NYK Participates in Marine Biofuels Data Collection and Analysis Project Aiming to Establish Transparency in the Biofuels Supply Chain

NYK and Astomos Energy Corporation participated in a marine biofuel demonstration project launched by the Global Center for Maritime Decarbonization (GCMD), a non-profit organization aimed at promoting the decarbonization of the maritime industry.
Biofuels for ships
Biofuels can be used without remodeling the ship’s existing engines and infrastructure. Additionally, although biofuels generate CO2 when burned, they are considered carbon neutral because they are made from plants and used cooking oil. Thus, biofuels should be one of the most promising next-generation fuels for decarbonization.

On the other hand, since biofuels have not been put into practice for good, many data checks, such as the mixing ratio with conventional fuels, are still necessary.

Also, because biofuels use fossil fuels in their production and transportation processes, they are not considered net zero emissions in the LCA*. Additionally, the certification system is not internationally standardized, so transparency of the biofuel supply chain is also an issue.

Presentation of the GCMD project
GCMD is a non-profit organization (NPO) established in August 2021, founded by the Maritime and Port Authority of Singapore (MPA) and 6 industry partners. It initiated this project to establish an assurance framework to ensure the integrity of the supply chain for current and future green marine fuels, bringing real benefits to end users and the climate.

Eighteen companies and organizations, including NYK and Astomos, are participating in this project, and demonstration trials will be conducted with an investment scale of approximately US$18 million. One of the objectives is to establish transparency in the biofuel supply chain through the use of tracking technologies, so this project is characterized by the participation of shipping companies as consumers. Specifically, shipping companies will conduct a trial operation using biofuels and provide data on their biofuel use to GCMD. By facilitating and creating an optimized supply chain for green fuels, this pilot project will help shape national and international biofuel standards for the marine industry and reduce barriers to their wider adoption to reduce GHG emissions. from a life cycle perspective.

Image of the LNG carrier: Gas Capricorn

Please refer to the following URL for a new version announced by GCMD.
https://www.gcformd.org/press-release-dropin-biofuel

NYK and Astomos Future Initiatives
NYK and Astomos plan to supply biofuels to the NYK-owned LPG carrier chartered by Astomos for trial operation as part of this project effort.

On February 3, 2021, NYK released the “NYK Group ESG Story”, which aims to further integrate ESG into the company’s management strategy and promote activities that contribute to the achievement of the SDGs through Commercial activities. On March 24, 2022, NYK published the “NYK Group ESG Story 2022” update, which outlines initiatives for integrating ESG into the Group’s management strategies presented in the “NYK Group ESG Story” and provides a partial explanation of the Group’s sustainable growth strategy. in a long-term perspective.

In addition, NYK has defined “Sail GREEN” as the company’s ESG brand that emphasizes NYK’s efforts to reduce GHG emissions through freight transportation and contribute to environmentally responsible supply chains. customers, regardless of the mode of transport (e.g. by sea or land, via terminals, etc.). This initiative is one of them. The NYK Group will promote the creation of new values ​​as a “sustainable solutions provider” to strongly promote ESG management.
Source: Nippon Yusen Kaisha

Comments are closed.