Latest news with #VLSFO
Bangkok Post
16-07-2025
- Business
- Bangkok Post
Biofuel for ships yields promise
Major energy companies are interested in launching biofuel for ships as demand for this cleaner fuel is expected to rise, following a requirement issued by the International Maritime Organisation (IMO). Ship operators are required to incorporate a percentage of biofuel, ranging from 17.6%-23.3%, into their fuel mix by 2028 to avoid penalties. This offers business opportunities, with energy conglomerate Bangchak Group and national oil and gas conglomerate PTT Plc launching ventures producing and selling biofuel for aircraft, also known as sustainable aviation fuel. The Department of Energy Business also wants to promote biofuel for ships and is looking into how the shipping industry will develop, said director-general Sarawut Kaewtathip. Although the price of very low sulphur fuel oil (VLSFO), a type of clean fuel suitable for ships, is much more expensive than heavy fuel oil, which is widely used among ships, the price of VLSFO is expected to decline in the future as production levels increase, he said. PTT Oil and Retail Business Plc (OR), a subsidiary of PTT, has announced its cooperation with Regional Container Lines Plc, a Thai shipping company, to support usage of what they call "bio-VLSFO". This fuel aligns with the IMO's plan to reduce emissions of sulphur oxide. OR plans to distribute bio-VLSFO, which is made by combining VLSFO with used cooking oil through a refining process, said Paisan Udomkulwanich, OR's senior executive vice-president for energy solution business. Regional Container Lines will use bio-VLSFO supplied by OR. Bangchak is also embarking on a new business selling a form of biofuel for ships, which the company calls "B24" marine biofuel. The company earlier this year delivered 470 metric tonnes of B24 to NYK Trading Corporation at Laem Chabang deep-sea port in Chon Buri. B24, produced by Bangchak's subsidiary BSRC at Bangchak Sriracha Refinery, is a mix of 24% used cooking oil methyl ester and 76% VLSFO. Used cooking oil methyl ester is a type of biodiesel produced from waste cooking oil. B24 is a low-emission biofuel that can directly replace fossil fuels without requiring modifications to ship engines or fuelling infrastructure, according to Bangchak.
The Hindu
16-07-2025
- Business
- The Hindu
How is global shipping trying to decarbonise?
The story so far: Global shipping is on course towards decarbonisation by 2040-50. This represents a huge opportunity for India. Merchant ships largely use Very Low Sulphur Fuel Oil (VLSFO), diesel, and methane gas stored in liquid form as fuel. LNG-powered engines with their higher efficiency of some five percentage points are likely to be a transition fuel before shipping moves to green fuels such as green ammonia, green or e-methanol and biofuels by 2040 and net zero thereon. How are green fuels produced? Green hydrogen is made from the electrolysis of water using renewable power. Shipping will not use hydrogen directly because of issues with storage and transportation of hydrogen, a highly volatile fuel. Green ammonia, made from green hydrogen and nitrogen, is more stable. The government is also encouraging green ammonia production in India since it can substitute LNG imports in making fertilizers. Green methanol is made from green hydrogen and carbon dioxide obtained from industrial sources. What are the preferred fuels? Shipping, however, is generally a conservative industry. New technology adoption is relatively slow. Ammonia engines are a novelty, so shipping is going first for green methanol, which emits some 10% of carbon dioxide, and later green ammonia, which emits no greenhouse gas. However, ammonia use requires extensive processes onboard. Besides a storage tank and tweaks to the engine and fuel handling system, green methanol is almost a drop-in replacement for VLSFO and is stored as liquid in ambient temperature unlike green ammonia or even LNG. Already, more than 360 ships capable of operating on methanol are either in service or in order. Major container shipping companies such as Maersk, CMA, CGM and Evergreen are backing methanol. A 100% sustainable e-methanol as bunker fuel costs $1,950 per tonne (of VLSFO equivalent) in February in Singapore, while VLSFO averaged at $560 per tonne. This pricing discrepancy is primarily caused by the present price of renewable electricity, with every tonne of green e-methanol using 10-11 MWh of power, and the heavy upfront capital cost for electrolyser facilities. Estimates suggest that demand for green methanol would surpass 14 million tonnes by 2028, whereas the projected supply is merely in the order of 11 million tonnes, creating additional price pressures. What is Indian shipping's decarbonisation plans? India has committed to decarbonising its domestic shipping. Plans have been made for supporting domestic container ships using green fuels as well as creating green fuel bunkering points such as at the Tuticorin V.O. Chidambaranar port and Kandla. The government is looking at producing and supplying green fuels to Singapore, which is a fuelling station accounting for nearly one-fourth of all global ship fuelling. Singapore has committed to being a green fuels supplier and would require therefore tens of millions of tonnes of green fuels. Given that India has the land and expertise for solar power, it can aspire to be a major supplier of green fuels to global shipping. How can India do it? Making a marine green fuels production hub has some challenges. Solar panels and electrolysers to make green hydrogen need to be imported. India's solar energy