Varo Energy and Höegh Autoliners have signed a strategic partnership agreement aimed at advancing the decarbonisation of maritime sectors.
This collaboration focuses on supplying 100% advanced biofuels for deep-sea transportation from Europe, underpinning both companies’ voluntary commitments to superior sustainability standards. This initiative is said to showcase Höegh Autoliners as a frontrunner in the industry, paving the way for greener and more environmentally responsible shipping.
The partnership is aligned with the strategies of both companies: Höegh Autoliners is dedicated to offering ocean transportation solutions with a focus on reducing environmental impact and supporting the decarbonisation of its customers’ supply chains. Varo’s mission is to be the partner of choice for customers by providing them with the low-carbon energy solutions they need in order to decarbonise. The companies bring together the capabilities that enable reductions of GHG emissions associated with the transport and distribution of goods.
Dev Sanyal, CEO Varo said: “Höegh Autoliners is not just a customer but a strategic partner. I am delighted that Varo will be collaborating with Höegh to forge innovative solutions, share insights, and drive sustainable progress, contributing to the ambitions set by the International MaritimeOrganization (IMO) to reduce the carbon intensity of emissions from shipping by at least 40% by 2030, and 70% by 2050, compared with 2008 levels. Together, we aim to help decarbonise deep-sea shipping, leveraging the potential of biofuels and ensuring a more sustainable future for our customers.”
Andreas Enger, CEO Höegh Autoliners, added: “This marks a significant step forward in our commitment to becoming a leader in carbon-neutral deep-sea shipping and in our strategy to reduce our environmental footprint and combat climate change. We are pleased to provide our customers with greener deep-sea transportation solutions as a step toward more environmentally responsible shipping.”
Varo is playing a leading role in biofuels in Europe. In line with its One Varo Transformation strategy, its biofuels business, is focused on reducing the use of food and feed as feedstocks and building assets to manufacture advanced biofuels derived from waste and advanced feedstocks, including Sustainable Aviation Fuels (SAF) and Renewable Diesel (HVO).
Höegh Autoliners shares Varo’s commitment to sustainability and the reduction of carbon emissions in the maritime industry. The company has been actively working toward achieving its vision of a sustainable future for deep-sea shipping.
In 2021, Höegh Autoliners achieved a significant milestone by completing its first carbon-neutral voyage when Höegh Trigger ran on advanced biofuels on its journey from Europe to South Africa. Its commitment to sustainability has continued by sourcing biofuel, with a view to further increase the biofuel supply in 2024. Höegh Autoliners has seen an increasing number of customers opting for biofuels, emphasising the industry’s commitment to sustainability and the need to have trusted partners with long-term solutions to meet their changing needs.
Biofuels, especially those derived from waste and advanced feedstocks, significantly reducing CO2 and other emissions, such as SOx. Their production from organic materials, such as waste oils, contributes to reducing waste and efficient resource utilisation. With lower carbon intensity compared to conventional fossil fuels, biofuels release fewer carbon emissions per unit of energy, contributing to a cleaner and greener maritime industry. Furthermore, biofuels are compatible with existing ship engines and infrastructure, facilitating a smooth transition to more sustainable fuel options without costly modifications, and they have a positive impact on air quality by emitting fewer pollutants that affect human health.
