GoodFuels’ Asia-Pacific branch makes 1st delivery of marine biofuel to major client
GoodFuels announced Aug. 16 that it has successfully supplied sustainable marine biofuel to NYK’s bulk carrier MV Frontier Explorer, in the first such delivery to a major maritime client since the company opened its Singapore office.
MV Frontier Explorer was refueled with biofuel in a blend with very low sulfur fuel oil (VLSFO) during its port call to Singapore July 5, en route from Australia to India.
The delivery was the first to be managed under GoodFuels’ partnership with Itochu Corp., which was announced in May. 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 to carry out the bunkering.
The bunkering comes as a significant milestone for GoodFuels, with the organization quick off the mark in Asia Pacific to respond to growing demand for low-carbon marine fuels. It proves the resilience and robustness of GoodFuels’ recently created 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 near future.
It also marks the next evolution in GoodFuels’ growing relationship with NYK. GoodFuels first supplied an NYK-owned vessel with biofuel in January 2019 in Rotterdam.
“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 of 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. NYK is a valued and long-term partner for GoodFuels and today’s announcement once again underlines our ability to work quickly and flexibly with many parties to make sure a bio-bunkering happens, from sales through to supply. We anticipate that demand for sustainable marine biofuels will continue to grow in Asia, particularly as the global efforts to decarbonize shipping intensify. At GoodFuels, we are committed to playing a significant role in accelerating the energy transition in the transport sector. We will work hard to source new sustainable feedstocks and ramp up our sources of supply in Asia, ensuring that we build a robust and responsive organization that can enable shipowners to make a tangible and immediate impact on their emissions.”
Yusuke Niizuma, manager of the global mineral resources group at NYK Line, added, “We are excited to continue our collaboration with GoodFuels, following our mutual ambition to reduce greenhouse gases (GHG) emitted from ships by oceangoing shipping around the world. In March this year, NYK released the updated NYK Group ESG Story 2022. In the process of achieving the long-term target of net-zero emissions of GHG by 2050, continuously increasing biofuel usage within the group’s fleet is one of our ESG activities.”
GoodFuels’ partnership with Itochu, which saw the companies agree to cooperate on providing access to sustainable marine biofuels in all Singaporean territorial waters, waterways, and harbors, will also see both organizations work together to scale up supply of sustainable marine biofuel in Asia Pacific by identifying potential feedstocks.
“I am very pleased to see the supply of biofuel to NYK,” said Ted Tanaka, managing director of Itochu Petroleum Singapore, the flagship energy-trading arm of Itochu Corp. “This delivery demonstrates to our customers and the industry our ability to supply the biofuel in Singapore shortly after the formation of strategic partnership with GoodFuels. Together with GoodFuels, we will continue meeting our customers’ needs for low-carbon fuels.”
All the types of feedstocks that GoodFuels uses to produce its biofuels are assessed by an independent sustainability board to validate their sustainability credentials. To ensure that feedstocks are 100 percent waste or residues and cannot be used for food and feed, all GoodFuels’ biofuels gain International Sustainability and Carbon Certification.
