By enabling a sustainable and scalable biofuel option for the maritime industry in Latin America, global top 10 marine fuels supplier, Monjasa, prepares for the changing fuel mix of the future. However, Monjasa still awaits the shift away from biofuel trial voyages to a broader pick-up in demand.
Drop-in fuels are considered a viable option in the short and medium-term towards reaching IMO’s target of full decarbonisation of the shipping industry by 2050.
“The recent revised IMO 2050 climate strategy is a noticeable boost to the green fuels industry, however, more concrete and binding requirements are needed to ensure a broad fuel transition away from fossil fuels for the global merchant fleet. Monjasa holds a unique position in the value chain between upstream fuel producers and downstream customers. Therefore, although our data indicates that the demand for biofuel blends is only emerging slowly, we keep preparing our global supply chains, fleet logistics and organisation for the fuel mix of tomorrow,” says Jesper Nielsen, Group Responsibility Director at Monjasa.
Most recently, Monjasa’s efforts have been focused on Latin America and the Colombian port of Cartagena. Monjasa already supplies traditional marine fuels in Colombia and the company now extends its local maritime logistics to include a monthly capacity of 5,000-7,000 metric tonnes of 2nd generation biofuel blends, primarily B20 and B30.
“Together with our partners, we have enabled biofuels supply not only for the Colombian market, but potentially also for the main ports across Latin America, including the Panama Canal. Looking at the current demand, it is the large container lines who are showing concrete interest and driving demand for biofuels in this market. Looking towards 2025, we expect that biofuels will become a broadly accepted option to comply with IMO’s strategy on reducing CO2-emissions from maritime shipping,“ says Camilo Angulo Ferrand, Trading Manager at Monjasa Americas.
