MOL has announced that its group company, MOL Drybulk Ltd. will be sea trialing the C.S. Olive, a biofuel powered Panamax bulk carrier.
The company has signed a biofuel deal with Chevrojn Singapore Pte. Ltd. for about 500 tons of biofuel with International Sustainability & Carbon Certification. This biofuel will is blended with Used Cooking Oil Methyl Ester as a 20%-24% component. This type of biofuel can be used on vessels without requiring a change in engine specifications and is expected to decrease CO2 emissions by as much as 20%.
Biofuel has become increasingly positioned as an effective alternative to tradition fossil fuels for maritime transportation. It’s also part of the MOL Group’s Environmental Vision 2.1 that was announced in June 2021. The effort is part of the company’s efforts to reduce greenhouse gas emissions during ocean transport.
Maritime shipping and transport have been seen as a major obstacle to reducing the carbon footprint of the logistics industry. Recently biofuel is seeing increased plans for adoption by both shipping lines and cruise lines. If this trend continues, we’re likely to see more biofuel powered ships which is a. big step towards a more sustainable future.