The time for biofuels is now

Uni-Tankers has the access and knowledge to take advantage of the measurable decarbonization benefits of biofuels

Following a successful biofuel trial in 2023, Uni-Tankers can now offer customers the option of powering their cargo’s voyage with biofuels that emit less greenhouse gases (GHG) on a life-cycle basis compared to traditional fossil fuels.

The test on M/T Alsia Swan showed that using a 30% biofuel blend (B30) resulted in up to 30% less CO2 emissions compared to a standard fossil fuel-based LSMGO (Low Sulphur Marine Gas Oil).

Known in the industry as a ‘drop-in’ fuel, biofuels can be mixed with similar versions of fossil fuels for use in existing engines. This means they are an ideal transitional fuel for short-term gains and, combined with energy efficiency measures, they will be vital for keeping vessels compliant with International Maritime Organization (IMO) and European Union (EU) decarbonization regulations.

“As environmental legislation and regulations become increasingly tight, we expect the demand for alternative fuels will increase. Thanks to our sister company Bunker Holding, our customers can choose biofuel blends to power their voyages with UniTankers,”

Kristian Larsen

Technical Director, Uni-Tankers

Testing leads to understanding

In 2023, Uni-Tankers and KPI OceanConnect — a subsidiary of Bunker Holding — successfully completed a two-day trial of the latter’s B30 biofuel blend, providing a thorough picture of this particular fuel’s performance throughout a voyage. A thirdparty team from FORCE Technology compared the results of the B30 blend with a standard LSMGO under the same engine loads (25%, 50%, 75%, and 100% power). In addition to reduced CO2 emissions of 30%, their results also showed a 42% reduction in particulate matter and an 18% reduction in carbon monoxide emissions.
Due to the central role biofuels will play in our decarbonization journey, we will continue testing to better understand alternative fuels and their impact (e.g. how they should be handled, how they affect engines, how much they reduce lifecycle GHG emissions).

EU legislation will boost alternative fuel transition

Due to the immediate useability of biofuels, they will play a vital short-term role in decarbonizing Uni-Tankers’ fleet. And soon,they won’t be an optional extra.

With the European Union’s FuelEU Maritime regulation set to come into effect from January 1, 2025, all vessels over 5,000 GT (gross tonnage) that call into European ports will be required to reduce the GHG intensity of the maritime fuels they have on board by 2%, which will rise to 6% by 2030 and intensify further towards 80% in 2050.

With global biofuel production not expected to match growing demand from various industries over the coming decades, Uni Tankers will continue to investigate and adopt other alternative fuel options to achieve its decarbonization targets.

 

Want to know more? Please read our 2022/23 ESG Report

The opening of Uni-Tankers' Spain office elevates our global maritime influence and strengthens client connections.

At Uni-Tankers we are thrilled to announce the grand opening of our new office in Spain in March this year, a significant milestone that underlines our confidence in the tanker market and emphasizes our unwavering commitment to fortifying relationships with our esteemed customers and partners, particularly in the Spanish/West Med region.

The strategic decision to establish a presence in Spain stems from our recognition of the region as a vital hub for maritime trade and innovation. This new office not only allows us to tap into emerging opportunities but also positions us to better serve our existing clients in the area.

Per Ekmann, CEO of Uni-Tankers, expressed his enthusiasm about this strategic move, stating:

“This expansion reflects our dedication to the continued growth of Uni-Tankers and our aspiration to play a pivotal role in the evolving dynamics of the tanker industry. The Spanish/West Med region holds immense potential, and we are eager to contribute to its development.”

Mads Jessen to lead seasoned team in Marbella venture.
Heading our new office in Spain is Mads Jessen, a seasoned professional with a wealth of experience in the tanker business. Mads brings a deep understanding of the industry, and under his leadership, we are confident in our ability to provide unparalleled service to our clients.

Mads Jessen comments:

After more than 40 years in the tanker industry, both as a broker and as an owner’s representative, I am pleased to have this opportunity to set up a Spanish commercial base for Uni-Tankers here in Marbella. I am equally pleased to bring with me Oscar Fabra and José Miguel Samaniego, to handle chartering and operations from the new office, and we are confident that this will be a successful venture.
We look forward to working with our new colleagues in Denmark, Turkey, France and the USA.

