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Vitol targets Singapore for Asia biofuel growth with bunker barges arrival in 2024

From early next year, Vitol through subsidiaries V-Bunkers and Vitol Bunkers will be able to offer a range of biofuel bunker blends, from B24, B30 and even up to B100 if customers request it.

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Energy trader Vitol on Tuesday (24 October) said it is strengthening its position in Asia’s expanding biofuel market, with the delivery of specialised bunker barges to Singapore in 2024.

From early next year, Vitol through its wholly-owned subsidiaries V-Bunkers and Vitol Bunkers will be able to offer a range of biofuel blends, from B24, B30 and even up to B100 if customers request it.

Currently, all vessels delivering bunker fuel in Singapore are oil tankers. These are permitted to only supply a fuel blended with biofuel up to 25% concentration. Any greater and IMO regulations stipulate a ‘IMO Type 2 chemical tanker’ ship is required.

The first IMO-Type 2 barge ordered by V-Bunkers will be delivered in January, to be followed by several more throughout 2024. Depending on demand, these vessels could also be upgraded to supply methanol.

“Bio and e-methanol are also significant pathways for the industry to achieve decarbonisation and there have been a number of specialist dual-fuel methanol powered vessels on order for delivery starting from next year,” Vitol said in a statement.

Though at a nascent stage, demand for biofuel is expected to grow significantly in the coming years, as the shipping industry looks at ways to decarbonise and curb emissions.

“The delivery of specialist barges is an exciting development for Vitol and its sustainability offerings in Asia,” said Mike Muller, Head of Vitol Asia.

“As the shipping industry steps up its pursuit of decarbonisation solutions, barges that can deliver bunker fuel with a much higher concentration of biofuels represents a material step in the right direction.”

Biofuels, which can be in the form of methane, methanol or fuel oil / gas oil blends, are seen as a convenient way for shipping companies to reduce their carbon emissions due to their ability to be used as a ‘drop-in fuel’.

It is this flexibility that lends itself to the shipping industry. In Singapore, volumes of B24 biofuel have increased, with sales of more than 50kt in August, according to the Maritime and Port Authority of Singapore (MPA). And year-to-date sales are already more than double those in 2022.

“This trend is expected to continue into 2024, particularly with the International Maritime Organisation’s (IMO) interim guidelines on biofuels becoming effective from 1st October 2023. These stipulate that certified biofuel will be able to reduce a vessel’s Carbon Intensity Indicator (CII) due to its near zero carbon factor on a well-to-wake (WTW) basis,” Vitol added.

Photo credit: Vitol
Published: 24 October, 2023

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Biofuel

Singapore: Kenoil enters milestone with STS bunker delivery of ISCC certified bio-blended LSMGO 

Biofuel blended parcel also marked Kenoil’s first sale as an ISCC-certified marine fuel supplier to a prominent energy trader, which was subsequently delivered to a cruise ship in Singapore.

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296Singapore: Kenoil enters milestone with STS bunker delivery of ISCC certified bio-blended LSMGO

ISCC-certified  marine fuel supplier Kenoil Marine Services (Kenoil) on Friday (1 December) said it has successfully carried out the inaugural ship-to-ship bunker delivery of biofuel-blended low sulphur marine gas oil in Singapore.

The sustainable biofuel blend used in this milestone bunkering operation was a B24 composite blend of low sulphur marine gas oil and UCOME (Used Cooking Oil Methyl Ester). 

The 200 metric tonnes (mt) parcel was loaded onto Kosmos Lily, a bunker tanker operated by Kenoil, at Jurong Port via ISO road tankers. 

This biofuel blended parcel also marked Kenoil’s first sale as an ISCC-certified marine fuel supplier to a prominent energy trader, which was subsequently delivered to a cruise ship in Singapore.

Desmond Chong, Managing Director, Kenoil Marine Services, said: “We are thrilled to play an integral role in the biofuel bunker supply chain alongside forerunners in sustainable fuels. As an established bunker tanker operator and supplier, Kenoil stays abreast of emerging developments in marine fuels by collaborating with like-minded partners to provide tangible solutions to the shipping industry to meet IMO’s carbon emissions targets.” 

The growing momentum towards biofuels is attributed to the readily available supply, existing infrastructure and mature technology. Biofuels not only meet sulphur compliance regulations, they also present an opportunity for vessels to reduce their CO2 emissions. 

Chong emphasised Kenoil’s steadfast commitment to green shipping through active participation in various ongoing initiatives. 

