A new partnership was announced today between four cross-industry market leaders, who will work together to test a new bio-fuel oil.
IKEA Transport & Logistics Services, logistics giant CMA CGM, the GoodShipping Program and the Port of Rotterdam have announced that the testing will begin on March 19th, working towards the common goal of scaling a new sustainable fuel.
This partnership is the first of its kind and is viewed as a monumental step towards the decarbonisation of ocean freight.
The fuel, developed by GoodFuels, has been derived from waste cooking oil and forest residues, and delivers both low carbon and low sulphur emissions. The abundance of the material used to develop the fuel mean that it is completely sustainable. An additional benefit of the newly developed fuel is that there is no need for engine modifications.
The International Maritime Organisation (IMO) has launched an initiative that seeks to reduce greenhouse gas emissions from the shipping sector by 50% by 2050. This includes caps to sulphur emissions, which will be cut to 0.50% by January 2020. The new fuel produces virtually zero sulphur emissions.
Dirk Kronemeijer, CEO of The GoodShipping Program, said:
“The aim of our program has always been not only to reduce carbon emissions from shipping, but to show that the means to accelerate the energy transition are already available for the sector to grasp.
“Together we send a very clear message: sustainable biofuels are ready today, and we can meet the pathways laid out by the IMO in a manner that is attractive to major cargo owners such as IKEA.”
The testing will take place on CMA CGM ships carrying goods from IKEA – the Swedish furniture giant – supported by the Port of Rotterdam.