Eagle Bulk Shipping partners with sustainability pioneer GoodFuels to take on first biofuels
Eagle Bulk Shipping, one of the world’s largest owner-operators within the Supramax and Ultramax dry bulk segment, has successfully completed a fossil-free voyage in partnership with GoodFuels, the leading biofuels pioneer for the global transport industry, according to the company's release.
As part of Eagle Bulk Shipping’s ambitions to improve the environmental performance of its fleet, the 63,529 DWT bulk carrier Sydney Eagle was bunkered with GoodFuels’ advanced marine biofuel for the first time during its call at Terneuzen, the Netherlands. Eagle Bulk Shipping’s carbon footprint is substantially reduced when using GoodFuels’ sustainable marine biofuel, which enables an 80-90% well-to-exhaust CO2 reduction.
GoodFuels’ advanced biofuels are produced from certified renewable feedstocks labelled as 100% waste or residue that cannot be used for any higher quality application or recycling, such as used cooking oil and waste animal fats. The biofuels “drop in” to tanks without any alterations to the fuel infrastructure or marine engines, and ensure compliance with the International Maritime Organization’s (IMO) Sulphur Cap as they are virtually free of all SOX emissions.
Importantly for the use and uptake of biofuels, GoodFuels meets the highest sustainability requirements, and its entire portfolio of biofuels are reviewed by an independent sustainability board.
This announcement comes at a critical time as the maritime industry faces an urgent need to reduce its Greenhouse Gas emissions and commit to sustainable shipping. Owners and operators, such as Eagle Bulk Shipping, are already required to meet the 0.5% sulphur limit as enforced in January 2020, and recently adopted regulation will require ships to improve their energy efficiency, in line with the IMO’s target to reduce the average carbon intensity of shipping by at least 40% by 2030, and 70% by 2050.
Sustainable biofuels are a leading contender for marine decarbonisation due to their drop-in characteristics, well-tuned infrastructure, and ability to enable stakeholders to comply with current and imminent environmental legislation. They are also one of the few solutions that already exist on the market today and are available for all vessel types.
About GoodFuels
GoodFuels is a Netherlands 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’ 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 has all its operations certified by RSB. GoodFuels 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.
About Eagle Bulk Shipping
Eagle Bulk Shipping Inc. is a U.S. based fully integrated shipowner-operator providing global transportation solutions to a diverse group of customers including miners, producers, traders, and end users. Headquartered in Stamford, Connecticut, with offices in Singapore and Copenhagen, Denmark, Eagle focuses exclusively on the versatile mid-size dry bulk vessel segment and owns one of the largest fleets of Supramax/Ultramax vessels in the world. The Company performs all management services in-house (including strategic, commercial, operational, technical and administrative) and employs an active management approach to fleet trading with the objective of optimizing revenue performance and maximizing earnings on a risk-managed basis.