Neste unveils new co-processed marine fuel to help maritime sector cut emissions
Together with its Danish partner Nordic Marine Oil, Finnish oil refining and marketing company Neste is piloting a new Neste Marine 0.1 co-processed marine fuel in Scandinavia – a solution helping the maritime sector to reduce greenhouse gas (GHG) emissions.
As informed, the International Sustainability and Carbon Certification (ISCC PLUS) certified marine fuel enables up to 80 per cent GHG emission reduction over the lifecycle compared to fossil fuels without compromising the product quality and performance.
Accounting for 90% of world trade and 13% of global transport emissions, the shipping industry needs solutions to reduce its carbon footprint in a viable way in line with the targets of the International Maritime Organization.
“Maritime is one of the largest sources of transport emissions. We support shipping companies moving towards carbon neutrality and are introducing the Neste Marine 0.1 co-processed marine fuel with an immediate emission reduction impact,” Sveta Ukkonen, Head of Marine Fuels & Services at Neste, said.
Nordic Marine Oil specializes in the supply of bunker fuels and lubricating oil to the shipping industry. Its storage tanks and bunker barges are located in key ports across Denmark, where also the new marine fuel will be available as of May 2022.
“With extreme enthusiasm, we give our full focus on creating awareness for this low-emission marine fuel. Nordic Marine Oil has started to build its sustainability offering, and the co-processed marine fuel is our first step enabling the shipping industry to reduce its GHG emissions,” Steen Møller, CEO of Nordic Marine Oil, commented.
“For cargo owners and charterers, the product is an … opportunity to reduce CO2 emissions in transportation and reach their own climate targets. The emission reduction is immediate and the solution is easy to implement as the shipowners are not forced to make any investments or changes to the vessel engines. Our strong partnership with Neste gives us the opportunity to supply tomorrow’s fuels for the maritime industry already today.”
“The maritime sector is combating climate change by all available means. Our new co-processed marine fuel is a competitive and feasible solution for shipping companies, and also for cargo and brand owners looking to reduce their GHG emissions across their value chain,” Sveta Ukkonen explained.
“Based on the experiences gathered with Nordic Marine Oil, we will be expanding the availability of the product. The co-processed marine fuel is a strategic step for us to reduce the dependency on fossil resources by replacing crude oil based raw materials partly with renewable raw materials.”
Neste Marine 0.1 co-processed marine fuel is produced at Neste’s refinery in Porvoo, Finland, where renewable raw materials are co-processed with fossil raw materials in the conventional refining process.
The drop-in fuel can be taken into use without any fleet modifications as it has a similar composition to conventional bunker fuels.
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