Independent online marketplace provider for cleaner maritime fuels Powerzeek on Thursday (10 September) said the company has added liquefied biogas (LBG) to its marine fuel platform.
The inclusion of LBG comes on the back of requests from the shipping market as well as the company’s mission to make it easier to source cleaner fuels such as LBG, it said.
Powerzeek launched its digital marine fuel platform in April. Since then, the company reports it has successfully onboarded LNG suppliers with a total supply capacity of more than 800,000 tons of LNG.
It feels the time has come to also add liquefied biogas (LBG), sometimes referred to as liquefied biomethane or bio-LNG.
Biogas is produced from organic waste materials such as food waste, sewage and agricultural waste/manure. This is effectively methane capture and use. As a result, the carbon dioxide that will be released when burning biogas is from sources that would anyway release CO2 or methane, it explained.
Liquefied biogas is therefore a sustainable and renewable product that does not add any new CO2 into the atmosphere, it could even capture more than it emits (net negative).
Powerzeek noted that as a marine fuel, LBG is interchangeable with liquefied natural gas (LNG). Both LBG and LNG consist mainly of methane (CH4), and has the same cryogenic temperature in its liquid form. This means that equipment that stores, transports and uses LNG can also be used for LBG.
“It is with great pleasure we add LBG as a renewable energy to our platform,” said Dag Lilletvedt, CEO of Powerzeek.
“Ten years ago I had the pleasure to set up a supply chain of LBG between the UK and Sweden, which enabled a landfill gas producer in London to sell their biogas to a transport company in Stockholm.
“When we now add LBG to our online platform, we are making it easier for these types of market players to meet and agree on the trade of this renewable energy”.
Photo credit: Powerzeek
Published: 11 September, 2020
Contracts expected to list on 22 June; INE is holding a two-day webinar in English and Chinese to address contract specifications for market participants.
The Sustainability Whitepaper: Biofuels as Marine Fuel gives an overview of the various types of marine liquid biofuels that are “drop-in” fuel options.
Establishes special working group with Zhejiang Pilot Free Trade Zone to explore initiative to start bunkering firm.
Bunker prices continuing to increase since fourth quarter of 2017, even though freight rates are recovering.
To consolidate foothold on the shipping business in Nigeria and boost profitability, says spokeswoman.
CIMB is looking to recover USD 105 million that it has lent to the company and Hontop owes approximately USD 470 million to seven creditors, reports Reuters
KPI OC seeking to recover debt of USD 805,602.15 over five bunker deliveries, not including accrued interest of about USD 363,000 since 15 September, showed court documents obtained by Manifold Times.
Discussions around the need to develop methanol bunkering operations are taking place at numerous ports ahead of estimated demand of above 7M mtpa by 2030, says Chris Chatterton of Methanol Institute.
‘Economics of the shipping market will be the key driver enabling methanol to be adopted at a higher pace going forth over next couple years as market begins to return to more normal rates,’ states COO.
Integr8 Fuel injunction varied by Singapore Court to allow former employees to start work at Hartree Group in December 2022 following failure to produce evidence on biofuels development plans.
Variability of sources can affect the stability and performance of biofuel bunkers produced from these feedstocks, in turn leading to difficulties in meeting regulations and industry standards, shares Bryan Quek.
Top three positive movers in 2022 were Bunker House Petroleum Pte Ltd (+7), Eastpoint International Marketing Pte Ltd (+5), and Eng Hua Company (Pte) Ltd (+6); newcomer Sinopec Fuel Oil (Singapore) gets 19th spot.
