Japanese shipping giant Mitsui OSK Lines (MOL) has joined forces with Chevron Singapore to jointly develop marine fuels with lower carbon intensity.
The partnership will see joint studies carried out on next-generation fuels in various regions around the world including safety measures and legislation for lower-carbon efforts in the marine fuels sector.
“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,” said Mark Ross, president of Chevron Shipping Company, adding: “This is another way Chevron is working to advance energy progress.”
As part of its decarbonisation goals, MOL has been exploring many alternative fuel projects, including ammonia, hydrogen, and methanol, while also developing its own hard sails and going after less conventional forms of energy, such as converting microplastics it picks up from the sea into energy resources similar to wood pellets and most recently liquefied bio-methane derived from cattle manure.
MOL’s senior managing executive officer Nobuo Shiotsu said the partnership will study and implement all possible means, including the use of next-generation fuels but also the introduction of wind power and electricity in tankers on long-term charters.
Chevron and MOL last year also teamed up to study the feasibility of transporting liquified carbon dioxide (CO2) from Singapore to permanent storage locations offshore Australia.
