Singapore’s 2023 marine biofuel sales up 270% from 2022

Singapore

The Maritime and Port Authority of Singapore announced Jan. 12 that Singapore has made significant progress in the supply of alternative fuels to support maritime decarbonization.

Chee Hong Tat, the city-state’s acting minister for transport, announced a record year in 2023 for Singapore’s maritime sector at an event hosted by the Singapore Maritime Foundation.

Bunker sales of biofuel blends increased to 520,000 metric tons last year, which more than tripled from 140,000 tons in 2022.

Blends of marine biofuels up to B30 are commercially available, while trials of up to B100 are ongoing.

Liquefied natural gas bunker sales amounted to 110,000 tons in 2023, up from 16,000 tons in 2022. 

In July, the port authority successfully conducted the world’s first ship-to-containership methanol bunkering operation, where about 300 tons of green methanol was supplied for the first time in the Port of Singapore.

In total, 51.82 million tons of bunker sales were registered in 2023, surpassing the previous record of 50.64 million tons in 2017—reflecting Singapore’s support to the global shipping community as a bunkering hub.

Of this, 1.2 percent is alternative fuels and this is expected to continue with good growth prospects in the coming year.  

Singapore is home to more than 180 international shipping groups as well as other maritime players in finance, insurance, cybersecurity, shipbroking, law and arbitration.