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Monjasa prepares to supply bio bunker fuels in Latin America while demand increases

Firm is waiting for the shift away from biofuel trial voyages to a broader pick-up in demand; now extends monthly capacity of 5,000 to 7,000 mt of 2nd generation biofuel blends in Colombia.




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International bunkering firm Monjasa on Thursday (14 September) said it has enabled a sustainable and scalable biofuel option for the maritime industry in Latin America in its preparation for the marine fuel mix of the future.

However, Monjasa said it still awaits the shift away from biofuel trial voyages to a broader pick-up in demand. 

"The recent revised IMO 2050 climate strategy is a noticeable boost to the green fuels industry, however, more concrete and binding requirements are needed to ensure a broad fuel transition away from fossil fuels for the global merchant fleet,” said Jesper Nielsen, Group Responsibility Director at Monjasa.

“Monjasa holds a unique position in the value chain between upstream fuel producers and downstream customers. Therefore, although our data indicates that the demand for biofuel blends is only emerging slowly, we keep preparing our global supply chains, fleet logistics and organisation for the fuel mix of tomorrow.”

Most recently, Monjasa’s efforts have been focused on Latin America and the Colombian port of Cartagena. 

Monjasa already supplies traditional bunker fuels in Colombia and the company now extends its local maritime logistics to include a monthly capacity of 5,000 to 7,000 metric tonnes of 2nd generation biofuel blends, primarily B20 and B30.

“Together with our partners, we have enabled biofuels supply not only for the Colombian market, but potentially also for the main ports across Latin America, including the Panama Canal. Looking at the current demand, it is the large container lines who are showing concrete interest and driving demand for

biofuels in this market,” said Camilo Angulo Ferrand, Trading Manager at Monjasa Americas.

“Looking towards 2025, we expect that biofuels will become a broadly accepted option to comply with IMO's strategy on reducing CO2-emissions from maritime shipping.”

By July 2023, Monjasa achieved the globally applicable sustainability certification system, ISCC, across offices and operations in Panama, USA, Denmark, Dubai and Singapore. 

Monjasa also provides biofuel options in other parts of the world, including this summer’s first B24 biodiesel supply for a Very Large Gas Carrier (VLGC) off Dubai. 

This operation was the result of new collaboration across the supply chain involving Astomos Energy, Inpex Corporation and Monjasa, with the product being blended and supplied by Monjasa’s locally deployed bunker tanker, Monjasa Shaker.

In Asia, Monjasa recently revealed new maritime logistics adaptable to biofuels supply in the Port of Singapore. The new operation will consist of a total of three vessels by the end of 2023.

Overall, Monjasa supplied a total of 6.4 million tonnes of marine fuels in 2022.

Related: Astomos and INPEX complete Middle East’s first ever biofuel bunkering to VLGC
Related: Monjasa to add two bunker tankers in Singapore later this year
Related: Monjasa moves into new Singapore office at 1 Raffles Place building

Photo credit: Monjasa
Published: 15 September, 2023

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Alternative Fuels

Singapore Shipping Association to hold webinar on bio bunker fuel 

Alpha Biofuels’ Founder and CEO Mr Allan Lim will share insights into types of biofuel bunkers available in the market and cover their widespread applications across various industries, including shipping.





Singapore Shipping Association to hold webinar on bio bunker fuel

Singapore Shipping Association (SSA) on Monday (4 December) said it was hosting an exclusive webinar hosted by Alpha Biofuels in the next instalment of SSA’s Educational Talks on 8 December. 

Alpha Biofuels’ Founder and CEO Mr Allan Lim will share insights into the diverse types of biofuels available in the market and cover their widespread applications across various industries, including shipping. 

The talk will cover topics focused on biofuel such as:

• Introduction of Alpha Biofuels

• Exploring Biofuel Types and Usage

• The Importance of Sustainability Certification

• Operational Efficiency and Storage Best Practices:

The details of the event are as follows: 

Date: Friday, 8 December 2023
Time: 4:00pm – 5:00 pm
Venue: ZOOM

Note: To register, click on this link (SSA/098/23/EML) here.

Photo credit: Singapore Shipping Association
Published: 5 December, 2023

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Vale partners with Oldendorff in its first bio bunker fuel trial for iron ore voyage

“Hinrich Oldendorff” loaded biofuel in Singapore on 16 October on ballast voyage to Brazil, B24 biofuel used is a blend of about 24% biodiesel produced with used cooking oil of vegetable origin and fuel oil.





Vale partners with Oldendorff for its first bio bunker fuel trial for iron ore voyage

Global mining firm Vale on Thursday (30 November) said in partnership with Oldendorff Carriers, it has commenced its first biofuel voyage on a bulk vessel. 

The trial is taking place on an Oldendorff vessel performing a laden Vale voyage from Brazil to Asia, carrying a full cargo of iron ore. 