revolution, however, is a model of how sovereign guarantees and policy strategic frameworks can drive the adoption of green fuels. From 2014 to 2025, India's solar capacity grew from 2.82 GW to 105 GW. This achievement was made through the convergence of sovereign guarantees, off-take assurance, and strengthened supply chain support. Sovereign guarantees have emerged as a powerful de-risking mechanism for green methanol investments that can considerably reduce prices. These government-backed assurances can fundamentally transform project economics by enabling access to international capital markets at significantly lower interest rates. Innovative financial instruments are needed for an at to scale green methanol rollout. Production-linked incentive (PLI) schemes for electrolysers can relieve supply chain bottlenecks by territorialising value chains and lessening transportation costs of raw materials. Carbon capture, utilisation, and storage (CCUS) incentives are also essential, as they increase the feasibility of the production of green methanol from sequestered CO2. Further, the government's aggressive push in creating 1.5 GW of local electrolyser manufacturing capacity and growing industrial CO2 sources (from steel and cement industries) positions India strategically to develop integrated green fuel hubs. Multilateral development banks offer financing at rates as low as 4%, as opposed to 11-12% by domestic lenders, and they can be leveraged. How can green fuels help restart Indian shipowning and shipbuilding? The government's move to inject demand-side support for shipbuilders, along with incentives for foreign cooperation, should spur economies of scale and attract global shipbuilders to the country. Partnerships with overseas shipbuilders from South Korea and Japan are being pursued to support India's shipbuilding strength. The strategy is to support new builds and retrofit current ships for green fuel compatibility. India has pledged $10 billion to support the purchase of over 110 ships. Government can provide incentives so 10-20% of these are green fuel-capable, built in Indian shipyards, and are Indian-flagged.
Time Business News
09-07-2025
- Business
- Time Business News
Innovations Driving the Future of Very Low Sulfur Fuel Oil (VLSFO)
Very low sulfur fuel oil (VLSFO) is a sea fuel with sulfur content of 0.5% or less, which has been developed to follow the rules of the International Marine Organization (IMO) 2020 with the aim of reducing sulfur emissions from ships to protect air quality and environment. Very low sulfur fuel oil (VLSFO) is rapidly growing due to strict environmental rules, especially installation of emissions control areas (ECA) with tight sulfur boundaries. Marine industry's commitment to rising environmental awareness and stability is also promoting the demand for cleaner fuel options. These factors collectively run the strong expansion of the VLSFO market. Key Growth Drivers and Opportunities Supply Chain Digitalization: The supply chain digitization is emerging as a major trend in the VLSFO industry, increasing efficiency, transparency and accountability in fuel production and distribution. Techniques such as blockchain, IOT, and AI help to monitor fuel quality, adapt to inventory and predict demand, enable fast decision making and better compliance with environmental rules. This reduces digital change risk, reduces costs, and VLSFO strengthens confidence among stakeholders, supporting the sustainable development of the industry. Challenges Very low sulfur fuel oil (VLSFO) industry faces several borders, including limited global purification capacity to meet high production costs and increasing demand. Conversion can lead to operating challenges in issues of fuel quality and compatibility with the engine of the ship. Additionally, value instability, disruption in supply chain, and lack of standardized global rules obstruct market stability. These factors can affect the adoption rate for both suppliers and final-users in the marine industry and affect risks. Innovation and Expansion FuelEU-Compliant Co-Processed VLSFO Introduced by Vitol for Greener Shipping In May 2025, Customers will be able to purchase co-processed bunkering fuel from Vitol Bunkers that complies with FuelEU regulations. The fuel is being manufactured at Vitol's refinery in Fujairah, which produces 100,000 barrels per day of finished bunker fuel. Vitol Bunkers will eventually market the gasoline in other areas. There is no need for further licenses or specific provisions in charter party agreements since the co-processed fuel, which complies with RMG380 very low sulfur fuel oil (VLSFO) grade, has the same chemical composition and quality as conventional fuel. HPCL Opens Visakhapatnam Port's VLSFO for the Shipping Sector In January 2020, In Visakhapatnam, Hindustan Petroleum Corporation Limited (HPCL) introduced Very Low Sulphur Fuel Oil (VLSFO), which complies with IMO-2020. The product satisfies the standards of ISO 8217:2017 and the Residual Marine Grade (RMG) 0.50 Specification. Additionally, this gasoline satisfies every quality requirement listed in the newly published ISO 23263:2019 standard by the International Organization of Standardization. HPCL has made steps at both refineries to produce BS-VI compliant transport fuels ahead of schedule in order to uphold its commitment to environmental preservation. Additionally, both refineries have embarked on ambitious expansion projects to boost their capacities from 7.5 to 9.5 MMTPA at the Mumbai Refinery and 8.33 to 15 MMTPA at the Visakh Refinery. Inventive Sparks, Expanding Markets Very low sulfur fuel oil (VLSFO) is