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Bunker Holding releases first ever ESG report to accelerate sustainability initiatives

Bunker Holding sets target to engage in at least 10 projects by end of 2023 to set up bunkering infrastructure needed to supply low-and zero emission fuels.

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Bunker Holding on Tuesday (13 September) presented its first ESG (environment, social, and governance) report which highlights the company’s commitments, ambitions, and challenges in its work to promote and drive socially and environmentally conscious practices.

Main highlights of the report include Bunker Holding setting a target to establish formal partnerships with project developers and producers with the objective to establish bunkering infrastructure needed to supply low-and zero emission fuels. 

“Our aim is to be formally engaged in at least 10 projects by the end of 2023, with the ambition to bring low- and zero carbon fuels to the maritime industry,” the company said in the report. 

Besides setting tangible objectives and ambitions, Bunker Holding has developed a clear ESG framework to propel and steer future sustainability efforts, which will enable the Group to take firm action in reducing its environmental footprint and work towards driving a positive social impact. 

Striving to accelerate the decarbonisation of the maritime sector, promote gender equality in a predominately male-dominated industry, and advocate for more transparency, are some of Bunker Holding’s key sustainability ambitions.

“We’re immensely proud to now have launched our first ever ESG report. Not only is it the result of dedicated efforts from our entire organisation, but it is also our promise to our stakeholders that we will follow through on our commitments. We really feel we have reached an important milestone. At the same time, we acknowledge that the journey ahead will be a challenging one,” said Keld R. Demant, CEO of Bunker Holding.

Earlier this year, Bunker Holding launched an ambitious five-year strategy, Fueling the Future, with one of the key drivers being moving responsibly together with suppliers and clients. The foundation of the strategy is to lead the Group through the coming years of radical change in the industry, including the transition to more sustainable fuels.

As part of its sustainability strategy, Bunker Holding has established an ESG Council to act as the formal steering body for ESG with the main purpose of aligning efforts and supporting Executive Management with monitoring and driving progress across ESG. In addition, Bunker Holding has recently added strong supporting competencies to its Management Team, for example by hiring a new Head of Green Fuels and a Head of ESG to help steer and influence change across the organization.

Providing leadership to the industry

Although Bunker Holding has already worked with ESG for some time, it has intensified its work with structuring procedures and defining strategically prioritised actions; A process which has taken almost one year, required diligence, and which was initiated with a comprehensive materiality assessment in collaboration with Deloitte. 

The assessment determined 14 key ESG Topics that the company will put enhanced efforts behind. The Topics cover areas such as Diversity, Equality, and Inclusion, Compliance, Corporate Governance, Climate Impacts from Own Activities, and Climate Impacts from Supplied Fuel to name a few. Focusing efforts on topics material to Bunker Holding will enable it to best drive positive change while preventing harmful impacts.

“Over 99% of our global carbon emissions come from the fuel that we sell to our customers. As one of the world’s leading bunker suppliers, we are in a unique position to help not only our clients but the entire industry in the shift to sustainable energy sources. Currently, the required technological solutions, market, and infrastructure are not yet there for widespread adoption, but we are frontrunners, we are investing, and we have geared up for the green transition,” says Keld R. Demant, adding:

“The ambition to help change and guide the industry towards a green transition, however, does not exempt us from keeping a keen focus on our Scope 1 and 2 emissions, and we know change starts with oneself. That is why we are committing ourselves to reporting and staying transparent on our work with ESG going forward.”

Henceforth, Bunker Holding will publish an ESG report annually which will describe how it has progressed on its ESG performance, targets, and ambitions.

Note: Bunker Holding’s ESG Report is available to download here

 

Photo credit: Bunker Holding
Published: 14 September, 2022

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LNG Bunkering

Malaysia: Port of Tanjung Pelepas achieves milestone with first SIMOPS LNG bunkering op

LNG bunker vessel “MT Paolina Cosulich” refuelled LNG dual-fuel container ship “Bangkok Express”, operated by Hapag-Lloyd AG at the port.

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Malaysia: Port of Tanjung Pelepas achieves milestone with first SIMOPS LNG bunkering op

Port of Tanjung Pelepas (PTP) on Sunday (16 February) said it successfully conducted its first Simultaneous Operations (SIMOPS) of liquefied natural gas (LNG) bunkering.

This significant achievement involved the LNG dual-fuel container ship Bangkok Express, operated by Hapag-Lloyd AG, and the LNG bunker vessel MT Paolina Cosulich.

“This milestone underscores PTP's dedication to enhancing our competitive edge in the global market by facilitating clean and efficient maritime operations,” the port said in a social media post.

“We are proud to have partnered with PETCO Trading Labuan Co., Ltd. (PTLCL) and Hapag-Lloyd on this pioneering initiative.”

Manifold Times previously reported the port also achieving its first LNG bunkering operation last year. 

The port completed its first-ever ship-to-containership methanol bunkering operation in November last year. 

Manifold Times previously reported the port achieving its first LNG bunkering operation last year. 

