Furetank has announced a major agreement for mass-balanced biomethane, which will allow for a swift transition to renewable operations for its EU-based fleet. This move is complemented by the launch of a new subsidiary aimed at assisting other companies with compliance under the new FuelEU Maritime regulation.
Transition to Renewable Operations
Furetank has signed a significant deal to secure a supply of mass-balanced liquefied biomethane (LBM) for its entire fleet of Vinga vessels operating in the EU throughout 2025. This biomethane, produced from waste by agricultural group Cargill and then liquefied by Titan Clean Fuels, is expected to reduce greenhouse gas emissions by 150-200% on a well-to-wake basis. The company views this as the culmination of efforts that began in 2015 when it first converted a vessel to gas propulsion, noting that new regulations have created the necessary incentives to make this transition a reality.
Launch of a New Subsidiary, CO2mpliance
In parallel with its fuel transition, Furetank has established a new subsidiary called CO2mpliance. This company is designed to help other shipping firms comply with the FuelEU Maritime regulation, which came into force on January 1, 2025. The regulation requires commercial vessels in the EU to gradually reduce their GHG emissions, with a target of an 80% reduction by 2050.
CO2mpliance will facilitate the trading of surplus emission reductions, a feature of the FuelEU Maritime regulation. This allows companies that exceed the emission reduction targets to sell their excess credits to those who are struggling to meet the requirements, turning Furetank’s proactive investments into a new business opportunity while helping to accelerate the industry’s overall transition to more sustainable practices.
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Source: Offshore Energy
