MOL partners with Chevron to aid low-carbon efforts

Japanese shipping firm Mitsui O.S.K. Lines (MOL) and Chevron Singapore, an unit of oil giant Chevron, have inked a deal that intends to lower “the carbon intensity of the marine energy industry.”

PHOTO: The MOL Cajun Sun can run on methanol and conventional marine fuels. VesselFInder

Under the agreement, both companies will jointly conduct research on “on next-generation fuels” globally and study “safety measures and legislation for lower-carbon efforts in the marine energy industry.”

Both companies will also partner on a “variety of potential business opportunities” that will aid in reducing carbon emissions.

“First, we will study and implement all possible means, including the use of next-generation fuels and the introduction of new decarbonization 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’s senior executive officer Nobuo Shiotsu says.

By Tuhin Roy

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