Business

FuelTrust launches Bunker Insights app to deliver transparency in the marine fuel chain

Bunker Insights offers teams the information they need to identify and avoid fuel risks and makes it easier to monitor and manage a cleaner, greener fleet.

Published

3 years ago

September 14, 2021

Admin

Technology company FuelTrust on Monday (13 September) announced the launch of its Bunker Insights application, designed for shipping fleets and fuel suppliers.

Bunker Insights uses a combination of artificial intelligence and blockchain technologies to establish an unalterable record of fuel transactions and to analyse and identify chemical risks and changes in fuel.

In doing so, the project makes it simple for ship owners and charterers to monitor and manage fuel risk, allowing the industry to adopt more sustainable practices backed by meaningful insights into the fuel lifecycle, says FuelTrust.

With more than 50% of ship operating costs linked to fuel and fuel-related machinery expense, the quality, quantity and compatibility of fuel across its lifecycle play a significant and critical role in determining fleet and voyage profitability.

Increasing pressure to demonstrate ESG compliance and the omnipresent risk of fuel contamination require owners and operators to be more vigilant about the provenance and quality of the fuels they use and to document their fuel supply chains more robustly – than ever before.

CEO of FuelTrust, Jonathan Arneault, commented: “Today we are delighted to be launching Bunker Insights to help ship owners, operators, and marine fuel suppliers, manage a range of fuels risks and outcomes. Bunker Insights offers an independent, transparent and traceable record of the provenance, quality, and emissions of the fuels they use.”

Bunker Insights offers teams the information they need to identify and avoid fuel risks and makes it easier to monitor and manage a cleaner, greener fleet.

By leveraging existing industry-wide standard documentation and commercial information with its patented AI Digital Chemist, FuelTrust provides Bunker Insights users with better intelligence on fuel quantity and quality, machinery compatibility and regulatory compliance. With an overall view of the fuel lifecycle – from well to wake – Bunker Insights provides all transaction parties with an independent assessment of risks.

Key features of the product include:

Cloud-based application that is simple to integrate with legacy fleet management and fuel sourcing software.
Digitalization of key fuel lifecycle documents and data, including bunker delivery notes (BDNs), fuel laboratory records, and certificates of analysis.
Encryption of digital data in a blockchain platform to establish an unalterable record of a fuel’s journey through the supply chain.
Patented AI technology to analyse the chemical composition of fuel at key points in its lifecycle from the pipeline to combustion.

Tailored to meet the needs of operators and suppliers, Bunker Insights tracks expected and actual emissions from the fuels used and provides a transparent account of regulatory compliance and associated risk. While maintaining an unalterable running ledger of fuel volumes, content, and deliveries for a given vessel, users can monitor and minimise GHG emissions and the risk of fraud in fuel transactions.

Jonathan Arneault, CEO of FuelTrust continued: “We believe that making advanced technology accessible and useful can help create a more transparent and traceable fuel ecosystem. As the world continues to meet the challenge of the energy transition, access to reliable data and insight about the fuel lifecycle will be vital for operators, owners and other key stakeholders across the maritime and energy industries.”

Recognizing the industry’s need for transparency and traceability in the bunker fuel lifecycle, FuelTrust worked with key industry stakeholders and advisors – including Stone Oil and The Isle of Man Ship Registry – to deliver a product ready to bring immediate impact to the market.

Cameron Mitchell, Director IOM Registry notes: “The Isle of Man Ship Registry is committed to maintaining and developing a high-quality fleet.”

“Working collaboratively with FuelTrust on their Bunker Insights solution, that helps establish a clear baseline of vessel compliance with fuel regulations, and aid shipowners in reducing their CO2 emissions, will help foster a global fleet where owners and operators can more confidently meet these high standards.”

Tony Odak, COO of Stone Oil said, “We value safety, efficiency and trust in everything we do for our clients. Reliable documentation of the quality and provenance of the fuel we supply is a key part of this. by partnering with FuelTrust, we’re digitising and extending the ability to trace fuel up and downstream, gaining and giving insight into fuel quality and ESG impacts.

“We’re leveraging FuelTrust to help minimise fuel risk from potential fraud, incompatibility, and environmental costs.”

Photo credit: FuelTrust
Published: 14 September, 2021

LNG Bunkering

Japan: MOL’s third LNG-fuelled ferry “Sunflower Kamuy” starts operation in Oarai

“Sunflower Kamuy” will serve the Oarai-Tomakomai route between Ibaraki Prefecture and Hokkaido as a replacement for the Sunflower Daisetsu, says MOL.

Published

24 hours ago

January 24, 2025

Admin

Japan: MOL third LNG-fuelled ferry “Sunflower Kamuy” starts operation in Oarai

Mitsui O.S.K. Lines (MOL) on Thursday (23 January) announced that the LNG-fuelled ferry Sunflower Kamuy, owned by MOL and operated by its group company MOL Sunflower, entered service in Oarai.

The vessel will be the third LNG-fuelled ferry operated by MOL Sunflower, following the Sunflower Kurenai and Sunflower Murasaki, which have been in service on the Osaka-Beppu route from 2023.

Sunflower Kamuy will serve the Oarai-Tomakomai route between Ibaraki Prefecture and Hokkaido as a replacement for the Sunflower Daisetsu.

