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OOCL FORGE PARTNERSHIPS TO ADVANCE LOW-CARBON SHIPPING WITH BIOFUEL
August 28, 2024
Orient Overseas Container Line Ltd. (OOCL) and its partners have come together to promote low-carbon shipping by choosing cleaner fuel to reduce emissions in the supply chain.
The first voyage, involving several partners such as IKEA and Kyocera, began in early August.
The fuel used on the voyage is a B24 biofuel blend, with ISCC certified Used Cooking Oil Methyl Ester as a component in the VLSFO. Replacing fossil fuel with biofuel can reduce carbon emissions in shipping and is considered a viable transitional solution towards long-term decarbonization goals.
The amount of carbon saved on this voyage will be attributed to these partners, reducing the carbon footprint of the cargo.
OOCL said a "Green Certificate" will be issued to each of these partners as a credible certification of the saved carbon emissions by opting for biofuel.
The process is verified and powered by Global Shipping Business Network (GSBN), a non-profit blockchain consortium.
Carbon emission savings calculation and allocation are tracked by blockchain, with a traceable and immutable record.
OOCL said it uses the "Well-to-Wake" approach to comprehensively measure the lifecycle carbon emissions, from the production of fuel to its consumption in ship operation.
OOCL has started using biofuel on some of its vessels since 2023 as one of the company’s strategies to advance with the transition towards decarbonization.
Promoting the use of biofuel in low-carbon shipping with partners has not only further demonstrated the company's commitment to decarbonizing the ocean shipping industry but also its determination to provide first-class shipping services to partners.
"Working with partners on low-carbon shipping is definitely a very important milestone in OOCL’s environmental and sustainability journey that enables both OOCL and our partners to advance towards their own decarbonization roadmap. I would like to thank our partners, such as IKEA, Kyocera and several others, for their trust and support in OOCL and for their participation in the first voyage," said Michael Xu, director of trades at OOCL.
"We are keen to establish additional long-lasting sustainability collaborations with all our partners and stakeholders to reduce emissions along the supply chain and to create a greener future together," he added.
