Source : https://www.argusmedia.com/en/news/2232264-marubeni-navigator-use-carbon-credit-on-ethylene-cargo
Japanese trading house Marubeni and UK chemicals shipping company Navigator have used carbon credits for a transatlanic ethylene shipment that departed on 6 July amid the global trend towards carbon neutrality.
The carbon credit covers the voyage of the 21,020m³ ethylene carrier Navigator Triton, which is using low-sulphur fuel oil, from the US' Texas to Antwerp in Belgium. Marubeni and Navigator obtained the credits by investing in an environmental preservation project in Cambodia.
Marubeni began shipping US ethylene from January last year, with the launch of the Enterprise Navigator ethylene terminal. This is a 50:50 partnership between US oil and gas company Enterprise Products Partners and Navigator.
Marubeni has accelerated its efforts towards decarbonisation. It plans a complete withdrawal from any coal-fired power development project by 2050. Marubeni is promoting green hydrogen and ammonia produced using renewable energy without any emissions by signing an agreement with Australian independent Woodside Petroleum, which will study the production and export of ammonia produced from hydropower in Australia's Tasmania state.
By Nanami Oki