MarinaChain Expands into Biofuel Brokerage via Singapore

MarinaChain, a leading provider of maritime digital solutions, has announced the launch of Korea's first B24 trading brokerage service through Singapore. This initiative is expected to serve as a critical turning point in accelerating decarbonization within the maritime industry.

B24 is a biofuel consisting of a blend of 24% used cooking oil methyl ester (UCOME) and 76% very low sulfur fuel oil (VLSFO). Recognized as a sustainable alternative to traditional marine fuels, this innovative fuel mix reduces greenhouse gas emissions while enabling the maritime sector to pursue sustainability and efficiency simultaneously.

Through this service, MarinaChain aims to leverage Singapore's robust financial and maritime network to support Korean shipping companies in trading and utilizing biofuel via the B24 platform. In particular, MarinaChain has partnered with Holt Global in Singapore to ensure the stable supply of B24 fuel and strengthen brokerage services, thereby enhancing the competitiveness of Korean companies in the global market.

"By collaborating with Singapore, we aim to provide an environment where Korean shipping companies can efficiently manage and trade biofuel," said Ha Sung-Yeop, CEO of MarinaChain. "The B24 trading service will play a pivotal role in enhancing sustainability within the maritime industry and achieving decarbonization."

The brokerage service goes beyond facilitating biofuel transactions by providing data-driven analysis and predictions to help companies establish long-term decarbonization strategies. MarinaChain plans to continue innovating to enable the maritime industry to achieve carbon neutrality more transparently and efficiently.

The successful launch of the B24 trading service is expected to strengthen MarinaChain's global presence while providing a solid foundation for Korean shipping companies to adapt to international regulations and achieve sustainable growth.

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