Toyota Tsusho : Performs First Trial in Singapore to Sell and Supply Biodiesel Fuel to NYK Line’s Oceangoing Vessel- Contributing to the transition to a decarbonized society by reducing greenhouse gases from marine fuel – – Marketscreener.com

Toyota Tsusho Performs First Trial in Singapore to Sell and Supply Biodiesel Fuel to NYK Line’s Oceangoing Vessel
– Contributing to the transition to a decarbonized society by reducing greenhouse gases from marine fuel –
2021-06-29

Toyota Tsusho Corporation (‘Toyota Tsusho’) announced today that Toyota Tsusho Petroleum Private Limited (‘TTP’) sold biodiesel fuel*1 (‘biofuel’) to Nippon Yusen Kabushiki Kaisha (‘NYK Line’) and performed a trial for Ship-to-Ship bunkering*2 for the bulk carrier ‘Frontier Jacaranda’ operated by ‘NYK Line’ (Charterer: Anglo American) at the Port of Singapore on 11th of June, 2021.This was the first attempt in the marine fuel industry to supply biofuel to Japanese companies’ oceangoing vessels in Singapore.

The biofuel supplied to the NYK Line’s ‘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%*3 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 (IMO) adopted a strategy for reducing GHG emissions from ships and set a target of reducing GHG emissions by 50% compared to the 2008 level by 2050. Moreover, the Japanese government has announced that it will reduce GHG emissions by 46% 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.

In October 2020, the Toyota Tsusho Group began supplying liquefied natural gas fuel (LNG) to ships using Ship-to-Ship bunkering for the first time in Japan, and has been focusing on efforts to switch to alternative fuels for ships, such as the first trial of biofuel operation by a marine fuel supply ship (bunker barge) in Singapore, since April 2021.

Going forward, we will continue to contribute to the transition to a decarbonized society by accelerating businesses that contribute to CO2 reduction throughout the industrial life cycle and promoting initiatives for carbon neutrality.

Outline of Toyota Tsusho Petroleum Private Limited

Company name
Toyota Tsusho Petroleum Private Limited
Singapore
Established
February 1989
Shareholder
Toyota Tsusho Corporation 100%
Representative
Kota Kido, President and Representative Director
Business Description
Sale of bunker oils and petroleum products
http://www.toyota-tsusho-petroleum.com/en/

‘Frontier Jacaranda’ (NYK Line) was supplied with biofuel
by the ‘Marlin Tiga’ (Toyota Tsusho Petroleum)

*1 Biodiesel fuel (BDF)
BDF is a fuel alternative to light oil obtained by methyl esterification of vegetable oil and fat and is expected to serve as an alternative fuel for petroleum-derived heavy oil and light oil. The United Nations’ Intergovernmental Panel on Climate Change (IPCC) views BDF as carbon neutral throughout its lifecycle because CO2 is absorbed in the course of growth of plants, from which BDF is made.

*2 Ship-to-Ship bunkering
A method of fueling a ship moored at a quay or pier and a ship alongside by a fuel supply ship sideways

*3 2014 survey by the International Maritime Organization (IMO)

Reference

<Announcement of the NYK Line Regarding this Matter>
https://www.nyk.com/news/2021/20210629_01.html

<Our Efforts So Far>

– April 22, 2021 release: TTC to Conduct Supply and Operation Trial, a First in Singapore, in Anticipation of Regular Use of Biodiesel Fuel for Ships
https://www.toyota-tsusho.com/english/press/detail/210422_004814.html

– September 18, 2020 release: Naming Ceremony Held for Japan’s First LNG Bunkering Vessel
https://www.toyota-tsusho.com/english/press/detail/200918_004680.html

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Toyota Tsusho Corporation published this content on 29 June 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 June 2021 05:11:01 UTC.

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