Safe Bulkers Inc. (NYSE: SB), an international provider of marine dry-bulk transportation services announced that in the framework of several environmental initiatives targeting to reduce its carbon footprint, it is assessing the use of biofuels as alternative fuels. A number of pilot projects have been designed to test the operational performance and the interaction of biofuels with the vessel’s main engine and diesel generators operations and assess the CO2 emissions reduction.
The first pilot project was carried out in M/V Troodos Oak which received 346 metric tonnes of Bio-Fuel blend B20, consisting of 20% Spent Bleaching Earth Oil mixed with conventional Very Low Sulphur Fuel Oil (“VLSFO”). The project was performed in cooperation with vessel’s charterer Cargill, Cargill Marine Fuels and Oilchart as suppliers of the blended bio bunkers, the vessel’s classification society Lloyds Register (“LR”) and Cyprus Flag.
The trial followed the guidelines of EU’s Renewable Energy Directive “RED II” on calculating CO2 emissions. The trials resulted in a 13.54% CO2 equivalent reduction compared to conventional VLSFO. No modification to existing ship equipment was required. No operational abnormalities or wear have been observed in main engine and diesel generators.
For the purpose of CO2 emissions reporting schemes European Union – MRV scheme and International Maritime Organization DCS scheme, the reported CO2 emissions as verified by LR and accepted by Cyprus Flag are by 20% lower compared to the VLSFO.
The Company will continue to explore potential use of biofuel blends in its decarbonization alternatives by further expanding the project with its partner Cargill, to include additional vessels and higher biofuel blends, measuring in addition the nitrogen oxide emissions.
Dr. Loukas Barmparis, President of the Company commented: “The successful pilot project that we have completed with Cargill is encouraging for the use of biofuels as alternative fuels. We will continue to assess their use in parallel to other available technologies targeting to optimize our operations and improve our environmental footprint.’’