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Blockchain-based bunker delivery recorded in Rotterdam

GoodFuels Marine reports that it has successfully completed what it claims is the world’s first bunker delivery and transaction using blockchain technology, in collaboration with Blockchain Labs for Open Collaboration (BLOC).

{mprestriction ids="1,2"}The delivery was made to a Samskip vessel via a REINPLUS FIWADO bunker barge in Rotterdam on September 7. The transaction was recorded using a blockchain distributed ledger rather than a traditional paper-based bunker delivery note (BDN).

Goodfuels says that use of the blockchain provides end-to-end traceability of the fuel supplied in marine bunkering transactions, from storage, to the barge or jetty, and on to the vessel’s fuel tank.

This bunker delivery also represents the first transaction for Maritime Blockchain Labs (MBL), a BLOC initiative supporting blockchain pilot projects that are conducted in collaboration with industry stakeholders, and was the first sustainable low carbon marine fuel delivery as part of the GoodShipping Program, which is part of MBL.

The GoodShipping Program requires shippers to commit to a reduction in their sea freight CO2 emissions by purchasing sustainable biofuels from traceable sources.

“For too long shipping has been reliant upon paper transaction notes when bunkering, which expose shipowners, shippers and charterers to the potential of being misled on the quality and quantity of fuel,” said Dirk Kronemeijer, CEO and Founder, GoodFuels Marine.

“At GoodFuels, we are always striving to break convention – not for the sake of it, but because in this era there is no technological barrier to providing customers better assurance.”

“In addition, for GoodFuels Marine as the world’s first supplier of sustainable ‘drop-in’ marine biofuel, we realise we have to go beyond current standards to ensure traceability. This transaction – the first of many to come – shows the confidence we have in delivering ‘on spec’, sustainable low carbon fuel.”{/mprestriction}

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