Alternative Fuels
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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1 year agoon
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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
Biofuel
China Shipping & Sinopec Suppliers completes first biofuel bunkering op of passenger ship in Dalian
Firm successfully refuelled passenger ship “Chang Shan Dao” owned by Cosco Shipping Ferry with B24 bio bunker fuel on 29 November at Dalian Cruise Port.

Published
2 days agoon
December 8, 2023By
Admin
China Shipping & Sinopec Suppliers Co., Ltd. on Wednesday (29 November) successfully refuelled passenger ship "Chang Shan Dao" owned by Cosco Shipping Ferry Co., Ltd. with B24 bio bunker fuel at the Dalian Cruise Port.
The occasion marked the first biofuel bunkering operation for passenger ships in China.
The B24 biofuel oil used was blended with 24% biofuel and 76% conventional low-sulphur fuel oil.
Sinopec China Shipping Fuel Supply, which is responsible for the bunkering operation, is a bunker supply firm jointly established by Sinopec Group and COSCO Shipping Group.
According to Li Zhi, Deputy Party Secretary and Deputy General Manager of China Shipping & Sinopec Suppliers Co., Ltd., the biofuel bunkering business is another step in the company's active business of the group's development strategy.
The bunkering operation after the firm completed the first bonded biofuel bunkering operation of a domestic ship on 7 September.
Disclaimer: The above article published by Manifold Times was sourced from China’s domestic market through a local correspondent. While considerable efforts have been taken to verify its accuracy through a professional translator and processed from sources believed to be reliable, no warranty is made regarding the accuracy, completeness and reliability of any information.
Photo credit: China Shipping & Sinopec Suppliers
Published: 8 December, 2023
Alternative Fuels
Singapore, Tianjin to pilot and trial alternative bunker fuels following shipping corridor MoU
Singapore – Tianjin Green and Digital Shipping Corridor will serve as a valuable testbed for both countries to pilot and trial digital solutions, alternative fuels and technologies, amongst others.

Published
2 days agoon
December 8, 2023By
Admin
The Maritime and Port Authority of Singapore (MPA) and the People’s Republic of China’s Tianjin Municipal Transportation Commission on Wednesday (6 December) signed a memorandum of understanding (MoU) to establish the Singapore – Tianjin Green and Digital Shipping Corridor.
Mr Teo Eng Dih, Chief Executive, MPA, and Mr Wang Zhinan, Director General, Tianjin Municipal Transportation Commission, signed this MoU.
The MoU marked the first Green and Digital Shipping Corridor established between Singapore and China to support the decarbonisation, digitalisation and growth of the maritime industry between Singapore and the Bohai Region.
The Singapore – Tianjin Green and Digital Shipping Corridor will serve as a valuable testbed for both countries to pilot and trial digital solutions, alternative bunker fuels and technologies, and facilitate talent development to support the decarbonisation and digitalisation of shipping.
Singapore and Tianjin will work with the research community, the institutes of higher learning, and industry stakeholders such as shipping lines, port operators, shipbuilders, classification societies, and bunker suppliers to enable more efficient port clearance through digital exchanges, encourage the offtake of zero or near-zero greenhouse gas emission fuels and adoption of new fuel technologies, spur innovation and support the growth of the maritime startups community, and facilitate manpower training and professional development.
The establishment of the Singapore – Tianjin Green and Digital Shipping Corridor reaffirms the strong commitment by Singapore and Tianjin to accelerate maritime decarbonisation and digitalisation. Singapore will also be exploring the establishment of similar collaboration with other maritime and port ecosystems within China.
Photo credit: Maritime and Port Authority of Singapore
Published: 8 December, 2023
Decarbonisation
Report highlights routes-based action plan methodology to accelerate uptake of clean bunker fuels
NextGEN Connect-GreenVoyage2050 collaboration, which includes Singapore, emphasises the important role of regional energy hubs in enabling the inclusive adoption of clean marine fuels.

