Idemitsu Tanker Co., Ltd., IINO Kaiun Kaisha, Ltd. (IINO Lines), Nippon Yusen Kabushiki Kaisha (NYK), and Nihon Shipyard Co., Ltd. have announced a new green consortium.
According to NYK Line, the purpose is to conduct joint research and development of design concepts (parts, machinery, and environmental equipment) for Malacca Max type Very Large Crude Oil Carriers (VLCCs) to reduce GHG emissions.
According to the consortium, a stable supply of crude oil remains essential to the energy needs of Japan, which relies on the Middle East for more than 90 per cent of the nation’s crude oil imports.
VLCCs transporting crude oil are thus vital to Japan’s economy.
READ: NYK tests long-term usage of biofuels
To minimise GHG emissions generated during transportation, shipping companies are considering switching from conventional fuels to next-generation fuels and installing environmentally-friendly equipment, such as Carbon Capture and Storage Systems (CCS), among other measures.
To address these issues, Idemitsu Tanker Co., Ltd. initiated the formation of this consortium by the four companies to study optimal solutions beyond the boundaries of each company.
Aiming to reduce GHG emissions by 40 per cent or more compared to previous levels, the consortium will reportedly combine expertise in the four companies’ respective fields to verify/select the effectiveness of next-generation fuels and environmentally friendly equipment, as well as create design concepts, to ultimately build and operate VLCCs.
