MOL, Shell team up to advance decarbonisation in maritime sector

Japanese shipping major Mitsui O.S.K. Lines (MOL) and Shell Marine Products Singapore, a unit of energy company Shell, have signed a memorandum of understanding (MoU) to focus on the advancement of alternative maritime solutions and managing carbon emissions liabilities, MOL announced on September 8.

The MoU will see the two companies collaborate on a number of initiatives, including conducting joint trials to explore the viability of bio- and synthetic fuel options as realistic decarbonisation pathways, engaging the industry and its stakeholders on strategic policy issues related to decarbonisation and exploring the effectiveness of alternative fuels in the context of carbon markets.

Kazuhiro Takahashi, executive officer at MOL, said: "We are pleased to execute this MoU with Shell, one of the most prominent companies leading the decarbonisation in the shipping society. 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, said: "We are delighted to build upon our long-standing relationship with MOL. 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 decarbonisation of the shipping industry."