Classification society on Monday (17 May) published its latest whitepaper examining the potential of biofuels in shipping.
The Sustainability Whitepaper: Biofuels as Marine Fuel gives an overview of the various types of marine liquid biofuels that are “drop-in” fuel options for replacing conventional fuels in both the near- and long-term and their potential to contribute to industry decarbonisation goals. Other aspects considered include safety, vessel design implications and regulatory challenges.
“Biofuels have been identified as highly promising carbon neutral fuels that can enter the global market relatively quickly and help approach the IMO GHG reduction targets for 2030 and beyond,” said Georgios Plevrakis, ABS Director, Global Sustainability.
“Being produced from renewable biomass, biofuels have the potential to offset the carbon emissions of a vessel due to the CO2 absorption of the feedstock, which can help counterbalance the combustion emissions.
“However, the total carbon reduction potential of different biofuels clearly depends on a range of factors related to their value chain.
“ABS is committed to ensuring owners, operators, shipbuilders and original equipment manufacturers are fully informed about its potential as they develop their decarbonisation strategies,”
The guidance builds on ABS research developed in the ABS Low Carbon Shipping Outlook series, to help drive decarbonisation pathways for the industry.
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).
Firm hopes to leverage partnership in Greece as a springboard to expand into neighbouring and overseas markets including Europe and China, says Robin Van Elderen, Regional Head Bunkers, Europe, Sing Fuels.