Four Japanese Companies Form Consortium for Eco-Friendly VLCCs Concepts
Idemitsu Tanker, IINO Kaiun Kaisha (IINO Lines), Nippon Yusen Kabushiki Kaisha (NYK), and Nihon Shipyard have established a consortium to conduct joint research and development of design concepts for Malacca Max-type very large crude oil carriers (VLCCs).
The design concepts, including machinery and environment equipment, will be developed with a view of reducing greenhouse gas (GHG) emissions, the consortium that was initiated by Idemitsu Tanker said.
Aiming to reduce emissions by 40% or more compared to previous levels, the consortium will combine expertise in the four companies’ respective fields to verify/select the effectiveness of next-generation fuels and environmentally friendly equipment, as well as create design concepts, with a view to ultimately building and operating VLCCs.
Malacca Max is the largest vessel type capable of passing through the Strait of Malacca, a major shipping route of crude oil between Japan and the Middle East.
Decarbonization has become a significant global issue, but a stable supply of crude oil remains essential to the energy needs of Japan, which relies on the Middle East for more than 90% of the nation’s crude oil imports.
VLCCs transporting crude oil are thus vital to Japan’s economy. To minimize greenhouse gas emissions generated during transportation, shipping companies are considering switching from conventional fuels to next-generation fuels and installing environmentally friendly equipment, such as Carbon Capture and Storage Systems (CCS), among other measures.