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ElbOil at 15: Marine fuel trader reflects on expansion and energy transition in bunkering

Founder and CEO Harro Booth says the company’s development mirrors the transformation of the bunker sector itself.

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ElbOil at 15: Marine fuel trader reflects on expansion and energy transition in bunkering

Marine fuel trader ElbOil on Tuesday (10 March) announced that the company is marking its 15th anniversary this year, reflecting on a period of steady international expansion and growing involvement in the maritime energy transition.

Founded in Hamburg in March 2011, the company started as a specialist broker and trader for marine fuels. Over the past decade and a half, ElbOil has expanded into a global network with offices in Europe, Asia and the Middle East, serving shipowners and operators along major shipping routes.

Key milestones include the creation of ElbOil Trading AG in Zug, Switzerland (2014) and the opening of offices in London (2016), Singapore (2020), Dubai (2021) and Shanghai (2024). In parallel, the company launched 4seee in 2019, a data-driven platform designed to analyse bunker markets and improve price forecasting.

Today the group works with more than 200 suppliers worldwide and has supplied over 15,000 vessels across global bunkering hubs and handles around 2 million tonnes of marine fuels per year. Founder and CEO Harro Booth said the company’s development mirrors the transformation of the bunker sector itself.

“When we started ElbOil in 2011, the bunker market was far more predictable than it is today. Over the last fifteen years, geopolitics, regulation and market volatility have fundamentally changed the environment in which shipping companies operate.”

Those changes have accelerated in recent years as shipowners face pressure from decarbonisation policies and new regulatory frameworks such as the EU emissions trading system for maritime transport.

“Decarbonisation is clearly shaping the future of marine fuels, but the transition is complex. Shipowners are navigating questions around fuel availability, infrastructure and cost, and traders have to support that process with practical solutions.”

ElbOil has responded by expanding into biofuels trading, digital market tools and sustainability-linked initiatives. Since 2020 the company has been certified under both REDcert and ISCC Plus, internationally recognised sustainability certification schemes for biofuels and biomass supply chains. The company has also invested in projects related to alternative fuels, carbon management and ecosystem restoration, reflecting a broader shift in the industry toward lower-emission energy sources.

Despite the increasing role of technology and data analytics, Booth believes that bunker trading remains a relationship-driven business.

“Digital tools can improve transparency and timing, but shipping is still a people industry. Experience, trust and judgement remain essential when markets become volatile or disputes arise.” 

Looking ahead, ElbOil expects the coming decade to bring further structural change to the maritime fuel market, particularly as alternative fuels gradually gain scale.

“Shipping has always adapted to new energy realities,” Booth said. “The challenge for the industry now is to manage that transition without losing efficiency or reliability in global trade.”

Related: Interview: ElbOil highlights growth, sustainability, and the human touch in marine fuels
Related: ElbOil Group adds green methanol to marine fuels product portfolio with latest China deal
Related: ElbOil celebrates sixth year of operations in Singapore with new local office

 

Photo credit: ElbOil
Published: 12 March, 2026

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LNG Bunkering

Singapore: FueLNG achieves 800th LNG bunkering operation milestone

Bunker tanker “FUELNG Venosa” delivered LNG marine fuel to bulk carrier “MV Ubuntu Humanity” at Eastern Bunkering A Anchorage (AEBA) on 11 July.

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Singapore: FueLNG completes 800th LNG bunkering operation

Singapore’s licensed LNG bunker supplier FueLNG on Friday (17 July) announced the successful completion of its 800th LNG bunkering operation in the republic.

The company said bunker tanker FUELNG Venosa delivered LNG marine fuel to bulk carrier MV Ubuntu Humanity at Eastern Bunkering A Anchorage (AEBA) on 11 July. 

“This achievement is more than just a number,” FueLNG said.

“It reflects the trust our customers place in us, the dedication of our operations team, the professionalism of our marine partners, and our unwavering commitment to safe, efficient, and reliable bunker deliveries.” 

Manifold Times previously reported FueLNG completing its 500th LNG ship-to-ship (STS) bunkering operation.

Related: Singapore: FueLNG achieves milestone of 500th STS LNG bunkering operation

 

Photo credit: FueLNG
Published: 20 July, 2026

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Alternative Fuels

Repsol and Maersk wrap up first bioethanol bunkering operation in Port of Barcelona

Repsol supplied 2,800 mt of bioethanol to a Maersk container vessel, “Antonia Maersk”, in the first bunkering operation of its kind in the Port of Barcelona and one of the first in the Mediterranean.

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Repsol and Maersk wrap up first bioethanol bunkering operation in Port of Barcelona

Spanish energy company Repsol and shipping giant A.P. Moller – Maersk (Maersk) completed the first bioethanol bunkering operation in the Port of Barcelona, according to the port authority on Wednesday (15 July). 

Repsol successfully supplied 2,800 metric tonnes (mt) of bioethanol to a Maersk container vessel, Antonia Maersk, in the first bunkering operation of its kind in the Port of Barcelona and one of the first in the Mediterranean. 

The operation demonstrates growing demand for alcohol-based marine fuels, as well as the readiness of the infrastructure, logistics, and operational capabilities required to support their deployment at commercial scale. 

Juan Abascal, Repsol’s Executive Managing Director of Industrial Transformation and Circular Economy, said: “With this supply, we reaffirm our commitment to the decarbonization of maritime transport through solutions that are available today and ready to scale in the future. 

