NYK, Neste ink diesel transport contract

NYK Bulkship Asia, an NYK Group company based in Singapore, has entered into a contract of affreightment (COA) with Neste Shipping, a wholly owned subsidiary company of Neste headquartered in Finland, for the ocean transportation of renewable diesel.

An NYK-operated MR product/chemical tanker will transport the diesel from Singapore to North America under the COA.

The diesel to be transported is produced from globally sourced wastes and residues such as waste animal fat, residues from vegetable oil, and used cooking oil. It is reported that the chemical properties of the product are similar to those of fossil fuel-based diesel but are capable of reducing greenhouse gas emissions by up to 90 per cent compared to fossil fuels.