Bunker Fuel

MTF releases revised framework to include more bunker fuel types

Updated Framework and extended heatmap report from MTF deliver a comprehensive view
on current bunker fuel options and updates criteria to compare them.

Published

7 months ago

March 15, 2024

Admin

MTF releases revised framework to include more bunker fuel types

The Maritime Technologies Forum (MTF) on Tuesday (12 March) released an updated Framework for Assessing Decarbonization Technologies and Alternative Energy Carriers and a comprehensive assessment on the maturity and readiness of alternative bunker fuel options, expanding the number of evaluated fuels covered since the previous heatmap report issued in November 2022.

The assessment applied MTF’s recently updated framework to an expanded set of eight marine fuels, including fossil LNG, fossil MGO combined with carbon capture and storage (CCS), liquefied bio-methane, bio-methanol, green synthetic methanol, green ammonia and liquefied blue hydrogen, comparing each to the current baseline fuel, fossil MGO.

Christopher J. Wiernicki, ABS Chairman and CEO, said: “We are pleased to deliver this updated framework and heatmap report which builds on our previous work by expanding the number of evaluated fuels and explores the critical boundary conditions for each. Understanding the level of readiness, including availability and scalability, of a variety of alternative fuel options is an important step to helping industry prioritise and safely deliver the next generation of fuels and enabling technologies,” said

Knut Ørbeck-Nilssen, DNV- Maritime CEO, said: “By evaluating a wide variety of emerging fuels through MTF’s newly revised framework, we were able to get a more comprehensive view and gain a better comparison of how all of the fuels stack up against each other. This evaluation provides a critical roadmap for industry’s adoption of alternative fuels, supporting a safer and more sustainable maritime industry.”

The MTF framework, led by DNV, covers eight categories of evaluation, greenhouse gas emission intensity, technology readiness and acceptance, sustainability and environmental aspects, safety, economic viability, regulatory maturity, skills availability and engineering.

The framework criteria work as a checklist, ensuring a systematic and standardised evaluation of technologies and energy carriers.

In addition to assessing the feasibility of each fuel based on the relevant criteria, the evaluation also takes into consideration the level of confidence in the assessment. Results of the assessment are presented in the form of heatmaps, aiding the identification of hot spots that are areas requiring more attention or prioritisation to help industry meet ambitious net-zero emission goals.

Work on the heatmap report, led by ABS, concluded with five key observations:

Well-to-Wake GHG emission performance is critical in the long term: The use of biofuels and hydrogen-based solutions will provide lower lifecycle emissions (potentially zero or near zero when using sustainable energy sources).
Safety needs careful management for some hydrogen-based synthetic fuels: There is a moderate amount of data available for using ammonia and hydrogen as fuel. Most of this data is from other industries, or the carriage of fuel on liquified gas carriers. Additional research and studies are needed to further reduce or fully mitigate the associated risks addressing bunkering and onboard handling for these alternative solutions as fuels.
The need for additional training related to handling of more hazardous alternative fuels is reconfirmed: Training, safety awareness and management practices need to develop to similar levels seen onshore for these hazardous fuels.
Technology for many fuel options is available with high maturity: In terms of technology readiness, all solutions considered as demonstrated, or proven, in a relevant environment (TRL 6 or above). Use of ammonia and CCS still needs to be proven to reach a sufficient TRL for commercial uptake. Retrofits are generally possible with varying engineering complexity.
Supply chain resilience is not known for biofuels and hydrogen-based synthetic fuels: Supply chain resilience has been evaluated as low on confidence for all the biofuels and hydrogen-based fuels considered, and currently as not feasible for green ammonia. This accounts for the current limited fuel availability.

Note: A copy of the updated framework can be viewed here and the extended heatmap report can be found here.

Photo credit: Maritime Technologies Forum
Published: 15 March 2024

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Cosco Shipping Lines cargo ship completes first B24 biofuel bunkering op in China

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Biofuel

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.

Published

1 day ago

October 4, 2024

Admin

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.

Published

1 day ago

October 4, 2024

Admin

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

Admin

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