Marine Fuels Assurance Pilot
Client: Lloyd’s Register Foundation
Deliverables: Developed and validated a prototype to demonstrate digital chain of custody of the quality of marine fuel from terminal to vessel.
In this lab, we set out to solve the problems of paper based processes, fuel contamination and the lack of availability of data on the quality of marine fuels. To do this, we developed a blockchain based digital bunker delivery note for the marine fuel supply chain to enter and review details of fuel transactions and transfers between terminals, bunker barges, and receiving vessels. This provided an overview of verified information on fuel specifications, fuel analysis, transfer documents and signatures to create the end-to-end digital chain of custody on the quality of marine fuels.
This prototype offered a means to help provide greater confidence in the purchase of marine fuel, ultimately resulting in reduced safety risk and creating a more trustworthy framework for accurately monitoring emissions from shipping and comply with global regulations such as the IMO 2020 Sulphur Cap.