers and Per Ekmann’s ability to turn the company around. Building strategically on the strong core of Uni-Tankers, getting the right people in their right positions, and leveraging the determination and courage to make the necessary decisions in hard times have paid off. I am very proud of this year’s result as a clear example of the business acumen embodied by Uni-Tankers,” says Torben Østergaard-Nielsen, board member and co-owner of Uni-Tankers.

The combination of favourable market conditions, a clear business model with a perfect mix of owned and time-chartered vessels, along with an organisation that has been ready and able to seize each opportunity have allowed the Group to be agile and strengthen its position in the market with divestments of two non-strategic vessels and the addition of one new stainless-steel vessel with delivery in May 2023.

“This year’s impressive result comes from a strong foundation, a clear strategy, and the ability to execute – as well as the courage to take calculated risks. Our business model and strategy have allowed us to do just that, and we are thrilled to see the return this year,” says Klaus Nyborg, chairman of the board of Uni-Tankers.

During the year, Uni-Tankers remained focused on maintaining a cost-competitive operational setup and streamlining processes to improve efficiency.

“We are very proud that we have been able to land a record result of USD 61.0 million after tax – and at the same time reduce our total debt by 70 percent,” says CFO Thomas Thomsen, adding:

“It is a validation of our turnaround strategy and our continuous efforts to streamline our business and seize emerging opportunities.”

ESG is focal to Uni-Tankers

During the financial year, environmental, social, and governance (ESG) has been an area of focus for Uni-Tankers, and the shipping company has invested heavily in preparing for upcoming IMO and EU regulations.

Fuel-saving technologies have been installed on 11 of 16 vessels resulting in fuel savings of 8-15 percent and B30 biofuel blend tests are being conducted in collaboration with sister company Bunker Holding.

Along with carbon reducing initiatives, Uni-Tankers has strengthened its commitment to ensure diversity, equality, and inclusion and fostering strong relations within the company, as well as worked intensely to prepare for upcoming regulations such as the EU emissions trading system (ETS) which comes into effect from 2024.

“For us, shipping is a matter of chemistry – the chemistry between people and the world we live in. As a result, remaining at the forefront of the ESG agenda and staying compliant with all legislations and guidelines are pivotal to us, as we firmly believe in a healthy and sustainable future for the shipping industry,” says Per Ekmann.

A total of 13 owned vessels are now fully compliant with IMO’s Energy Efficiency Existing Ship Index (EEXI), and the remaining three vessels will be compliant later this year. At the end of financial year 2022/23, Uni-Tankers completed a decarbonization deep-dive to prepare for the increasingly stringent demands to reduce greenhouse gas emissions and carbon intensity – and in the coming financial year the Group will set targets and finalize a decarbonization roadmap following the MEPC 80 session later this year. To further track progress, the Group has established a clear ESG governance structure with defined ownership across all initiatives.

Key financial figures for Uni-Tankers USD:

Key financial figures for Uni-Tankers DKK:

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We are proud to announce our collaboration with the adventurous duo, Sissel and Leonora, the two women behind the ‘Drømme i sigte’-project, who are embarking on a remarkable journey around the world to explore the most captivating dive sites, search for sharks, and raise awareness of saving our oceans. This partnership marks Uni-Tankers’s commitment to inspire more women to choose a career in the maritime industry, while also celebrating two individuals who choose to shape their own futures and pursue their dreams.

“It was really important for us to collaborate with someone who takes responsibility for sustainable actions, which they do at Uni-Tankers. We feel safe in their hands.”

Sissel & Leonora, Drømme i sigte.

The initiative, titled ‘Drømme i sigte’ (Dreams in sight), encapsulates the spirit of adventure, freedom, and breaking free from the constraints of everyday routines. Sissel and Leonora embody these values, believing that dreams do not have an expiration date. Their passion for diving and their dedication to preserving the world’s oceans align perfectly with Uni-Tankers’s values and commitment to sustainability.

Watch the video to learn more about our collaboration.

