Asia-Pacific Branch of GoodFuels Begins Sustainable Biofuel Deliveries With NYK as Its First Client
GoodFuels, a biofuel pioneer for the global transport industry, has supplied sustainable marine biofuel to NYK's bulk carrier MV Frontier Explorer. It is the company's first supply to a prominent maritime client since opening its Singapore office.
On its way from Australia to India, the MV Frontier Explorer stopped in Singapore on July 5 to refuel with biofuel blended with VLSFO.
The supply was the first to be managed under the GoodFuels-ITOCHU agreement, which was announced in May. ITOCHU was in charge of logistics, blending, and distribution of the biofuel blend, while GoodFuels was in charge of sourcing, technical expertise, and sales, as well as collaborating closely with NYK's technical and commercial teams. To complete the bunkering, GoodFuels collaborated with a licenced bunker supplier.
The bunkering marks a key milestone for GoodFuels, which has been quick to respond to the growing demand for low-carbon marine fuels in Asia and the Pacific.
It demonstrates the endurance and robustness of GoodFuels' newly established biofuel supply chain in Singapore, allowing the company to supply its clients in numerous places and accept further orders for sustainable marine biofuel soon.
It also represents the next step in GoodFuels' developing partnership with NYK. In Rotterdam, GoodFuels supplied biofuel to an NYK-owned vessel for the first time in January 2019.
Jing Xieng JX Han, General Manager, GoodFuels Asia Pacific, said:
“It’s important to underline just how significant this first refuelling with NYK is for GoodFuels’ presence in Asia. 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 biofuel 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 decarbonise 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 built a robust and responsive organisation that can enable shipowners to make a tangible and immediate impact on their emissions.”
Yusuke Niizuma, Manager of 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.”
The collaboration between GoodFuels and ITOCHU, which saw the companies agree to collaborate on providing access to sustainable marine biofuels in all Singaporean territorial waters, waterways, and harbours, will also see both organisations work together to scale up the supply of sustainable marine biofuel in the Asia-Pacific by identifying potential feedstocks.
Ted Tanaka, Managing Director of ITOCHU Petroleum Singapore, the flagship energy trading arm of ITOCHU Corporation, said:
“I am very pleased to see the supply of biofuel to NYK. This delivery demonstrates to our customers and the industry our ability to supply biofuel in Singapore shortly after the formation of our strategic partnership with GoodFuels. Together with GoodFuels, we will continue meeting our customers’ needs for low carbon fuels.”
An independent sustainability board verifies the sustainability of all GoodFuels' feedstocks. All GoodFuels biofuels have International Sustainability & Carbon Certification (ISCC) to assure feedstocks are 100% waste or residues and not food or feed.