Business

Chevron, TotalEnergies, Seapeak join maritime methane reducing initiative

MAMII also announced that it has selected four providers to produce feasibility studies on the technologies which will reduce methane emissions from ships, with further details to be released soon.

Published

7 months ago

February 28, 2024

Admin

Energy companies TotalEnergies and Chevron, and major gas carrier Seapeak, have joined the Methane Abatement in Maritime Innovation Initiative (MAMII), led by SafetyTech Accelerator, according to the initiative on Tuesday (27 February).

The three companies join the now more than 20 members of MAMII, emphasising its pivotal role in addressing methane abatement within the maritime sector.

Chevron, a global energy company, Seapeak, an owner-operator of liquefied gas vessels, and TotalEnergies, the world’s third largest LNG player, will bring their valuable insights and commitment to MAMII's mission: tackling the critical challenge of ‘methane slip’.

The initiative also announced that it has selected four providers to produce feasibility studies on the technologies which will reduce methane emissions from ships, with further details to be released soon.

The release of unburnt methane is a key obstacle to unlocking the full environmental potential of Liquefied Natural Gas (LNG) as a maritime fuel. Now in its second year, MAMII was launched in September 2022 by Safetytech Accelerator, bringing together industry leaders, technology innovators, and maritime stakeholders to advance technologies for measuring and mitigating methane emissions in the maritime sector.

Lloyd Bland, Sr. Manager, Chevron Shipping, said: “Chevron Shipping is very pleased to join MAMII. We are committed to reducing methane emissions from our LNG carriers and MAMII is an excellent opportunity for us to work with industry leaders on sharing best practices and exploring new technologies to achieve this goal.”

Chris McDade, Vice President, Operations at Seapeak, added: “LNG is already the preferred choice versus traditional marine fuels - it generates less CO2 and has significantly lower emissions - but there can be even more done to minimise the environmental impact.

“As a MAMII anchor partner, our fleet will directly participate in feasibility studies, new equipment trials and testing of technical solutions to reduce or eliminate methane slip from LNG vessels”.

To date, MAMII has produced a comprehensive technology landscape report, covering regulatory requirements, 'Well to Tank' and 'Tank to Wake' analyses, and cost-benefit assessments for its members. The initiative curated an ecosystem of 27 companies specialising in methane capture, measurement, and abatement, with 13 actively engaged with MAMII partners.

MAMII is currently focussed on ‘on-ship’ trials, expanding the range of pilots, and starting to address fugitive methane emissions covering the entire spectrum of methane emissions on LNG-fuelled vessels.

Jerome Cousin, SVP Shipping at TotalEnergies, said: “As the world's third-largest LNG player, we are delighted to be joining the MAMII initiative and contribute our expertise in reducing the emissions all along the gas value chain.”

“It is key for TotalEnergies to further improve the environmental benefits of LNG as a marine fuel, already a major decarbonization lever for the maritime industry.”

Steve Price, MAMII Programme Director, said: “The inclusion of Chevron, Seapeak, and TotalEnergies signifies a collective commitment to overcoming the challenges of methane slip in LNG. Their participation reinforces MAMII's role in driving impactful change within the maritime sector, steering us towards a more environmentally responsible shipping industry.”

Photo credit: Venti Views on Unsplash
Published: 28 February, 2024

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Argus Media: Bunkering sector needs deeper dive into B24 bio bunker fuel market

‘As we advance into 2025, the need to understand how B24 matures in terms of market fundamentals, pricing and dynamics will be a key indicator for the marine sector,’ says Mahua Chakravarty of Argus.

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Argus Media organises free admission ‘Argus Asia B24 Forum’ for bunkering sector

Ahead of Argus Asia B24 Forum, Manifold Times interviewed Mahua Chakravarty, Head of Marine Fuels Pricing (Asia) of independent global energy and commodity market intelligence provider Argus Media; she explains the growing prominence of B24 bunker fuel in the marine sector and believes it is imperative for the bunkering sector to deepen its knowledge on it:

MT: Why is it important for the bunkering sector to know more about the B24 bunker fuel market?

B24 has emerged as the first alternative marine fuel that allows ship-owners and charterers a drop-in fuel option, and make greenhouse gas (GHG) savings, for their voyages into EU and territorial waters.

It has proved to be the most practical solution for ship-owners that eliminates costly retrofitting charges. The easy availability of used cooking oil methyl ester (UCOME) as a blendstock from China and southeast Asia, also adds to its overall attractiveness as an alternative fuel.

B24 consumption in the port of Singapore recorded multi-fold jumps to touch 518,000t in 2023 as ship-owners fuelled for trials in preparation for the implementation of EU-led mandates like the EU Emissions Trading Scheme (ETS) and the Carbon Intensity Index (CII) rating. In 2024, B24 demand has continued to grow with 377,800t of consumption seen up to August, according to statistics from the Maritime and Port Authority of Singapore (MPA).

