Banle Energy launches its 1st biofuel-bunkering operation in Hong Kong
Banle Energy International Ltd., a subsidiary of CBL International Ltd., completed its first B24 biofuel-bunkering operation in Hong Kong in partnership with ASB Biodiesel (Hong Kong) Ltd. and Seven Seas Oil (Hong Kong) Ltd.
Saybolt, an independent inspection- and testing-service provider, monitored the whole process in order to ensure quality and quantity.
Banle Energy said it has taken the initiative to support its efforts toward the 2023 International Maritime Organization’s greenhouse-gas (GHG) strategy, which was adopted at the Marine Environment Protection Committee (MEPC 80) in early July.
The strategy sets ambitious targets for the shipping industry to reduce the total annual GHG emissions from international shipping by at least 20 percent and 70 percent, with a goal of achieving 30 percent and 80 percent by 2030 and 2040, respectively, compared to 2008 levels.
In line with Banle Energy’s direction focusing on ESG, the company said it is committed to promoting biofuel in an effort to reduce GHG emissions.
Biofuels are being promoted as one of the low-carbon alternatives to the existing fossil oils as they could help to reduce GHG emissions and the related climate-change impact from the shipping industry.
“A proactive culture is part of our DNA,” the company stated. “Even back in 2019, our company was one of the first movers in promoting and supplying very-low sulfur fuel oil (VLSFO) to our clients, ahead of the ‘IMO 2020’ regulation that was implemented in 2020. Today, we again have taken the initiative in introducing B24 biofuel bunkering in Hong Kong.”
Teck Lim Chia, the CEO and chairman of Banle Energy, said, “[Our] B24 biofuel-bunkering operation in Hong Kong is a significant step forward for our contribution of environmental sustainability and for the shipping industry’s efforts to reduce carbon emissions. This sets the stage for the Hong Kong bunkering industry to use biofuels as a means to play its part for decarbonization.”