• 2019 October 21 17:05

    Blockchain and DNA-based marine fuels tracking solution BunkerTrace goes live

    On Friday, BunkerTrace, the unique blockchain and DNA- based fuels tracking solution, announced its commercial launch shortly after a successful trial in the Netherlands on Thursday, October 3, which was conducted in partnership with Cooperative Bebeka. Announcing the launch at Aracon, BunkerTrace is now ready to receive requests for commercial partnerships and adoption by bunker suppliers, ports and operators.

    The solution, which adds DNA markers to fuel at every stage of the supply chain and records each transaction in a blockchain-based system, has already received significant interest from ports, bunker suppliers and vessel operators.

    Harry Vasse, General Director at Cooperative Bebeka, commented:

    “Managing the energy procurement now and in the future has our highest priority. Energy procurement is about sustainability, transparency and environment. CSR reporting takes place at boardroom level since company reputation is at stake. With the product portfolio in the marine energy market becoming increasingly complex and diverse in the near future our focus is on expertise and continuously developing of member protection tools and this is why we fully support the BunkerTrace initiative. Combining these two revolutionary technologies will provide the Cooperative and its members with an independent and transparent method for managing fuel quality throughout the bunker chain. Furthermore, it will support us in identifying the most reliable and trustworthy supply chains and streamline compliance.”

    BunkerTrace CEO Marc Johnson commented:

    “As IMO 2020 approaches, we’re seeing fundamental changes to the dynamics of the bunkering market, which in turn creates uncertainty and risk: risk for owners, charterers, credit providers and financiers in the fuels they buy or fund; risk for insurers in establishing the risks they must manage; risk for operators and the fuels they burn; and for enforcers policing the fuels market. That’s why BunkerTrace exists.

    “We’d like to thank all our industry partners, colleagues, friends and supporters who’ve helped us get this far so quickly. From Maritime Blockchain Labs’ first consortium in early 2018 to our successful pilot operation in Antwerp/Vlissingen some weeks ago, we’ve come a long way. However, there’s a long journey ahead and we’re inviting stakeholders throughout the industry to join us here.”

    By combining blockchain and DNA-based tagging, BunkerTrace creates an immutable audit trail, which follows the fuel and any changes made to it. It also records all activities and sign-offs by actors transacting the fuel. BunkerTrace provides evidence of compliance with IMO 2020 and ensures that at every point in the supply chain, it’s easy for stakeholders to check if the fuel they are moving, loading, buying or selling is the product that it’s meant to be, even if fuel has been blended or mixed.

    In the recent trial, a Boskalis-owned dredger, Prins der Nederlanden was bunkered with 900 cubic meters (CBM) of DMA 0.1% sulphur ISO 8217:2010 compliant fuel supplied by Minerva with a unique tracer added. The crew then successfully detected this mark with an on-board analysis case that took less than one minute, with the result of the test logged in a blockchain- based transaction record.

    About Bunkertrace:
    BunkerTrace is a joint venture between Forecast Technology Ltd. and BLOC (Blockchain Labs for Open Collaboration). For owners and managers looking to discern the integrity of a fuel product before it’s loaded, BunkerTrace combines digital and forensic technologies to create an inclusive support system that enhances marine fuel traceability and provides a clear chain of custody for better quality assurance in the bunker fuel supply chain. To tag the fuels, it uses ‘oligonucleotides’ (short single strands of synthetic DNA) to provide a virtually unlimited number of unique, secure codes (fingerprints), which are encoded with the information on quality and origin of fuels from the BunkerTrace solution. Taken together, these elements create an immutable chain of custody audit trail that follows the fuel, and any changes made to it, throughout the supply chain and records all activities and sign offs by actors transacting the fuel. The prototype for BunkerTrace was developed by the Maritime Blockchain Labs (MBL) consortium, funded by the Lloyds Register Foundation.




2019 November 17

16:12 Port of Dover wins ESPO Award 2019
14:47 Aker Solutions and leading operators join forces to qualify subsea gas separation
14:12 Wight Shipyard Co to build an innovative hybrid CTV for CWind
12:42 PSA Marine and Wartsila join hands to tackle climate emergency
11:38 A.P. Moller-Maersk improves operational profitability
10:15 ABS and Arista launch smart shipping journey

2019 November 16

16:42 Team Tankers International Ltd. announces Q3 2019 results
15:02 GasLog places NOK 900M of senior unsecured bonds due 2024
14:23 BTG and GoodFuels preparing for major investment in bio-refinery to support shipping’s low carbon fuels demands
13:41 Third L-class delivered in China
12:32 Seaspan to purchase a fleet of six containerships on long-term charter for $380 million
11:28 Mammoet inks agreement with Port of Coeymans Marine Terminal to strengthen presence along East Coast
10:18 Metal Sharks delivers pilot boat duo to BCMT

