Toyota Tsusho performs 1st Singapore trial to sell, supply biodiesel to NYK Line’s oceangoing vessel
Toyota Tsusho Corp. announced June 29 that Toyota Tsusho Petroleum has sold biodiesel to Nippon Yusen Kabushiki Kaisha (NYK Line) and performed a trial of ship-to-ship bunkering June 11 for the bulk carrier Frontier Jacaranda operated by NYK Line at the Port of Singapore. This was the first attempt in the marine fuel industry to supply biofuel to Japanese companies’ oceangoing vessels in Singapore. The biodiesel supplied to Frontier Jacaranda was derived from waste cooking oil in Singapore, and this initiative contributes to the circular economy while creating a supply chain that is close to domestic production. The establishment of the procurement and regular use of biofuel, which are expected to reduce greenhouse gas (GHG) emissions at the Port of Singapore, the world’s largest marine fuel market, will help to shift towards a carbon-free society. The maritime transport industry, which accounts for about 2 percent of the world’s GHG emissions, is facing the issue of reducing GHG emissions, as the volume of maritime transportation is expected to continue increasing against the backdrop of growth of the global economy. In 2018, the International Maritime Organization adopted a strategy for reducing GHG emissions from ships and set a target of reducing GHG emissions by 50 percent compared to the 2008 level by 2050.
Moreover, the Japanese government has announced that it will reduce GHG emissions by 46 percent compared to the 2013 level by 2030 and achieve carbon neutrality by 2050, and is promoting a shift to marine fuels from heavy oil and light oil, which are petroleum-derived, to alternative fuels under its Green Growth Strategy. The movement toward decarbonization in the marine transport industry is accelerating through initiatives such as promoting conversion to alternative fuels.
Toyota Tsusho first announced it would conduct biodiesel trials in Singapore in April.