Mitsui O.S.K. Lines and Shell sign memorandum of understanding to promote decarbonization of the shipping sector
Mitsui O.S.K. Lines, Ltd. and Shell Marine Products Singapore are working to improve 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, we will promote the use of clean marine fuel by leveraging our respective knowledge as fuel suppliers and shipping companies.
Signing ceremony
(from left: Mitsui O.S.K. Lines Executive Officer Kazuhiro Takahashi, Shell Marine President, Ms. Melissa Williams)
The Mitsui O.S.K. Lines Group has positioned environmental strategy as one of the key strategies in its business 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 our joint research with Shell Marine, we 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, we 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. We 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 a leader in decarbonizing 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.''
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