 

For any business cooperation or inquiries, please feel free to reach out to our dedicated team:
Managing Director, Mads Jessen: +34 690 997 004  // mje@uni-tankers.com 
Chartering, Oscar Fabra: +34 629 719 749 // osc@uni-tankers.com
Operations, José Miguel: +34 689 980 321 // jsa@uni-tankers.com

Uni-Tankers Spain
Calle Gladiolo 25, Urb. Paraiso-Barronal,
29688 Estepona, Malaga

We look forward to a fruitful journey in Spain, building lasting partnerships and contributing to the success of the maritime industry in the region.

Your experts in liquid cargo
Uni-Tankers is a leading tanker shipping company in the small and intermediate segments. The fleet is one of the youngest in the company’s core markets and consists of approximately 40 owned and chartered modern and flexible product and chemical tankers.

Uni-Tankers has offices in Denmark, Turkey, France, and the USA and was founded in 1995 as a subsidiary of the Danish, family-owned United Shipping & Trading Company which operates a portfolio within oil & energy, shipping, door-to-door logistics, risk management, car activities, IT, sustainable energy, environment & recycling – and is represented in 40 countries with more than 4,300 employees.

Energy saving tech vital to 2030 decarbonization goals

Uni-Tankers’ ongoing roll-out of fuel efficiency technologies across our owned fleet has reduced our fuel consumption per vessel

Uni-Tankers’ commitment to decarbonization is having a clear and measurable impact, with fuel-saving technologies contributing to a more efficient fleet. In 2022/23, Uni-Tankers’ emissions from fuel consumption increased by 6%, but this is mainly due to a 9% increase in the number of vessels in operation compared to 2021/22. With fuel-saving technologies now installed on 11 of 16 owned vessels (up from 7 in 2021-22), we achieved fuel savings of 8-15% per vessel for those that have the technology installed. (See page 3 of Uni-Tankers’ 2022/23 ESG Report)

Initiatives duing the previous period

As of the conclusion of the 2022/23 fiscal year, Uni-Tankers has made significant strides in enhancing the sustainability of its fleet. Notably, fuel-saving technologies have been successfully implemented on 11 out of 16 owned vessels, a notable increase from the 7 vessels in the preceding fiscal year (2021/22). This proactive effort has resulted in substantial fuel savings ranging from 8% to 15%.

In a bid to explore innovative approaches, a noteworthy initiative in 2023 involved the application of a high-performance nano-modified epoxy coating to the M/T Fenno Swan. Although this application is still undergoing testing, preliminary results are promising, indicating potential fuel savings through friction reduction.

Furthermore, Uni-Tankers, in collaboration with the Bunker Holding Group, conducted B30 biofuel testing on its vessels during 2023. This initiative aligns with a broader commitment to environmental responsibility. Concurrently, plans have been set in motion for the Group’s headquarters in Denmark to transition from on-site gas heating to district heating by 2025, contributing to a reduction in emissions from onshore activities.

The results from the B30 biofuel testing revealed a substantial reduction of particle emissions by up to 42% compared to traditional LSMGO fuel. While no significant changes in NOx emissions were observed, there was a noteworthy 18% decrease in carbon monoxide emissions. These initiatives collectively underscore Uni-Tankers’ dedication to advancing sustainable practices within the maritime industry as we acknowledge that decarbonization is a key element in our formula for a better future.

Overall, this positively contributed to Uni-Tankers reducing its Energy Efficiency Operational Indicator (EEOI) rating, which is the International Maritime Organization’s (IMO) method for measuring the efficiency of vessels. The EEOI measures how efficiently vessels carry cargo in CO2 emitted per quantity carried and distance sailed. From 2021/22 to 2022/23, as an average across Uni-Tankers’ operated fleet (both owned and ‘time charter’ – or leased – vessels), EEOI improved by 5%, decreasing from 40.7 to 38.6.

The increased roll-out of fuel-saving technologies is a good example of Uni-Tankers’ approach to ESG. To identify the best solutions, Uni-Tankers tests different technologies and initiatives. When a solution is identified that has a significant impact – such as the previously mentioned fuel-saving technologies – they are systematically adopted across all suitable vessels in our owned fleet. For the five remaining owned vessels where fuel-saving technologies haven’t been installed, it has been concluded such technology would not have a meaningful impact due to the vessels’ restricted operating profiles.

“Decarbonization is the most urgent matter in the shipping industry and at the top of our strategic agenda. Our constant focus on new technologies will play an important part in our efforts to meet industry targets,”

Lisa Clement Jensen

Head of Strategy, Uni-Tankers

Decarbonization is a key element in our formula for a better future

Decarbonization is a top priority in the shipping industry, with the IMO having revised its greenhouse gas (GHG) strategy in July 2o23 to target net-zero GHG emissions by or around 2050.

