Hyundai GLOVIS partners with GoodFuels on first biofuel bunkering for a Korean flagged PCTC vessel

Rotterdam – 28 March 2023: GoodFuels, the leading biofuels provider for the global transport industry, has announced the successful completion of a first biofuel bunkering in collaboration with Hyundai GLOVIS, a global total logistics and distribution company. The bio-bunkering is the first for a Korean-flagged PCTC (Pure Car and Truck Carrier) vessel and marks a new milestone for Hyundai GLOVIS as biofuels take a central role in the company’s sustainability strategy.

The vehicle carrier GLOVIS SUNRISE was refuelled with 500 MT of GoodFuels’ sustainable biofuels blend MDF1-30 during a port visit to Vlissingen (Flushing), in the Netherlands, on 28 December 2022. The trial took place during the vessel’s voyage between Europe and the Persian Gulf, ending in late January.

GoodFuels’ next-generation sustainable biofuel is produced from feedstocks that are certified as 100% waste or residue, including processed used cooking oil and animal waste fats. It delivers a well-to-exhaust CO2 reduction of 80 to 90 percent when compared to its fossil fuel equivalent. Thanks to its “drop in” properties, the biofuel was delivered to and consumed by the GLOVIS SUNRISE without requiring any modifications to the engine or tanks.

This successful bio-bunkering demonstrates Hyundai GLOVIS’ commitment to deliver low-carbon transport solutions and is part of its global sustainability strategy. The company is committed to reducing greenhouse gas emissions from its fleet of 153 vessels, improving its capabilities for green logistics and expanding the utilization of sustainable and renewable energy sources.

Dirk Kronemeijer, CEO of GoodFuels, said: “This first bio-bunkering in collaboration with Hyundai GLOVIS marks an exciting milestone towards decarbonised maritime transport and more sustainable supply chains. It also shows the central role that biofuels can play in reducing shipping’s carbon footprint today, as a safe, convenient and technically viable option to slash emissions from commercial vessels by up to 90%.

“We are delighted to see biofuels being adopted as a decarbonisation solution in more regions of the world, as this first bio-bunkering for a Korean vessel demonstrates. The climate emergency demands action now, and we are glad to be working with pioneers like Hyundai GLOVIS who are walking the talk of sustainable transport with concrete action.”

Commenting on this first bio-bunkering Tae-Woo KIM, Senior Vice President, Head of Shipping Business Division, at Hyundai GLOVIS said: “In a fast-evolving business environment, we are committed to continuously innovate to deliver greater sustainability across our logistics and shipping activities. This means exploring a number of options to decarbonise our fleets, today and in the future. As we strive to provide efficient and sustainable maritime transportation to global automotive manufacturers, including Hyundai Motor Group, Kia, and Volkswagen, we are delighted to see the results of this biofuels trial, which shows that tangible emissions reductions can be achieved today on existing fleets. Biofuels will also play a key role in our future strategy, as we continue to develop a maritime transportation system tailored to the green supply chains of the future.”

Notes to editors

About GoodFuels

GoodFuels is a Netherlands-headquartered global pioneer in sustainable marine fuels, with offices in Europe and Singapore. 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 cargo owners. 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 decarbonization solutions for the global transport industry.

About Hyundai GLOVIS

As a global total logistics and distribution leader in Korea, Hyundai GLOVIS offers optimal services as well as strategies and processes that cover the entire logistics process while growing together with the customers. Despite the recent global economic crisis, we have been growing steadily every year with our best-in-class experts and cutting-edge technology systems. We fulfill our responsibilities and obligations as a global top-tier SCM provider through our continued investment in infrastructure and engagement in social responsibility activities.

As a faithful member of our society, Hyundai GLOVIS puts in all our effort even at this moment to create a brighter future for all. Every year, we publish our sustainability report to share our financial, environmental and social performance with our internal and external stakeholders. We were also honored to become the first Korean logistics company to be incorporated into the Dow Jones Sustainability Index (DJSI) World Index, which measures the sustainability performance of global companies. In addition, we are engaging in sustainability management activities and creating outcomes in a variety of areas, including becoming the first Korean logistics company to declare support for the TCFD, establish eco-friendly scrapped ship policy, and support the UNGC.