GoodFuels uses blockchain to help BHP and Japanese shipping company fuel up with biofuel

In the Netherlands, global mining company BHP, Japanese shipping company NYK, leading sustainable biofuel company GoodFuels and BLOC (Blockchain Labs for Open Collaboration) the leading developer of blockchain applications for the maritime industry, announced the successful delivery of sustainable biofuels to the BHP-chartered, NYK-owned bulk carrier Frontier Sky, with CO2 savings verified with BLOC’s blockchain fuels assurance platform.

The advanced biofuel, supplied by GoodFuels via logistics partner Varo Energy, is a ‘drop-in’ marine gasoil (MGO)-equivalent, and was blended with conventional fossil-based MGO in a mix of 30% biofuel to 70% conventional MGO. This delivery saves over 50 tonnes of CO2, equivalent to the greenhouse gas (GHG) emissions of approximately 125,000 miles driven by car, and sets the stage for further savings, driven by switching to this carbon neutral fuel.

This is an important step in the decarbonisation strategies of both BHP and NYK. NYK was recently recognised as a global leader on corporate climate action by the environmental non-profit organisation CDP, achieving a place on the Climate Change A-List for its climate strategy. NYK’s reduction targets for GHG emissions are 30% per ton-km by 2030 compared with a 2015 base year, and 50% per ton-km by 2050.