World News
KPI OceanConnect's AuctionConnect Platform Adds Biofuels Functionality
AuctionConnect, the bunker procurement platform developed by marine fuels firm KPI OceanConnect, has added the ability to cover the market for biofuel blends.
The platform hosted its first biofuel auction in Singapore in August, with 900 mt of a B26 blend sold, it said in a statement on its website this week.
"The addition of biofuels to our auction platform is a significant milestone for AuctionConnect and the entire shipping industry," Per Funch-Nielsen, director of AuctionConnect, said in the statement.
"As sustainability becomes an increasingly integral part of the global agenda, it is our responsibility to provide the tools and opportunities for stakeholders to embrace cleaner energy sources.
"We are proud to be leading the way towards a greener future for shipping."
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 | 623.50 | 0.00 | 723.50 | 3.00 |
| Rotterdam | 568.00 | 2.00 | 741.50 | 4.50 |
| Houston | 595.50 | 10.50 | 765.50 | 15.50 |
| Fujairah | 628.50 | 0.50 | 874.50 | 6.50 |
| Global 20 Ports Average | 637.00 | 1.00 | 816.00 | 0.50 |
| Global 4 Ports Average | 604.00 | 3.50 | 776.50 | 3.00 |
| Global Average Bunker Price | 690.50 | 0.50 | 878.00 | 1.50 |
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