Eagle Bulk Shipping partners with 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.

Environmental performance

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.

Advanced biofuels from certified renewable feedstocks

GoodFuels’ advanced biofuels are produced from certified renewable feedstocks labeled 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 is 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% sulfur 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

Marine decarbonisation

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. Commenting on the successful bio-bunkering, Isabel Welten, Chief Commercial Officer at GoodFuels, said: “It’s an honour to work with Eagle Bulk Shipping as a fellow passionate environmental frontrunner that is exploring an innovative and sustainable pathway to shipping’s decarbonisation transition by bunkering our sustainable marine biofuels.

Commenting on the successful bio-bunkering, Isabel Welten, Chief Commercial Officer at GoodFuels, said: “It’s an honour to work with Eagle Bulk Shipping as a fellow passionate environmental frontrunner that is exploring an innovative and sustainable pathway to shipping’s decarbonisation transition by bunkering our sustainable marine biofuels."

“This announcement is the latest step in scaling our low-carbon biofuels for wider commercial use within the maritime industry. With our ambition to become the principal sustainable fuel supplier for the global transport industry and our offer of mature 100% biofuels, GoodFuels is perfectly positioned to facilitate the energy transition for owners and operators."

“We hope more organisations will follow Eagle Bulk Shipping’s footsteps in embracing our credible near-zero carbon alternative to fossil fuels, as the industry steps up its efforts to meet its environmental regulatory targets in the near future.”

Jonathan Dowsett, Director of Fleet Performance at Eagle Bulk Shipping, said: “Eagle continues to actively explore ways to decarbonize its fleet while maximizing efficiency in line with international targets to reduce carbon intensity and absolute emissions from shipping. We are extremely pleased with the results of our first biofuel-powered test voyage and look forward to working with GoodFuels in the future.”