French shipping major CMA CGM is seeking marine biofuel for term delivery in Singapore, the world's largest bunker hub, between January and December 2025, according to market sources.
The company has been one of the top lifters of marine biofuel in Singapore this year, and is expanding its lifting period from half-year term supply this year to full-year supply next year, the sources said.
It is looking to lift a monthly volume of 35,000 to 50,000 metric tons of the B24 blend, which comprises 24% used cooking oil methyl ester (UCOME) biofuel blended with conventional fuel. The tender closes on Dec. 16, the sources added.
The shipping industry has been exploring lower-carbon marine fuels to meet carbon emission reduction targets set out by the International Maritime Organization.
Sellers are also banking on the FuelEU maritime regulation, which comes into effect next year, to spur more demand for lower-carbon marine fuels.