MOL & Shell partner for sustainable marine fuels, carbon strategy

On September 8, 2023, Japan’s Mitsui O.S.K. Lines, Ltd. (MOL) and Shell Marine Products Singapore, a division of Shell Eastern Trading Pte. Ltd, announced a memorandum of understanding (MoU) to jointly explore alternative maritime solutions and comprehensive carbon emission management. This partnership aims to leverage their combined expertise as a fuel supplier and shipping company to pioneer the development of sustainable marine fuels.

MOL has integrated its environmental strategy into its “BLUE ACTION 2035” management plan, marking its commitment as the first Japanese ocean shipping company targeting net-zero greenhouse gas (GHG) emissions by 2050. This MoU is a significant step towards realising MOL’s decarbonisation goals, emphasising collaborative research initiatives. The partnership will also jointly conduct trials to assess the feasibility of bio- and synthetic fuel options as potential decarbonisation strategies.

Furthermore, this collaboration presents a unique opportunity for both Shell and MOL to engage with industry stakeholders on strategic policy matters. By merging their insights, the companies aim to understand and explore effective compliance measures, especially in the context of evolving carbon markets.

Kazuhiro Takahashi, an executive officer at MOL, expressed his enthusiasm, stating, “This MoU with Shell, a leader in shipping decarbonisation, marks a pivotal step for both companies to instigate meaningful change in the industry. The selection of marine fuel demands strategic decisions, making collaborations with experienced partners crucial.”

Melissa Williams, president of Shell Marine, echoed this sentiment, “Our longstanding relationship with MOL continues to flourish. With this MoU, we’re committed to joint studies that evaluate regulatory impacts and explore pathways for the shipping industry’s successful decarbonisation.”