Neste introduces a new IMO2020-compliant low-sulphur marine fuel
From January 1, 2020, the International Maritime Organization (IMO) will enforce a 0.5% global sulphur cap on fuel content for areas currently with 3.5% limit. In these areas, all vessels will be required to use fuel with a maximum sulphur content of 0.5%, unless they use exhaust gas cleaning systems.
Neste helps shipping companies to respond to the tightening regulation on sulphur dioxide emissions by offering them a new IMO2020-compliant marine fuel. The Neste Marine(tm) 0.5, containing 0.5% sulphur, will be introduced to the market during Q4/2019. By choosing Neste's low-sulphur fuel, shipping companies will have a solution, which is easy to switch to, and guarantees immediate compliance with the global sulphur cap.
"Neste's has always been in the forefront of developing cleaner and more sustainable solutions. This is also the key driver within our marine fuels business. Neste Marine 0.5 meets the stricter legislative requirements for maritime sulphur emissions, enabling smooth operations," says Marko Pekkola, Executive Vice President of Oil Products at Neste.
Neste Marine 0.5 is manufactured in Neste's refinery in Porvoo, Finland. Leveraging on its long-term refining expertise, Neste is able to ensure stable product quality and technical feasibility. These are verified by full scale fuel equipment system and engine tests in laboratory and onboard. The product meets the RMG 0.5 specification and ISO 8217:2017 standard requirements.
The product will be available in Northwest Europe. The exact locations and product's technical specification will be released in the fall of 2019.
NESTE IN BRIEF
Neste (NESTE, Nasdaq Helsinki) creates sustainable solutions for transport, business, and consumer needs. Our wide range of renewable products enable our customers to reduce climate emissions. We are the world's largest producer of renewable diesel refined from waste and residues, introducing renewable solutions also to the aviation and plastics industries. We are also a technologically advanced refiner of high-quality oil products. We want to be a reliable partner with widely valued expertise, research, and sustainable operations. In 2018, Neste's revenue stood at EUR 14.9 billion. In 2019, Neste placed 3rd on the Global 100 list of the most sustainable companies in the world.