ROYAL CARIBBEAN GROUP PIONEERS BIOFUEL TESTING IN PURSUIT OF SUSTAINABLE CRUISING
Charting a Greener Course: Royal Caribbean's Biofuel Milestone in Maritime Sustainability
Royal Caribbean Group (NYSE: RCL) is making significant strides in the cruise industry's quest for alternative fuel solutions, marking a major milestone with the successful completion of over 12 consecutive weeks of biofuel testing in Europe this week. The company's unwavering commitment to sustainable practices, as embodied in its "SEA the Future" initiative, is driving its mission to protect the planet, empower communities, and foster innovation. By adopting eco-friendly methods to reduce emissions, Royal Caribbean Group is actively propelling the decarbonization of its operations.
Jason Liberty, President, and CEO of Royal Caribbean Group, emphasized the importance of this achievement, stating, "This is a pivotal moment for Royal Caribbean Group's alternative fuel journey. Following our successful trial of biofuels this summer, we are one step closer to bringing our vision for net-zero cruising to life. As we strive to protect and promote the vibrant oceans we sail, we are determined to accelerate innovation and improve how we deliver vacation experiences responsibly."
In a groundbreaking move today in Barcelona, Royal Caribbean International's Symphony of the Seas became the first ship in the maritime industry to successfully test and utilize a biofuel blend to meet a portion of her fuel requirements. The company confirmed that onboard technical systems met operational standards without any quality or safety concerns, underscoring the reliability of the biofuel blend as a "drop-in" supply of lower-emission energy that ships can use to navigate European waters and beyond. The tests conducted throughout Europe also yielded valuable data regarding the availability and scalability of biofuels in the region.
Lluís Salvadó, President of the Port of Barcelona, praised Royal Caribbean's success and emphasized the significance of innovation and collaboration in decarbonizing the maritime sector. Salvadó said, "Innovation and collaboration between ports and shipping companies are key to accelerating the decarbonization of maritime transport."
The company's biofuel testing journey began last year and was expanded this summer in Europe to include two additional ships, Royal Caribbean International's Symphony of the Seas and Celebrity Cruises' Celebrity Apex. The sustainable biofuel blends used in the tests are created by purifying renewable raw materials like waste oils and fats, which are then combined with fuel oil to produce a cleaner and more sustainable alternative fuel. These biofuel blends have received accreditation from the International Sustainability and Carbon Certification (ISCC), a globally recognized organization that ensures the sustainability of biofuels and verifies emission reductions.
Symphony of the Seas, departing from the Port of Barcelona, and Celebrity Apex, departing from the Port of Rotterdam, successfully completed multiple voyages using biofuel, providing crucial data on the fuel's performance. This data will be instrumental in advancing Royal Caribbean Group's plans to continue testing different biofuel types during upcoming European sailings this autumn. The company is also exploring strategic partnerships with suppliers and ports to ensure the availability of biofuel and the infrastructure needed to accelerate the maritime energy transition.
Royal Caribbean Group's commitment to sustainability dates back over three decades, and the company remains steadfast in its dedication to innovative solutions that pave the way for a more sustainable future. To learn more about Royal Caribbean Group's sustainability efforts, visit www.royalcaribbeangroup.com/seathefuture.
About Royal Caribbean Group
Royal Caribbean Group (NYSE: RCL) is a leading cruise company with a global fleet of 64 ships traveling to approximately 1,000 destinations worldwide. It owns and operates three acclaimed cruise brands: Royal Caribbean International, Celebrity Cruises, and Silversea Cruises, and holds a 50% stake in a joint venture operating TUI Cruises and Hapag-Lloyd Cruises. The collective brands have an additional 10 ships on order as of June 30, 2023. For more information, visit www.royalcaribbeangroup.com or www.rclinvestor.com.