Japanese carrier Mitsui OSK Lines has signed a memorandum of understanding with Chevron Singapore that will see the creation of a strategic alliance aimed at lowering the carbon intensity of the marine energy industry.
As part of this agreement, the companies will conduct joint research on next-generation fuels in various regions around the world and jointly study safety measures and legislation for lower-carbon efforts in the marine energy industry. They will seek to collaborate on a variety of potential business opportunities that lead to a lower-carbon future.
"Through collaborations such as these, Chevron aims to lead in lower carbon intensity oil products and natural gas and at the same time advance new products and solutions that reduce the carbon intensity of major industries," said Mark Ross, president of Chevron Shipping Company.
“First, we will study and implement all possible means, including the use of next-generation fuels and the introduction of new decarbonisation technologies such as wind power and electricity in tankers that have been chartered for a long period of time,” said MOL senior managing executive officer Nobuo Shiotsu.
“We would then like to expand these efforts to other parts of our business.”
MOL’s goal is to achieve net-zero greenhouse gas (GHG) emissions by 2050. Through this alliance with Chevron, it will pursue fuel efficiency improvement and GHG reduction of vessels and contribute to the realisation of a low-carbon and decarbonised society.
