World News
Brazilian Firms Petrobras and Vale Trial Biofuel in Singapore
Brazilian energy firm Petrobras delivered a B24 marine biofuel blend to a bulk carrier chartered by mining firm Vale in Singapore on Tuesday.
The fuel was supplied to the Luise Oldendorff, operated by shipping firm Oldendorff Carriers, as part of a biofuel testing initiative, Vale said in a statement on Thursday.
The B24 blend consisted of 76% conventional marine fuel, produced at Petrobras' refineries, and 24% locally sourced used cooking oil methyl ester (UCOME).
Petrobras is looking to ramp up biofuel bunker supply.
The company made its first B24 sale in Singapore in February, marking its entry into the Asian biofuel bunker market.
Tests with biofuel blends on Vale-chartered ships are part of the company's efforts to cut its Scope 1 and 2 emissions by 33% by 2030.
"Our shipping area has evaluated several scenarios to reduce GHG emissions in maritime transport, which includes the development of multi-fuel solutions for new and existing ships that transport our products globally, Gustavo Pimenta, CEO of Vale, said.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 502.00 | 4.50 | 617.00 | 5.50 |
| Rotterdam | 457.50 | 2.50 | 623.50 | 6.50 |
| Houston | 469.00 | 3.50 | 623.00 | 2.00 |
| Fujairah | 494.50 | 6.50 | 715.50 | 5.50 |
| Global 20 Ports Average | 526.00 | 3.00 | 712.50 | 11.50 |
| Global 4 Ports Average | 481.00 | 4.00 | 645.00 | 4.50 |
| Global Average Bunker Price | 569.00 | 2.00 | 750.00 | 5.50 |
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