MOL, Chevron sign maritime decarbonisation MoU
Mitsui O.S.K. Lines, Ltd. (MOL) and Chevron Singapore PTE. LTD.
have signed a Memorandum of Understanding (MoU) to reduce the carbon intensity
of their maritime energy industries.
As part of this agreement, the two companies will conduct a joint research
on next-generation fuels in various regions around the world, and jointly study
safety measures and legislations for lower-carbon operations.
Mark Ross, President of Chevron Shipping Company, stated: “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.”
Nobuo Shiotsu, MOL Senior Managing Executive Officer, said: “MOL is
honoured to have the opportunity to jointly study GHG emission reductions
through this MoU with Chevron.
“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.
“We would then like to expand these efforts to other parts of our
business.”
MOL aims to increase vessel fuel economy and reduce GHG emissions through
its collaboration with Chevron.
In March of this year, MOL signed a MoU to build a clean hydrogen and
ammonia value chain derived from renewable energy sources in southern
Thailand.
More recently, Marlink, a digital solutions provider, assisted MOL in
assessing the impact of low-earth orbit (LEO) internet services on business
sustainability and crew wellbeing.
