A new established Japanese Consortium consisting of the shipowners Idemitsu Tanker, IINO Kaiun Kaisha (IINO Lines), Nippon Yusen Kabushiki Kaisha (NYK), and the shipbuilder Nihon Shipyard will conduct a joint research and development of design concepts for very large crude oil carriers (VLCCs), with the aim of reducing greenhouse gas emissions.
Idemitsu Tanker initiated the formation of this consortium by the four companies to study optimal design solutions for vessel particulars, machinery, and environmental equipment for the largest vessel type capable of passing through the Strait of Malacca (Malacca Max type).
The companies state that a stable supply of crude oil remains essential to the energy needs of Japan, which relies on the Middle East for more than 90% of the nation’s crude oil imports.
VLCCs transporting crude oil are thus vital to Japan’s economy. To minimize greenhouse gas emissions generated during transportation, shipping companies are considering switching from conventional fuels to next-generation fuels and installing environmentally friendly equipment, such as Carbon Capture and Storage Systems (CCS), among other measures, as NYK reports.
The aim of the new consortium is to reduce greenhouse gas emissions by 40% or more compared to previous levels.
“The consortium will combine expertise in the four companies’ respective fields to verify/select the effectiveness of next-generation fuels and environmentally friendly equipment, as well as create design concepts, with a view to ultimately building and operating VLCCs,” reads NYK’s statement.
