NYK presents its decarbonization strategy at forum hosted by ADB
MANILLA : Nippon Yusen Kabushiki Kaisha (NYK) participated for the first time in the “Asia and the Pacific Transport Forum” hosted by the Asian Development Bank in Manila, Philippines, on May 17. At the event, Takuya Koizumi, General Manager of NYK’s Decarbonization Group, gave a presentation on the company’s decarbonization strategy, emphasizing the role of marine biofuel and a gradual transition in maritime decarbonization. NYK was the only company from the maritime industry to speak at the event.
In his presentation, Koizumi stressed that biofuels could play an important role in decarbonizing the maritime industry, which is under pressure to gradually reduce greenhouse gas emissions.
Biofuels are made from organic resources (biomass) of biological origin, such as agricultural residues and waste cooking oil, and are considered to have virtually zero carbon dioxide (CO2) emissions when combusted. Since they can be used in heavy-oil-powered ship engines, which are common on large merchant ships, biofuels are considered a key means of reducing greenhouse gas (GHG) emissions in the transition period from heavy fuel oil to zero-emission fuels.
“Biofuels offer a promising solution for the maritime industry as we navigate towards a more sustainable future,” said Koizumi. “They provide a feasible alternative during the transitional period while we work towards the development and adoption of zero-emission fuels.”
However, Koizumi also acknowledged the various risks associated with the long-term use of biofuels, which have not been fully evaluated. To address this, NYK has launched a joint six-month project trialing the continuous use of biofuels onboard a vessel. This project is in collaboration with the Global Centre for Maritime Decarbonisation (GCMD), a Singapore-based non-profit organization supporting the decarbonization of the maritime industry. The findings will be open to the public as guidelines for continuous and extended biofuel use, contributing to decarbonization by facilitating an energy transition in international shipping.
In addition to its decarbonization efforts, NYK has been involved in the training and education of seafarers for many years. Since 2007, NYK has jointly operated the NYK-TDG Maritime Academy, a merchant marine academy in the suburbs of Manila. Many graduates are currently working in positions that play a significant role in safe ship operations, and NYK is committed to achieving a fair fuel transition that includes biofuels.
Biofuels?
Biofuels are refined by methyl esterification of vegetable oils and are expected to be an alternative fuel to petroleum-derived heavy oil and light oil. Although biofuels emit carbon dioxide (CO2) during combustion, the plants absorb CO2 and reproduce biomass. Thus, CO2 emissions during direct combustion are considered to be virtually zero, and biofuels are seen as a fossil fuel substitute that can become carbon neutral.