Japan: ORIX targets up to 20% emissions reduction with bio bunker fuel trial

Japan-based financial services company ORIX Corporation on Thursday (14 November) announced that it will conduct a sea trial using biofuel on an ORIX-owned vessel currently chartered by Danish shipping firm NORDEN. 

This is the first time for ORIX to use biofuels on an owned vessel. The sea trial will use a fuel composed of a mix of conventional heavy fuel oil and biofuels made from waste cooking oils. 

The trial will verify the safe operation of machineries onboard and evaluate the quantity of CO2 emissions reduction through the usage of biofuel. Using this blended fuel is expected to reduce CO2 emissions by approximately 15 to 20% in this trial.

ORIX Group has set greenhouse gas (GHG) emissions reduction targets as part of its ESG-related “Materials Issues” and “Key Goals” and promoted sustainability activities. 

These initiatives include in its ship business, where the Group has conducted a feasibility study of energy-saving ship operations utilising wind power and placed order methanol-fuelled ships.

On 8 July, Orix announced it has placed an order for two methanol dual fuel Kamsarmax bulk carriers, the latest environmentally friendly ships from Tsuneishi Shipbuilding and one bulk carrier from Oshima Shipbuilding through its consolidated subsidiary Santoku Senpaku.

Tsuneishi Shipbuilding’s Kamsarmax will be built at Tsuneishi Group (Zhoushan) Shipbuilding, and Oshima Shipbuilding’s bulk carrier will be built at its Koyagi Shipyard.

This was the first time that ORIX Group has ordered methanol-fuelled ships.

Photo credit: ORIX Corporation
Published: 18 November, 2024