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Fratelli Cosulich marine energy unit records EUR 5.6 million profit in 2024

‘Bunker trading results remained in line with the previous year, despite growing pressure on margins and the continued entry of new players into the market,’ says company in its 2024 Annual Report.

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Fratelli Cosulich marine energy unit records EUR 5.6 million profit in 2024

Genoa-based international shipping and logistics company Fratelli Cosulich Group on Thursday (31 July) recorded EUR 59.7 million (USD 69.1 million) in EBITDA in 2024, the second-best result in the group’s history. 

It recorded a net profit of EUR 20.6 million with its marine energy business unit delivering EUR 5.6 million. The unit also achieved EUR 28.1 million in EBITDA.  

“In 2024, the Marine Energy business unit confirmed its ability to maintain solid performance in a highly competitive and rapidly evolving environment,” the company said in its 2024 Annual Report. 

“Bunker trading results remained in line with the previous year, despite growing pressure on margins and the continued entry of new players into the market. Our ability to adapt, supported by our global reach and integrated structure, once again proved crucial.”

The company highlighted its key milestone in 2024 was the operational launch of its EUA trading desk, which during the year managed over 100,000 allowances, supporting customers’ compliance with EU regulations. 

Strategically, Fratelli Cosulich expanded its presence by completing the establishment of Fratelli Cosulich Korea LLC, reinforcing its position in a region of growing relevance.

“Throughout the year, we also secured term contracts with local refineries in Korea and India, while opening new credit lines in the Caribbean and South America to diversify trading activities,” it added. 

On the physical delivery side, the company is prepared to offer ULSFO and biofuels in Genoa by 2025 — an important step aligned with the evolving energy mix of global shipping.

Augusto Cosulich, Chairman of Fratelli Cosulich Group, also highlighted the group’s orders for four methanol-ready barges in Singapore. 

“This is our approach to sustainability: invest now to be ready when the market will demand for it. We want to play our part in leading the change in the shipping industry,” he said. 

The report further elaborated that among the alternative fuels gaining traction, methanol is becoming a realistic option for many shipowners. 

“Its advantages are clear: compatibility with existing infrastructure, relatively easier storage and handling, and growing availability in major global ports. Singapore, where the Group is consolidating its operations, is one of the places where methanol bunkering is most likely to scale in the coming years,” the company said. 

The Group’s report also featured its first complete Sustainability Report. Highlights of it include 64% of its bunker tankers in operation or under construction are already equipped to supply lower-emission fuels such as LNG or methanol.

 

Photo credit: Fratelli Cosulich
Published: 4 August, 2025

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Biofuel

BHP and GCMD trial multi-feedstock B100 bio bunker fuel on bulk carrier

Bio-blend in the BHP and GCMD pilot is being used on a BHP-chartered bulk carrier “Berge Lyngor”, which was bunkered in Singapore in early May.

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BHP and GCMD trial multi-feedstock B100 bio bunker fuel on bulk carrier

BHP and the Global Centre for Maritime Decarbonisation (GCMD) on Wednesday (3 June) said they have blended biofuels from two distinct feedstocks—used cooking oil and waste animal fats —and introduced the lower-emissions marine fuel into a BHP-chartered bulk carrier as part of a pilot project.

The bio-blend in the BHP and GCMD pilot is being used on a BHP-chartered bulk carrier Berge Lyngor, owned and operated by Berge Bulk, transporting BHP iron ore from Western Australia to China. When run on bio-blend, the vessel has the potential to reduce well-to-wake greenhouse gas emissions by approximately 79 per cent per voyage compared to sailing on very low sulphur fuel oil (VLSFO).

The vessel bunkered in Singapore in early May with a B100 bio-blend comprising 50 percent tallow-derived biodiesel, sourced and supplied by HAMR Energy, and 50 per cent used cooking oil (UCOME) supplied by Mitsui & Co Energy Trading Singapore (METS).

Mitsui also blended the fuel and Dan-Bunkering coordinated and executed the bunkering operation, which was performed by Global Energy’s barge MT Maple.

The BHP and GCMD pilot will assess how biofuels from multiple feedstocks can be blended, handled, and introduced under real-world operating conditions using existing used cooking oil bunkering infrastructure.

