Asia/Pacific News
Banle Energy Carries Out First Biofuel Bunker Supply in Hong Kong
Marine fuels firm Banle Energy has carried out its first delivery of a biofuel bunker blend in Hong Kong.
The firm recently delivered a B24 blend containing 24% biofuel to the tanker Pacific Joy at berth in Hong Kong, partnering with ASB Biodiesel and Seven Seas Oil, it said in a statement on its website on Friday.
Saybolt provided inspection and testing services monitoring the delivery.
"Our Company has taken the initiative to support our efforts towards the 2023 IMO Greenhouse Gas Strategy, which was adopted at the Marine Environment Protection Committee in early July," the company said in the statement.
"The Strategy sets ambitious targets for the shipping industry to reduce the total annual greenhouse gas emissions from international shipping by at least 20% and 70%, with a goal of achieving 30% and 80% by 2030 and 2040 respectively, compared to 2008 levels.
"In line with our direction focusing on ESG, we are committed to promote Biofuel, an ESG related product, in an effort to reduce GHG emissions."
Shipping companies are increasingly taking on biofuel bunker blends as a means of cutting net GHG emissions in the short term without needing to buy new green ships. Demand for these blends is likely to continue rising in the next few years, but supply constraints may become a problem after that, with several other industries also keen to take on biofuels.
