ESL Shipping becomes the first shipping company in the world to utilize Neste's co-processed marine fuel for GHG emissions reduction

20.06.2022

Finnish shipping company ESL Shipping will become the world's first shipping company to start utilizing new low-emission Neste Marine™ 0.1 Co-processed marine fuel in its vessels in Finland and Sweden. The ISCC PLUS certified* marine fuel enables up to 80%** reduced greenhouse gas emissions over the life cycle compared to fossil fuels without compromising the product quality and performance.

ESL Shipping is the leading carrier of dry bulk cargoes in the Nordic and Baltic regions. Constantly in search of sustainable shipping solutions, ESL Shipping strives to minimize the adverse environmental impacts of its fleet.

"The co-processed marine fuel is something we have been waiting for a long time. ESL Shipping is committed to leading the way in reducing greenhouse gas emissions of the maritime industry, and we are now fortunate to be able to use this low-emission alternative without having to do any fleet modifications. We believe this is the right thing to do, and I'm convinced we in the Nordics are well-positioned to show the way for the global maritime industry," says Mikki Koskinen, Managing Director of ESL Shipping.

"Supporting the shipping industry towards carbon neutrality requires partnerships, all available solutions and further innovations. We are proud of the solutions we have provided to the global aviation and road transport sectors to reduce greenhouse gas emissions, and it is a big step for Neste to be able to offer similar solutions to maritime transport, too. After all, as 90% of world trade and 13% of global transport emissions are the result of the shipping industry, it needs lower-emission solutions that are available already today," explains Sveta Ukkonen, Head of Marine Fuels and Services at Neste.

Neste Marine 0.1 Co-processed marine fuel is currently in the piloting phase and it is produced at Neste's refinery in Porvoo, Finland, where part of the fossil raw materials have been replaced with renewable raw materials in the conventional refining process. The drop-in fuel can be taken in use without any fleet modifications as it has a similar composition to conventional bunker fuels.

The co-processed marine fuel is ISO 8217 compliant with consistent refined quality. The sustainability characteristics of the co-processed marine fuel are certified with International Sustainability and Carbon Certification (ISCC PLUS) with a mass balance approach.


Image by ESL Shipping Ltd.

*) During the piloting phase of this new co-processed marine fuel, the GHG emission reduction calculations are not included in the ISCC PLUS certification process.

**) The method used to calculate life cycle emissions and emission reduction is guided by the EU Renewable Energy Directive II (EU)2018/2001.




ESL Shipping in brief
ESL Shipping Ltd is the leading carrier of dry bulk cargoes in the Baltic region. ESL Shipping's competitive edge is based on its ability to responsibly secure product and raw material transportation for industries and energy production all year around, even in difficult weather conditions. The shipping company loads and unloads large ocean liners at sea as a special service. ESL Shipping Ltd has been in business over 70 years and is a subsidiary of Aspo Plc. ESL Shipping's subsidiary AtoB@C Shipping has currently 33 vessels in 3,000-6,000 dwt segments in its fleet. The combined fleet of ESL Shipping and AtoB@C Shipping consists of 48 vessels with cargo capacity ranging from 3,000 to 56,000 dwt.

Neste in brief
Neste (NESTE, Nasdaq Helsinki) creates solutions for combating climate change and accelerating a shift to a circular economy. We refine waste, residues and innovative raw materials into renewable fuels and sustainable feedstock for plastics and other materials. We are the world's leading producer of sustainable aviation fuel and renewable diesel and developing chemical recycling to combat the plastic waste challenge. We aim at helping customers to reduce their greenhouse gas emissions with our renewable and circular solutions by at least 20 million tons annually by 2030. Our ambition is to make the Porvoo oil refinery in Finland the most sustainable refinery in Europe by 2030. We are introducing renewable and recycled raw materials such as liquefied waste plastic as refinery raw materials. We have committed to reaching carbon-neutral production by 2035, and we will reduce the carbon emission intensity of sold products by 50% by 2040. We also have set high standards for biodiversity, human rights and supply chain. We have consistently been included in the Dow Jones Sustainability Indices and the Global 100 list of the world's most sustainable companies. In 2021, Neste's revenue stood at EUR 15.1 billion. Read more: www.neste.com

ESL Shipping Ltd. press release