On  13^th May 2024, Chimbusco Pan Nation Petro-chemical Co Ltd (CPN), the leading marine fuel oil provider in Hong Kong,  supplied over 4,300 metric tons of ISCC-EU certified B24 high-sulphur marine biofuel to "COSCO NETHERLANDS”, an ocean-going container vessel operated by COSCO Shipping Holdings Co., Ltd. (COSCO) This marks the first-ever B24 High-Sulphur Marine Biofuel supply operation in Hong Kong and it also signifies a noteworthy milestone for COSCO's decarbonization strategies.  B24 marine biofuel is a blend of 24% B100 biodiesel and Marine Fuel Oil, which significantly contributes to reducing carbon emissions and promoting environmental sustainability.

The B24 High-Sulphur Marine Biofuel supply operations is an achievement that highlights CPN's dedication to sustainable development. Since 2021, CPN has established a dedicated taskforce to conduct research on alternative fuels, including Marine Biofuel, which aimed at contributing to a more sustainable shipping industry, and completed supplying B24 marine biofuel to more than ten ocean-going vessels. Compared to conventional marine diesel, B100 biodiesel can reduce carbon emissions by at least 84%, showcasing significant potential for carbon reduction in the global shipping industry.

CPN remains committed to promoting environmental sustainability and advancing marine bunkering practices. The company will continue to develop and supply innovative alternative fuels, contributing to higher environmental protection standards in the global shipping industry. Meanwhile, COSCO will collaborate with suppliers to drive sustainable development in the maritime sector, striving to bring more environmentally friendly solutions to the port supply chain.