At the same time, insights from this pilot will help identify solutions to challenges related to fuel quality, handling, traceability, and onboard vessel performance.

Biofuels for global shipping today rely heavily on used cooking oil – a feedstock whose availability is approaching its projected limits. Biofuel from waste animal fats presents a promising option to expand the supply of lower-emissions marine fuels.

The outcomes of the pilot are expected to shed light on the practical steps to integrate biofuel blends from different feedstocks into existing supply chains. The diversity of biofuels will provide shipowners and operators with greater flexibility to optimise fuel procurement based on cost, availability, and lifecycle emissions performance.

Biofuels derived from different feedstocks can exhibit varying properties that may impact operations, including potential corrosion from oxidation, fuel system clogging caused by wax formation, which this pilot aims to assess.

The pilot will trace and verify the biofuel blend’s integrity aimed at bolstering confidence in emissions reductions reporting. The pilot will also provide insights into how robust tracing can support future marine fuel supply chains where biofuels from multiple feedstocks with varying lifecycle greenhouse gas emissions footprints are blended together.

This project is co-funded by the Maritime and Port Authority of Singapore under the Maritime Innovation and Technology Fund (MINT).

 

Photo credit: Global Centre for Maritime Decarbonisation
Published: 3 June, 2026

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Biofuel

NYK starts one-year B100 bio bunker fuel trial on car carrier

In this trial, NYK will operate a car carrier continuously on B100 for one year to evaluate the impact on engines, fuel supply systems, and operational practices.

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NYK starts one-year B100 bio bunker fuel trial on car carrier

Japanese shipping firm NYK on Tuesday (2 June) said it has commenced a one-year long-term trial involving the continuous use of 100% biofuel (B100) on an NYK-operated car carrier. 

In this trial, NYK will operate a car carrier continuously on B100 for one year to evaluate the impact on engines, fuel supply systems, and operational practices. High-purity biofuels such as B100 are known to be susceptible to degradation from oxygen, light, and heat, raising concerns about the stability of such fuels during long-term use.

In this trial, the biofuel primarily comprises FAME (Fatty Acid Methyl Ester) derived from used cooking oil and similar feedstocks.

The initiative is designed to evaluate the fuel’s effects on the vessel’s equipment and verify operational safety under real-world conditions. 

Through this effort, NYK seeks to accumulate technical expertise that will support the broader use of high-purity biofuels and further accelerate efforts to reduce greenhouse gas (GHG) emissions.

NYK has been advancing the use of biofuels through various initiatives. In 2024, the company conducted a trial using biofuel blend B24 and subsequently expanded practical usage to B30. However, the company said there remains limited global experience with the long-term continuous use of B100.

“By collecting long-term operational data through this trial, NYK aims to accumulate valuable technical insights to support both the safe operation of vessels and the wider adoption of high-purity biofuels,” it said. 

 

Photo credit: NYK
Published: 3 June, 2026

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Ammonia

AM Green plans to build green ammonia plant at Indian port

Initiative also includes development of green ammonia handling, storage and bunkering infrastructure, pilot bunkering operations, safety procedures and training programmes, says VOC Port Authority.

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VO Chidambaranar (VOC) Port Authority on Friday (29 May) said it has signed a Memorandum of Understanding (MoU) with India’s ammonia producer AM Green Ammonia to collaborate in the development of a green ammonia production plant.

The plant will have a capacity of one million tonnes per annum (MTPA) at Tuticorin.

The initiative also includes development of green ammonia handling, storage and bunkering infrastructure, pilot bunkering operations, safety procedures and training programmes. 

The project is expected to support the development of green fuel corridors connecting VOC Port with major ports in Europe and Asia, thereby strengthening India’s position in the global green fuels value chain.

VOC Port also signed a Memorandum of Understanding (MoU) with Bureau Veritas (India) Pvt. Ltd., to collaborate on Green Port certification, emissions accounting, ESG reporting, safety validation, development of green bunkering practices, and establishment of a Centre of Excellence for green fuels and sustainability.

The port also plans for an upcoming 750 m³ green methanol bunkering facility.

 

Photo credit: Naveed Ahmed on Unsplash
Published: 3 June, 2026

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