Japan's NYK, GCMD sign 5-year agreement for low-carbon shipping collaboration
SINGAPORE, July 4 (Reuters) - Japan's leading shipping company NYK has signed a 5-year contract with the Global Centre for Maritime Decarbonisation (GCMD) to collaborate on low-carbon solutions for shipping.
NYK will join the GCMD as a strategic partner, after previously conducting trials on biofuels and starting projects on ammonia bunkering, the centre said in a statement on Tuesday.
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NYK's ongoing ammonia bunkering projects include the retrofit of an LNG-fuelled tugboat with an ammonia-fuelled engine, which is expected to commence operations in 2024.
It was also the first Japanese shipper to obtain an approval-in-principle for an ammonia bunkering vessel, and aims to deliver an ammonia-fuelled gas carrier by 2026.
NYK had in February conducted a biofuel bunkering trial, using a fuel consisting of 24% biofuel (B24) blended with very-low sulphur fuel oil.
The trial is the second of five supply chains of a pilot with GCMD and paves the way for a green premium cost-benefit analysis of deploying biofuels.
The GCMD, a Singapore-based non-profit organisation, aims to help the shipping industry eliminate greenhouse gas emissions by shaping standards for future fuels and piloting low-carbon solutions, according to its website. (Reporting by Jeslyn Lerh; Editing by Varun H K)