South Korean biodiesel producer Dansuk Industrial exported this month 3,000t of sustainable marine fuel (SMF) to the Netherlands, marking the company’s first export to Europe.
30 June, 2022
Dansuk produces 50,000 t/yr of SMF at its Pyeongtaek and Siheung factories in Gyeonggi province from a blend of fatty acid pitch and acid oil pitch by-products of biodiesel made from used cooking oil and animal fats, bio-heavy oil and raw materials palm oil mill effluent, spent bleaching earth oil and cashew nut shell liquid.
The International Sustainability and Carbon Certification-compliant fuel qualifies for renewable energy units in the Netherlands and is eligible for double counting towards European renewable mandates. The company is also considering supplying Singapore and its domestic market, although South Korea currently has no incentives or mandates for its use.
But Dansuk anticipates global demand of 10mn t/yr of eco-friendly marine fuel by 2050 as shipowners meet decarbonisation targets and the International Maritime Organisation’s limits on sulphur in fuel oil used by vessels operating outside designated emissions control areas (ECAs) to 0.5pc. Fuel oil used by ships operating inside ECAs is limited to 0.1pc sulphur.
Dansuk currently has no plans to boost output despite its bullish outlook and will instead gauge demand before making any capacity additions. It already has 450,000 t/yr of renewable diesel and sustainable aviation capacity due on line in 2024-25 to supply domestic and international markets.
By Ryan Ang
Photo credit and source: Argus Media
Published: 1 July, 2022
Several VLSFOs delivered in this region are still observed with presence of chemical contaminants, indicating elevated potassium content and acid number.
According to the notice, the filing was made on 26 February and all creditors should file their proof of debt with the liquidators who are administering the process.
At the time of delivery, the newbuilding will still be subject to a full review of documentation requirements pertaining to the applied rules.
Trafigura Pte Ltd and Freepoint Commodities Singapore Pte Ltd reportedly received a combined 2,500 mt of VLSFO from Universal Terminal, reports Reuters.
Suppliers, regulators, shipowners and engine manufacturers have to agree on alternatives over traditional carbon-based bunker fuels in order to progress.
Zero-emission fuels and vessels will need to start being deployed at scale over the next decade to achieve full decarbonization of the shipping sector by 2050.
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PetroSeraya appoints YTL PowerSeraya veteran See Yoong Hwee to drive its fuel tank leasing operations; together with Rafe Liam as Commercial Manager, they will spearhead the company’s initiatives.
‘This biofuel bunker delivery represents a new chapter for Eng Hua as we are now moving with the times towards the era of decarbonisation,’ Mike Sin, Director at Eng Hua, tells bunkering publication Manifold Times.
MPA has also asked Glencore to improve its internal procedures to ensure that prompt action is taken in future when it becomes aware of, or reasonably suspects, any irregularity in fuel quality, it states.
Dynamic Asset Investments Limited and Goldsland Holdings Co Ltd helped Vermont UM Bunkering maintain a “Cash Float” of about SGD 100,000 to facilitate “buyback” bunker transactions at Singapore port.
Senior Cargo Officer gained SGD 48,800 worth of commission from “buyback” bunker transactions and illegally obtained SGD 410,712.257 by cheating Vermont, a Singapore court heard on Thursday (21 July).