At Uni-Tankers, we fully acknowledge our responsibility to contribute to this global transition. Our fleet’s overall fuel consumption (on both owned and time-chartered vessels) accounts for 96% of Uni-Tankers’ GHG emissions (approx. 362,000 MT CO2E). That is why our immediate decarbonization efforts are focused on our fleet.

 

Want to know more? Please read our 2022/23 ESG Report and follow our journey navigating the seas of environmental responsibility.

Middelfart, Denmark – 18 December 2023

Uni-Tankers, as commercial managers of the chemical/oil products tankers M/T Swan Atlantic, report that earlier this morning the vessel was hit on its port side by an unidentified object whilst transiting the southern part of the Red Sea on passage to Reunion Island. As a result of the impact the M/T Swan Atlantic suffered from a small fire which has been brought under control by the crew. All seafarers onboard the vessel are reported to be safe.

Managers are in close contact with the relevant authorities and military assistance is now in the area providing all necessary support. M/T Swan Atlantic which is carrying a cargo of vegetable oils has meanwhile proceeded its voyage south.

Uni-Tankers remain in close contact with the vessel’s owner and technical managers offering them all possible support with the safety of all seafarers onboard at all times remaining the highest priority.

Press contact:
Cor Radings
MTI Network
M +31 626 316 854
Email: cor.radings@mtinetwork.com

Decarbonization is at the top our strategic agenda and we aim to contribute to a climate-resilient development of the shipping industry

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 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.”

We are happy to announce a major expansion of our fleet, adding four new T/C vessels and the purchase of M/T Sedat Basak.

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.

 

 

“We are excited to announce this further significant expansion of our stainless-steel fleet and the renewal of our owned fleet,” says CEO Per Ekmann. “With these new vessels, we will be able to provide even greater service to our clients around the world.”

Per Ekmann

CEO, Uni-Tankers A/S

Chemical and petroleum shipping company Uni-Tankers has navigated stormy waters over the past few years, but with CEO Per Ekmann at the helm, the company is looking forward to smooth sailing.

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

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

On the Day of the Seafarer 2023, Uni-Tankers proudly pays tribute to the remarkable men and women onboard our Swans, who navigate the world’s oceans and contribute significantly to the global maritime industry. 

Seafarers are the heart and soul of the shipping industry. Their dedication, courage, and expertise ensure the smooth and safe transportation of cargo across the oceans.

Our seafarers witness firsthand the beauty and fragility of our oceans, and with this years campaign from IMO #OceansWorthProtecting, we encourage all our seafarers to follow IMO’s initiative:

To all the seafarers, we are asking you to share a picture of the marine environment using the hashtag #OceansWorthProtecting

Be creative, you can share the equipment that is used to protect the environment, any special training you received, and tell us about your role in protecting the marine environment while onboard your ship.

International Maritime Organization (IMO)

Uni-Tankers actively participates in the global movement toward a greener future. As part of “IMPA SAVE – Getting to zero”, we are committed to reducing plastic onboard our vessels and achieving a more sustainable maritime industry.

On the Day of the Seafarer, Uni-Tankers proudly celebrates and appreciates the remarkable men and women who navigate the world’s oceans. Their invaluable contributions deserve our admiration.

Massive turnaround with record result of EAT USD 61m

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:

Uni-Tankers financial highlights
USDm2022/232021/222020/21
Revenue356.0226.3197.4
Earnings after tax61.0-5.1-5.5
Equity123.064.669.7
No. of employees571629630
Return on equity65.1%-7.5%-7.8%
Solvency ratio61.2%32.9%35.5%

 

Key financial figures for Uni-Tankers DKK:

Uni-Tankers financial highlights
DKKm2022/232021/222020/21
Revenue2547,11461,01249,4
Earnings after tax436,5-32,7-35,0
Equity835,0455,8428,7
No. of employees571629630
Return on equity65,1%-7,5%-7,8%
Solvency ratio61,2%32,9%35,5%

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Uni-Tankers becomes sponsor of 'Drømme i sigte'

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.

“Uni-Tankers loves great chemistry and passion! And when we heard about Sissel and Leonora’s dreams, we saw an opportunity to support them on their extraordinary journey while also raising awareness about the increasing focus on saving our oceans, and encourage more women to choose a career in the maritime industry.”

Per Ekmann

CEO, Uni-Tankers A/S