04 Jun probunkers vision is to be the premier global physical bunker supplier for LNG
A very interesting interview was given to nafsgreen.gr by Alexander Prokopakis, CEO probunkers, regarding LNG as a marine fuel.
The interview of Mr. Prokopakis has as follows:
1. As the expansion of LNG as a marine fuel is rapid into shipping, probunkers is turning into a world-class investment opportunity, by building a reliable global-scale LNG bunkering network. Could you pls tell us few words about this investment?
probunkers will contribute to the development of LNG marine infrastructure by providing premier and reliable LNG bunkering services. We aim to be among the early movers who will support the future of Sustainable Shipping and Green Energy. probunkers Holding was established in 2017 in Cyprus. Its headquarters are based in Athens, Greece. The company will have shareholding control over a group of companies operating in the sectors of shipping and energy. The Shipping division will design, build, own and operate a fleet of LNG supply vessels. They will all be single vessel entities owned 100% by probunkers Holding. The Commercial Companies will also be fully owned by the Holding company. The Commercial division will have presence and operate in seven geographical locations across the globe, through local branches; each of them will include operational and crewing departments overseen by three main regional trading offices with sales and customer service departments.
2. Do you believe that with its low sulphur emissions, LNG is an attractive proposition for shipowners and operators responding to the 2020 Sulphur Cap?
Liquefied Natural Gas, known as LNG, provides the best long- term option in the upcoming eco-friendlier era of marine fueling. LNG has significant environmental, financial and safety advantages as a marine fuel compared to other fuel alternatives.
LNG is the most environmental friendly option:
Nox: 85% lower emissions
Sox: Virtually no emissions
PM: Virtually no emissions
CO2: 25% lower emissions
LNG is the most economic option amongst alternative marine fuels. Advance extraction methods and Innovation have led to the discovery of new natural gas reserves that increase the available product in the market. The large supply of natural gas will continue to maintain lower gas prices than conventional fuels and even increase the spread between competitive prices in favor of LNG, especially with the decoupling from oil prices.
Since the introduction of LNG as a marine fuel and the associated LNG bunkering operations, the industry has an exemplary safety track record.
LNG is the only available fuel today that meets and exceeds current and future IMO emissions targets up to 2030 and beyond.
3. Lack of bunkering infrastructure has been one of the key constraints on adoption of LNG as a marine fuel. What are your actions for this matter?
Allow me to clarify that LNG for bunkering is widely available around the world with truck deliveries. The void of an independent LNG Bunker supplier is what we want to cover.
probunkers will contribute to the development of LNG marine infrastructure by providing premier and reliable LNG bunkering services that will support the future of Sustainable Shipping and Green Energy. Currently there are 7 LNG Bunkering vessels trading globally. Our investment alone doubles that fleet and options for customers.
4. What is your vision regarding your role to support the future of Sustainable Shipping and Green Energy?
Our Vision is to be the premier global physical bunker supplier for LNG. As a social responsible company and moving towards the decarbonatization of shipping we offer the best available fuel for the shipping industry. We support all viable initiatives for a greener future for the next generations. Environmental considerations and social responsibility are more valuable than ever. Our company culture has high environmental and social responsibility consciousness.
5. Many voices insist that LNG is the future in shipping. However some others are speaking about bio-fuels. What is your opinion regarding bio fuels as an alternative fuel in shipping?
LNG is one the cleanest burning fossil fuel available. LNG is odorless, colorless, non-corrosive and non-toxic. Therefore, LNG does not pollute land or water resources as much as other fuels of the same origin, for example, diesel. Even though it is less harmful than other fuels in use, LNG is still a fossil fuel.
Over the next decades we will have a different fuel mix than we have today. Bio-fuels like LNG will be part of this mix. The most environmental friendly, widely available and most economic product will be the prevailing fuel of the future.
6. You have recently stated that 2018 will be a landmark year for the expansion of LNG as a key fuel in shipping. Did this happen?
It seems that the past few years and many more ahead are key years for LNG. We leave in a fast ever changing world and we are experiencing many changes. The LNG industry can’t be an exception. Landmark might have been an overstatement but without a doubt 2018 was another key year.
7. Oceanking is very proud to be among the initial shareholders and partners of probunkers. Pls tell us few words about your relationship with Oceanking. Are you proud that this initiative comes from Greece?
Oceanking is one of the 3 founding partners / shareholders of probunkers. All three founding partners are from Greece. We are very proud that once again the Greek entrepreneurism, intuition, shipping vision and experience are coming together to support a bold initiative.
Oceanking is not just a shareholder, is a partner, a huge supporter and believer of probunkers. Oceanking provides technical expertise, knowledge and experience that is beneficial to us and future investors. The founding partners all bring different attributes and know-how that is valuable to the company and the future shareholders. All partners have a great relationship among us. We share the same vision and passion to see probunkers succeed and become the leading LNG global partner to shipping.
8. ABS has signed a pioneering Joint Development Program (JDP) with probunkers. What is the purpose of this program?
The JDP with ABS is about the development of optimized technical characteristics for a series of LNG bunker vessels. ABS, a leading global provider of classification and technical advisory services to the marine and offshore industries, is committed to setting standards for safety and excellence in design and construction. Focused on safe and practical application of advanced technologies and digital solutions, ABS is working with us to develop the technical specification of our LNGBVs along with accurate and cost-effective compliance, optimized performance and operational efficiency. ABS is the leading Classification Society at the LNG Carriers segment with vast experience and knowledge.
9. Looking ahead what is your forecast for 2050 as far as alternative fuels in shipping are concerned?
With certainty in the future we will have a different fuel mix than today. We believe in a Carbon free future and shipping can’t be an exception.
The shipping industry is under increasing pressure to act and reduce emissions. All around the world, air pollution is causing serious health problems and premature deaths, so local air pollution will be subject to tougher regulations over the coming years. The world’s future fleet will have to rely on a broader range of fuels, propulsion solutions and energy efficiency measures. All alternative fuel options are accompanied by benefits and challenges.
10. Pls give us a full company profile of probunkers
probunker is an innovative multimillion USD global-scale project which offers the opportunity to invest in two fundamental and dynamic industries; Shipping and Energy.
Our Vision is: To be the premier global physical bunker supplier for LNG.
Our Mission is: To provide a clean and environmental friendly bunkering solution for the shipping industry through our superior service.
Our Goals & Objectives are around our Customers, Employees, Shareholders and the Society
probunkers will have a three-tier role, as Physical supplier, LNG Trader/Seller and Barge owner and operator. Our three-fold business model includes investment, trading and finance elements. The multi-layer model involves operations, LNG buying and selling, logistics and marketing.