World News
Euronav Sees Biofuels as 'Critical Bridge to Decarbonization'
Tanker company Euronav now sees biofuels as a 'critical bridge to decarbonisation' following a successful trial of a blend on board one of its vessels.
The company tested 360 mt of biofuel bunkers on board its Suezmax tanker the Statia over a two-week period last month, it said in a statement on its website last week. It took on a total of 1,502 mt of the fuel -- a blend of 30% biofuel and 70% VLSFO, supplied by BP -- having bunkered it at Rotterdam.
The trial showed 'no significant difference in operations or any malfunctions that could lead to a breakdown', according to the statement.
The ship is continuing to use the remainder of the fuel on its way to Brazil, the company said.
"It is important for us to understand how to handle biofuels on our vessels, to test their longevity and stability, and how they behave when used in engines, generators and alike," Rustin Edwards, head of fuel oil at Euronav, said in the statement.
"The migration into using biofuels is a critical step on the road to reducing emissions, as the use of biofuel will reduce our overall impact on the environment with little additional investment.
"The use of biofuel blends will be a critical bridge to decarbonization until the development and commercial availability of zero emissions fuels.
"As we continue this journey toward decarbonization, we will keep on adjusting our operations and our fuel procurement strategies as needed."
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 570.00 | 1.00 | 683.00 | 2.50 |
| Rotterdam | 515.50 | 1.00 | 685.00 | 7.50 |
| Houston | 555.00 | 1.00 | 678.00 | 1.00 |
| Fujairah | 563.00 | 2.00 | 754.50 | 0.50 |
| Global 20 Ports Average | 587.50 | 1.50 | 765.00 | 0.50 |
| Global 4 Ports Average | 551.00 | 1.00 | 700.00 | 1.00 |
| Global Average Bunker Price | 634.50 | 1.00 | 812.50 | 1.00 |
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