Blockchain fuel tracking tool BunkerTrace launches commercially

22 October 2019 (Last Updated October 22nd, 2019 11:42)

A blockchain and DNA-based fuel tracking solution BunkerTrace has launched commercially to offer increased transparency in the marine fuel supply chain.

A blockchain and DNA-based fuel tracking solution BunkerTrace has launched commercially to offer increased transparency in the marine fuel supply chain.

BunkerTrace combines synthetic DNA tracers and blockchain to manage marine fuel risks by creating a transparent chain of custody.

The launch of the technology follows a successful trial in the Netherlands that was conducted in collaboration with maritime industry association Cooperative Bebeka.

Boskalis-owned dredger Prins der Nederlanden was used to test the solution.

The solution adds DNA markers to fuel in the supply chain and records each transaction in a blockchain-based system.

The integration of blockchain and DNA provides an immutable audit trail that follows the fuel and any changes made to it. It also records all actions of the operators transacting the fuel.

Cooperative Bebeka general director Harry Vasse said: “CSR reporting takes place at boardroom level since company reputation is at stake.

“With the product portfolio in the marine energy market becoming increasingly complex and diverse, in the near future our focus is on expertise and continuously developing of member protection tools, and this is why we fully support the BunkerTrace initiative.

“Combining these two revolutionary technologies will provide the Cooperative and its members with an independent and transparent method for managing fuel quality throughout the bunker chain. Furthermore, it will support us in identifying the most reliable and trustworthy supply chains and streamline compliance.”

The blockchain solution also traces interactions that occur on a human-to-human level. It helps to track fuels and prevent non-compliant or contaminated marine fuels from being used on vessels.

BunkerTrace enables the ship crew to check fuel before it is bunkered, reducing dependence on lab trials.

Currently, BunkerTrace is available for integration by ports, bunker suppliers and vessel operators.