UPM and Bore (Spliethoff) join Ahti Pool

Global material solutions company UPM and Bore Ltd, part of leading Dutch shipping company Spliethoff Group, have joined Ahti Pool to promote the decarbonisation of shipping operations and comply with FuelEU Maritime regulation.

Ahti Pool’s FuelEU Maritime-compliant pooling model offers a smart and effective solution for shipping operators to use and trade ultra-low-carbon fuels like e-methanol or bio-LNG, and to pool compliance for the rest of their fleet. This means that Ahti Pool’s members can buy and sell credits for the use of sustainable fuels, thereby reducing CO2 emissions, cutting costs, and increasing operational flexibility.

The FuelEU Maritime regulation came into force on January 1, 2025, with the goal of increasing the share of renewable and low-carbon fuels in the fuel mix of international maritime transport within the EU. In essence, the regulation imposes higher costs on companies that continue to remain reliant on conventional fossil fuels, thereby incentivising a shift toward cleaner alternatives.

Under FuelEU Maritime each marine fuel has a well-to-wake greenhouse gas intensity, expressed in grams of CO2 equivalent per megajoule (gCO2e/MJ). Fuels that achieve emissions below the threshold generate a surplus of compliance, while those exceeding it incur deficits of compliance and must pay penalties or purchase compliance credits from those in surplus. Because of its low lifecycle CO2 emissions, Bio-LNG can generate substantial surplus for ship operators who use it.

Since 2019, the Spliethoff Group and UPM have maintained a long-term charter agreement, which includes the deployment of dual-fuelled vessels by Bore Ltd – member of the Spliethoff Group – for UPM. These vessels can run on both bio-LNG and conventional marine fuels. As a member of Ahti Pool, all three of Bore’s ships will use bio-LNG and add their compliance into the pool. 

“By welcoming UPM, we are not only expanding our network with highly recognised partners but also enabling UPM to achieve near net-zero carbon maritime transport on the routes where Bore’s ships operate at a competitive cost level,” says Risto-Juhani Kariranta, CEO of Ahti Pool.

"We are pleased to join Ahti Pool [as] their innovative pooling model enables us to reduce the CO2 emissions of our supply chain and comply with FuelEU Maritime," says Jukka Hölsä, VP of Logistics at UPM. "We can now deliver our products with Bore’s ships across Europe with increased efficiency, almost zero carbon, and very competitive prices for our clients. We estimate that we can reduce CO2e emissions by up to 16,000 tons annually through this cooperation.”

“Our work together with UPM and the entire Spliethoff Group is a great example of how companies can assist each other towards their environmental goals” says Janne Kauppila, CEO of Bore. 

“The strategic partnership between UPM and Spliethoff Group companies has a long history which is built on strong commitment to sustainable shipping solutions," remarks Michael van den Heuvel, CCO of Spliethoff. “Cooperating with Ahti Pool aligns perfectly with our long-standing commitment to environmental stewardship.”

“Having UPM and Bore on board as new members significantly enhances Ahti Pool’s capacity to enable seamless compliance for all its members, as well as establishing a stable foundation for conformity with the IMO's Net Zero Framework,” Kariranta explains. “The companies complement our shipowner pool, which includes Neste’s tanker fleet and Van Weelde Group’s handysize and ultramax fleet, as well as partners such as NAPA, Carbonex, and New Asia Shipbrokers.”