World News
Bunker Holding Launches US and EU Biofuels Strategic Partnership
Marine fuels conglomerate Bunker Holding has entered into a strategic partnerships to develop the use of biofuels in the marine energy mix.
The firm has launched a partnership with Renewable Energy Group to advance the use of sustainable biodiesel in the US and EU bunker markets, it said in an emailed statement on Friday.
The two firms will initially focus on the North American and European markets where trials of B20 and B30 bunker fuels are already in progress.
"As conventional fossil fuel continues to power most of the world's marine fleet, we are thrilled to engage in this collaboration with REG," Christoffer Berg Lassen, chief commercial officer of Bunker Holding, said in the statement.
"It not only further strengthens our supply chain of alternative fuel, but also deepens our know-how and insight of biofuels.
"Engaging in partnerships with actors from value chains outside our normal boundaries is a cornerstone of our decarbonization strategy.
"The energy transition in shipping cannot be solved individually, and we acknowledge the importance of working closely together with partners, such as REG, who bring great expertise and complements our core capabilities within bunkering."
Bunker Holding unit Bunker One is already supplying biofuels in Northern Europe with its barge the Amak Swan.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 565.50 | 6.00 | 661.50 | 4.00 |
| Rotterdam | 510.00 | 2.00 | 661.00 | 2.00 |
| Houston | 548.00 | 2.50 | 666.50 | 0.50 |
| Fujairah | 555.50 | 5.00 | 746.00 | 2.50 |
| Global 20 Ports Average | 582.50 | 1.50 | 753.00 | 1.50 |
| Global 4 Ports Average | 544.50 | 3.00 | 683.50 | 1.00 |
| Global Average Bunker Price | 631.00 | 2.50 | 803.50 | 2.00 |
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