World News
Shipping Firm Østensjø Rederi to Offer Carbon Offsets Related to Biofuel Use
Shipping firm Østensjø Rederi plans to offer all of its customers a reduced-carbon service related to the use of biofuel bunkers in its fleet.
The firm has loaded 50,000 litres of HVO on board its tug the Vivax, and will offer the emission savings from using this fuel to customers using the services of any vessel in its fleet, it said in a statement on its website last week.
"To make this work in practice, the biofuel will be utilized on our tugboat, Vivax, zeroing out and replacing the equivalent amount of regular fuel on the chartered vessel in question," the company said in the statement.
"The client will get a signed statement from Østensjø Rederi as evidence that the operation/cargo run/time frame etc, have been carried out with a zero-emission footprint."
Demand for biofuel bunker blends is increasing as shipowners take them on as a drop-in replacement for conventional fuels with a lower carbon footprint, allowing them to reduce GHG emissions without investing in new ships capable of running on other alternative fuels.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 602.50 | 13.50 | 676.00 | 10.00 |
| Rotterdam | 540.50 | 6.50 | 665.50 | 18.00 |
| Houston | 552.50 | 21.50 | 685.50 | 25.00 |
| Fujairah | 592.50 | 17.50 | 783.00 | 10.00 |
| Global 20 Ports Average | 615.00 | 12.00 | 757.00 | 15.00 |
| Global 4 Ports Average | 572.00 | 14.50 | 702.50 | 16.00 |
| Global Average Bunker Price | 653.00 | 9.50 | 824.50 | 9.50 |
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Oct 02The new hire was previously managing director of bunker trading firm Sing Fuels from March 2018 to this month. -
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Oct 02The new hire was previously a bunker trader for marine fuel trading firm Pacific Bunkers in Singapore from July 2012 to last month.