With support from the Maritime and Port Authority of Singapore (MPA), BHP and GoodFuels Marine have signed a Letter of Intent (LOI) to collaborate on a biofuels pilot project in Singapore, which is expected to be carried out early next year.
The LOI was signed during an MPA-organized inaugural closed-door biofuel roundtable in Singapore which discussed the use of biofuels as a sustainable alternative fuel for the future of shipping.
We are pleased to facilitate discussions on the biofuels front along with our partners, BHP and GoodFuels. The roundtable comes at an opportune time in light of the International Maritime Organization’s (IMO) 0.5% global sulfur cap on marine fuels which will come into effect from 2020, as well as IMO’s longer term plan to lower carbon emissions for shipping. MPA welcomes dialogues across stakeholders and will continue to work with relevant parties as we prepare the bunkering industry for the future.—Andrew Tan, Chief Executive of MPA
As the largest bunkering hub in the world, Singapore is working towards providing cleaner alternative sources of fuel to cater to the future energy needs of the global shipping industry. Among the topics discussed at the roundtable included barriers to the use to biofuels and how these could be addressed.
The Maritime and Port Authority of Singapore (MPA) was established on 2 February 1996, with the mission to develop Singapore as a premier global hub port and international maritime centre (IMC), and to advance and safeguard Singapore’s strategic maritime interests. MPA is the driving force behind Singapore’s port and maritime development, taking on the roles of Port Authority, Port Regulator, Port Planner, IMC Champion, and National Maritime Representative.
GoodFuels Marine develops and delivers sustainable biofuels for the maritime sector. GoodFuels’ products are drop-in replacements of fossil fuels. By utilizing GoodFuels’ advanced biofuels, the CO2-footprint can be reduced up to 90%. All GoodFuels’ products are produced from wastes and residues, and meet the most stringent sustainability criteria. GoodFuels is certified for the RSB-sustainability standard, and has installed an independent sustainability board comprised of NGO’s and academia, reviewing the sustainability of its products. GoodFuels is part of the GoodNRG group.