Neste, the Finish sustainable fuel producer, has today signed a letter of intent to join Ahti Pool’s FuelEU Maritime compliance pool, increasing Ahti Pool’s total vessels under management to nearly 250.
By partnering with Ahti Pool, Neste will bring its heavily EU-exposed fleet, which includes raw material and end-product tankers, as well as dual-fuel LNG and methanol vessels, into Ahti Pool’s growing portfolio.
Ahti Pool’s solution simplifies the management of complex regulations and reduces the compliance burden on operators, while offering the benefits of the pool’s economies of scale. As a neutral solution, Ahti Pool’s pooling system is not bound to any specific compliance option.
The collaboration announced today will allow Neste to monetise the compliance surplus it achieves through its ultra-low-carbon vessels. This is made possible by ships exchanging surpluses between overcompliant and undercompliant vessels within the pool.
FuelEU Maritime is the first EU regulation that requires shipowners to account for ‘well-to-wake’ greenhouse gas emissions (the entirety of emissions that are produced throughout the lifecycle of a vessel). Through the process of monetising a compliance surplus by pooling, Neste is demonstrating potential commercial opportunities within the EU’s new emissions regulations and by investing in low-carbon technology.
Sander Wilgenhof, Head of Shipping at Neste, commenting on the mutual advantages of the partnership, said: “FuelEU Maritime is the first regulation affecting the ‘well to wake’ GHG intensity of our vessels and creates a new level of compliance complexity for us. Working with Ahti will be a cost-effective way for Neste’s fleet to fulfil its FuelEU Maritime obligations, while it also enables a possibility to create an additional revenue stream from selling positive compliance balance created with the ultra-low-carbon vessels in our fleet.”
Risto Kariranta, CEO of Ahti Pool, added: “We are excited to welcome Neste’s fleet, and we look forward to working with the global leader in renewable diesel and sustainable aviation fuel to help Neste create an additional revenue stream from the FuelEU Maritime compliance surplus.”