According to a senior VPS executive, major shipping companies, especially container lines, and important bunker hubs like Singapore are embracing biofuel bunkers. This adoption is also evident in the rise in the number of marine biofuel samples that are inspected by Veritas Petroleum Services.
Increased popularity of biofuel
Biofuels are increasingly being used in marine fuels to reduce greenhouse gas emissions. Singapore reported more bio-blended bunker fuel sales than LNG in 2022, and the trend is expected to continue in 2023 due to the increasing popularity of biofuels. VPS, a global marine fuel testing and advisory services provider, has seen a 14-fold increase in its testing work with biofuels from 2020 to 2022, and major ship owners have completed their trials. S&P Global expects biofuels consumption to reach 10.5 million mt in 2050 in its higher intake case.
Biofuel bunkers
The Singapore Shipping Association released an FAQ on biofuel bunkers for ocean-going vessels last year to prepare for the increasing use of biofuels. VPS, which provides marine fuel testing and advisory services, has been working closely with the Global Centre for Maritime Decarbonisation (GCMD) to ensure the quality and supply chain integrity of biofuels. The project involved securing Neat biofuel from China, blending it in Singapore, and assessing the characteristics and stability of the blend. Rahul Choudhuri, VPS Managing Director for Asia, Middle East & Africa, is currently the vice-chairman of the Singapore Shipping Association’s Marine Fuels Committee.
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Source: Hellenic Shipping
