biofuels steer into maritime sector

Since early 2022, Chevron has completed more than 50 successful biofuels deliveries to global strategic shipowners in the Singapore port.

Biofuels can quickly change transportation sectors for the better. When used as a marine fuel, biofuels can reduce greenhouse gas (GHG) emissions on a lifecycle analysis.

“Biofuels have made an immediate impact in the maritime sector,” said Jon Scharingson, Chevron Renewable Energy Group’s executive director of strategic initiatives. “And we’re just getting started.”

Through partnerships, research, development and our 2022 acquisition of Renewable Energy Group, Chevron is committed to increasing our presence in the biofuels market and supporting the transition to a lower carbon future.

Chevron collaborates with a variety of biofuels producers and customers worldwide. Particular to shipping, we have:

• Engaged key global strategic shipowners to develop biofuel partnership opportunities.
• Secured marine biofuels supply deals with more than five leading shipowners.
• Filed for a patent for biofuel blending.

“We are pleased with the success of more than 50 biofuel deliveries to vessels belonging to our strategic shipowner customers, ” said Frankie Lee, vice president of Chevron Product Supply and Trading, Asia Pacific.

These endeavors will help us expand our options for lower carbon shipping and increase our pursuit of other lower carbon shipping collaboration opportunities with key customers.

“While biodiesel and renewable diesel got their start in the on-road transportation sector, our fuels are making an impact beyond trucking,” said Kevin Lucke, president of Chevron Renewable Energy Group. “The demand for lower carbon energy solutions is increasing in sectors like marine, and our customers are looking to us to help meet their lower carbon goals.”

To strengthen our position in biofuels for shipping, in April 2022 we joined the Global Centre for Maritime Decarbonisation (GCMD), a nonprofit organization working to eliminate GHG emissions from the maritime industry.

“Our partnership with GCMD and its members provides the industry-wide collaboration and innovation necessary to address a hard to abate sector like maritime,” said Mark Ross, president of Chevron Shipping Company.

We are also purposely developing our marine biofuels offerings from renewable, waste-based feedstocks so as not to compete for food crops.

This article was updated 7/17/2023.