UAE-based vessel operator Oilmar Shipping and Chartering DMCC on Tuesday (21 June) said its bunker desk has successfully organised the company’s first carbon neutral marine fuels voyage on FMT Bergama.
“The chemical tanker consumed the carbon credits while travelling from the Spanish port of Huelva to the Italian Port of Naples, and further ahead,” Rakesh Sharma, Oilmar’s head of business and the carbon market desk lead, told Manifold Times.
Oilmar collaborated with several market players, including Singapore-based global carbon exchange and marketplace Climate Impact X, for the development.
“We had considered the voyage distance, total fuel consumption including the ancillary services to calculate the carbon footprint on the voyage,” he said.
“Our first transaction acts as an entry point into the carbon markets, which offers owners, operators, and charterers to offset their emissions and comply with ESG requirements.
“Oilmar is positioned perfectly to provide a package of carbon neutral marine fuels to its customers.”
Related: Oilmar opens bunkering subsidiary Oilmar Greece SPC for Mediterranean market
Related: Oilmar enters into a trade-credit insurance policy with trade credit insurer Euler Hermes
Related: Oilmar Shipping and Chartering hires Credit Risk Manager to support bunker desk
Related: Oilmar appoints Maaz Ahmed Team Leader of newly established bunker trading desk
Related: Olimar Shipping forays into bunker trading amidst pandemic-related uncertainties
Photo credit: Oilmar Shipping and Chartering
Published: 22 June, 2022
In its financial results, CMA CGM said it has already reduced its CO2 emissions by 49% (TEU-km), in line with its objective of reaching -50% emissions by 2030.
Shipping depends on fossil fuels, and the majority of ships globally are powered by hydrocarbon based fuel oils, with some variation in grade and specification.
Information accessible on THETIS-MRV, a web application developed by European Maritime Safety Agency.
Meetings focused on enhancing maritime collaborations between Singapore and Norway and Greece, especially in decarbonisation and digitalisation initiatives.
New agreement underlines the clear ambition of Port of Duqm to become future bunker hub, says CEO.
Provides scrubber design, manufacture and installation processes under one roof for customer convenience.
‘MFMs will continue to have a place within the bunkering sector even when the shipping industry continues to adopt new types of marine fuels, such as LNG, biofuel, methanol, ammonia and hydrogen,’ states spokesman.
Current ISO 8217 bunker fuel standard not comprehensive enough for biofuels; National Mirror Committee working with local players to develop more comprehensive biofuels standard for Singapore, says Capt. Rahul.
‘There are some important differences between VLSFO and biofuels, and as a result, parties should consider whether additional changes should be made to biofuel bunker contracts,’ says Paul Collier.
Quek Rong Hong first joined Shell sometime in 2005 and had held the position of Blending Specialist from November 2017. At the time of arrest, his monthly basic salary was about SGD 4,300, showed documents.
Glencore previously commenced Singapore International Arbitration Centre Emergency Applications against Straits Pinnacle but those applications were dismissed, according to documents obtained by Manifold Times.
Captain Segar, MPA Assistant Chief Executive, Operations, to be also joining IBIA for the game where proceeds will be channelled into an IBIA Bursary Fund for supporting students to obtain a maritime studies degree.
