Crude oil

Case studies | Shipping | Nov 22nd 2022

Vitol Bunkers: decarbonising shipping

Shipping is an integral part of international trade flows with over 80% of international trade volumes carried by sea. To address this, the International Maritime Organisation has laid out targets to entirely eliminate all shipping emissions by the end of the century with a shorter-term target to halve total emissions by 2050. The EU has also set its own targets of a 55% reduction in emissions by 2030 and carbon neutrality by 2050.

Vitol supplies marine fuels from key strategic locations including some of the largest bunkering hubs across the globe.

Vitol Bunkers’ network of refineries, terminals and barges ensures security of supply of compliant marine fuels assurance systems.

Through the company’s trading & risk management, it offers both location & product optionality and advance pricing options to key strategic customers.

Its reach & scale with key stakeholders from different maritime sectors like containers, cruise liners, dry bulkers, tankers, car carriers & LNG carriers allows Vitol Bunkers to explore multiple pathways to decarbonisation. We can help customers meet their voluntary & compliance based decarbonisation requirements.

We look to provide ‘available-right-now’ solutions like bio marine fuels to key customers from Singapore, China, ARA, Fujairah & Jebel Ali. These offerings can include carbon offsetting whereby VERs from Vitol’s portfolio of high-quality carbon offset projects are retired.

Vitol Bunkers is playing a key role in delivering bespoke bio-fuel blended VLSFO to customers and conducted more than 50% of bio marine fuel deliveries into the port of Singapore this year.  These bespoke blended bunker deliveries contain a portion of different bio feedstocks as per customer requirements helping them reduce approx. 21% GHG emissions on a life cycle basis. Vitol Bunkers is also in dialogue with maritime stakeholders to explore methanol, ammonia and hydrogen-based decarbonisation solutions.

Our Singaporean bunkers operations company, V-Bunkers, has been recognised for its sustainability, with 5 of its over 20-strong fleet of bunker barges receiving green ship awards from the Maritime Port Authority. V-Bunkers is the first operator to deploy electric-hybrid bunker tankers in the port. The barges utilise energy storage systems (ESS) comprising lithium-ion batteries and charging technologies that will significantly reduce carbon emissions within Singapore Harbour. Through a combination of ESS and highly automated Power Management Systems (PMS) the barges can curb greenhouse gas emissions by over 10%.

Vitol Bunkers is committed to invest & deploy innovative technology to meet increasing customer demand for renewable energies. We aim to provide low-carbon solutions to help our customers reduce emissions and meet their GHG reduction targets.

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