“Our objective is to actively contribute to the bunker supply chain, with a dedicated focus on sustainable fuels, and play a part in the advancement of Singapore as a multi-fuel bunkering hub,” he said.

Related: Kenoil Marine Services to conduct first-ever bunkering of bio-blended LSMGO in Singapore

Photo credit: Kenoil Marine Services 
Published: 1 December, 2023

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Winding up

High Court of Singapore issues winding up order to Millennium Oil

Toyota Tsusho Petroleum filed a winding up application against its former main barge operator Millennium Oil; several liquidators have been appointed to administer all affairs of Millennium Oil.

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RESIZED Sora Shimazaki on Pexels

The High Court of Singapore on Thursday (16 November) issued a winding up order to Millennium Oil Pte Ltd, according to a 30 November notice on the Government Gazette.

The winding up application was filed by Toyota Tsusho Petroleum Pte Ltd, previously a licensed bunker supplier operating at the Port of Singapore, against its former main barge operator. The application was scheduled to be heard at the High Court of Singapore on 15 September 2023.

The winding up order also included the following names and addresses of the liquidators:

Leow Quek Shiong, GaryLoh Weng Fatt and Seah Roh Lin, all c/o BDO Advisory Pte Ltd, 
600 NorthBridge Road
#23-01 Parkview Square Singapore 188778.

All creditors of Millennium Oil should file their proof of debt with the liquidators who will be administering all affairs of the company.

Manifold Times previously reported Toyota Tsusho Petroleum organising a winding up application against Millennium Oil.

The Maritime and Port Authority of Singapore (MPA) recently removed Toyota Tsusho Petroleum from its list of licensed bunker suppliers in the republic.

Manifold Times also reported Tokyo-based Toyota Tsuho Corporation deciding to cease the business operation of its subsidiary Toyota Tsusho Petroleum.

Related: Singapore: Bunker supplier Toyota Tsusho Petroleum applies to wind up former barge operator Millennium Oil
Related: Toyota Tsusho Petroleum removed from licensed bunker suppliers list in Port of Singapore
Related: Singapore: Toyota Tsusho Petroleum ceases operations, new firm established

Photo credit: Sora Shimazaki on Pexels
Published: 1 December, 2023

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Alternative Fuels

MPA and IACS ink LOI to collaborate on maritime digitalisation and decarbonisation initiatives

LOI will focus on key areas such as marine electrification, the use of zero- and low-carbon bunker fuels onboard vessels, smart and autonomous ships, and digitalisation and cybersecurity.

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MPA and IACS ink LOI to collaborate on maritime digitalisation and decarbonisation initiatives

The Maritime and Port Authority of Singapore (MPA) and the International Association of Classification Societies (IACS) on Thursday (30 November) said they have signed a Letter of Intent (LOI) to collaborate on various maritime digitalisation and decarbonisation initiatives.

The LOI was signed by Mr Teo Eng Dih, Chief Executive of MPA and Mr Nick Brown, Council Chairman of IACS, at the sidelines of the 33rd session of the International Maritime Organization (IMO) Assembly (A33) in London today.

Under the LOI, both parties will consider the development of technical standards and unified requirements to ensure that new maritime solutions are safely implemented.

The LOI will focus on key areas such as smart and autonomous ships, digitalisation and cybersecurity, marine electrification, and the use of zero- and low-carbon bunker fuels onboard vessels.

As part of the collaboration, both parties will have regular information and knowledge exchange, including discussions on industry challenges and opportunities, standards, best practices, and emerging technologies.

Mr Teo Eng Dih, Chief Executive, MPA, said, “As we advance and accelerate the development of new technologies and solutions which benefit the global maritime community, it is important for harmonised standards to be adopted to ensure that these solutions can be implemented safely. We look forward to contributing and working closely with IACS to shape and develop standards that can help to ensure the safety of seafarers and protection of the marine environment.”

Nick Brown, IACS Chair, said: “This novel arrangement with the Singapore MPA will assist IACS’ efforts to keep safety at the forefront of the decarbonisation agenda by facilitating access to the data and expertise of one of shipping’s key bunkering and global hub ports.”

“By looking at the entire future fuel supply chain, IACS will be better able to address all the risk and mitigation measures that will need to be implemented onboard vessels and so ensure that safety considerations are front and centre when evaluating the prioritisation and deployment of the new fuels and technologies necessary to support the industry’s transition to a decarbonised future.”

Photo credit: Maritime and Port Authority of Singapore
Published: 1 December, 2023

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