The tanker company has announced five key dates on its pathway to becoming a net zero business by 2050.
The company has already hit its first decarbonisation when it began offering its customers low carbon shipping options, based on the use of biofuels and an internal carbon emissions offsetting programme.
Next year, Stena Bulk will launch the first of three planned carbon neutral-ready, methanol fuelled vessels in collaboration with Proman. This methanol fuelled vessel will also be able to be run on VLFSO. This collaboration with Proman will directly support the achievement of Stena Bulk’s second organisational milestone, which will require every new ship in the company’s fleet from 2030 to have plan for upgrading to carbon neutral status, either by retrofitting new technology or switching to carbon neutral fuels. Such a plan, ‘should be fully realisable, achievable and pre-planned from day one,’ said Stena Bulk.
The third milestone in Stena Bulk’s decarbonisation’s journey is linked to the recently unveiled vessel design InfinityMAX concept. The company aims to have a ship with a similar design to the InfinityMAX concept operating on the water by 2035 at the latest.
By 2040, Stena Bulk aims to achieve its fourth decarbonisation target by becoming a fully carbon neutral tanker operator. This will be achieved through a combination of measures: some of the company’s vessels will be zero emissions, some will run on carbon-neutral fuels, and there will be carbon emissions offsetting programs in place to fully achieve the carbon neutral operations goal.
The company will achieve its final milestone in 2050, when it is seeking to become a fully net zero emissions business. This means that Stena Bulk will not only take accountability for its operations and the indirect emissions connected to the business, but also for the cargo carried by its vessels.
By 2050, all cargo carried by the Stena Bulk fleet will need to be climate neutral, and this will become a shared responsibility between Stena Bulk and its customers.
Erik Hånell, President & CEO, Stena Bulk, commented on the roadmap: ‘The shipping industry collectively faces a challenge where we must consider how we alter our entire energy needs. In order to decarbonise, the maritime community must take risks, push sustainability boundaries, and embrace a partnership approach that enhances collaboration between industry partners and customers.
‘The set of decarbonisation targets and wider roadmap that we are presenting today is another example of Stena Bulk’s commitment to a sustainable shipping future, and we are immensely proud to be one of the first industry players to propose a plan that makes our own net zero journey tangible, achievable, and measurable.’