OOCL and Partners Join Forces to Promote Low-Carbon Shipping Through Biofuels

Orient Overseas Container Line (OOCL), a Hong Kong-based container shipping company, has partnered with several organizations to advance low-carbon shipping by using biofuel to cut supply chain emissions. Notable partners include Swedish furniture giant IKEA and Japanese multinational Kyocera. The initiative kicked off with its first voyage in early August, using a B24 biofuel blend. This blend incorporates ISCC-certified Used Cooking Oil Methyl Ester as part of a very low sulfur fuel oil (VLSFO), replacing conventional fossil fuels.

Biofuels offer a promising transitional solution for reducing shipping-related carbon emissions and advancing long-term decarbonization goals. The carbon savings from this voyage will be attributed to the participating partners, helping to lower the carbon footprint of their cargo. Each partner will receive a Green Certificate, validating their contribution to emission reductions through the use of biofuel. This certification process is managed and verified by the Global Shipping Business Network (GSBN), a non-profit blockchain consortium, ensuring transparent and immutable tracking of carbon savings through blockchain technology.

OOCL employs the Well-to-Wake methodology to measure lifecycle carbon emissions, evaluating the impact from fuel production through to its use in shipping operations. Since 2023, OOCL has been incorporating biofuels on select vessels as part of its strategy to transition towards decarbonization. The company is dedicated to developing greener maritime supply chains and creating sustainable shipping solutions tailored to the environmental targets of its partners.

Michael Xu, Director of Trades at OOCL, highlighted the significance of this collaboration: “Partnering on low-carbon shipping marks a crucial milestone in OOCL’s environmental and sustainability journey. It allows both OOCL and our partners to make progress towards their decarbonization goals. We appreciate the trust and support from IKEA, Kyocera, and others in participating in this initial voyage.” Xu also expressed enthusiasm for expanding sustainability collaborations to further reduce emissions and foster a greener future.

On August 16, 2024, OOCL completed its first biofuel bunkering operation in Hong Kong, in cooperation with marine fuel provider Chimbusco Pan Nation Petro-Chemical (CPN), marking another step in its commitment to low-carbon shipping solutions.

“Orient Overseas Container Line” and “OOCL” are trade names used by two separate entities: Orient Overseas Container Line Limited (“OOCLL”) and OOCL (Europe) Limited, both of which are wholly-owned subsidiaries of Orient Overseas (International) Limited, a publicly traded company (0316) listed on the Hong Kong Stock Exchange. Headquartered in Hong Kong, OOCL is among the world's largest integrated international container transportation and logistics firms, operating approximately 130 offices across over 100 major cities. The company connects Asia, Europe, the Americas, Africa, and Oceania, providing transportation services to all major global trading economies. OOCL is also a leader in adopting cutting-edge technologies to enhance global supply chains.