OOCL to Reduce Emissions with Biofuel
Hong Kong headquartered ocean carrier Orient Overseas Container Line Ltd. (OOCL) said it is running its ships biofuel as a means to reduce emissions from its operations.
The company, which has been using biofuel on some of its vessels since 2023, said it has partnered with customers IKEA and Kyocera for the most recent trial voyage, which commenced 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.
By substituting fossil fuels with biofuels, OOCL aims to lower carbon emissions in shipping, viewing it as a practical step towards long-term decarbonization goals. The carbon reductions achieved during this voyage will be credited to the participating partners, thus lowering the carbon footprint associated with their cargo.
Each partner will receive a Green Certificate as proof of the carbon savings achieved through the use of biofuel. This certification process is verified and managed by the Global Shipping Business Network (GSBN), a non-profit blockchain consortium. The carbon savings are tracked via blockchain technology, ensuring an accurate and unalterable record. OOCL employs a Well-to-Wake approach to evaluate the complete lifecycle carbon emissions, from fuel production through to its consumption in ship operations.
Michael Xu, Director of Trades at OOCL, said, “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. 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.”