MOL, GCMD team up to accelerate decarbonisation in maritime Industry

The Global Centre for Maritime Decarbonisation (GCMD) and Japanese shipping major Mitsui O.S.K. Lines (MOL) have entered into a five-year agreement to collaboratively address the challenge of decarbonisation in the maritime industry, MOL said on August 8.

As an impact partner of Singapore-based GCMD, MOL will utilise its expertise and make various contributions and collaborations through its participation in GCMD's projects, including providing access to vessels, operating data and evaluation reports so that internal learnings can be shared publicly and used for future trials.

“We are excited to tap on MOL's track record in developing technical energy efficiency measures to broaden our perspective as we scope an initiative to help increase industry adoption of measures that can increase fuel efficiency of ships,” Lynn Loo, CEO of the GCMD, said.

"We are very pleased to be a partner of one of the most important global coalitions. We will make our biggest effort to contribute and accelerate progress towards the net zero future in maritime industry, together with GCMD and all its partners,” Toshiaki Tanaka, COO of MOL, said.

The GCMD, established as a non-profit organisation, serves as a hub for collaborative efforts to drive maritime decarbonisation. It engages a wide range of partners from the maritime industry, including strategic partners such as the Maritime and Port Authority of Singapore (MPA), BHP, BW Group, Ocean Network Express, and others.

The center aims to shape standards for future fuels, pilot low-carbon solutions, finance innovative projects, and promote cross-sector collaboration to eliminate GHG emissions from the maritime sector.