To respond to the 2050 net-zero emissions goal, Yang Ming Marine Transport Corp. (Yang Ming) is taking a significant step by adopting sustainable biofuel to its fleet, starting at Hong Kong and Singapore on 7th and 8th March. In addition to enhancing energy saving in fleet management and utilizing green energy at land-based offices, the Company will incorporate biofuel into its annual fuel consumption. Through the adoption of certified biofuel, Yang Ming aims to achieve a year-on-year reduction in emissions and offer customers more eco-friendly transportation services.
The adoption of biofuel begins with Yang Ming’s 1,805 TEU class container ship, YM Inception, and 6,600 TEU class container ship, YM Masculinity. These vessels are currently deployed on the Japan to/from Taiwan, Hong Kong, Vietnam and Thailand service, JTC, and the Far East to/from Middle East service, CGX, respectively. In collaboration with energy providers Chimbusco Pan Nation Petro-Chemical Co., Ltd., and KPI OceanConnect, both vessels have been bunkered with B24 biofuel, certified by the International Sustainability & Carbon Certification (ISCC). This sustainable fuel comprises a blend of Fatty Acid Methyl Ester (FAME) and Very Low Sulfur Fuel Oil (VLSFO). By embracing the biofuel, Yang Ming can achieve a substantial reduction of approximately 20% in carbon emissions compared to conventional fuel oil.
Yang Ming Chairman Cheng Cheng-Mount stated, "Confronted with future regulatory requirements and the challenges of decarbonization, the adoption of biofuel signifies a significant milestone for Yang Ming as it transitions towards achieving net-zero carbon emissions. Despite the associated higher costs, Yang Ming plans to gradually expand the use of biofuel in 2024, continuing research and investment in new alternative energy sources to realize a 20% reduction in total carbon emissions by 2030 compared to the levels in 2018."
In addition to the integration of biofuel, Yang Ming has already implemented a range of energy-saving and emission reduction measures on its fleet. These measures include retrofitting existing vessels for enhanced energy efficiency, utilizing big data analysis to optimize vessel performance, and implementing route optimization strategies. Furthermore, the Company expects the delivery of five newly-built 15,500 TEU LNG dual-fuel container ships starting in 2026. This development is anticipated to contribute to reducing the environmental impact of the shipping industry and fostering sustainable development.
Guided by the principle of "advancing competitiveness and environmental sustainability concurrently", Yang Ming assumes responsibility for integrating operations with environmental sustainability. The Company prudently allocates corporate resources for various carbon reduction actions, ensuring compliance with regulatory requirements from supervisory authorities and alignment with the latest developments in shipping technology. This approach allows Yang Ming to respond to climate change, contributing to the pursuit of a sustainable future for the Earth.