On November 28,2025, NYK invested in XFuel Limited (XFuel), a company that has developed innovative technology to refine liquid hydrocarbons derived from waste into low-carbon fuel. By advancing collaboration with XFuel — including the recycling of fuel sludge (fuel tank sediment) generated from our operating vessels — we aim to drive the development of advanced decarbonization technologies that utilize existing fuels.

XFuel’s proprietary chemical liquid refining technology* is groundbreaking. It is capable of efficiently converting waste-derived liquid hydrocarbons into high-purity, low-carbon fuel suitable for marine applications. This innovative process not only repurposes existing fuel waste but also offers an economically and logistically viable decarbonization solution that requires no modifications to engines or infrastructure, thereby promising to accelerate environmental initiatives within the shipping industry.

Going forward, under our partnership with XFuel, we will actively pursue opportunities to supply sludge — a waste product from our vessels — as a raw material, purchase low-carbon fuel as a product, and collaborate across the entire supply chain to further our sustainability objectives.