Banle Energy worked with Green Marine Supply and Armada Meridian to supply Yang Ming Marine Transport Corporation in Port Klang with B24 biofuel. This initiative makes Banle Energy the first supplier of this type of fuel to the port, in line with the International Maritime Organization’s (IMO) decarbonization objectives for 2023.
Compliance with environmental regulations
In anticipation of the new FuelEU Maritime regulations and IMO guidelines aimed at reducing greenhouse gas emissions, Banle Energy has obtained ISCC EU and ISCC Plus certifications. These certifications confirm the company’s commitment to providing sustainable fuel solutions to its customers.
Maritime Decarbonation Objectives
At the Bonn climate talks in June 2024, IMO reaffirmed its goals of reducing emissions from the global maritime sector by 2050. This includes the adoption of alternative fuels such as biofuels, LNG, LPG and methanol. Banle Energy’s B24 biofuel bunkering service contributes directly to these objectives.
Growth in the marine biofuels market
According to Exactitude Consultancy, the global marine biofuels market is set to grow from USD 11.57 billion in 2023 to USD 201.35 billion by 2030, at a compound annual growth rate of 50.4%. This growth reflects the increasing demand for more sustainable fuels in the marine sector.
Port Klang’s impact on the economy and the environment
Port Klang, Malaysia’s largest port, is vital to the national economy. B24 biofuel, a blend of methyl ester from used cooking oil and traditional marine fuel, can reduce greenhouse gas emissions by 20% compared with traditional fuels. This strategic partnership guarantees a stable supply of biofuel for the region.
Outlook for Banle Energy
The partnership between local refineries and Banle Energy ensures a stable supply of biofuel, supporting the company’s regional expansion. The Port Klang project reinforces Banle Energy’s commitment to decarbonization objectives and sustainable development in the maritime sector.
