The International Maritime Organization (IMO) expects carbon dioxide emissions from shipping to rise between 50% and 250% by 2050 if no action is taken, due to the growth of the world maritime trade. The pursuit of CO2 reductions will pose the next challenge for the shipping industry and bring about a new wave of regulatory changes.
Biofuels will be part of the long-term solution. Renewable diesel from waste raw material is one of the most cost-competitive in reducing CO2 emissions. Biofuels can help companies—their business as well as their customers—prepare for the zero emission challenge and the ensuing wave of regulation. They function as sustainability as a service.
There are three main biofuel alternatives in the markets. First is HVO, or hydrotreated vegetable oil, mainly produced from waste and residues such as used vegetable oils and animal fats. Next is trans-esterified fuel such as FAME, or fatty acid methyl esters. The third is crude biofuel, such as those made from soya, rapeseed, palm oils, fish fat, UCO, etc. There are also several niche solutions, to be used in a particular type of vessel in a particular market, but a lack of technically ISO 8217 compliant mature ones.
Neste has done this before
Neste's renewable products offer solutions for reducing the carbon footprint in the road transport, aviation, and plastics and chemical industries. Our reliance on strong R&D, technology, engineering, business development and partnerships has enabled us to build a strong track record and become the third most sustainable company in the world on the Corporate Knights' Global 100 list.
As low carbon shipping turns from today’s ambitions to tomorrow’s reality, we will continue to offer our expertise to enable the marine sector to meet 2050 targets and, along with our partners, set the course for a cleaner future at port.