Bunker Holding and SyntexNRG sign green methanol bunker fuel supply deal
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by Admin
Major marine fuel supplier Bunker Holding and SyntexNRG2 Inc., a renewable fuels and technology development company, on Tuesday (7 May) announced that they have entered into an agreement for the development and production of renewable methanol to supply the fuel at the ports where Bunker Holding has physical operations located around the world.
Maritime participants are intensifying their efforts to prepare for the transition to a low-carbon future in shipping. The Syntex premium methanol will meet even the most rigid of low-carbon emissions standards set by multiple decarbonisation programmes, including the European Union ETS for marine fuels, the FuelEU Maritime Initiative, and IMO’s 2030 and 2050 emission reduction targets.
Carlos G. Torres, Global Head of Methanol and Strategic Partnerships at Bunker Holding A/S, said: “Bunker Holding recognizes methanol as one of the most ready-to-transition future fuels for the industry. This need to secure access to green methanol, considered a top choice for decarbonising the marine industry, forms the basis and essence of the partnership between SyntexNRG and Bunker Holding as shown with this agreement.”
“We pride ourselves on being a solution-driven provider to our clients. Our role in the market has been around aggregating demand from our customers and providing the most cost-effective supply solutions, through our widely experienced global organization.”
“With the transition to low-carbon marine fuels, we see our role evolving to better serve our customers’ needs in the future.”
“One of the key roles that we would play in this low-carbon world, is enabling the entrance of new producers of the new fuels and providing a valuable way to aggregate supply from multiple sources and geographies and marry that supply with our customers’ demand around the world.”
“We view our relationship with SyntexNRG as very valuable and strategic to enable that new and evolving position for us in the industry.”
Tom Waggoner, Managing Director and CEO of Syntex Industries, said:“SyntexNRG has been focused on decarbonisation of the world economy with investments in renewable energy and sustainable fuels.”
“Our renewable methanol project in the U.S. is our first step to assist the decarbonisation of marine fuels in the future.”
“Partnering with Bunker Holding, will allow us to look beyond the US and expand our reach to a global market. According to reports by Clarksons, an estimated 300 ships are already on order as new builds or retrofits to use this new and promising alternative to fossil fuels. This is very exciting and has a lot of potential for both companies.”
Photo credit: Bunker Holding
Published: 8 May 2024
