Finland-headed energy company Gasum Oyj has announced that it has signed a Letter of Intent (LoI) with compatriot RoPax operator Viking Line on joining Gasum’s FuelEU Maritime pooling service.
Liquefied biomethane (bioLNG), is a fully renewable and environmentally friendly fuel with life-cycle greenhouse gas (GHG) emissions that are, according to Gasum, on average 90 percent lower than compared to conventional fossil fuels such as marine gasoil (MGO).
Viking Line has two LNG-powered vessels in its five-vessel fleet. These two RoPax vessels transport passengers and cargo between Finland and Sweden.
The ferry operator plans to offer over-compliance to the pool by running its daily route on Gasum’s renewable waste and manure-based bioLNG.
For us at Viking Line, taking every possible step towards more sustainable maritime transport is a top priority. Increased use of bioLNG as a maritime fuel is one big step. That is why joining Gasum’s FuelEU Maritime pooling service is such an attractive option for us. If we can enable reducing emissions in the maritime sector and further our work towards Green Maritime Corridors with such an easy move, there is really no question about it, said Jan Hanses, CEO of Viking Line.
FuelEU Maritime compliance as a service
FuelEU Maritime is a European Union (EU) regulation established to increase the use of renewable and low-carbon fuels and limit greenhouse gas (GHG) emissions in the EU.
Starting in 2025, vessel owners need to reduce the carbon intensity of purchased fuel, initially by two percent with the required reduction growing incrementally to as much as 80 percent by 2050.
To make compliance easier for shipping companies FuelEU Maritime permits the voluntary pooling of emission reductions between vessels.
This means that over-compliant vessels can compensate for emissions on behalf of under-compliant vessels. In other words, they can provide compliance as a service.
Viking Line joins Finnish shipping company Wasaline as Gasum’s FuelEU Maritime pooling service over-compliance generator.
Gasum will manage the pools, supply the ultra-low emission bioLNG, and offer over-compliance to shipping companies operating on conventional fuel vessels.
According to Gasum, its FuelEU Maritime pooling service is the easiest and most reliable way for shipping companies to save on compliance costs and simultaneously promote the production of low-emission fuels.
We are thrilled at the opportunity to have a pioneering Nordic shipping company like Viking Line join our FuelEU maritime pooling service. With Viking Line on board, Gasum will have an unmatched source of over-compliance in the pool. This will enable us to offer our customers the easiest and most cost-effective way to reach compliance for vessels running on conventional fuels, said Jacob Granqvist, VP of Maritime at Gasum.
