BHP and NYK use GoodFuels biofuel to progress decarbonisation goals
Global mining company BHP, Japanese shipping company NYK, leading sustainable biofuel company GoodFuels and BLOC (Blockchain Labs for Open Collaboration) the leading developer of blockchain applications for the maritime industry, announced the successful delivery of sustainable biofuels to the BHP-chartered, NYK-owned bulk carrier _Frontier Sky_, with CO2 savings verified with BLOC’s blockchain fuels assurance platform.
The advanced biofuel, supplied by GoodFuels via logistics partner Varo Energy, is a ‘drop-in’ marine gasoil (MGO)-equivalent, and was blended with conventional fossil-based MGO in a mix of 30% biofuel to 70% conventional MGO. This delivery saves over 50 tonnes of CO2, equivalent to the greenhouse gas (GHG) emissions of approximately 125,000 miles driven by car, and sets the stage for further savings, driven by switching to this carbon neutral fuel.
This is an important step in the decarbonisation strategies of both BHP and NYK. NYK was recently recognised as a global leader on corporate climate action by the environmental non-profit organisation CDP, achieving a place on the Climate Change A-List for its climate strategy.
NYK’s reduction targets for GHG emissions are 30% per ton-km by 2030 compared with a 2015 base year, and 50% per ton-km by 2050.
BHP works with its customers to help them improve the productivity and environmental performance from the use of its products, and is identifying more strategic relationship opportunities to achieve material emissions reductions. BHP has worked with GoodFuels to explore the use of sustainable, advanced, second generation biofuels for shipping. A vital part of this is the inclusion of solutions to verify chains of custody, that only sustainably produced biofuels are used in the process and that the origin, emission reductions and fuel quality metrics are traceable and transparent. This solution was provided by BLOC’s initiative Maritime Blockchain Labs and developed together in a consortium led by BLOC and funded by Lloyd’s Register Foundation. The consortium aims to create an inclusive support system that enhances marine fuel traceability and provides a clear chain of custody for better quality assurance in the bunker fuel supply chain.
ABOUT GOODFUELS
GoodFuels is a Netherlands-based global pioneer in sustainable marine fuels. The company has created a one-stop shop for marine industry customers integrating the entire supply chain for sustainable marine biofuels. From feedstock to tank, GoodFuels proposition covers elements of sourcing feedstock and ensuring its 100% sustainability, the production and refining, the global distribution, quality assurance and marketing programs with ports, governments and end clients. GoodFuels has its operations RSB certified. GoodFuels is part of the GoodNRG Group, which is active under various labels and companies in sales, marketing, trading, R&D and production of truly sustainable fuels for the transport segments for which biofuels is one of the best or only viable long-term alternative. GoodFuels has a partnership with Varo Energy on the distribution and development of speciality blending solutions for Low Carbon Marine fuels for the ARA region.
ABOUT BHP
BHP is among the world’s top producers of major commodities including iron ore, metallurgical coal and copper. BHP also has substantial interests in oil, gas and energy coal. It extracts and processes minerals, oil and gas from its production operations located primarily in Australia and the Americas. Its products are sold worldwide, with sales and marketing led through Singapore and Houston, United States. With a team of more than 65,000 employees and contractors, BHP prioritises its people’s health and safety and strives to create an environment free from fatalities, injuries and occupational illnesses. BHP aims to maximise the social and economic benefits of its operations, contributes to economic development and minimises its environmental footprint through innovation, productivity and technology. BHP has a responsibility to make a positive contribution to sustainable development and has a longstanding commitment to invest one per cent of its pre-tax profits in programs that aim improve the quality of life for people around the world.
ABOUT NYK
Nippon Yusen Kabushiki Kaisha (NYK) is one of the world's leading transportation companies. As a group NYK employs about 37,000 people worldwide. NYK is based in Tokyo and has regional headquarters in London, New York/New Jersey, Singapore, and Shanghai. At the end of March 2018, the NYK Group was operating 797 major ocean vessels, as well as fleets of planes and trucks. The company's shipping fleet includes 361 bulk carriers, 119 car carriers, 95 containerships, 71 LNG carriers, 65 tankers, 42 wood-chip carriers, one cruise ship, and 42 other ships (including multipurpose and project cargo vessels). The NYK Group is accelerating growth by focusing on "Digitalization" and "Green".
