EMEA News
Axiom Global Reports its First Biofuel Bunker Supply
Dubai-based Axiom Global Oil and Gas Trading DMCC is the latest firm to report the completion of its first biofuel bunker stem.
The supply operation took place on January 9 at Khor Fakkan anchorage and saw the bulk carrier MV GCL Narmada lift 200 mt of a 24% biofuel / VLSFO blend (B24).
The VLSFO was blended with certified biofuel obtained from local sources, Axiom Global Oil and Gas Trading's Rohit Singh told Ship & Bunker.
The physical supply was handled by sister company SPR Global Trading DMCC.
"The utilization of certified biofuels holds significant promise in addressing the challenge of decarbonizing the hard-to-abate maritime industry," Singh said.
"This achievement marks a pivotal moment for Axiom, SPR and its partners in advancing sustainable practices within the oil and gas industry, contributing to a greener and more resilient future."
Interest in biofuel bunkers has risen substantially over the last year and the marine shipping industry looks to reduce its emissions footprint.
Biofuels are one of the few immediate options for existing conventionally-powered tonnage to cut their GHGs.
This year's introduction of EU-ETS rules for shipping, which means vessels operating in EU waters now have to pay for their emissions, are expected to further boost the interest in biofuel bunkers.
"Biofuels contribute to reducing greenhouse gas (GHG) emissions on a well-to-wake basis, playing a crucial role in achieving sustainability targets," Singh added.
"It is anticipated that such biofuel blends can actively decrease a vessel's Carbon Intensity Indicator (CII), serving as a crucial step toward a more environmentally conscious shipping industry."
