Posted on August 17, 2022
As further evidence of the growth of biofuels globally, GoodFuels in partnership with ITOCHU reports they have launched operations in Singapore just three months after forming a partnership to service the market. While there had been previous tests of biofuel in Singapore, the companies attest that this is the start of the regular supply of biofuel in what is the world’s largest bunker market. GoodFuels has historically operated from Rotterdam, another large bunker market.
The delivery, which was the first to be managed under GoodFuels’ partnership with ITOCHU and the company’s first in Asia, was a blended drop-in with VLSFO. The fuel was loaded aboard a 12-year-old, 179,376 dwt bulker, the Frontier Explorer during its port call on July 5 while it was sailing from Australia to India.
“It’s important to underline just how significant this first refueling with NYK is for GoodFuels’ presence in Asia,” said Jing Xieng JX Han, General Manager, GoodFuels Asia Pacific. “Just a few months after commencing operations in Singapore, and hot on the heels of our recent agreement with ITOCHU, we are proving to the market that we are ready to supply our sustainable biofuels solutions to meet growing demand in the region.”
GoodFuels recently created the biofuel supply chain in Singapore, positioning the company to supply its clients in multiple locations and accept more orders for sustainable marine biofuel in the future. The biofuel is made entirely from waste or residues that cannot be used for food and feed, and the biofuels gain International Sustainability & Carbon Certification.
“We anticipate that demand for sustainable marine biofuels will continue to grow in Asia, particularly as the global efforts to decarbonize shipping intensify,” said GoodFuels. “We will work hard to source new sustainable feedstocks and ramp up our sources of supply in Asia.”
The first bunkering in Singapore also marks an expansion of a long-term relationship with NYK. The Japanese shipping company has been using biofuels from GoodFuel since January 2019 in Rotterdam.
ITOCHU was responsible for logistics, blending, and distribution of the biofuel blend, while GoodFuels handled sourcing, technical expertise, and sales, including working closely with NYK’s technical and commercial team. GoodFuels also worked with a licensed bunker supplier in Singapore to carry out the bunkering.