World News
G2 Ocean Introduces Biofuel Book-and-Claim Service
Maritime transportation firm G2 Ocean has launched an emission reduction certificate (ERC) service that allows customers to buy verified emissions reductions generated through the company's use of biofuels.
The service uses a book-and-claim model, meaning customers can claim emissions reductions without their cargo being carried on a biofuel-powered voyage, the firm said in a statement on its website on Wednesday.
It is available to companies looking to reduce their scope 3 transport emissions.
According to G2 Ocean, revenue from certificate sales will be reinvested in additional biofuel voyages, helping create a cost-sharing model for biofuels and narrowing the price gap with conventional marine fuels.
The company said the initiative is intended to help businesses decarbonise their supply chains while supporting wider adoption of lower-emission fuels in shipping.
"With our new service, Emission Reduction Certificates, customers can take immediate action to reduce their transport emissions while supporting the increased use of lower-emission fuels," Arthur English, CEO of G2 Ocean, said.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 854.00 | 11.50 | 1278.50 | 11.00 |
| Rotterdam | 681.00 | 5.50 | 1400.00 | 10.00 |
| Houston | 725.50 | 15.00 | 1364.50 | 23.50 |
| Fujairah | 944.50 | 19.00 | 1675.50 | 9.00 |
| Global 20 Ports Average | 860.50 | 15.50 | 1522.00 | 1.50 |
| Global 4 Ports Average | 801.00 | 13.00 | 1429.50 | 4.00 |
| Global Average Bunker Price | 922.00 | 13.00 | 1596.50 | 2.50 |
Popular Now More
-
Sep 29Shipergy brand and traders to stay within the enlarged group, while co-founder Daniel Rose leaves trading. -
Sep 30An LNG tanker and two other tankers were reportedly struck by unknown projectiles in the Strait of Hormuz. -
Sep 28Fuelsure data shared with Ship & Bunker puts a number on what happens after the deal is fixed, port by port and supplier by supplier.