Alternative Fuels

NORDEN buys stake in biofuel producer to bring biooil products to bunker fuel market

Investment is a strategic partnership, where NORDEN secures access to renewable fuels, specifically biooil, at favourable pricing while it brings MASH Makes biooil into the market.

Published

1 year ago

August 7, 2023

Admin

Denmark-headquartered shipping firm NORDEN on Wednesday (2 August) said it has acquired a minority stake in MASH Makes, a Danish-Indian biofuel scale-up, which researches, develops and produces renewable fuels from biomass waste.

The investment is a strategic partnership, where NORDEN secures access to renewable fuels, specifically biooil, at favourable pricing. The partnership places NORDEN at the forefront of the research and development of future renewable fuels, where NORDEN can also benefit from future renewable biooils once developed.

NORDEN and MASH Makes have prior to the investment collaborated on the use of biofuels since 2021. Based on this collaboration and subsequent in-depth review of the MASH Makes technical platform and business model, NORDEN gained insights into the viability and scalability of the MASH Makes biofuel platform.

“We cannot rely solely on traditional offtake agreements with fuel suppliers to achieve decarbonisation at the necessary speed that climate change requires,” says NORDEN CEO, Jan Rindbo. “We need to be a greater part of the supply chain, to both ensure significant volumes and attractive prices that can make NORDEN competitive in offering low emission freight solutions to our customers.”

The investment is in line with NORDEN’s climate strategy of helping our customers decarbonise their supply chain and is also a natural next step in our biofuel journey. NORDEN was in 2018 one of the first shipping companies to successfully trial 100% biofuel on a large ocean-going vessel.

“With this investment, we are turning our attention to the next generation of biofuels and scale up consumption of biofuel,” says Adam Nielsen, Head of Logistics & Climate Solutions at NORDEN. “The benefit of biooil is that it can be used in existing vessel technologies and bridge the gap between transitioning from fossil fuels to carbon free fuels, which requires new vessel technologies.”

As a strategic partner, NORDEN’s role will be to help MASH Makes bring its biooil products to the marine fuel market and offtake biofuel for NORDEN’s fleet. The production of MASH Makes’ first biooil product is in a late development stage and NORDEN expects to conduct the first trial onboard NORDEN vessels in early 2024. Furthermore, the expectation is that MASH Makes can gradually ramp up its production and become a significant supplier to NORDEN’s fleet within the next 3 years in strategically important locations for decarbonising global tramp shipping.

“We are excited and humbled by the fact that NORDEN – a uniquely capable purchaser in the biofuel space - has seen sufficient potential in our platform to not only invest, but also to enter a strategic offtake- and potential production site financing agreements with MASH. We believe that this partnership will greatly accelerate the continued scale up of our business and put us on track for our gigaton range greenhouse gas reduction target,” Jakob Andersen, CEO of MASH Makes, said.

Photo credit: Chris Pagan on Unsplash
Published: 7 August, 2023

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Bunker Fuel

SIBCON 2024: Singapore bunker suppliers must provide e-BDN from 1 April 2025

Senior Minister of State Amy Khor also announced MPA will reduce the frequency of verification checks for mass flow meters from twice a year currently, to once a year, from 1 April 2025.

Published

5 hours ago

October 9, 2024

Admin

SIBCON 2024: Singapore bunker suppliers must provide e-BDN from 1 April 2025

From 1 April 2025, all bunker suppliers in the Port of Singapore will be required to provide digital bunkering services as a default, said Senior Minister of State for Transport and Sustainability and the Environment Amy Khor on Wednesday (9 October).

Khor said Singapore will be the first port globally to implement digital bunkering at scale. MPA launched the digital bunkering initiative on 1 November 2023, becoming the first port in the world to implement electronic bunker delivery notes (e-BDN).

“This initiative is expected to save the industry close to 40,000 man-days annually. In addition, MPA will introduce a centralised electronic Bunker Delivery Note record verification facility to enhance the transparency and integrity of transactions in bunkering operations,” she said in her speech at the 23rd Singapore International Bunkering Conference and Exhibition (SIBCON).

She emphasised that the Maritime and Port Authority of Singapore (MPA) will work closely with industry partners and the unions to digitalise and streamline processes to improve efficiency in our port; strengthen our capabilities for the bunkering of future fuels and encourage adoption of these fuels; and upskill our workforce to facilitate the green transition.