As we advance into 2025, the need to understand how B24 matures in terms of market fundamentals, pricing and dynamics will be a key indicator for the marine sector. Being the first generation of new marine fuels, B24 has shown the way that biofuel blends can provide a solution for ship-owners/charterers to meet compliance mandates set by the EU and IMO.

MT: Why has Argus developed its own B24 Singapore price index? What's so special about it and why should the industry adopt it as a benchmark?

Argus was the first to launch its spot B24 delivered on board (DOB) Singapore assessment in January 2023, thus introducing price discovery for this market at its point of inception. The past 1.5 years of daily price assessments of B24, using a robust market survey approach, has built Argus’ understanding of this market from the start.

We have seen the growth of liquidity and the quest among refiners, traders, ship-owners to find pricing solutions for a nascent market. We have been at the forefront of capturing spot liquidity growth and in assessing prices for this market.

This index is now considered a key price assessment by key refiners, traders, ship-owners and other stakeholders in the market.

MT: What takeaways can each segment of the bunkering sector such as bunker buyers, bunker traders, and shipowners receive from the upcoming Argus B24 forum?

The Argus B24 Asia Forum is aimed at showcasing some of these learnings by a global team that covers key markets like Singapore, China and Europe. Our global team will present their insights on the key trends driving demand for marine biodiesel globally.

As the marine sector marches onwards with the bunkering of higher biofuel blends, this forum will allow the audience to reflect on the key factors that have driven the marine biodiesel sector. It will provide insights to make better decisions about infrastructure, pricing, feedstock-related issues and what blends are likely to be prevalent in the coming year.

We will be hosting a panel discussion at this forum that will include key players driving the marine biodiesel space in Singapore and other regions.

The Argus Asia B24 Forum will be held in The Village Hotel (The Events Centre by Far East Hospitality), Sentosa, Singapore (Google Maps) on 8 October between 4.00pm to 7.00pm Singapore Time.

Participants are encouraged to register for the free event via the custom link here.

Photo credit: Argus Media
Published: 4 October 2024

Bunker Fuel

Brazil: Raízen launches new bunkering operation in Itaqui

Operation will support both coastal and oceangoing vessels at Off Port Limits, allowing the firm’s customers to avoid full port call fees and unnecessary deviations, says Paula Georgopoulos Tinoco.

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Brazil: Raízen launches new bunkering operation in Itaqui

Brazilian energy firm Raízen has launched its new bunkering operation in Itaqui at the Outer Anchorage Area, according to Paula Georgopoulos Tinoco, Bunker Sales Coordinator at Raízen on Wednesday (3 October).

The firm is providing local supplies for the grades VLSFO380 (max. 0.5%S) and LSMGO DMA (max. 0.1%S).

“The new bunkering operation will support both coastal and oceangoing vessels with different sizes and class at the Off Port Limits, allowing our customers to avoid full port call fees and unnecessary deviations at different bunkering ports,” she said in a social media post.

In September last year, Bunker Holding subsidiary Bunker One announced that it partnered with Acelen, the largest bunker producer in the Brazilian state of Bahia, to offer the only outer anchorage bunkering operation in Brazil at the time.

Starting September 2023, vessels such as large cargo ships and tankers can be supplied in the anchorage area of the Port of Itaqui in São Marcos Bay (MA).

Photo credit: Raízen
Published: 4 October, 2024

Business

Rahim Oberholtzer named as new Infineum Chief Financial and Strategy Officer

Oberholtzer, a finance executive with over 25 years of experience, joins Infineum from Shell, where he has held various senior positions including Senior Vice President of Shell Finance for Chemicals and Products.

Published

1 day ago

October 4, 2024

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Rahim Oberholtzer named as new Infineum Chief Financial and Strategy Officer

International fuel additives company Infineum on Thursday (3 October) announced the appointment of Mr. Rahim Oberholtzer as the new Chief Financial and Strategy Officer, effective 1 October.

Oberholtzer will succeed Mr. Philippe Creteur, who has retired at the end of September 2024, after 18 years of dedicated service to Infineum.

Oberholtzer, a seasoned finance executive with over 25 years of diverse experience, joins Infineum from Shell, where he has held various senior positions. His most recent role was Senior Vice President of Shell Finance for Chemicals and Products.

During his career, Oberholtzer has acquired extensive expertise in public accounting, investment banking, and trading. He began his professional journey at KPMG in San Francisco as an auditor. He then moved on to Merrill Lynch, focusing on mergers and acquisitions and equity offerings within the energy sector, ultimately serving as Head of Structured Finance at Merrill Lynch Commodities.

In 2011, he joined Shell’s Mergers and Acquisitions team in the U.S., leading key projects such as the launch of Shell Midstream Partners and the Eagle Ford divestment. He subsequently managed finance teams in Trading & Supply, covering European Gas & Power, Global Crude, and Global Products & Operations.

Infineum CEO Aldo Govi, said: “We are deeply grateful for Philippe’s years of dedication and excellent contribution to Infineum. At the same time, I am thrilled to welcome Rahim to our corporate leadership team.”

Photo credit: Infineum
Published: 4 October, 2024