Vitol Bunkers, a wholly-owned bunker arm of energy and commodities company Vitol, has taken delivery of its first specialized biofuel bunker barge, Marine Future, in Singapore, bolstering its position in Asia’s biofuel bunker market.
Built in China, the vessel is 102.6 meters long and can carry about 7,000 MT of biofuels.
The addition of this specialized IMO type 2 notation bunker tanker to the V-Bunkers fleet will uniquely make it possible to supply biofuel blends including B24, B30, and up to B100, depending on customer specifications, Vitol said.
The delivery, which was announced on February 22, 2024, is in line with Vitol’s plans to expand the supply of biofuels in Asia with the delivery of specialized bunker barges in Singapore. Several more bunker barges are expected to be delivered throughout 2024. Depending on demand, these vessels could also be upgraded to supply methanol.
The current fleet of bunker tankers in Singapore is classified as ‘oil tankers’ and is therefore restricted to a maximum of 25% bio component in biofuel blends. This new bunker tanker has no such restriction, hence can deliver bunker fuels consisting of 100% bio component (B100), the company explained.
Biofuels are seen as a key pathway for the hard-to-abate shipping sector to mitigate emissions. Biofuel sales in Singapore reached 520,000 tonnes in 2023 according to the Maritime and Port Authority of Singapore (MPA), representing a material increase on the prior year when volumes were 140,000 tonnes.
“We are delighted to now be able to offer our maritime customers the option to take up to 100% bio component bunker fuel here in Singapore and play our part in advancing the port’s decarbonisation efforts. Should there be demand, this vessel can also be re-configured in future to supply methanol,” said Mike Muller , Head of Vitol Asia.