Biofuel sales more than tripled last year in Singapore, the world’s dominant bunkering hub, with more than 500,000 tonnes sold.
Analysts at shipbroker Eastport Maritime expect biofuel sales to double in Singapore through 2025.
Singapore is by a considerable distance the world’s largest bunkering hub, selling more than three times as much fuel overall than its nearest rival.
Currently, all vessels delivering bunker fuel in Singapore are oil tankers. These are permitted to only supply a fuel blended with biofuel up to 25% concentration. Any greater and IMO regulations stipulate an IMO Type 2 chemical tanker ship is required.
This situation is about to change with Vitol taking delivery of specialised bunker barges in Singapore which will offer a range of biofuel blends, from B24, B30 and even up to B100 if customers request it.
The International Maritime Organisation’s (IMO) interim guidelines on biofuels became effective from the start of last October. These stipulate that certified biofuel will be able to reduce a vessel’s Carbon Intensity Indicator (CII) due to its near-zero carbon factor on a well-to-wake basis.