Published
2 days agoon
December 8, 2023By
Admin
The Maritime and Port Authority of Singapore (MPA) on Thursday (7 December) said the NextGEN Connect-Green Voyage2050 Project identified a key role for regional hubs to help connect large demand clusters and remote locations, with regional fuel supply sources, in order to enable a more inclusive and effective transition to a low-carbon maritime future.
The project is a collaboration between Singapore, Norway and the International Maritime Organization (IMO).
These findings were unveiled in the Lloyd’s Register Maritime Decarbonisation Hub (LR MDH) report titled Routes-based Action Plans: A Toolkit launched at the Voyage to Net-Zero Forum, which was organised by MPA, at the 28th United Nations Climate Change Conference (COP28/CMP8/CMA5) yesterday.
The report was developed following a workshop discussion that was held from 5 to 6 October 2023 in Singapore, with the participation of 40 stakeholders representing ports and National Administrations across Asia, based on the concept of the LR MDH’s First Movers Framework for green corridors. The workshop simulated the process steps of the routes-based action plan methodology, addressing the limitations in its application in the wider Asian context. Additional engagements with stakeholders from the Pacific are envisaged to further refine the methodology.
“One of the key findings in our report highlighted the varying pace of decarbonisation efforts across the Asian region and the need for regional coordination among governments to establish energy clusters that will serve both as demand centres and energy producing hubs” said Charles Haskell, Director at LR MDH.
The creation of energy producing hubs includes defining a strategy that brings together demand from different countries at different developmental stages across the region to build up investment cases for implementing energy infrastructure at scale, all the while taking into consideration the economic and social benefits for local communities.
The report also emphasised that routes-based action plans should be steered by national governments to give confidence to the industry’s infrastructure investment decisions, with development banks and regional funds needing to play a part to help tailor financing solutions to support infrastructure development.
“If we truly want to achieve a net-zero future where no one is left behind, we cannot focus only on existing first mover initiatives. We must also study locations where the energy infrastructure is still in its infancy”, added Charles Haskell.
Essential to driving the implementation of routes-based action plans, as highlighted in the report, is the pooling of resources and capacity building to develop the business case for building the necessary infrastructure for regional hubs that include Least Developed Countries (LDCs) and Small Island Developing States (SIDS). This will require regional coordination and collaboration involving governments and all stakeholders across the maritime supply chain.
Mr. Teo Eng Dih, Chief Executive of MPA, said: “As we steer toward a sustainable maritime future, fostering a collective and inclusive approach is imperative in the development of green corridors and the energy transition to decarbonise international shipping.”
“The NextGEN Connect-GreenVoyage2050 collaboration emphasises the important role of regional energy hubs in enabling the inclusive adoption of clean marine fuels, particularly for LDCs and SIDSs. MPA looks forward to continuing its collaboration with IMO, Ministry of Climate and Environment of Norway and LR MDH to pilot solutions to reduce GHG emissions from ships and drive innovative transformations in the maritime industry.”
Sveinung Oftedal, Chief Negotiator of the Norwegian Ministry of Climate and Environment, said: “Separate routes for emission-free ferries and ships can play an essential role in stimulating early action to adopt zero or near-zero emission technologies and fuels, and hence are an important step towards decarbonising shipping. There is currently a significant volume of maritime traffic between Asian countries, and our workshop was a great forum to discuss opportunities the decarbonisation of maritime shipping can bring and how efforts can be linked to countries’ wider energy transition.”
Jose Matheickal, IMO Director of Partnerships and Projects, said: “Supporting developing countries, including SIDS and LDCs, in their efforts to implement the 2023 IMO Strategy on the Reduction of GHG Emissions from Ships is imperative to the decarbonisation of the maritime sector. IMO is pleased to provide, through this collaboration, practical support around the development and subsequent implementation of National Action Plans and route-based actions in line with IMO’s MEPC RESOLUTION.366(79) that encourages Member States to undertake these voluntary actions to facilitate the achievement of greener shipping and reduced emissions.”
Note: ‘Routes-based action Plans: a toolkit’ can be found here.
Photo credit: Maritime and Port Authority of Singapore
Published: 8 December, 2023

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