NYK and ENEOS ink SPA for bunker fuel with CDR credits

NYK and ENEOS have signed a sale and purchase agreement (SPA) for marine fuel with carbon dioxide removal (CDR) credits created through direct air capture with carbon storage (DACCS).

The agreement, which was signed last Wednesday (11 December), stipulates that ENEOS will procure CDR credits from 1PointFive’s STRATOS direct air capture plant in Texas which is scheduled to start operations in 2025.

The credits are generated by removing CO2 from the atmosphere and storing it underground. ENEOS will then sell these credits, along with the marine fuel it supplies, to NYK for five years starting in 2028.

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