Nordic energy company Gasum has announced a partnership with Finnish shipping company Wasaline to establish the first large-scale commercial FuelEU Maritime pooling service. This collaborative effort aims to provide a streamlined and cost-effective solution for conventional fuel vessels to manage compliance costs related to upcoming emissions regulations.
Wasaline operates a hybrid ferry capable of utilizing both batteries and LNG, as well as bio-LNG, transporting passengers and cargo between Finland and Sweden. By integrating its ferry operations into the pooling service, Wasaline will enhance compliance by using bio-LNG for its daily route, thereby offering over-compliance to the pool.
Gasum, recognized as a leading bio-LNG producer and distributor, will oversee the pooling initiative, ensuring a reliable supply of ultra-low emission bio-LNG for Wasaline’s operations. This partnership not only guarantees a consistent supply of renewable fuel but also adds predictability to the pooling service, which is critical for effective compliance management.
A Reliable Pooling Solution for Shipping Companies
Jacob Granqvist, Gasum’s Vice President of Maritime, emphasized the unique position of Gasum in providing a comprehensive pooling solution. “As a major bio-LNG producer and supplier, Gasum is in a unique position to provide a reliable full-service pooling solution to shipping companies. Customers have shown a strong interest in a pooling service offered by Gasum. Our long experience and strong relationships in the maritime market give us a competitive advantage that few other companies can provide,” he stated.
Wasaline’s CEO, Peter Ståhlberg, echoed this sentiment, expressing excitement about the initiative. “We at Wasaline are excited by the opportunity to participate in a solution that has the potential to increase the production and use of renewable biofuels. We prioritize innovation and sustainability in shipping and are happy to be able to help others reduce emissions and drive the green transition forward in our industry.”
Navigating Regulatory Changes
The FuelEU Maritime regulation, initiated by the European Union, aims to boost the adoption of renewable and low-carbon fuels while reducing greenhouse gas emissions in the shipping sector. Starting in 2025, vessels over 5,000 gross tonnage calling at EU ports will be required to cut the carbon intensity of their purchased fuel by 2%, with the reduction target increasing incrementally to as much as 80% by 2050.
To facilitate compliance, FuelEU Maritime allows for voluntary pooling of emission reductions among vessels. This means that vessels exceeding compliance can compensate for those falling short, effectively enabling the provision of compliance as a service.
The Future of Renewable Fuels
Gasum is committed to expanding the availability of bio-LNG and e-LNG. Bio-LNG, derived from liquefied biomethane, is a fully renewable fuel with lifecycle greenhouse gas emissions averaging 90% lower than those of fossil fuels. Gasum produces biogas at its 17 biogas plants located in Finland and Sweden and has established partnerships with certified biogas producers across Europe. The company is also set to introduce renewable e-methane to the market by 2027.
With ambitious plans to supply 7 TWh of renewable gas annually by 2027, including both biomethane and e-methane, Gasum aims to contribute to a significant carbon dioxide reduction of approximately 1.8 million tons per year for its customers.
The collaboration between Gasum and Wasaline marks a significant step towards facilitating compliance for shipping companies while promoting the use of sustainable fuels. As the maritime industry faces increasing regulatory pressures to reduce emissions, innovative solutions like Gasum’s FuelEU Maritime pooling service will play a crucial role in driving the transition to cleaner shipping practices.
About Wasaline
Wasaline is the northernmost shipping line in the world, operating daily passenger and freight services between Vaasa in Finland and Umeå in Sweden. This vital route plays a crucial role in ensuring security of supply between the two countries. The company’s hybrid ferry, Aurora Botnia, is equipped with advanced dual-fuel engines and batteries, making it an environmentally friendly option for transportation. Both Aurora Botnia and Wasaline’s services have been awarded the Key Flag, recognizing their commitment to promoting Finnish work and sustainability in the maritime industry.
About Gasum
Gasum is a leading Nordic energy company specializing in cleaner energy solutions. It provides cleaner energy and expert services for industry, combined heat and power production, and fuel solutions for road and maritime transport. With approximately 340 employees across Finland, Norway, Sweden, and Germany, Gasum generated EUR 1,457 million in revenue in 2023. The company is owned by the State of Finland and is dedicated to advancing a carbon-neutral future both on land and at sea.
Source Gasum Ltd.