World News
Island Oil Releases First ESG Report
Marine fuels firm Island Oil has released its inaugural ESG report.
The company's first ESG report covers data from the years 2021-2023.
The company's Scope 1 emissions rose by 10% on the year to 16,658.15 mtCO2e in 2023, after adding a vessel to its fleet, while Scope 2 emissions dropped by 18.2% to 100.95 mtCO2e.
"By monitoring and addressing both Scope 1 and Scope 2 emissions, the Group aims to comprehensively manage its carbon impact, and to reduce its environmental footprint," the company said in the report.
"In response, the Group has already in place an environmental program aligned with the principles of the Group's ISO 14001 Certification.
"This proactive program strategically integrates specific objectives aimed at minimizing the environmental impact of operations, focusing particularly on reducing air emissions caused by these activities."
The company plans to add Scope 3 emissions -- which would cover the emissions generated by the fuel it sells -- to its reporting in its next ESG report.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 582.00 | 7.50 | 654.50 | 9.00 |
| Rotterdam | 512.50 | 6.00 | 651.50 | 0.50 |
| Houston | 527.00 | 3.00 | 648.50 | 1.00 |
| Fujairah | 566.50 | 2.50 | 753.00 | 3.50 |
| Global 20 Ports Average | 589.50 | 5.00 | 738.00 | 3.50 |
| Global 4 Ports Average | 547.00 | 2.00 | 677.00 | 3.50 |
| Global Average Bunker Price | 637.50 | 2.50 | 799.50 | 1.50 |
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