As of May 2023, Finland-headed oil refiner and renewable products major Neste Oyj two bulk tankers transporting Neste’s renewable diesel (aka HVO) from Finland to Sweden will be fueled with Neste Marine 0.1 Co-processed, a lower-emission marine fuel produced at Neste’s Porvoo refinery in Porvoo, Finland.
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Over 90 percent of the world’s trade is carried by sea, making maritime transport essential to the global economy.
The International Maritime Organization (IMO) has set ambitious targets for the maritime sector to reduce its emissions to combat climate change.
As of May 2023 onwards, two tankers transporting Neste’s renewable diesel (aka HVO) from Finland to Sweden will be fueled with lower-emission marine fuel, namely “Neste Marine 0.1 Co-processed”.
We are committed to working with our suppliers and partners to reduce emissions across our entire value chain. Powering two tankers transporting our renewable diesel with marine fuel to reduce greenhouse gas emissions is yet another step towards reaching our sustainability targets, said Markku Korvenranta, EVP for Oil Products business unit at Neste.
ISCC PLUS certified
Neste Marine 0.1 Co-processed is an International Sustainability and Carbon Certification (ISCC PLUS) mass balance certified marine fuel and a lower-emission solution for marine professionals, including cargo owners and charterers.
According to Neste, its use enables up to 80 percent lower greenhouse gas (GHG) emissions of the bio-based share of the product over the fuel’s life cycle compared to fossil fuel calculated in accordance with the EU Renewable Energy Directive II (EU)2018/2001.
Our aim is to support shipping companies in their transition towards carbon neutrality. A year ago we introduced Neste Marine 0.1 Co-processed marine fuel to the market. The fuel is now commercially available in Finland and Denmark. As a part of Neste’s target to reduce emissions across our value chain, we have now started transporting our renewable diesel to Sweden in two tankers that run on lower emission marine fuel themselves, said Sveta Ukkonen, Head of Marine Fuels & Services at Neste.
Produced in Porvoo
The tankers Suula and Kiisla will be using the Neste Marine 0.1 Co-processed marine fuel produced at Neste’s refinery in Porvoo, Finland.
At the refinery, renewable raw materials are processed together with fossil raw materials in the conventional refining process.
Co-processing raw materials enables control over quality throughout the entire process and results in a product with composition and performance similar to conventional marine fuels.
Emissions reduction across the value chain
Neste is committed to working with its suppliers and partners to reduce the indirect GHG emissions across Neste’s entire value chain (Scope 3), including the transportation of its products.
By the end of 2022, Neste had switched four vessels to more energy-efficient ones.
In March 2023, Neste announced an agreement to charter two new lower-emission tankers from Terntank to transport raw materials and products.