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Vitol Bunkers Launches Marine Fuel Carbon Offset Offering
Vitol Bunkers, the newly-established marine fuels brand of commodity trading firm Vitol, has started offering carbon offsets to its customers.
The company will offer Verified Emissions Reductions (VER) certificates to its marine fuel customers who want to offset the emissions resulting from their use of bunker fuel, it said in an emailed statement on Wednesday.
"The VERs will conform to the highest international standards and will be sourced from Vitol's existing portfolio and the wider market and emissions will be calculated using IMO and EU guidelines," the company said in the statement.
"Customers will be offered a range of offset solutions to enable them to align mitigation with their broader emissions reduction programme and a fully bespoke programme will be available for customers wishing to deploy this strategy at scale."
The use of carbon offsets will play an important part in enhancing shipping's environmental performance, Chris Young, global account manager for Vitol Bunkers, said in the statement.
"We are delighted to be able to combine our expertise in two core areas and launch this compelling offering."
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 647.00 | 8.50 | 779.00 | 29.50 |
| Rotterdam | 608.00 | 11.00 | 764.50 | 24.50 |
| Houston | 636.50 | 8.00 | 807.50 | 5.00 |
| Fujairah | 649.50 | 4.00 | 888.50 | 11.50 |
| Global 20 Ports Average | 665.50 | 6.50 | 870.50 | 14.50 |
| Global 4 Ports Average | 635.50 | 3.50 | 810.00 | 17.50 |
| Global Average Bunker Price | 725.00 | 2.50 | 925.50 | 8.00 |
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