World News
Eagle Bulk Joins Growing List of Biofuel Bunker Trials
Dry bulk owner-operator Eagle Bulk Shipping is the latest to join the growing list of shipping companies to trial biofuel bunkers.
The trial was completed using the 63,529 DWT bulk carrier Sydney Eagle which was bunkered with GoodFuels’ biofuel during its call at Terneuzen, the Netherlands.
As the industry looks to decarbonize, biofuels have proven a popular choice with companies as they fuels enable a 80-90% well-to-exhaust CO2 reduction and are classed as "drop in" fuels, meaning no changes to the vessel or its fuel system are required in order to be used.
Stena Bulk, Ocean Network Express (ONE) and Klaveness Combination Carriers are among the raft of other firms to trial biofuels this year.
The down side is that biofuels can be considerably more expensive than traditional oil-based fuels, although speaking to Ship & Bunker earlier this year, Goodfuels said they had become a "commercially and technically viable" alternative to fossil bunkers.
“This announcement is the latest step in scaling our low-carbon biofuels for wider commercial use within the maritime industry. With our ambition to become the principal sustainable fuel supplier for the global transport industry, and our offer of mature 100% biofuels, GoodFuels is perfectly positioned to facilitate the energy transition for owners and operators," said Isabel Welten, Chief Commercial Officer at GoodFuels, following the latest trial with Eagle Bulk.
“We hope more organisations will follow Eagle Bulk Shipping’s footsteps in embracing our credible near-zero carbon alternative to fossil fuels, as the industry steps up its efforts to meet its environmental regulatory targets in the near future.”
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 647.50 | 1.00 | 770.00 | 3.50 |
| Rotterdam | 601.50 | 2.50 | 754.00 | 2.00 |
| Houston | 619.00 | 11.50 | 795.50 | 3.00 |
| Fujairah | 651.50 | 1.00 | 895.00 | 2.00 |
| Global 20 Ports Average | 664.00 | 1.50 | 856.50 | 2.00 |
| Global 4 Ports Average | 630.00 | 3.00 | 803.50 | 2.50 |
| Global Average Bunker Price | 718.00 | 0.50 | 914.50 | 0.50 |
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