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MOL and Shell to advance decarbonisation in maritime sector
Mitsui O.S.K. Lines, Ltd and Shell Marine Products Singapore are working to raise the environmental awareness surrounding the shipping industry. In order to quickly respond to the rising GHG emissions, both companies have agreed to work together to reduce GHG emissions from ships and have signed a memorandum of understanding. Going forward, they will promote the use of clean marine fuel by leveraging their respective knowledge as fuel suppliers and shipping companies.
The Mitsui O.S.K. Lines Group has positioned environmental strategy as one of the key strategies in its management plan, ``BLUE ACTION 2035,'' and has set a goal of achieving net zero GHG emissions by 2050, the first company in the Japanese ocean shipping industry to do so. As part of their joint research with Shell Marine, they will examine the feasibility of using clean marine fuels such as biofuels and e-fuels.
Through this cooperative relationship, both companies will work together to involve their respective industries and stakeholders, and by combining their knowledge, they will focus on strategic efforts toward decarbonization and clean ships in the carbon market, while keeping a close eye on trends in the introduction of environmental regulations. They plan to carry out verification of the effectiveness of the fuel.
Kazuhiro Takahashi, Executive Officer of Mitsui O.S.K. Lines, said, ``We are pleased to sign this memorandum of understanding with Shell Marine, which is in a position to lead the decarbonization of the shipping industry. "We are confident that this will be an important step forward. Choosing a marine fuel requires a strategic decision, which requires working with an experienced and reliable partner."
Shell Marine President Melissa Williams said: “We are pleased to further strengthen our long-standing relationship with MOL. I would like to conduct research.''