Govt Enforces ‘Melt and Pour’ Rule for All Steel in Public Projects Nippon Steel expected to finalize U.S. Steel acquisition at $55 per share NMDC Limited reports a 38% drop in Q4 FY24 consolidated net profit RINL to Raise $23 Million Through Land Sales Amid Crisis
Tata Steel made history by being the first Indian steel company to undertake a fully loaded voyage from Australia's East Coast to India. According to a news declaration from the company, the cape vessel "MV Cape XL" departed Gladstone port on April 17 after loading 1,48,500 metric tonnes of coal, and arrived at Kalinga International Coal Terminal Paradip Private Ltd. (KICTPPL) port on May 8.
The journey represents a significant turning point in India's maritime sector and a new standard for sustainable shipping methods. The ship was powered by a blend of B24 biofuel and VLSFO, or very low sulfur fuel oil. The current marine biofuel benchmark grade, known as the B24 blend, is made up of 76% VLSFO and 24% used cooking oil methyl ester (UCOME).
During its laden leg from Gladstone to Paradip, MV Cape XL used biofuel which was loaded from its ballast port in Guangzhou, China. Carbon emission for this laden leg voyage was approximately 565 tonnes less, which is 20% less as compared to a traditional cape vessel using VLSFO, aligning with the Company's Scope 3 reduction targets.
"Through the use of biofuel in its maritime operations, Tata Steel not only reiterates its commitment to reducing carbon emissions but also sets a new standard for sustainability in the industry. By choosing a biofuel blend for our voyage from Australia to India, we were able to cut carbon emissions by 20% contributing significantly to our scope 3 reduction targets,” said Peeyush Gupta, Vice President, TQM, Group Strategic Procurement and Supply Chain, Tata Steel.
“We endeavour to undertake more such shipments for imports through alternate fuel-powered vessels, and continue to align ourselves with global efforts towards climate change," Gupta added.
Also Read : Saudi Aramco and Indian businesses are discussing investments ₹11,440 Crore Package for RINL: Hurdles Ahead for Steel PSU
Tata Steel, one of India’s largest steel producers, witnessed a sharp surge in its market capi...
Business 06-Mar-2025
MOIL is set to diversify by stepping into iron ore mining operations. The move aligns with India&rs...
Business 21-Apr-2025
Moradabad: The announcement of tariffs on aluminium and steel by the US President has created anxiet...
Business 28-Feb-2025
Under the Center's Pradhan Mantri Surya Ghar Muft Bijli Yojana Scheme, public sector Indian Bank has...
Renewables 24-Apr-2024
India’s stainless steel industry is witnessing significant challenges as it enters Q1 of FY26....
Announcement 01-Apr-2025
Indian state-run steelmaker Steel Authority of India Ltd's Bokaro Steel Plant (BSP) has signed a pac...
Large Corporate 26-Apr-2024