On January 28, BSR held a ceremony to mark the trial sale of its Sustainable Marine Fuel Oil (SMFO). This “green” fuel product plays a practical and meaningful role in both Vietnam’s and the global maritime transport sectors.

The ceremony was attended by Mr. Bui Ngoc Duong - Chairman of the Board of Directors; Mr. Nguyen Viet Thang - President & CEO; along with members of the Board of Directors, the Executive Management Board, the Management Board of Dung Quat Refinery, and leaders of functional divisions. Representatives from partners and related units, including PVOIL and PVTrans, also attended the SMFO product launch ceremony.

In recent years, BSR has actively promoted research, production, and diversification of environmentally friendly product lines. Notably, the Company has successfully developed and commercialized products such as Sustainable Aviation Fuel (SAF), E10 bio-gasoline, and B5/B10 bio-diesel. More recently, BSR has expanded its research into marine fuels - an area that plays a critical role in the roadmap for emission reduction and energy transition.

The maritime sector is currently under increasing pressure to transition to low-emission fuels in line with the greenhouse gas reduction strategy of the International Maritime Organization (IMO) toward 2050. In Vietnam, emission reduction in the maritime sector is laying a green foundation for policies that promote research and development of sustainable marine fuels. This is considered one of the feasible short- and medium-term solutions to fulfilling the country’s greenhouse gas emission reduction commitments.

Recognizing its responsibility and the inevitable trend of green transition, BSR has proactively researched and developed SMFO by maximizing the use of existing infrastructure at Dung Quat Refinery. At the same time, the Company has applied advanced technical and management solutions to reduce the carbon intensity of marine fuels while ensuring quality standards and engine operability.

Specifically, BSR has screened and selected sustainable blend components derived from recycled sources, such as tire pyrolysis oil (TPO) and plastic pyrolysis oil (PPO), for SMFO blending. Concurrently, the Company has reviewed and adjusted the existing technical configuration of Dung Quat Refinery to enhance operational flexibility, meeting product supply demands via both sea and road transportation. Quality control systems, internal standards, and testing procedures have also been established and implemented in a synchronized manner, ensuring that SMFO meets technical requirements and aligns with international practices for low-emission fuels.

Importantly, BSR has completed technical preparations for commercial-scale production and market introduction of SMFO. The product is targeted at partners and customers in the maritime transport sector seeking sustainable marine fuel solutions, thereby supporting their greenhouse gas emission reduction commitments. Currently, BSR is capable of supplying an average volume of 12,000 - 15,000 tons of SMFO per month, ensuring stable and continuous market supply.

SMFO is the latest environmentally friendly product researched, developed, and produced by BSR, following SAF, E10 bio-gasoline, and B5/B10 bio-diesel.

According to Mr. Cao Tuan Si – Director of Dung Quat Refinery, SMFO represents a suitable and feasible transitional solution under current conditions, enabling emission reductions in the maritime sector without requiring significant changes to infrastructure or technology. He emphasized that SMFO will be progressively optimized in terms of production scale, supply chain development, and supporting mechanisms and policies to stabilize and optimize costs. He also highlighted the importance of close coordination among fuel producers, shipping companies, customers, and state management agencies to harmonize environmental objectives with economic efficiency in the commercialization of SMFO.

“Today’s event not only affirms BSR’s research capabilities, technological mastery, and production management capacity, but also marks an important starting point in forming a sustainable marine fuel supply chain in Vietnam - from research and production to quality control and market distribution. In the next phases, BSR will continue optimizing technology, expanding production scale, and strengthening cooperation with domestic and international partners, aiming to sustainably develop a portfolio of low-emission fuel products, in which SMFO serves as a key pillar for the maritime sector,” Mr. Cao Tuan Si stressed.

On the afternoon of January 28, at Chu Lai Port, the first trial shipment of SMFO from Dung Quat Refinery was successfully delivered and bunkered into a vessel of PVTrans. The successful sale and receipt of this first SMFO batch not only demonstrates the product’s practical feasibility but also lays a solid foundation for BSR to gradually commercialize sustainable marine fuel, meeting the growing demand of domestic and international markets and contributing to the green energy transition in maritime transport.

BSR