A bulk carrier operated by Stamford, Conn.-headquartered Eagle Bulk Shipping Inc. (NASDAQ: EGLE) has successfully completed a voyage bunkered on biofuel. The ship, the 63,529 DWT Sydney Eagle was bunkered with advanced marine biofuel for the first time during its call at Terneuzen, the Netherlands.
The fuel was supplied by Netherlands-based GoodFuels, which says its sustainable marine biofuels enable an 80-90% well-to-exhaust CO2 reduction.
GoodFuels’ advanced biofuels are produced from certified renewable feedstocks labeled as 100% waste, or residue that cannot be used for any higher quality application or recycling, such as used cooking oil and waste animal fats. The biofuels “drop in” to tanks without any alterations to the fuel infrastructure or marine engines, and ensure compliance with the IMO sulfur cap as they are virtually free of all SOX emissions. Importantly for the use and uptake of biofuels, GoodFuels meets the highest sustainability requirements, and its entire portfolio of biofuels are reviewed by an independent sustainability board.
Owners and operators, such as Eagle Bulk Shipping, have been required to meet the IMO 0.5% sulfur limit since January 2020, and recently adopted regulation will require ships to improve their energy efficiency, in line with IMO’s current target to reduce the average carbon intensity of shipping by at least 40% by 2030, and 70% by 2050.
GoodFuels says that sustainable biofuels are a leading contender for marine decarbonization due to their drop-in characteristics, well-tuned infrastructure, and ability to enable stakeholders to comply with current and upcoming environmental legislation. They are also one of the few solutions that already exist on the market today and are available for all vessel types.
“Eagle continues to actively explore ways to decarbonize its fleet, while maximizing efficiency in line with international targets to reduce carbon intensity and absolute emissions from shipping,” said Jonathan Dowsett, Director of fleet performance at Eagle Bulk Shipping. “We are extremely pleased with the results of our first biofuel-powered test voyage and look forward to working with GoodFuels in the future.”
“It’s an honor to work with Eagle Bulk Shipping as a fellow passionate environmental frontrunner that is exploring an innovative and sustainable pathway to shipping’s decarbonization transition by bunkering our sustainable marine biofuels,” said Isabel Welten, chief commercial officer at GoodFuels, calling the Sydney Eagle bunkering “the latest step in scaling our low-carbon biofuels for wider commercial use within the maritime industry.”