Vitol Bunkers Takes Delivery Of Asia’s First Biofuel Bunker Barge In Singapore

Vitol Bunkers, a leading provider of energy solutions for the maritime industry, has taken delivery of its first biofuel bunker barge, the Marine Future, at Singapore’s port, establishing its position in Asia’s marine biofuels market.

The Marine Future, a specialised IMO type 2 category bunker tanker, has joined the V-Bunkers fleet, allowing the supply of biofuel blends ranging from B24 to B100, depending on customer requirements.

This essential addition to the fleet marks a key milestone since it allows for the supply of bunker fuels with up to 100% bio component (B100), not limited by Singapore’s conventional oil tanker regulations, which restrict bio component blends to 25%.

The Marine Future, built in China, has impressive dimensions, measuring 102.6 meters long and capable of transporting around 7,000 metric tonnes of biofuel. The Head of Vitol Asia, Mike Muller, expressed enthusiasm about prospects, saying that the vessel may be converted to provide methanol if needed.

This latest development demonstrates Vitol Bunkers’ dedication to maritime innovation and sustainability. The company’s broader operations encompass global bunkering markets, supplying bunker fuel to ship and fleet owners worldwide.

The marine industry’s increased need to reduce emissions is reflected in Singapore’s expanding biofuel sector. According to figures from Singapore’s Maritime and Port Authority (MPA), biofuel sales increased significantly to 520,000 metric tonnes in 2023, up from 140,000 metric tonnes the previous year.

S&P Global Commodity Insights analysts have pointed out that although biofuels provide a promising opportunity for decarbonisation, obstacles, including prohibitive pricing, stand in the way of broad implementation. Despite this, biofuels are essential in the industry’s move to cleaner energy sources.

Looking ahead, S&P Global analysts predict that alternative fuels will play an increasingly important role, with biofuels accounting for 9% of bunker fuel blend by 2050. Methanol, another alternative fuel, is predicted to account for 30% of the blend in the same timeframe.

The “Marine Future” demonstrates Vitol Bunkers’ strategic position in the expanding environment of marine biofuels, advancing the industry’s sustainability goal while satisfying consumer demands.

Reference: Vitol

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