Bunker Holding Group, the world’s largest supplier and trader of marine fuels, on Friday (18 February) said it has entered into a strategic global collaboration agreement with producer and supplier of renewable fuels Renewable Energy Group, Inc. (REG) to further develop the U.S. and EU marine markets for sustainable bio-based diesel.
Partnering REG’s expertise in bio-based diesel with Bunker Holding’s global reach will allow the companies to play a critical role in transitioning the shipping industry to new and more sustainable energy sources. This collaboration agreement is initially focused on opportunities in North America and Europe, where trials of B20 and B30 are being run in high-traffic regions of both continents.
For REG, this agreement continues its efforts to expand product offerings with further reach into the approximately 70 billion gallon, or 230 million metric tons, global marine market and is a clear signal of the company’s mission to enable a cleaner world and reduce greenhouse gas emissions. REG biodiesel is the clean fuel option for many sectors, including on-road transportation, marine and rail, and can help companies reach sustainability targets without any major equipment modifications or technology investments.
“At Renewable Energy Group we see clearly the opportunity for biodiesel to be a sustainable fuel option of choice for customers in the clean energy transition. Partnering with Bunker Holding will accelerate the marine industry adoption of biodiesel to achieve aggressive carbon reduction goals.
“Our renewable fuels and customer service are helping to reduce greenhouse gas emissions today and offer a plug-and-play solution for the current shipping infrastructure. We look forward to further developing our relationship with Bunker Holding and supporting the shipping industry’s decarbonisation movement,” says Bob Kenyon, REG sales and marketing senior vice president.
With this partnership, Bunker Holding takes yet another step forward in continuing its mission of delivering responsible and innovative solutions in all aspects of bunkering.
REG will work closely with Bunker Holding to expand its existing alternative fuel portfolio and offer sustainable fuels on a global scale to create significant value for the industry.
“As conventional fossil fuel continues to power most of the world’s marine fleet, we are thrilled to engage in this collaboration with REG. It not only further strengthens our supply chain of alternative fuel, but also deepens our know-how and insight of biofuels. Engaging in partnerships with actors from value chains outside our normal boundaries is a cornerstone of our decarbonisation strategy. The energy transition in shipping cannot be solved individually, and we acknowledge the importance of working closely together with partners, such as REG, who bring great expertise and compliments our core capabilities within bunkering,” says Christoffer Berg Lassen, CCO of Bunker Holding.
Photo credit: Bunker Holding Group
Published: 21 February, 2022
‘MFMs will continue to have a place within the bunkering sector even when the shipping industry continues to adopt new types of marine fuels, such as LNG, biofuel, methanol, ammonia and hydrogen,’ states spokesman.
Current ISO 8217 bunker fuel standard not comprehensive enough for biofuels; National Mirror Committee working with local players to develop more comprehensive biofuels standard for Singapore, says Capt. Rahul.
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