Five years after launching a bunker information and news platform, ENGINE has diversified into bunker trading and launched a new worldwide marine fuel trading service.
ENGINE said that the decision to expand into trading and the creation of the fuel trading platform, named ENGINE X, came after witnessing the difficulties clients frequently face when executing trades, in a market that has become increasingly fraught and fragmented.
According to ENGINE, what used to be two main fuel grades has now become a handful of fuel types and grades with new renewable options to explore. Fossil bunker fuels have been joined by biofuels, green methanol, bio-LNG, and hydrogen.
Bunker demand for these alternative fuels is set to grow rapidly from a small base as global and regional environmental regulations will make it progressively more expensive to stick with fossil fuels.
ENGINE noted that these fuels had wide variations in calorific contents and combustion performances and “knowing them well can be make or break for clients, who are grappling with controlling costs whilst also trying to remain compliant with increasingly stringent regulations.”
“This decade will see unprecedented changes in the energy sector, as the industry gradually transitions towards a low- and zero-carbon future. With its extensive knowledge base and real-time data, ENGINE X will be strategically placed to assist its customers with all their present and future energy needs,” Sid Mishra, supply manager of ENGINE X, explained.