Daniel Rose to leave trading and focus on technology ventures. Image Credit: Shipergy

• Shipergy assets to transfer to Propeller Fuels on October 1
• Daniel Rose to leave trading and focus on technology ventures
• Enlarged HSBC UK facility put in place alongside the deal
• Propeller expects volumes to grow by around 50%

Marine fuel supplier and trading firm Propeller Fuels has announced the acquisition of the business of bunker trading company Shipergy.

The assets of Shipergy, including its trading operations, client relationships, and technology, will transfer to Propeller on October 1, 2026, the company said today in an emailed press release.

Financial terms were not disclosed.

The Shipergy brand will remain active within the enlarged group, and all of its current traders will continue to serve their clients under that name, according to the statement.

The team will also continue to procure bunkers for the fleet managed by Signal Group, which launched Shipergy in 2022.

Co-founder Daniel Rose will leave the trading business entirely after a handover period.

The technology products created by the two companies, including Propeller Fuels' BunkerBridge and Shipergy's Energy Beacon, will sit outside the group and be developed separately under his leadership.

"Shipergy attracted interest from a number of potential partners, but the culture at Propeller stood out as the best fit for our people and our clients from the very first conversation," said Rose.

"I will be supporting the integration every step of the way.

"Beyond that, my future is in building independent technology that the maritime sector needs."

Volumes and Finance

Propeller says the enlarged group will grow its volumes by around 50%.

While the release did not put a figure on that, in January Rose told Ship & Bunker that Shipergy was selling 450,000-500,000 mt/year of marine fuels.

In parallel with the deal, HSBC UK has put in place a new, enlarged facility that gives Propeller more than double its present cash requirement, the release said.

Founded in Hartlepool in 2017, Propeller runs physical supply operations from Hull and moved into trading in 2019.

The company has its corporate head office in Dubai and trading offices in London, Athens, and Singapore, and in July it announced a commercial partnership with US-based Proteus Supply and Trading.

The addition of Shipergy opens new locations for the group, including Hong Kong, it said.

"We have built Propeller patiently, from physical supply in Hull to a trading business with global reach, and Shipergy is the natural next step," said Propeller Fuels chief executive Robert Thompson.

"Its traders and its technology fit hand in glove with what we have created, and together we have the scale, the people and the tools to offer our clients something the market has not seen from an independent group of our kind."

From October 1 all purchases will be made in the name of Propeller, while any existing transactions concluded with Shipergy Ltd will be settled and paid in the usual way.