The bio-fuel oil product offered by bunker supplier GoodFuels as an alternative fuel for shipping may cost as little as $490.40/mt.
The fuel costs around a third as much as bio-jet fuel, Dirk Kronemeijer, CEO of GoodFuels, told the Centre for Management Technology alternative fuels webinar on Tuesday.
S&P Global Platts launched a sustainable aviation fuel price assessment in August. The price reporting agency set the cargo assessment at $1,471/mt in Northwest Europe on Monday, a company representative told Ship & Bunker.
A third of that price would come to about $490.40/mt for the bio-fuel oil. That compares to a price of $305.50/mt for very low sulfur fuel oil delivered at Rotterdam on Monday, according to Ship & Bunker pricing.