Care for Environment
Our journey to reduce our environmental impact started already in 2006 when we selected LNG as a fuel for Coral Methane totalling 10 vessels in 2022.
To become net zero in GHG (greenhouse gases) by 2035 is very ambitious. We believe we can achieve this by building a fleet that for propulsion is capable of running on methane gas, transitioning from fossil LNG towards bio or synthetic LNG.
Our vision is to build any future newbuild with methane gas burning capabilities and when considering the economic lifetime of a vessel, the vast majority of our fleet is capable of doing that by 2035. If we manage this, we also have eliminated SOx and particulate matter emissions, and up to 95% reduction in NOx emissions.
We introduced a new KPI to measure our performance: the Net Zero Rating (NZR). NZR uses the same methodology as the AER (tank-to-wake) but uses CO2 equivalent emissions with carbon factors from a well-to-wake analysis, divided by the product of the distance sailed and the summer deadweight of that vessel. It has the advantage that the KPI stays close to the AER methodology, which enables analysing the effectiveness of our measures to become net zero.
In the case of a growing fleet, looking at absolute emission figures could give a distorted view of the effectiveness of the measures.
In the short term, we will reduce our NZR by introducing a few newbuilds running on LNG; the remainder of our fleet running on MGO.
However, we also will see the effect of sailing with slower speeds due to EEXI, CII and just-in-time arrival (JITA). Additionally, we will continue focussing on reducing energy consumption, optimising operations and supply chain conditions, in parallel with increasing environmental awareness in the company. Combining these measures, we expect a 5% reduction of the NZR by 2025 compared to 2022.
In the mid-term, we should be able to reduce emissions further by even more energy-efficient newbuilds, possibly aided by wind assist. Methane slip abatement technologies and CCS on board should become available to a few ships. The blending of bio and synthetic LNG will be introduced.
Our ambition will be further strengthened by data-driven vessel performance increasing operational efficiencies. By energy efficiencies throughout the supply chain, such as the introduction of