Category: Resources

Global bunker trading firm ENGINE X has been certified by the renowned International Sustainability and Carbon Certification (ISCC) system to trade sustainable biofuels. 

The maritime industry is in the early days of a major decarbonisation effort, and when shipowners burn lower-carbon fuels they need to prove to regulators that these do indeed have lower emissions than full fossil ones.

A way to prove that a ship has been running on a more sustainable fuel is to show a Proof of Sustainability (PoS) to a verifier. A PoS must be issued by ISCC-certified (or cross-compliant) companies throughout the supply chain to keep it intact. Otherwise the chain is broken and emission reductions cannot be verified.

“ENGINE X is now all set to offer sustainable biofuels with Proof of Sustainability that our customers can show to verifiers to prove their emission reductions. This will be massively important for shipowners in the years and decades ahead, as the industry goes greener. We have mapped out dozens of bunker suppliers selling sustainable biofuels in ports around the world, to help clients identify trustworthy and legitimate sources for biofuel bunkering,” ENGINE X’s Supply Manager says.

Make your compliance count

2024 marks the first year that ship emissions will be taxed in the EU. The least laborious way to rein in emissions and pay less for them is to burn sustainable biofuels, which qualify for a carbon factor of zero in the EU. This means that shipowners don’t have to pay to burn them.

But if you can’t prove that a biofuel is sustainable, you will have to pay full oil-emission price for it. It’s a question of cost-savings. Shipowners that opt to buy more expensive biofuels need to be able to prove to regulators that these fuels are actually sustainable, so that their decarbonisation efforts count towards their compliance record.

 

For further information please contact:

Email: enquiries@engine-x.com

The team behind marine fuels intelligence software ENGINE diversifies into bunker trading to help tackle the mounting complexities facing shipowners.

Five years after launching one of the industry’s leading bunker information and news platforms, ENGINE, which counts a number of large well-known industry players among its long-time users, has today announced the launch of a new worldwide marine fuel trading service. The decision to expand into trading, it says, comes after witnessing the difficulties clients frequently face when executing trades, in a market that has become increasingly fraught and fragmented.

The Trading Manager of ENGINE X, explained: “This decade will see unprecedented changes in the energy sector, as the industry gradually transitions towards a low- and zero carbon future. With its extensive knowledge base and real-time data, ENGINE X will be strategically placed to assist its customers with all their present and future energy needs.”

What used to be two main fuel grades has now become a handful of fuel types and grades, with a kaleidoscope of new renewable options to explore. Fossil bunker fuels have been joined by biofuels, green methanol, bio-LNG and hydrogen. Bunker demand for these alternative fuels is set to grow rapidly from a small base as global and regional environmental regulations will make it progressively more expensive to stick with the fossil fuels. These fuels come with wide variations in calorific contents and combustion performances and knowing them well can be make or break for clients, who are grappling with controlling costs whilst also trying to remain compliant with increasingly stringent regulations.

ENGINE X builds on the data on the ENGINE platform but recognises that some things seldom change: human bunker buyers want to deal with other human bunker traders, all the way through from the point of enquiry to successful bunker delivery.

“Introducing the human aspect of trading was the natural progression for ENGINE,” they continued.

Now, ENGINE X is servicing all main ports in the world from its core offices in Dubai and Singapore, with more office locations due to open in London, Houston and Athens in 2024. As well as supplying the usual bunker fuel grades, the team will leverage its expertise and connections in the alternative fuels space, with biofuels and LNG key fuels to focus on initially.

About ENGINE X:

ENGINE X, leveraging the ENGINE platform’s technological prowess, promises shipowners, operators and suppliers a seamless, transparent and efficient trading experience. In an industry where timeliness, quality and reliability make all the difference, ENGINE X promises to deliver all that and more.

For further information or media-related queries, please contact:

Email: enquiries@engine-x.com