GoodFuels Marine and Blockchain Labs for Open Collaboration (BLOC), have successfully completed the world’s first bunker delivery and transaction using blockchain technology.
The delivery was made to a Samskip vessel through a Reinplus Vanwoerden bunker barge in Rotterdam on September 7th. The delivery is part of the GoodShipping Programm and was its first sustainable low carbon marine fuel delivery. The program requires shippers to commit to a reduction in their sea freight CO2 emissions by purchasing sustainable biofuels.
As GoodFuels said, blockchain is a decentralised, distributed and public digital ledger, which provides end-to-end traceability of marine bunkering transactions from storage, to the barge or jetty, and on to the vessel’s fuel tank, increasing assurance to shipowners, shippers and charterers.
The landmark also represented the first transaction for Maritime Blockchain Labs (MBL), an initiative by BLOC of blockchain pilot projects carried out in collaboration with blockchain practitioners and industry actors.
Commenting on the occasion, Deanna Macdonald, CEO, BLOC, stated that this project allows to validate the value of blockchain technology in the marine fuels supply chain, as well as identify incentives to make sure that users add correct information into systems, and that any technology and systems can be used as widely as possible.
Anniek Sluis, Growth Accelerator, GoodShipping Program, mentioned:
For the GoodShipping Program, it is vital we show shippers that we can guarantee the delivery of truly sustainable fuels in a reliable, traceable and transparent way. Blockchain has the benefits to serve as a tool to increase end-to-end traceability in the supply chain of biofuels, which is vital for our program participants.