THE Baltic Exchange has added green fuel options to its FuelEU Maritime voyage and compliance cost calculator as more shipowners, traders and charterers seek them out.

It has added biodiesel, bio-LNG, bio-LPG, green methanol, green hydrogen and green ammonia to the free tool to help the market predict the voyage cost of different blending options.

The FuelEU calculator provides a cost overview of each option relative to the Baltic standard for that route (generally very low sulphur fuel oil for navigation outside of emissions control areas, and marine gasoil in for waiting and in-port consumption).

Baltic Exchange emissions lead Martin Crawford-Brunt said green fuels would be very expensive initially, so operators would blend them with fossil fuels to comply with the EU fuel standard.

“Baltic Exchange is assisting the market by cutting through the considerable complexity of these regulations by providing a simple decision-making tool that estimates the voyage costs of the many fuel and blend alternatives quickly and simply,” he said.

Crawford-Brunt said contracting parties, their brokers and traders needed to be able to estimate the added costs of FuelEU and the EU ETS quickly to avoid hefty financial penalties.