Mitsui O.S.K. Lines (MOL) and Shell Marine Products Singapore, a business division of Shell Eastern Trading Pte., have signed a Memorandum of Understanding (MoU) for a joint focus on alternative maritime solutions and to collaborate on managing carbon emissions liabilities holistically.
In particular, MOL group has positioned its environmental strategy as one of the key strategies in its “BLUE ACTION 2035” management plan, and has set the target of achieving net zero GHG emissions by 2050.
The MoU will play an important role in progressing MOL’s decarbonisation ambitions. As part of the agreement, the two companies will look to jointly conduct trials to explore the viability of bio- and synthetic fuel options as realistic decarbonisation pathways.
Kazuhiro Takahashi, executive officer at MOL, commented, “We are pleased to execute this MOU with Shell, one of the most prominent companies leading the decarbonisation in the shipping society. We believe this MOU will be an important step for both businesses to drive impactful change in the industry.”
He added, “Choices of marine fuel will require a strategic decision, then the collaboration with experienced and reliable partners is essential.”
