Five years after launching one of the industry’s leading bunker information and news platforms, ENGINE, which counts a number of large well-known industry players among its long-time users, has today announced the launch of a new worldwide marine fuel trading service. The decision to expand into trading, it says, comes after witnessing the difficulties clients frequently face when executing trades, in a market that has become increasingly fraught and fragmented.
Sid Mishra, Supply Manager of ENGINE X, explained: “This decade will see unprecedented changes in the energy sector, as the industry gradually transitions towards a low- and zero carbon future. With its extensive knowledge base and real-time data, ENGINE X will be strategically placed to assist its customers with all their present and future energy needs.”
What used to be two main fuel grades has now become a handful of fuel types and grades, with a kaleidoscope of new renewable options to explore. Fossil bunker fuels have been joined by biofuels, green methanol, bio-LNG and hydrogen. Bunker demand for these alternative fuels is set to grow rapidly from a small base as global and regional environmental regulations will make it progressively more expensive to stick with the fossil fuels. These fuels come with wide variations in calorific contents and combustion performances and knowing them well can be make or break for clients, who are grappling with controlling costs whilst also trying to remain compliant with increasingly stringent regulations.
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ENGINE X builds on the data on the ENGINE platform but recognises that some things seldom change: human bunker buyers want to deal with other human bunker traders, all the way through from the point of enquiry to successful bunker delivery.
“Introducing the human aspect of trading was the natural progression for ENGINE,” Mishra continued.
Now, ENGINE X is servicing all main ports in the world from its core offices in Dubai and Singapore, with more office locations due to open in London, Houston and Athens in 2024. As well as supplying the usual bunker fuel grades, the team will leverage its expertise and connections in the alternative fuels space, with biofuels and LNG key fuels to focus on initially.