• 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.




2020 July 8

18:11 Carnival Cruise Line sets ship delivery changes and related deployment plans
17:50 POWERGLOBE seeks for 10 years LNG vessel charter-agreement
17:27 Maritime partners unveil Autonomous Guard Vessel
17:03 THE Alliance announces COVID-19 response measures for August 2020
16:48 SaR operation in Singapore: man overboard incident
16:20 Throughput of Rostov-on-Don port in 6M’2020 grew by 10% Y-o-Y
16:13 Maritime industry calls for EU political leadership on seafarers
15:23 Port of Antwerp total throughput down by 4.9% in H1 2020
14:03 Wärtsilä introduces the system, designed to reliquefy boil-off gas onboard gas carriers and LNG bunker vessels
13:45 RF State Duna adopts a package of laws on privileges in the Arctic
13:12 PD Ports wins major pipeline contract with Global Manufacturer at Hartlepool
12:44 DCSA publishes standards for digital exchange of operational vessel schedules
12:18 Germany takes over HELCOM chairmanship
12:11 Seanergy Maritime announces agreement to acquire a Capesize vessel with prompt delivery
11:55 Russian Fishery Company fleet renewal to reduce carbon footprint by 50%
11:29 Pella Shipyard delivers patrol boat of Project 03160
11:04 Austal delivers first of two 118 metre trimarans to Fred. Olsen Express
10:43 Barcelona Cruise Port obtains the 'Safe Travels' Stamp, as safe infrastructures preventing COVID-19
10:32 Throughput of Rosterminalugol in HI’2020 grew by 10% YoY
10:04 ESPO says EU Taxonomy should align with already defined sectoral sustainability criteria
09:40 Oil prices continue decreasing
09:37 MABUX: Bunker market this morning, July 08
09:23 Bunker prices rose at the Port of Saint-Petersburg, Russia (graph)
09:08 Baltic Dry Index as of July 7

2020 July 7

18:06 ZIM unveils new digital services
17:49 Great Arctic Regatta started in Saint Petersburg
17:27 Crude exports via Kozmino in HI’2020 grew by 5% YoY
17:02 Deepsea Atlantic drilling rig returning to Johan Sverdrup
16:35 Optimarin successfully completes IMO G8 and USCG test programme
16:12 Alfa Laval takes its service offer to the next level through remote service guidance
15:56 New ferry line Baltic Link launched at the port of Riga
15:28 RF Government allocates RUB 320 million to subsidize shipping companies
15:02 ABP delivers project cargo using North Lincolnshire’s waterways
14:32 Air Liquide and the Port of Rotterdam Authority launch initiative for hydrogen road transport
14:02 Konecranes to deliver mobile harbor crane to new terminal in Trieste
13:46 Bunker prices rise at the Far East ports of Russia (graph)
13:32 KNOT concludes long-term charter contract with PetroChina for shuttle tanker
13:11 CMA CGM announces GRR from Asia to West Africa
12:49 Throughput of Vostochny Port in HI’2020 grew by 6% YoY
12:30 GTT Training and Wavelink Maritime Institute in collaboration to deliver LNG training in Singapore
12:23 Tom Hautekiet becomes new CEO Port of Zeebrugge
12:01 IMO endorses guidance on ensuring seafarers’ access to medical care onshore
11:58 NRP facilitates long-term financing for a newbuilt arctic container vessel
11:00 The CMA CGM Group simplifies its trade network on the Transpacific trade
10:52 First jacket successfully installed at Moray East, Scotland’s largest offshore wind farm
10:52 Aker Arctic joins ePIcenter project
10:14 MABUX: Bunker market this morning, July 07
10:08 Zvezda shipyard starts steel cutting for nuclear-powered icebreaker Rossiya, Project 10510
09:31 Oil prices are decreasing
09:13 Baltic Dry Index as of July 6
08:40 Klaveness Combination Carriers secures the first sustainability linked bank financing in Norwegian shipping

2020 July 6

19:07 Equinor awarded framework contract for engineering and installation services on Statfjord
18:27 CMA CGM to launch Round the Africa service
18:07 APM Terminals Buenos Aires facilitates first ever export of lemons from Argentina to China
17:31 Northern Sea Route cargo traffic in 6M’2020 reached 14.8 million tonnes
17:30 Kloosterboer starts construction of Cool Port II at City Terminal Rotterdam
17:06 ArcelorMittal issues invitation to tender for heat network in North Sea Port
16:45 Damen delivers five zero emissions propulsion ferries to Arriva in Copenhagen
16:12 Kvaerner improves financial results and outlook
15:32 Average wholesale prices for М-100 HFO fell to RUB 9,623 in RF spot market