Related: Malaysia: Port of Tanjung Pelepas achieves milestone with first methanol bunkering op
Related: Malaysia: Port of Tanjung Pelepas completes first LNG bunkering operation
Related: Malaysia: Tanjung Pelepas selected to join P41 initiative to achieve green bunkering hub ambition
Related: Port Of Tanjung Pelepas joins G2G decarbonisation scheme between Malaysia and Australia

 

Photo credit: Port of Tanjung Pelepas
Published: 18 February, 2025

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LNG Bunkering

Kunlun Energy wraps up first STS offshore LNG bunkering operation in Hong Kong

Kunlun Energy, a red-chip controlled by PetroChina, said its bunkering vessel refuelled container ship “Zim Haifa Blue Stone” with 2,200 metric tonnes of LNG bunker fuel in a seven-hour operation.

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Kunlun Energy wraps up first STS offshore LNG bunkering op in Hong Kong

Kunlun Energy, a red-chip controlled by PetroChina, on Monday (17 February) said it completed Hong Kong’s first ship-to-ship (STS) offshore liquefied natural gas (LNG) bunkering operation on 14 February. 

Kunlun Energy's 8,300 m3 capacity LNG bunkering vessel refuelled the container ship Zim Haifa Blue Stone with 2,200 metric tonnes (mt) of LNG in a seven-hour operation. 

The bunkering vessel involved in the operation is operated by a Kunlun Energy subsidiary. 

According to a PetroChina official, the receiving vessel Zim Haifa Blue Stone departed from Busan, South Korea, on 3 February and passed through Qingdao, Shanghai, and Ningbo before arriving in Hong Kong on 12 February. 

Its final destination is Istanbul, Turkey. This refuelling operation can meet the ship's fuel needs for the entire journey. 

“The successful implementation of this "ship-to-ship" offshore LNG bunkering operation is another example of Kunlun Energy's efforts to help improve the international shipping hub of the Guangdong-Hong Kong-Macao Greater Bay Area,” Kunlun Energy said. 

“It is expected to attract more green-fuel vessels to pass through Hong Kong, encourage more environmentally friendly companies to conduct business in Hong Kong, accelerate transformation and technological innovation in the shipping industry, and promote the construction of Hong Kong as a green and smart port.”

“This operation holds significant importance for Hong Kong's push toward a green and sustainable shipping industry.”

 

Photo credit: Kunlun Energy
Published: 18 February, 2025

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Biofuel

Wallenius Wilhelmsen successfully completes its first biofuel bunkering trial in Japan

“M/V Tamesis” bunkered 400 metric tonnes of B24 VLSFO blended biofuel, supplied by Mitsubishi Corporation Energy at Port of Yokohama.

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Wallenius Wilhelmsen successfully completes its first biofuel bunkering trial in Japan

Wallenius Wilhelmsen on Monday (17 February) said it has successfully completed its first biofuel bunkering trial at the Port of Yokohama in Japan.

M/V Tamesis bunkered 400 metric tonnes (mt) of B24 VLSFO blended biofuel, supplied by Mitsubishi Corporation Energy. 

This milestone is part of Wallenius Wilhelmsen’s ongoing efforts to reduce its environmental impact and promote sustainability in shipping.

“As part of our commitment to reducing greenhouse gas emissions, we have expanded our locations for biofuel supply. Since 2023, the expansion has included key ports in Belgium, Korea and Singapore,” the company said.

“Expanding to Japan enhances our ability to operate more efficiently and sustainably across our global network.”

Wallenius Wilhelmsen has set ambitious emission reduction targets to reach net-zero by 2040. This includes a 40% absolute reduction of well-to-wake greenhouse gas emissions by 2030 compared to our 2022 baseline, as approved by the Science Based Targets initiative.

Yasuyuki Sakurai, Senior Manager, the Orcelle Accelerator taskforce at Wallenius Wilhelmsen, said: “Achieving these targets require a major shift in energy sources from conventional fuels to low and zero-carbon alternatives. Expanding supply locations and securing sufficient biofuels remain a priority, and we are pleased to have conducted our first B24 VLSFO blended biofuel bunkering trial in Yokohama.”

“While our Reduced Carbon Service customers fully support our mass-balance concept, ensuring sufficient biofuel usage across our entire fleet and trade lanes is key to achieving our long-term sustainability goals.”

Mitsuo Ueda, General Manager of Mitsubishi Corporation Energy, said: “In anticipation of growing demand for biofuel in the marine sector, we have begun storing biofuel at our oil terminal in Onahama (Fukushima Prefecture) and supplying B24 in Tokyo Bay using our barges.:

“We deeply admire Wallenius Wilhelmsen’s leadership in the decarbonisation of the shipping industry and remain committed to playing our part in creating a more sustainable future. We will continue striving to meet industry needs through a stable supply of biofuels and contribute to the realisation of a carbon-neutral society.”

This milestone was achieved through close collaboration between Wallenius Wilhelmsen’s Energy Sourcing team and the Orcelle Accelerator taskforce, which has worked for the past two years to establish biofuel bunkering capabilities in Japan.

 

Photo credit: Wallenius Wilhelmsen
Published: 18 February, 2025

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