The fuel supplier notes 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. 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,” said Jesper Nielsen, Group Responsibility Director at Monjasa.
Most recently, Monjasa’s efforts have 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,” explained Camilo Angulo Ferrand, Trading Manager at Monjasa Americas.
A B20 biofuel blend consists of 20% Fatty Acid Methyl Ester (FAME) and 80% Very Low Sulphur Fuel Oil (VLSFO).
In July 2023, Monjasa achieved the globally applicable sustainability certification system, ISCC, across offices and operations in Panama, USA, Denmark, Dubai, and Singapore.
All involved parties can trace feedstock used to produce biofuels from the point of origin to the end consumer. And ISCC allows Monjasa to measure the greenhouse gas emissions from each phase of the supply chain and make this data available to shipowners as well.
Monjasa also provides biofuel options in other parts of the world, including this summer’s first B24 biodiesel supply for a Very Large Gas Carrier (VLGC) off Dubai. This successful operation was the result of new collaboration across the supply chain involving Astomos Energy, Inpex Corporation and Monjasa, with the product being blended and supplied by Monjasa’s locally deployed tanker, 9,600 dwt Monjasa Shaker.