Hinrich Oldendorff loaded the biofuel in Singapore on 16 October on the ballast voyage to Brazil. The vessel then loaded Vale’s iron ore 29 November at Guaiba Island Terminal and will consume the blended biofuel on the laden leg from Brazil to Asia.

The B24 biofuel on board is a blend of about 24% biodiesel produced with used cooking oil of vegetable origin (286 metric tonnes) and fuel oil. The product supplied is both European Union Renewable Energy Directive (EU RED) compliant and certified by International Sustainability & Carbon Certification (ISCC). The expected well-to-wake CO2 equivalent savings is around 18% or 785 metric tonnes of CO2 equivalent and will contribute to Vale’s Scope 3 emission reduction.

Using biofuel on the laden voyage is part of the Ecoshipping program, an R&D initiative developed by Vale shipping area to reduce the shipping greenhouse gas emissions in line with the ambitions set by the International Maritime Organization (IMO). 

The programme is testing and developing solutions for the use of alternative fuels for shipping, in addition to piloting new energy efficiency technologies. 

Michelle Gonzalez, General Manager of Chartering, Long-Term Contracts and Operations at Vale, said: “We are happy to have great shipping partners committed to support our initiatives and make it happen, genuine collaborations and partnerships will be the key of the success.”

Oldendorff Carriers has previously performed biofuel trials on smaller vessels and for shorter voyages, but this will be Oldendorff's first full voyage consuming biofuel on a Newcastlemax.

Patrick Hutchins, CEO of Oldendorff Carriers, said: “We are delighted that Vale has chosen Oldendorff Carriers for their first biofuel voyage. We look forward to investigating further opportunities together with Vale to advance the shipping and mining industries progress in achieving sustainability goals.”

Photo credit: Vale
Published: 4 December, 2023

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Argus Media: European marine biodiesel prices converge

Market participants said uncertainty was a factor lending measured support to prices in recent weeks, eventually settled by decision by Dutch government to reduce multiplier for bio bunker fuels from 2024.





resized argusmedia

Marine biodiesel blend price spreads converged along regional lines in November, as traded values eased in the west Mediterranean but held ground in northwest European ports.

1 December 2023 

The price of B24, a blend comprising 76pc very-low sulphur fuel oil (VLSFO) and 24pc used cooking oil methyl ester (Ucome), fell to $775.67/t, dob Algeciras-Gibraltar, on 15-30 November from $783.68/t in the two weeks prior.

The price slipped on the back of thinning trading activity as a consequence of limited marine biodiesel bunkering demand in the region, according to market participants. And unbalanced upstream fundamentals on the VLSFO and Ucome markets weighed on market fundamentals for the B24 blend.

Easing prices for marine biodiesel in the Mediterranean were not mirrored in northwest Europe. Argus assessed B30 (Ucome) fob ARA, which combines the European benchmark biodiesel assessment and fob VLSFO barge prices, at an average of $764.32/t in the second half of November — higher by $4.54/t from the average in 1-14 November.

Market participants reported firmer demand in Antwerp for the B30 (Ucome) fob ARA blend, ahead of introduction of the EU emissions trading system (ETS) regulations.

Argus assessed Ucome fob ARA range barges at an average of $1,262.25/t in the second half of November, higher by nearly $40.50/t than the average on 1-14 November as market participants held onto storage with an eye on a contango structure into 2024. As a consequence, the premium commanded by B24 dob Algeciras-Gibraltar to B30 (Ucome) fob ARA narrowed to $11.34/t (or 1.5pc) from $23.90/t (or 3.16pc) in the same timeframe.

The price convergence translated more prominently on the advanced biodiesel marine blend. The B30 advanced fatty acid methyl ester (Fame) 0°C CFPP dob ARA price — which incorporates a significant price deduction for advanced Dutch renewable fuel (HBE-G) tickets, which are available for those domestically blending biofuels produced from feedstocks listed in Annex IX Part A of the EU's Renewable Energy Directive (RED II) — rose to an average of $671.56/t in the second half of the month, from $660.68/t on 

1-14 November.

Market participants said uncertainty was a factor lending measured support to prices in recent weeks, eventually settled by the decision by the Dutch government to reduce the multiplier for biofuels in maritime shipping to 0.4 from 2024. Those in the market have sought to take advantage of the current multiplier of 0.8 before the year ends. B30 advanced Fame dob ARA prices should rise further in 2024 regardless of demand for the blend components, based on a lesser reduction in the HBE-G value that is deducted from the total.

Argus assessed B24 dob Algeciras-Gibraltar at a premium of $104.10/t (or 15.51pc) to the B30 advanced Fame dob ARA on 15-30 November, narrowing from the $123/t (or 18.66pc) premium held in the two weeks prior.

By Hussein Al-Khalisy

Photo credit and source: Argus Media
Published: 4 December, 2023

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