Vitol Delivered More than a Third of Singapore's Biofuel Blends Last Year

by Ship & Bunker News Team
Thursday February 1, 2024

Vitol Bunkers and its logistics arm V-Bunkers delivered more than a third of the biofuel bunker blends sold in Singapore last year.

V-Bunkers delivered a total of about 190,000 mt of the blends in 2023, or almost 36% of the city-state's total, the company said in an emailed statement on Thursday.

At SIBCON in October 2022 the company said it had delivered about 70,000 mt of biofuel blends in the year to date at that point, or about half of Singapore's total. The firm first announced it was selling biofuels in Singapore in March 2022.

Vitol was also the supplier behind the first biofuel bunker stems in Fujairah late last year.

The firm delivered more than 7 million mt of bunker fuels overall in 2023. Vitol Bunkers was Singapore's fifth-largest supplier by volume last year.

Demand for biofuel bunker blends is increasing as shipowners take them on as a drop-in replacement for conventional fuels with a lower carbon footprint, allowing them to reduce GHG emissions without investing in new ships capable of running on other alternative fuels.