World News
DB Schenker to Cut Carbon Emissions Through Hapag-Lloyd's Use of Biofuels
Logistics firm DB Schenker has signed a deal with Hapag-Lloyd to cut carbon emissions from its shipments via the container line's use of biofuels.
DB Schenker has signed up as a user of Hapag-Lloyd's Ship Green service, the container line said in a statement on its website on Tuesday.
The firm plans to claim about 3,000 mt of CO2 equivalent emissions avoidance through the service, based on 1,000 mt of pure biofuel use.
The service works by applying carbon credits to the shipper from Hapag-Lloyd's use of biofuels across its fleet.
"I am very pleased that together with Hapag-Lloyd we are setting another example for sustainability in our industry," Thorsten Meincke, global board member for air and ocean freight at DB Schenker, said in the statement.
"This partnership further enlarges our global biofuel offer in ocean freight. With this commitment we are one step closer to our goal of becoming carbon-neutral."
Hapag-Lloyd is aiming for climate-neutral fleet operations by 2045.
Demand for biofuel bunker blends is increasing as shipowners take them on as a drop-in replacement for conventional fuels with a lower carbon footprint, allowing them to reduce GHG emissions without investing in new ships capable of running on other alternative fuels.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 571.00 | 1.50 | 685.50 | 5.50 |
| Rotterdam | 516.50 | 1.50 | 677.50 | 3.50 |
| Houston | 556.00 | 6.00 | 679.00 | 1.00 |
| Fujairah | 565.00 | 4.50 | 755.00 | 1.50 |
| Global 20 Ports Average | 589.00 | 3.00 | 764.50 | 3.50 |
| Global 4 Ports Average | 552.00 | 3.00 | 699.00 | 2.50 |
| Global Average Bunker Price | 635.50 | 1.00 | 811.50 | 11.00 |
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