Neste Oyj teamed up with Nordic Marine Oil, to launch Neste Marine 0.1 certified with International Sustainability and Carbon Certification (ISCC PLUS) to cut back on greenhouse gas (GHG) emissions during their lifetime by over 60% in the maritime sector without sacrificing product quality or performance.
Chevron Corporation collaborated with Sembcorp Marine Repairs & Upgrades Pte. Ltd, to install innovative technologies, including a reliquefication system, hull air lubrication, and a new gas compressor to reduce cargo boil-off, deliver more cargo, and reduce the carbon footprint of LNG transportation.
Author Credits: Payel Roy, Dhruv Bhatia
Report ID: 5240
Published Date: Sep 18, 2023
Report Format: PDF, PPT
Frequently Asked Questions (FAQ)
Increasing carbon emissions from the shipping sector across the globe and the implementation of supportive policies are the major factors driving the growth of the market.
The market size of Sustainable Marine Fuel is anticipated to attain a CAGR of 51.2% over the forecast period, i.e., 2024 â€“ 2036.
The major players in the market are Neste Oyj, Targray, ExxonMobil Corporation, GoodNRG B.V., Chevron Corporation, Nordic Marine Oil A/S, TotalEnergies, GAC, Methanex Corporation, and others.
The methanol segment is anticipated to garner the largest market size by the end of 2036 and display significant growth opportunities.
The market in the Asia Pacific region is projected to hold the largest market share by the end of 2036 and provide more business opportunities in the future.