- Chevron biofuels are helping reduce the carbon intensity of the maritime industry, aligning with International Maritime Organization (IMO) guidelines.
- Biofuels are derived from organic matter, require minimal engine modifications, and are ready for immediate use.
- Chevron has achieved key milestones, including becoming a leading marine biofuels supplier in Singapore and expanding its global reach.
Chevron is advancing biofuel adoption in the maritime sector, aiming to help shipowners reduce greenhouse gas emissions. With new IMO guidelines in place, biofuels offer a sustainable alternative that aligns with decarbonization goals while ensuring operational efficiency.
Biofuels as a Maritime Solution
Biofuels are derived from biomass like used vegetable oils and algae, serving as drop-in replacements for petroleum fuels.
These lower-carbon alternatives require minimal engine modifications, making them practical for immediate use in existing fleets.
Chevron’s Key Achievements
Chevron has made significant strides, including:
- Ranking as the second-largest marine biofuels supplier in Singapore.
- Securing long-term contracts with top global container lines.
- Collaborating with the Global Centre for Maritime Decarbonisation to test biofuels in real-world scenarios.
- Expanding its biofuel supply to U.S. ports.
Industry Context and Growth Potential
International shipping contributes to 2% of global energy-related CO2 emissions. In Singapore alone, over 4 million tons of fuel are sold monthly, but biofuels represent a small fraction.
This highlights the immense potential for growth as the industry embraces lower-carbon options.
Looking Ahead
Chevron aims to expand biofuel volumes, diversify feedstock sources, and strengthen partnerships with shipowners to achieve carbon intensity goals.
The company is committed to leveraging global collaboration to drive sustainable advancements in maritime fuel solutions.
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Source: Chevron
