Baltic Exchange adds green fuels to voyage tool

The newly added options include biodiesel, bio-LNG, bio-LPG, green methanol, green hydrogen and green ammonia, available either as pure fuels or blends.

“Green fuels are expected to be very expensive initially, so will likely be blended into fossil-derived fuels initially, to achieve compliance with the new FuelEU Maritime regulation,” explained Martin Crawford-Brunt, emissions lead at Baltic Exchange.

The FuelEU Maritime calculator provides insights into how switching fuels impacts voyage costs, based on ship type and route.

The update will allow users to assess the cost implications of more sustainable fuel choices compared to the Baltic standard for specific routes.

The calculator predicts that a 115,000 dwt LR2 clean tanker on the TC20 Baltic route (Al Jubail – Rotterdam) operating at 11 knots, could save almost US$30,000 in fuel costs by using a 35% biodiesel (B100) blend instead of standard VLSFO.

While fuel costs may rise, compliance with the FuelEU Maritime regulation leads to savings that offset the higher fuel prices. The calculator highlights how increasing the biodiesel blend further enhances savings over traditional VLSFO usage.

“Baltic Exchange is assisting the market by cutting through the considerable complexity of these regulations by providing a simple decision-making tool that estimates the voyage costs of the many fuel and blend alternatives quickly and simply,” said Crawford-Brunt.