MUMBAI - Tata Steel (LON:TISCq) has achieved a significant reduction in carbon emissions by completing a maritime shipment from Australia to India using a biofuel blend, marking a milestone in sustainable shipping practices within the country. The company's cape vessel "MV Cape XL" imported 1,48,500 metric tons of coal from Gladstone, Australia to Paradip, India, with approximately 20% lower carbon emissions compared to traditional methods.
On May 8, 2024, the vessel berthed at Kalinga International Coal Terminal Paradip Private Ltd. (KICTPPL) port after a journey that commenced on April 17, 2024, from Gladstone port. The use of B24-grade biofuel, a mix of used cooking oil methyl ester (UCOME) and very low sulphur fuel oil (VLSFO), contributed to a reduction of around 565 tons of carbon emissions for this voyage.
Peeyush Gupta, Vice President of Tata Steel, emphasized the company's commitment to sustainability, stating that the use of biofuel aligns with its Scope 3 reduction targets. He expressed the company's intention to continue exploring alternative fuel-powered vessels for future shipments.
Despite challenges in sourcing the fuel, Tata Steel, in collaboration with partners Cargill and Banle Energy International Limited, successfully executed this historic shipment. The B24 blend, which consists of 24% UCOME and 76% VLSFO, is currently the benchmark grade for marine biofuel.
This initiative by Tata Steel, a pioneer in the Indian steel industry, sets a new standard for sustainable shipping and reiterates the company's dedication to reducing its environmental impact. The successful voyage from East Coast Australia to India using biofuel blend demonstrates a viable path towards more eco-friendly maritime operations.
The information reported is based on a press release statement.
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