The Great Eastern Shipping Company Limited with support from the Director General of shipping, India & Indian Registry of Shipping have successfully completed India's first trials on an MR tanker in international waters using biofuel-blend.
The biofuel grade B20M, a blend of ISCC certified 20% FAME biofuel and 80% VLSFO was bunkered at Dubai anchorage, UAE from a German company UNIPER Energy and the trials were conducted in international waters. There were no challenges faced during these trials.
Biofuel is a fuel that is derived from renewable sources - in this case, waste oils such as used cooking oil. Biofuels are considered to be carbon-neutral because the carbon dioxide that is absorbed by the source of the biomass is equal to the carbon dioxide that is released when the fuel is burned, thus helping the fuel to gain more attention around the world.
The sustainable biofuels can be used as a marine 'drop-in fuel' to help reduce carbon emissions in shipping.
GE Shipping is India's largest private sector shipping company which owns and commercially manages a fleet comprising of tankers and bulk carriers. This trial is a milestone in our journey towards decarbonisation.
Shares of The Great Eastern Shipping Company Limited was last trading in BSE at Rs. 426.75 as compared to the previous close of Rs. 416.15. The total number of shares traded during the day was 27338 in over 1701 trades.
The stock hit an intraday high of Rs. 437.40 and intraday low of 414.15. The net turnover during the day was Rs. 11692869.00.