World News
GoodFuels Signs Long-Term Biofuel Supply Agreement
Biofuels firm GoodFuels has signed a new long-term supply agreement for products to be sold to the shipping industry.
The company has signed a long-term deal for global producer Renewable Energy Group to supply it with biofuels, it said in a statement on its website on Tuesday.
"With REG's expertise in biofuels and GoodFuels' pioneering strengths, both companies are playing an important role in enabling the decarbonisation efforts for shipping companies," the company said.
"This announcement reinforces GoodFuels' mission to become the favoured green fuel supplier for all shipping segments, and ambition to scale up the production of advanced marine biofuels in the right way using sustainable feedstocks.
"For REG, the agreement is a clear signal of the company's mission to enable a cleaner world and reduce greenhouse gas emissions. REG biofuels are making a real impact in the market today by offering solutions for many transportation sectors, including marine."
GoodFuels has been involved in many of the biofuel trials being conducted in the shipping industry over the past two years.
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| VLSFO | MGO | |||
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| $/mt | +/- | $/mt | +/- | |
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| 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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