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Vitol launches global bunkering service

& emission offsets

Major energy and bunker trader Vitol has launched Vitol Bunkers, which will “offer ship and fleet owners worldwide access to high quality marine fuels, blended to meet required specifications”.

DNV GL: “Oil will still be main marine fuel in 2050”

The company’s Global Bunkering Account Manager Chris Young, commenting on the April launch, said: “Vitol has for decades been a leading global trader in bunker fuels. Today, we are excited to be extending our services and we look forward to delivering the highest quality marine fuels to new and existing customers, across key locations.”

 

Vitol charters 6,650 ship voyages a year and has over 250 vessels at sea transporting its cargoes at any one time. Vitol manages its own fleet of vessels through its Latvian-based technical management company, LSC, as well as through a Singapore-flagged fleet offering barging services.

Vitol Bunkers announced that its customers will be offered the opportunity to cancel emissions associated with any given cargo through the overlay of Verified Emissions Reductions (VERs). It said: “The VERs will conform to the highest international standards and will be sourced from Vitol’s existing portfolio and the wider market and emissions will be calculated using IMO and EU guidelines. Customers will be offered a range of offset solutions to enable them to align mitigation with their broader emissions reduction programme and a fully bespoke programme will be available for customers wishing to deploy this strategy at scale.”

 

Young said: “Shipowners are keen to be part of the climate solution. Offsetting will be key to enhancing the sector’s environmental performance and we are delighted to be able to combine our expertise in two core areas and launch this compelling offering.”

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