|
August 28, 2024
Orient Overseas Container Line Ltd. (OOCL) and partners join hands to advance low-carbon shipping, opting for cleaner fuel to reduce supply chain emissions. With the participation of several partners including IKEA and Kyocera, the first voyage commenced in early August.
The fuel used on the voyage is a B24 biofuel blend, with ISCC certified Used Cooking Oil Methyl Ester as a component in the VLSFO. Replacing fossil fuel with biofuel can reduce carbon emissions in shipping and is considered a viable transitional solution towards long-term decarbonization goals. The amount of carbon saved on this voyage will be attributed to these partners, reducing the carbon footprint of the cargo.
A Green Certificate will be issued to each of these partners as a credible certification of the saved carbon emissions by opting for biofuel. The process is verified and powered by Global Shipping Business Network (GSBN), a non-profit blockchain consortium. Carbon emission saving calculation and allocation are tracked by blockchain, with traceable and immutable record. OOCL uses the Well-to-Wake approach to comprehensively measure the lifecycle carbon emissions, from the production of the fuel to its consumption in ship operation.
OOCL has started using biofuel on some of its vessels since 2023 as one of the company's strategies to advance with the transition towards decarbonization. Promoting the use of biofuel in low-carbon shipping with partners has not only further demonstrated the company's commitment to decarbonizing the ocean shipping industry but also its determination to provide first-class shipping services to partners. OOCL is committed to building greener maritime supply chains with partners and has formulated sustainable shipping solutions for them based on their demand and environment target, working with partners towards the mutual goal of decarbonizing ocean shipping.
Michael Xu, Director of Trades at OOCL, commented: "Working with partners on low-carbon shipping is definitely a very important milestone in OOCL's environmental and sustainability journey that enables both OOCL and our partners to advance towards their own decarbonization roadmap. I would like to thank our partners such as IKEA, Kyocera and several others for their trust and support in OOCL and for their participation in the first voyage. We are keen to establish additional long-lasting sustainability collaborations with all our partners and stakeholders to reduce emissions along the supply chain and to create a greener future together."
Image by OOCL.
About OOCL
"Orient Overseas Container Line" and "OOCL" are trade names for transportation provided separately by: Orient Overseas Container Line Limited ("OOCLL") and OOCL (Europe) Limited respectively and both are wholly-owned subsidiaries of Orient Overseas (International) Limited, a public company (0316) listed on the Hong Kong Stock Exchange. Headquartered in Hong Kong, China, OOCL is one of the world's largest integrated international container transportation and logistics companies, with about 130 offices in more than 100 major cities. Linking Asia, Europe, the Americas, Africa and Oceania, the company offers transportation services to all the major trading economies of the world. OOCL is also an industry leader in the use of the latest technologies to enhance global supply chains. (http://www.oocl.com/)
About GSBN
The Global Shipping Business Network (GSBN) is a neutral, not-for-profit consortium whose mission is to enable efficient, paperless and sustainable growth in global trade with its data infrastructure and ecosystem of partners. GSBN facilitates trusted collaboration between participants across the shipping industry to enable greater efficiencies, paperless trade as well as supporting the shipping industry's decarbonisation transition.
GSBN's ecosystem includes shipping lines, terminals, banks, application developers and other consortia. The entire network accounts for more than half of the containers handled in the world.
Orient Overseas Container Line (OOCL) press release
