ROTTERDAM, September 19th: GoodFuels Marine, the world’s first supplier of sustainable low carbon marine fuels, and blockchain technology and governance experts Blockchain Labs for Open Collaboration (BLOC), have successfully completed the world’s first bunker delivery and transaction using blockchain technology.
The delivery, made to a Samskip vessel via a Reinplus Vanwoerden bunker barge in Rotterdam on September 7th, represents a landmark moment for the shipping industry, which has traditionally been beset by quality and quantity disputes when fueling vessels. Unlike traditional bunker delivery notes (BDN), a paper document still widely used in the industry, blockchain – a decentralised, distributed and public digital ledger – provides end-to-end traceability of marine bunkering transactions from storage, to the barge or jetty, and on to the vessel’s fuel tank, thereby providing assurance to shipowners, shippers and charterers.
The landmark also represented the first transaction for Maritime Blockchain Labs (MBL), an initiative by BLOC of blockchain pilot projects conducted in collaboration with blockchain practitioners and industry actors. In addition, the event marked first sustainable low carbon marine fuel delivery as part of the GoodShipping Program, which is part of MBL.
The GoodShipping Program requires shippers to commit to a reduction in their sea freight CO2 emissions by purchasing sustainable biofuels, based on the premise that, as all CO2 from container shipping is emitted into the same atmosphere, it doesn’t matter which vessels take on biofuel, as long it is traceable.
Dirk Kronemeijer, CEO and Founder, GoodFuels Marine, commented: “For too long shipping has been relying upon paper transaction notes when bunkering, which expose shipowners, shippers and charterers to the potential of being misled on the quality and quantity of fuel. At GoodFuels, we are always striving to break convention – not for the sake of it, but because in this era there is no technological barrier to providing customers better assurance.
“In addition, for GoodFuels Marine, as the world’s first supplier of sustainable ‘drop-in’ marine biofuel, we realise we have to go beyond current standards to ensure traceability. This transaction – the first of many to come – shows the confidence we have in delivering ‘on spec’, sustainable low carbon fuel.”
Deanna Macdonald, CEO, BLOC, added: “This project not only allows us to validate the value of blockchain technology in the marine fuels supply chain, but also to identify incentives to ensure that users input correct information into systems, and that any technology and systems created can be used as widely as possible.
“The bunker industry – with its multiple large volume transactions, and history of fraudulent claims – provides an ideal platform to examine where blockchain’s digital platform can be utilised to increase transparency, and create better compliance and strong governance. The fact that the first transaction was for low carbon fuel makes both the project and the opportunity for the future all the more exciting.”
Anniek Sluis, Growth Accelerator, GoodShipping Program: “For the GoodShipping Program, it is vital we show shippers that we can guarantee the delivery of truly sustainable fuels in a reliable, traceable and transparent way. Blockchain has the benefits to serve as a tool to increase end-to-end traceability in the supply chain of the biofuels, which is vital for our program participants.”
About GoodFuels Marine
GoodFuels Marine is a Netherland’s based global pioneer in sustainable marine fuels. The company has created a one-stop shop for marine industry customers integrating the entire supply chain for sustainable marine biofuels. From feedstock to tank, GoodFuels Marine’s proposition covers elements of sourcing feedstock and ensuring its 100% sustainability, the production and refining, the global distribution, quality assurance and marketing programs with ports, governments and end clients. GoodFuels Marine has its operations RSB certified.
GoodFuels Marine is part of the GoodNRG Group, which is active under various labels and companies in sales, marketing, trading, R&D and production of truly sustainable fuels for the transport segments for which biofuels is one of the best or only viable long-term alternative. Learn more about GoodFuels at goodfuels.com
About The GoodShipping Program
The GoodShipping Program is the first program in the world that allows companies to make their ocean freight more sustainable by replacing polluting fossil fuels with clean, climate-neutral and truly sustainable fuels.
This is done in collaboration with GoodFuels Marine, market leader and pioneer in the field of sustainable bio-based marine fuels. An important part of the GoodShipping partnership with GoodFuels is the use of only truly sustainable residual flows, which do not compete with the food supply or lead to deforestation of rainforests. This is done under the supervision of an independent sustainability board with leading NGOs and academics.
Another important partner of GoodShipping is DHL Global Forwarding. The global market leader in logistics offers the GoodShipping Program to all its ocean freight customers, as part of DHL’s ‘Go Green portfolio’.
Last year GoodShipping won various prizes such as the TedX Amsterdam Award and the Accenture Innovation Award for Clean and Affordable Energy.