Mitsui O.S.Ok. Lines, Ltd. (MOL) and Shell Marine Products Singapore, a enterprise division of Shell Eastern Trading Pte. Ltd (Shell), have signed a memorandum of understanding (MOU) to collectively deal with the development of other maritime options and managing carbon emissions liabilities holistically, notably within the growth of inexperienced future marine fuels.
As a part of the settlement, the 2 firms will look to collectively conduct trials to discover the viability of bio- and artificial gasoline choices as real looking decarbonization pathways. The collaboration additionally gives a possibility for Shell and MOL to work collectively to have interaction the trade and its stakeholders on strategic coverage points. As a part of the settlement, the businesses can even discover the effectiveness of those fuels within the context of carbon markets.
For MOL, the MOU will assist to progress its decarbonization ambitions as the primary firm within the Japanese ocean transport trade to set a goal of reaching web zero greenhouse gasoline (GHG) emissions by 2050.
Kazuhiro Takahashi, government officer at MOL, stated, “We believe this MOU will be an important step for both businesses to drive impactful change in the industry. Choices of marine fuel will require a strategic decision, then the collaboration with experienced and reliable partners is essential.”
Melissa Williams, president of Shell Marine, stated, “With this MOU, we will focus on joint studies in understanding the impact from different regulatory environments as well as exploring possible pathways for the successful decarbonization of the shipping industry.”
