Energy-saving technologies to reduce GHG emissions and fuel costs

NYK will install a Variable Compression Ratio (VCR) system on LNG (liquefied natural gas) fueled car carriers to be built by Shin Kurushima Dockyard Co., Ltd. The first vessel is scheduled to be delivered in 2026.

The VCR system can adjust the air compression ratio in the engine combustion chamber to an optimal balance according to engine power and LNG fuel properties. This optimal adjustment will improve fuel efficiency during operation by about 3% in LNG gas mode and about 6% in diesel oil mode. The system is also expected to play an important role in reducing GHG emissions from existing ships and improving engine efficiency when decarbonized fuels are introduced.

Using its technology and experience with large low-speed marine engines, Mitsui E&S DU Co., Ltd. developed the VCR system together with Winterthur Gas & Diesel Ltd, a Swiss engine licensor.

In the "NYK Group ESG Story 2023" published in November, we set new targets that include a "45% reduction of the NYK Group's GHG (Scope 1+2) emissions by FY2030 (versus FY2021)" and "Total net-zero GHG (Scope 1+2+3) emissions by FY2050 for the NYK Group.”
In particular, with regard to reducing GHG emissions in Scope 1+2, one of the tactics is to maximize energy efficiency, and improving fuel efficiency through technological enhancement is essential to achieving the new decarbonization targets set by the NYK Group. The NYK Group will continue to actively collaborate with partners in Japan and overseas to promote initiatives related to energy-saving technologies, with the aim of realizing a decarbonized society.

Our New Decarbonization Targets (Excerpt from NYK Group ESG Story 2023)

Participation in this demonstration test is part of business activities related to Sail GREEN, a brand that emphasizes NYK's efforts to reduce GHG emissions through the transport of goods and contribute to the eco-friendly supply chains of customers, regardless of the mode of transport (e.g., by sea or land, through terminals, etc.).

On March 10, 2023, the NYK Group released its medium-term management plan “Sail Green, Drive Transformations 2026 — A Passion for Planetary Wellbeing.” The NYK Group is promoting growth strategies with ESG at the core, based on the Group’s mission statement of “Bringing value to life” and a new corporate vision for 2030, which reads, “we go beyond the scope of a comprehensive global logistics enterprise to co-create value required for the future by advancing our core business and growing new ones.”