Neste introduces co-processed marine fuel in partnership with Nordic Marine Oil
Together with its partner Nordic Marine Oil, Neste is piloting a new Neste Marine™ 0.1 Co-processed marine fuel in Scandinavia – a solution helping the maritime sector to reduce the greenhouse gas (GHG) emissions. The ISCC PLUS certified marine fuel enables up to 80% GHG emission reduction over the lifecycle compared to fossil fuels without compromising the product quality and performance, according to the company's release.
Accounting for 90% of world trade and 13% of global transport emissions, the shipping industry needs solutions to reduce its carbon footprint in a viable way in line with the targets of the International Maritime Organization.
“At Neste, we are dedicated to helping our customers and the entire value chain to reduce their GHG emissions. In 2021, our renewable products helped customers to reduce 10.9 million tons of their GHG emissions. Maritime is one of the largest sources of transport emissions. We support shipping companies moving towards carbon neutrality and are introducing the Neste Marine 0.1 Co-processed marine fuel with an immediate emission reduction impact,” says Sveta Ukkonen, Head of Marine Fuels & Services at Neste.
Nordic Marine Oil specializes in the supply of bunker fuels and lubricating oil to the shipping industry. Its storage tanks and bunker barges are located in key ports across Denmark, where also the new marine fuel will be available as of May 2022.
Neste Marine 0.1 Co-processed marine fuel is produced at Neste’s refinery in Porvoo, Finland, where renewable raw materials are co-processed with fossil raw materials in the conventional refining process. The drop-in fuel can be taken in use without any fleet modifications as it has a similar composition to conventional bunker fuels. The co-processed marine fuel is ISO 8217 compliant with consistent refined quality. The sustainability characteristics of the co-processed marine fuel are certified with International Sustainability and Carbon Certification (ISCC PLUS) with a mass balance approach.
Nordic Marine Oil is a 100% privately owned and Danish-registered company. Nordic Marine Oil A/S operates its own oil terminals and bunker vessels in Danish key ports, serving customers from all segments of the shipping industry.