NYK joins Singapore-based maritime decarbonization initiative Ship’s crew

Reuters

SINGAPORE, July 4 (Reuters) – Japan’s leading shipping company NYK has signed a five-year deal with the Global Center for Maritime Decarbonization (GCMD) to collaborate on low-carbon solutions for shipping.

NYK will join the GCMD as a strategic partner, having previously conducted biofuel trials and launched ammonia bunkering projects, the center said in a statement on Tuesday.

NYK’s ongoing ammonia bunker projects include retrofitting an LNG-powered tugboat with an ammonia-powered engine, which is expected to begin operations in 2024.

It was also the first Japanese shipper to receive approval in principle for an ammonia bunker ship and aims to deliver an ammonia fueled gas tanker by 2026.

NYK conducted a biofuel bunker trial in February using a fuel composed of 24% biofuel (B24) and a very low sulfur fuel oil.

The trial is the second of five supply chains to be piloted with GCMD and paves the way for a cost-benefit analysis of green premiums in the use of biofuels.

The GCMD, a Singapore-based non-profit organization, aims to help the shipping industry avoid greenhouse gas emissions by setting standards for future fuels and piloting low-carbon solutions, its website says.

(Reporting by Jeslyn Lerh; Editing by Varun HK)

(c) Copyright Thomson Reuters 2023.

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