2019 November 15

18:09 Coast Guard medevacs cruise ship Aida Perla passenger just off Ponce, Puerto Rico
17:48 Sovcomflot reports its results for third quarter and nine months of 2019
17:23 Wärtsilä and PSA Marine collaborate to achieve clean energy shipping
17:15 Bollinger Shipyards contracted to build ocean transport barge
17:00 Composit supports 7th International Forum of Dredging Companies as its Sponsor
16:57 Ulstein unveils its concept of the first hydrogen powered offshore vessel
16:36 RF Government separates positions of Deputy Transport Minister and head of Rosmorrechflot
16:14 IMO holds training on impacts of anti-fouling systems and ships’ biofouling on marine environment
15:39 Norway boosts IMO's GreenVoyage-2050 GHG project
15:11 New Wärtsilä Expertise Centre provides value-adding lifecycle support
14:57 LUKOIL commissions phase three facilities at Filanovsky field
14:30 NSR cargo traffic totaled 26 million tonnes year-to-date, up 63.5% YoY
14:13 Georgia Ports Authority up 3.5 percent to 428,400 TEU in October 2019
13:13 Diana Shipping announces direct continuation of time charter contract for m/v Medusa with Cargill
12:51 Multipurpose Reloading Complex reports 4-fold increase of allocations for environment protection to RUB 11.5 million
12:32 ABI Research: Commercial fleets looking to tech to accelerate ROI in the face of rising costs, competition, and uncertainty
12:13 Port of Oakland names Danny Wan Executive Director
11:28 ESL Shipping participates in Intelligence Hunt
11:00 CMA CGM to apply GRI from Canada West Coast to worldwide destinations (Excluding EU, Russia & USA)
10:41 Delft Dynamics, Next Ocean and Damen perform qualification test in North Sea
10:40 Gremyashii corvette of RF Navy’s Nothern Fleet to be tested in White Sea
10:16 Training ship Perekop of RF Navy's Baltic Fleet arrives in Republic of Myanmar
09:54 Bunker prices go down at the port of Saint-Petersburg, Russia (graph)
09:39 MABUX: Bunker market this morning, Nov 15
09:32 Brent Crude futures price is up 0.45% to $62.56, Light Sweet Crude – up 0.51% to $57.06
09:13 Baltic Dry Index is up to 1,364 points

2019 November 14

18:19 French Prime Minister Edouard Philippe inaugurates CEVA Logistics’ new headquarters in Marseille
18:00 Boosting handling of cargo bound for Arctic considered as strategic development vector of Murmansk Commercial Seaport
17:41 Port of Liepaja (Latvia) handled 5.92 million tonnes of cargo in 10M'2019, down 5.1% Y-o-Y
17:20 Gasunie, EBN, Port of Amsterdam and Tata Steel work together on the development of a CCUS project in the North Sea Canal area
16:49 Hung Hua Construction of Taiwan orders third Fast Crew Supplier this year to support offshore wind ambitions
16:36 Main engines loaded onto second serial ship of PV22 project at Nevsky Shipyard
16:15 Hapag-Lloyd announces rates from East Asia to North Europe and Mediterranean
15:59 Yevgeny Savkin appointed as General Director of Novyie Kommunalnyie Tehnologii in Ust-Luga port
15:15 The ICS and ECSA call for immediate and effective intervention after yet another attack in the Gulf of Guinea
15:12 Restoration of 90 year old Amsterdam bridge by Niron Staal
14:43 Expert forecasts scrubbers to consume some 600,000 barrels of heavy fuel per day in 2020
14:14 Norway boosts IMO's GreenVoyage-2050 GHG project
13:32 Sea Port of Saint-Petersburg invested RUB 630 million in development in 9M’19, up 53% YoY
13:11 MOL earns AIP for design of bow wind-shield, ultra-large containership
12:30 Bunker prices are flat at the Far East ports of Russia (graph)
12:04 CMA CGM announces FAK rates from Asia to the Middle East Gulf
11:23 Aleksey Rykovanov appointed as General Director of Murmansk Commercial Seaport
11:01 Arista Shipping starts the path to smart shipping operations with an ocean data agreement with ABS
10:39 RF Government supports expansion of Murmansk Transport Hub capacity to 65 million tonnes by 2035
10:16 MABUX: Bunker market this morning, Nov 14
10:02 WesCom Signal and Rescue goes green at METSTRADE 2019