“At Repsol, we provide shipping companies with a reliable supply chain and a multi-energy strategy that combines different renewable fuels to support the sector in a safe, competitive, and sustainable transition.”

The supply took place in the Port of Barcelona under fully commercial conditions, bringing together key players across the maritime value chain and demonstrating how collaboration can accelerate the adoption of lower-emission solutions in shipping. 

The delivery was carried out by Bahía Candela, Repsol’s newest bunker vessel, operated by Mureloil and designed to supply both conventional marine fuels and next-generation energy products. 

During the bunkering operation, Bahía Candela operated using its battery system, enabling the fuel transfer to be completed with zero local emissions, and further reducing the environmental footprint of the operation. 

Prior to the bunkering, Maersk tested ethanol on one of its smaller vessels, the 1,800 TEU feeder vessel Laura Maersk, which in 2023 became the world’s first dual-fuel container vessel able to operate on methanol. Today, Maersk has 23 dual-fuel container vessels designed to operate on methanol; however, the company continues to explore ethanol as an alternative fuel for its methanol-enabled vessels. Laura Maersk has performed sailings on 100% ethanol as well as blends of ethanol and methanol. 

Emma Mazhari, Vice President Energy Markets at Maersk, said: “Following the successful ethanol trials conducted on Laura Maersk, this latest bunkering of Antonia Maersk marks another important step in our efforts to explore scalable low-emission fuel solutions. 

“As the first ethanol trial on one of our large dual-fuel vessels, with a capacity of 16,000 TEU, it allows us to deepen our understanding of ethanol’s operational potential at scale. 

“Building on the experience we have gained with methanol, we are working closely with port authorities and industry partners to develop the infrastructure and procedures needed to support ethanol bunkering. Ethanol is one of several pathways we are pursuing to diversify our future fuel portfolio and help accelerate the development of new, viable liquid marine fuel markets.”

 

Photo credit: Port of Barcelona
Published: 20 July, 2026

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Alternative Fuels

Port of Santos hosts Brazil’s first bioethanol bunkering of deep-sea containership

Copersucar, CMA CGM Group, AGEO Terminais, Santos Brasil and Bunker One completed a bioethanol bunkering operation for “CMA CGM IRON”, the first 13,000 TEU tri-fuel certified engine containership.

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Port of Santos hosts Brazil's first bioethanol bunkering of deep-sea containership

Sugar and bioethanol trading company Copersucar on Monday (13 July) said the company and its partners successfully completed a bioethanol bunkering operation for the CMA CGM IRON, the first 13,000 TEU tri-fuel certified engine containership, at the Port of Santos on 12 July.

The partners are CMA CGM Group, AGEO Terminais, the largest liquid bulk storage operator at the Port of Santos; Santos Brasil, the biggest container terminal in Brazil; and Bunker Holding subsidiary Bunker One. 

Copersucar said the operation represents a major milestone for the decarbonisation of maritime transport, positions Brazil among the countries capable of carrying out this type of bunkering operation, and reinforces bioethanol as a readily available solution to reduce greenhouse gas emissions from the shipping sector.

The bioethanol supplied by Copersucar benefits from a certified supply chain. Sugarcane expansion takes place mainly on degraded pastureland, while Brazil’s RenovaBio program establishes stringent sustainability and zero-deforestation requirements.

The bunkering required logistical and operational coordination among multiple stakeholders across the value chain, involving the transport of bioethanol to the Port of Santos, its storage in dedicated infrastructure, and its transfer to the vessel via a specialized barge.

“The operation provides practical evidence that bioethanol offers the attributes needed to accelerate the decarbonisation of maritime transport,” the company said. 

Beyond this first demonstration, the Port of Santos and Santos Brasil container terminal are positioning themselves and Brazil as a future low-carbon marine fuels hub for South America. As the continent’s largest port and a major gateway for global trade, Santos has the potential to connect Brazil’s renewable energy resources with international shipping demand. 

The CMA CGM IRON, delivered in 2025, is the Group’s first vessel in a series of twelve 13,000 TEU containerships, equipped with the world’s first tri-fuel engine certified to operate on bioethanol: Everllence-B&W G95ME-C10.5-LGIM.

“Together with our partners, we have shown that innovation can move from the laboratory to real maritime operations. The certification of our first tri-fuel vessel is a major technological milestone for CMA CGM. It opens the way for the broader use of lower-carbon fuels and gives us new options to accelerate the decarbonisation of our shipping activities” said Christine Cabau Woehrel, Executive Vice President Assets & Operations, CMA CGM.

“This operation demonstrates Copersucar’s ability to connect production, logistics and markets to enable bioenergy solutions at scale. More than a pioneering bunkering operation, we are creating the conditions for bioethanol to become a competitive component of the maritime energy mix, further strengthening Brazil’s leadership in the transition to a low-carbon economy,” said Tomás Manzano, CEO of Copersucar.

“This operation can be considered a milestone in the global maritime industry’s energy transition, as the sector begins to adapt to this new model. Today, Around 70 vessels of the global fleet are capable of operating on methanol and, consequently, with bioethanol. Over the next few years, however, an additional 400 vessels are expected to be delivered from shipyards ready to sail using a non-fossil fuel,” said Flavio Ribeiro, CEO of Bunker One.

 

Photo credit: Copersucar
Published: 14 July, 2026

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