one of the major players working in the market, Exon Mobil Corporation, BP PLC, Vitol Bunkers, Shell International BV, and others. To maintain compliance with the quality of continuous fuel and changing environmental needs, very low sulfur fuel oil (VLSFO) firms must invest in modern purification processes. Businesses are also focused on increasing their global bunkering infrastructure to increase supply chain efficiency, especially in ports with heavy traffic. About Author: Prophecy is a specialized market research, analytics, marketing and business strategy, and solutions company that offer strategic and tactical support to clients for making well-informed business decisions and to identify and achieve high value opportunities in the target business area. Also, we help our client to address business challenges and provide best possible solutions to overcome them and transform their business. TIME BUSINESS NEWS
Cision Canada
02-07-2025
- Business
- Cision Canada
CURVE ENERGY CORP. ANNOUNCES NON-DISCLOSURE AGREEMENT WITH SAUDI ARAMCO TECHNOLOGIES
VANCOUVER, BC, July 2, 2025 /CNW/ - Curve Energy Corp. (the " Company" or " Curve") confirms that its wholly owned subsidiary, Curve Energy Pte Ltd, has entered into a Non-Disclosure Agreement (NDA) with Saudi Aramco Technologies Company, a wholly owned subsidiary of Saudi Aramco. The NDA formalizes ongoing discussions and the exchange of information between the two parties. About Curve Energy Corp. Curve Energy Corp. is a technology-driven company pioneering advanced green chemistry solutions for the maritime fuel industry and broader energy markets. The company's patented desulfurization technology upgrades Heavy Fuel Oil (HSFO) by removing sulfur, upgrading it into Very Low Sulfur Fuel Oil (VLSFO) under near-ambient conditions. Curve's technology eliminates the need for carbon-intensive SMR hydrogen desulfurization, blended fuels, and scrubbers. It also demonstrates the ability to reduce additional pollutants such as nitrogen oxides (NOx) and vanadium pentoxide (V₂O₅), supporting evolving multi-pollutant emissions standards. For more information about Curve, visit On behalf of the Board of Directors Peter Joyce Chief Executive Officer Forward Looking Information This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would" or "occur". This information and these statements, referred to herein as "forward – looking statements", are not historical facts, are made as of the date of this news release and include without limitation, statements regarding discussions of future plans, estimates and forecasts and statements as to management's expectations and intentions with respect to, among other things: the anticipated timing and completion of the Transaction; the expected continuance of the Company into British Columbia and adoption of new corporate articles; the anticipated approval of the TSX Venture Exchange; and the upsize of the private placement. These forward – looking statements involve numerous risks and uncertainties and actual results might differ materially from results suggested in any forward-looking statements. These risks and uncertainties include, among other things, the risks that the Transaction may not be completed as currently anticipated or at all; required regulatory or third-party approvals, including TSX Venture Exchange acceptance, may not be obtained or may be delayed; the Company may not complete its continuance into British Columbia or adopt the proposed new corporate articles; the conditions to closing of the Transaction may not be satisfied by the extended completion deadline; the upsized private placement may not be completed as anticipated, or at all; and general business, economic, competitive, market and regulatory factors may adversely affect the resulting issuer's business and operations. In making the forward looking statements in this news release, the Company has applied several material assumptions, including without limitation, that: the Transaction will proceed as currently contemplated; all necessary regulatory and third-party approvals, including TSX Venture Exchange acceptance, will be obtained in a timely manner; the parties will be able to satisfy the closing conditions on or before the extended completion deadline; the continuance of the Company into British Columbia and adoption of new corporate articles will be implemented as approved by shareholders; and the private placement will be completed as anticipated. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws.
United News of India
07-06-2025
- General
- United News of India
Kerala: Efforts continue to remove 54 containers washed ashore
Kochi, June 7 (UNI) Efforts are on to remove 54 containers washed ashore after the Liberian cargo vessel, MSC ELSA 3, capsized off Kochi on May 25, sources said on Saturday. Around 17 containers washed ashore were removed from the Kollam and Thiruvananthapuram coasts. The removal of containers is being done by the Waterline Shipping appointed by Mediterranean Shipping Company (MSC). The Waterline Shipping has already removed 13 from Kollam and four from Thiruvananthapuram shores. However, fishermen complained that manual cleaning of plastic pellets, came off sacks and swamped the coast in many areas, is slow. The 184-metre-long ship built in Germany in 1997 was carrying 640 containers, including 13 containing hazardous materials. Over 100 containers are reported to have been lost at sea, and several have washed ashore in Alappuzha, Kollam, Ernakulam and Thiruvananthapuram. The vessel was carrying 367.1 tonnes of Very Low Sulfur Fuel Oil (VLSFO) and 84.44 tonnes of marine diesel fuel. UNI DS SS