Khor also made the following announcements:

From 1 April 2025, MPA will reduce the frequency of verification checks for mass flow meters from twice a year currently, to once a year. Singapore was the first port globally to adopt mass flow meters in 2017, and this new move is expected to help the industry save approximately $300,000 annually.
From 1 January 2025, MPA will roll out two innovative AI applications, DocuMind and DocuMatch, developed in collaboration with cloud service providers to drive greater efficiency in our port. These are expected to accelerate certificate processing time from up to three days currently, to a few minutes for most transactions.
Two ammonia bunkering proposals by Mitsui and Fortescue-Equatorial Marine Fuels have been selected by the consortia for the next round of Request for Proposal to provide a low- or zero-carbon ammonia solution on Jurong Island for power generation and bunkering.
MPA will commit $50 million to support the implementation of the refreshed Maritime Singapore Green Initiative, to further encourage the early adoption of green fuels and technologies across the maritime industry.
Singapore will continue to strengthen international partnerships through initiatives like the Green and Digital Shipping Corridors (GDSCs) to enable the digitalisation and decarbonisation of shipping. On 9 October, MPA and the Shandong Provincial Transport Department will be signing the Singapore-Shandong GDSC at the sidelines of the 25th Singapore-Shandong Business Council co-chaired by Mr Chee Hong Tat, Minister for Transport and Second Minister for Finance, and Mr Zhou Naixiang, Governor of the Shandong Provincial Government.

Photo credit: Singapore Ministry of Transport
Published: 9 October, 2024

LNG Bunkering

Seaspan Energy takes delivery of first LNG bunkering vessel

“Seaspan Garibaldi” will take first cargo and finalise commissioning in Vancouver before its first ship-to-ship bunkering in Long Beach, where Seaspan will bunker a series of vessels.

Published

5 hours ago

October 9, 2024

Admin

Seaspan Energy takes delivery of first LNG bunkering vessel “Seaspan Garibaldi”

Seaspan Energy on Monday (7 October) said it took delivery of its first LNG bunkering vessel, the Seaspan Garibaldi and is currently sailing to Vancouver.

Manifold Times previously reported that the vessel is the first of three 7,600m3 LNG bunkering vessels and it is named after Mount Garibaldi, or “Nch'ḵay̓”.

The Garibaldi will take first cargo and finalise commissioning in Vancouver before its first ship-to-ship bunkering in Long Beach, where Seaspan will provide Simultaneous Operations to bunker a series of vessels.

Following its first bunkering, the Seaspan Garibaldi will continue to provide low-carbon solutions to vessels on the West Coast of North America and will soon be joined by Seaspan Energy’s second LNG bunkering vessel, the Seaspan Lions (Ch’ich’iyúy Elxwíkn).

The Seaspan Garibaldi is 112.8 metres in length, 18.6 metres in width, 5 metres in draft, with a design speed of 13 knots.

CIMC Sinopacific Offshore & Engineering (CIMC SOE), a small-scale gas carrier shipyard in the world, was appointed to build all three LNG bunkering vessels.

Photo credit: Seaspan
Published: 9 October, 2024

LNG Bunkering

Avenir LNG, Eni ink multi-year charter for LNG bunker vessel “Avenir Aspiration”

Avenir signed a Time Charter Party with Eni subsidiary LNG Shipping for one of the company’s 7,500cbm LNG bunker vessels; charter to Eni will commence from delivery in Europe in 2025.

Published

5 hours ago

October 9, 2024

Admin

Avenir LNG orders two 20,000cbm LNG bunker and supply vessels from CIMC SOE

Avenir LNG Limited on Tuesday (8 October) announced it has signed a Time Charter Party (TCP) with LNG Shipping S.p.A., a 100% subsidiary of Eni S.p.A.(Eni) for one of the company’s 7,500cbm LNG bunker vessels, the Avenir Aspiration.

The multi-year time charter to Eni will commence from delivery in Europe in 2025.

With this announcement, Avenir continues to deliver on its chartering strategy which has successfully concluded four new term charter agreements over the past 12 months across its fleet of five vessels on the water and two under construction.

This charter increases the company’s third-party charter revenue backlog, including options, to over USD 285 million, securing additional long term sustainable cashflow for the Group and shareholders over the next decade.

The Avenir Aspiration currently trades alongside the Avenir Ascension in the Northwest Europe performing small-scale supply services and ship-to-ship bunkering operations as part of Avenir’s physical LNG trading division, Avenir Supply and Trading.

Mr. Jonathan Quinn, Managing Director of Avenir LNG, said: “We are excited to be working with Eni to support their expansion into the LNG Bunkering market.”

“This transaction further solidifies Avenir as the trusted partner for modern and efficient small-scale LNG vessels as well as delivering on our strategy to facilitate the growth of LNG as a marine fuel globally.”

“We look forward to embarking on this long-term relationship with Eni whom we will serve with the highest safety and operational standards which Avenir has come to be known for.”

Photo credit: Avenir LNG
Published: 9 October, 2024