Along with the sister vessel Sunflower Pirka, scheduled to enter service in early summer 2025, MOL Sunflower will operate a fleet of four LNG-fuelled ferries on the Oarai-Tomakomai route and the Osaka-Beppu route within 2025.

MOL Sunflower operates 10 ferries and 4 RoRo vessels on six routes throughout Japan, from Hokkaido to Kyushu, providing service for both logistics and passengers in Japan.

Photo credit: Mitsui O.S.K. Lines
Published: 24 January, 2025

Winding up

Singapore: Notice of preferential dividend issued for Asia-Pacific Shipyard

Creditors will need to submit proofs to liquidators of Asia-Pacific Shipyard Pte Ltd by 6 February, according to a Government Gazette notice.

Published

24 hours ago

January 24, 2025

Admin

A notice of preferential dividend for Otto Marine Limited, which is in liquidation, was published on the Government Gazette on Friday (9 September).

The following are details of the notice:

Name of Company : Asia-Pacific Shipyard Pte Ltd (In Creditors’ Voluntary Liquidation)
Unique Entity No./Registration No. : 197300183MAddress of Registered Office : 8 Wilkie Road, #03-08 Wilkie Edge, Singapore 228095

Last Day for Receiving Proofs : 6 February 2025

Name of Liquidators : Ng Kian Kiat and Yap Hui Li

Address of Liquidators : c/o RSM SG Corporate Advisory Pte. Ltd., 8 Wilkie Road #03-08, Wilkie Edge, Singapore 228095

Photo credit: Drew Beamer
Published: 24 January, 2024

LNG Bunkering

SEA-LNG report: Number of LNG-fuelled vessels in operation up by over 33% in 2024

Based on its latest ‘View from the Bridge’ report, SEA-LNG reported an annual vessel growth of over 33% to 638 LNG-fuelled vessels in operation worldwide in 2024.

Published

24 hours ago

January 24, 2025

Admin

SEA-LNG report: Number of LNG-fuelled vessels in operation up by over 33% in 2024

Industry coalition SEA-LNG on Thursday (24 January) reported an annual vessel growth of over 33% to 638 LNG-fuelled vessels in operation worldwide in 2024.

This was one of the findings of SEA-LNG’s annual ‘View from the Bridge’ report, highlighting 2024 as another year of growth for the LNG pathway.

Analysing data from SEA-LNG members, the report found that global market adoption and growth reached record heights in 2024.

Looking forward, over 1,200 vessels are expected to be operating by the end of 2028. In 2024, LNG dual-fuelled vessels accounted for 70% of alternative fuelled tonnage ordered, excluding LNG Carriers, up from 43% in 2023.

This record expansion follows the growing availability of LNG bunker fuel beyond the traditional bunkering hubs. Currently, LNG bunkers are accessible in approximately 198 ports worldwide, and plans are underway for bunkering facilities in an additional 78 ports. This comes as over 60 LNG bunkering vessels are operating today, marking a 22% increase from 2023.

The ‘View from the Bridge’ report also highlights how the LNG pathway took a significant step in 2024, with liquified biomethane delivering on decarbonisation and regular renewable e-methane supplies expected in 2026.

SEA-LNG members are prepared to offer biomethane bunkers in some 70 ports globally, with multiple bunkering operations already taking place.

A highlight was the successful biomethane bunkering pilot as part of the Methane Track within the Rotterdam-Singapore Green and Digital Shipping Corridor (GDSC). This was the first practical delivery of any international Green Corridor since they were announced as part of the Clydebank Declaration at COP 26 in Glasgow.

Peter Keller, chairman of SEA-LNG, said: “Our latest View from the Bridge reaffirms the importance of the LNG pathway as a practical and realistic route to shipping’s decarbonisation now. We continue to believe that the shipping industry is heading towards a successful multi-fuel future where LNG will always play a critical role.”

“To deliver net zero by 2050 across the global shipping fleet, a basket of fuels is required and the LNG pathway will continue to lead the way. This is not a case of my fuel versus your fuel but rather which fuel best allows the industry to reach its stated goals. The LNG pathway provides the path to net zero.”

SEA-LNG’s latest report also highlights that 2024 has seen considerable progress in addressing methane slip. “Advances in eliminating methane slip, in combination with biomethane and e-methane, provide a clear, effective, and viable long-term pathway towards net zero emissions. Shipowners and operators can be confident that the vessels ordered today are future-proofed for their lifespan.”

“With a proven track record of technical improvements to reduce methane slip and upstream emissions, coupled with tighter regulations from global and regional authorities, we continue to believe methane slip will be a non-issue by the end of this decade,” Keller continued.

FuelEU Maritime will be a key regulation in advancing shipping industry decarbonisation, heading into 2025. According to analysis from SEA-LNG, FuelEU Maritime creates a favourable environment for the LNG pathway.

With the ability to achieve GHG emissions reductions of up to 23%, LNG-fuelled vessels are compliant until 2039. The use of liquefied biomethane and e-methane can extend compliance through to 2050 and beyond.

Note: The full report is available for download here.

Photo credit: SEA-LNG
Published: 24 January, 2025