Lambert Maru, a Capesize bulk carrier owned by Japanese shipping major Mitsui O.S.K. Lines (MOL), has set sail on a biofuel-powered voyage for Anglo American, a global mining company.
The 292-meter-long bulk carrier started its voyage following biodiesel-blended marine fuel bunkering in Singapore on September 14.
According to MOL, this represents an advanced case of utilizing its carbon insetting program framework, Blue Acton Net-Zero Alliance , which was launched earlier this year with an aim to achieve net-zero emissions in maritime transportation.
The greenhouse gas (GHG) reduction value delivered through this voyage will be allocated to Anglo American using digital certification, and it can be incorporated into integrated reports or other disclosures as part of its Scope 3 reduction activities , MOL explained.
The bulk carrier serving Anglo American was fueled with a B30 blend certified under the International Sustainability & Carbon Certification (ISCC-EU), consisting of 30% biomass (organic resources derived from living organisms, such as waste cooking oil).
It is expected to reduce CO2 emissions during navigation by approximately 30% compared to conventional fossil fuels.
Recent analysis by UCL Energy Institute and UMAS suggests that voluntary insetting schemes in the maritime industry could play a pivotal role in facilitating shipping’s decarbonization during the critical pre-regulatory period, so long as they incorporate ‘robust safeguards ‘ that lead to the uptake of long-term fuel options.
The analysis has spotlighted that schemes like book and claim, for instance, have the potential to provide ‘significant’ opportunities by stimulating value chain thinking and offering early market signals during the emergence phase of the energy transition.