In a significant move towards sustainability in the maritime industry, Vitol Bunkers has announced the acquisition of its first specialized biofuel bunker barge in Singapore. Named the “Marine Future,” this vessel marks a milestone in Vitol Bunkers’ commitment to the expanding biofuel bunker market in Asia.
The Marine Future, constructed in China, boasts a length of 102.6 meters and a capacity of approximately 7,000 metric tons of biofuels. What sets it apart is its ability to carry various biofuel blends, including B24, B30, and up to B100, catering to diverse customer specifications.
Unlike conventional bunker tankers classified as ‘oil tankers,’ which are limited to a maximum of 25% bio component in biofuel blends, the Marine Future faces no such restriction. This means it can deliver bunker fuels consisting of up to 100% bio component (B100), offering a greener alternative to traditional marine fuels.
Biofuels have emerged as a crucial avenue for the shipping sector to address emissions, especially in light of increasingly stringent environmental regulations. According to the Maritime and Port Authority of Singapore (MPA), biofuel sales in Singapore surged to 520,000 tonnes in 2023, signifying a substantial rise from the previous year’s volume of 140,000 tonnes.
Mike Muller, Head of Vitol Asia, expressed enthusiasm about the introduction of the Marine Future, stating, “We are delighted to now be able to offer our maritime customers the option to take up to 100% bio component bunker fuel here in Singapore and play our part in advancing the port’s decarbonization efforts. Should there be demand, this vessel can also be re-configured in future to supply methanol.”
Vitol Bunkers, a subsidiary specializing in energy solutions for the maritime sector, leverages Vitol’s extensive experience in global bunkering markets to supply bunker fuels to ship and fleet owners worldwide. With a fleet of over 20 bunker barges, V-Bunkers, the Singapore-based operator, stands as a key player in the industry.
This introduction of the Marine Future underscores Vitol Bunkers’ commitment to sustainable practices and its contribution to the ongoing efforts to reduce carbon emissions in the maritime sector. As the industry continues to evolve, initiatives like these are pivotal in driving positive change and fostering a more environmentally conscious approach to maritime operations.
About Vitol
Vitol stands as a trailblazer in the energy sector, boasting a comprehensive presence across the entire energy spectrum, ranging from oil and power to renewables and carbon credits. Leveraging our expertise, we play a vital role in the global distribution of energy. Our operations involve sourcing from producers, refiners, and intermediaries, and efficiently delivering to refineries, utilities, airlines, retail distribution networks, wholesalers, and other trading partners. A key facet of our role involves managing the inherent physical risks associated with the intricate process of moving energy.
Our global footprint is evident in our daily trade of over 7 million barrels of crude oil and products, coupled with the chartering of approximately 6,200 ship voyages annually. With a presence in more than 40 offices worldwide, Vitol actively seeks to add value across the entire energy supply chain.
Source Vitol