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As a leading player in the maritime business, we are dedicated to empowering women in the industry and promoting gender equality. On International Day for Women in Maritime, observed annually on 18 May, we highlight our commitment to fostering diversity and inclusion.

Uni-Tankers actively encourages women to pursue successful careers in the maritime industry, both as seafarers and in shore-based positions. By providing equal training and career development opportunities, Uni-Tankers ensures that all employees, regardless of gender, can reach their full potential.

Uni-Tankers’ CEO, Per Ekmann, emphasizes the importance of women in the maritime sector, stating, “We strongly believe in the power of diversity and inclusion. Women have the talent, skills, and expertise to excel in this industry. By promoting gender equality, we drive innovation and success.”

International Day for Women in Maritime, hosted by the International Maritime Organization (IMO), serves as a platform to raise awareness about gender equality in the maritime industry. Uni-Tankers joins the IMO in inspiring more women to pursue maritime careers and encourages the industry to embrace diversity and inclusion.

Uni-Tankers proudly supports International Day for Women in Maritime and remains committed to promoting equal opportunities for all within the maritime business.

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The expansion includes the acquisition of one of our time charter vessels, M/T Marex Noa, which will be renamed M/T Jutlandia Swan and added to the company’s own fleet, May 2023.

Additionally, we have signed a new deal with the previous owners of M/T Marex Noa to build two new sister vessels in Japan, M/T Marex Nina which will be delivered in 2024 and M/T Marex Mia in 2025 and both placed on long-term time charter contracts with Uni-Tankers.

In addition to the acquisition above, Uni-Tankers has also signed a contract with a Norwegian partner for a long-term time charter on two J19 vessels built in 2016 and 2017. These vessels will be integrated into our fleet during the summer of 2023 and renamed M/T Swan Atlantic and M/T Swan Pacific.

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Every year on the 8^th of March the world celebrates International Women’s Day. This is a day dedicated to topics such as diversity, equality, and inclusion (DEI). But for us it is also an opportunity to embrace all the women working at Uni-Tankers. We are working dedicated towards equality, which is both on the everyday agenda, and also in our annual ESG report.

In 2019, we signed a charter that obligated us to actively focus on gender equality. This is still a top priority at Uni-Tankers, and we work every day towards this goal. On board Uni-Tankers’ vessels, diversity and inclusion are considered business critical. But also onshore, where we promote and prioritise the DEI agenda.

Our CEO Per Ekmann stated “More and more women are working in the shipping industry onshore, however, we still experience challenges with attracting women offshore. At Uni-Tankers, we want to encourage everyone – regardless of gender – to begin a career within shipping whether it is onshore or offshore”

Today, we celebrate and embrace the women who have chosen a career within shipping and especially here at Uni-Tankers.

Want to learn more about our current work with social issues? Read our latest ESG report from 2021-22 here.

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Since 2020, Uni-Tankers have tested carbon emission reducing biofuels and implemented fuel optimization systems on our owned fleet.

In addition to implementing alternative fuels, energy efficiency devices remain a key lever to reducing our consumption of conventional fossil fuels and thereby minimizing our carbon footprint.

In Uni-Tankers, we are continuously looking for ways to reduce our overall impact on the environment. As a result of these efforts, we have installed fuel-saving technologies on most of our owned fleet resulting in documented fuel savings of 8-15 percent per vessel depending on the system installed.

The systems installed vary from vessel to vessel, as not all engines can benefit from the same technology. Most of the systems installed are so-called adaptive on-top systems that ensure constant optimization between engine and propeller, while others are an upgrade of the control system.

So far, we have installed fuel-saving technologies on 9 of 15 vessels – the first was M/T Endelo Swan in 2020, and the latest our M/T Alsia Swan and M/T Lillo Swan.

Next up are M/T Mona Swan and M/T Tasing Swan, who are scheduled to receive their upgrades in 2023.

Coming initiatives

In 2023, we will also be testing a new special hull coating on M/T Fenno Swan when she drydocks in April. This specialized coating saves fuel through reduced frictional resistance in the water, which in turn means lower fuel consumption.

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