NYK Bulkship contracts with Neste for ocean transport of renewable diesel

In Singapore, NYK Bulkship (Asia) Pte. Ltd., an NYK Group company based in Singapore, has signed a Contract of Affreightment (COA) with Neste Shipping Oy, a wholly owned subsidiary company of Neste Oyj (Neste) headquartered in Finland, for the ocean transportation of renewable diesel.

In December 2020, NYK Bulkship (Asia) made the first spot contract for the ocean transportation of renewable diesel, and delivery of the cargo was successfully completed in February 2021.

Neste Renewable Diesel (NRD) is produced from globally sourced wastes and residues such as waste animal fat, residues from vegetable oil, used cooking oil. It is reported that the chemical properties of the product are similar to those of fossil diesel, and reduces Greenhouse gas (GHG) emissions up to 90% compared to fossil diesel. NYK Bulkship (Asia), an MR (medium range) product/chemical tanker operator will be transporting the product from Singapore to North America for the COA.