Vopak to convert part of Singapore Sebarok terminal for marine biofuel blending

Koninklijke Vopak NV

26/02/2024 02:53

SINGAPORE, Feb 26 (Reuters) - Tank storage firm Vopak
 VOPA.AS  said on Monday it will repurpose part of its Sebarok
terminal in Singapore for clients to blend and store marine
biofuel.   
    Vopak has conducted biofuel trials with customers since 2022
and the terminal's existing pipeline system has been converted
to enable biofuel blending.
    The plan will help more biofuel companies enter the market
and accelerate the decarbonisation of the shipping industry, 
Rob Boudestijn, president of Vopak's Singapore business unit,
said in a statement. 
    Some 40,000 cubic metres of capacity will be allocated.
    The Sebarok terminal is located close to Singapore's eastern
anchorage, where a large part of bunkering activity takes place.
Singapore is the world's top bunkering hub.
    Demand for marine biofuel has increased with shippers
conducting trials in recent years.
    The Dutch company said it has set aside 1 billion euros to
invest in new energy sources and sustainable feedstocks by 2030.
This will include investments in developing new infrastructure
solutions for low-carbon and renewable hydrogen and long-term
energy storage.  

    ($1 = 0.9246 euros)
    

 (Reporting by Jeslyn Lerh; Editing by Edwina Gibbs)
 ((jeslyn.lerh@thomsonreuters.com))