Wallenius Wilhelmsen officially announced they have met their CO2 intensity target, while biofuel has become an integrated part of their fuel mix.
In particular, the company says it has updated its progress on emissions targets and performance related to its sustainability-linked financing framework established in 2022. The company mentioned that the effect of reaching their target is a reduction in interest cost of 5 to 10 basis points for the following 12-month period related to drawn amounts under USD 875m of sustainability-linked bank loans.
Furthermore, they have expanded the portfolio of possible vessel upgrades in line with our strategic ambition to intensify efforts in this critical area.
Our emission performance improved as a result of a range of different initiatives undertaken to improve energy efficiency onboard our vessels and reduce our fleet’s emissions.
… Wallenius Wilhelmsen reported.
Trusting in biofuels
The company supports biofuel as an alternative fuel; in 2023, they successfully began bunkering B30 biofuel blend products on several vessels, and in 2024 it is anticipated to replace more than ten percent of their total fuel consumption with biofuel blends.
“Quickly becoming an important element in many contract discussions, we expect demand to continue to grow amongst customers increasingly looking to reduce their Scope 3 CO2 emissions. B30 contains 30 percent biofuel feedstock and 70 percent conventional fuel and brings approximately 25 percent lower CO2e emissions than conventional fuel“, the company said.
To remind, earlier this month, the company signed a billion-dollar contract that spans three years initially, with a mutual two-year extension option, and covers shipping and logistics services, along with the use of biofuel. A few months back, in November 2023, Wallenius Wilhelmsen, in collaboration with GS Caltex, conducted a trial with a Pure Car and Truck Carrier (PCTC) at the Port of Masan, using B30 HSFO biofuel. Additionally, in January 2023 Wallenius Wilhelmsen and ExxonMobil signed a that contract entailed the delivery of sustainable biofuel.
Our ambition is to lead the transformation of shipping and logistics, and our emission targets are embedded in the company strategy. Going forward, we will continue to systematically cut emissions and deliver on our recently introduced goal to reach net-zero emissions in 2040
… Lasse Kristoffersen, CEO and President at Wallenius Wilhelmsen stated.
