Mitsui O.S.K. Lines, Ltd. (MOL), a prominent figure in the maritime industry, has taken a significant step towards accelerating decarbonisation by teaming up with the Global Centre for Maritime Decarbonisation (GCMD). This impactful five-year partnership, officially announced today, aims to address the pressing challenge of reducing greenhouse gas emissions within the maritime sector.
The maritime industry’s journey toward decarbonisation demands close collaboration and robust investments from various stakeholders, including shipping companies, customers, ports, energy suppliers, and the public sector. As an Impact Partner of GCMD, MOL brings its extensive expertise to the table, honed over its rich history, to foster innovation and collaboration. This entails contributing insights, collaborative efforts, and valuable data from its fleet operations to support GCMD’s projects. The shared knowledge will serve as a resource for future trials and initiatives aimed at achieving sustainability within the maritime sector.
MOL, a global leader in the maritime domain, has been at the forefront of discussions surrounding decarbonisation. As the world strives to limit global temperature rise to 1.5 degrees Celsius by 2050, the concept of a carbon budget underscores the need for stringent emission reduction targets. MOL recognizes that while the transition to low or zero-emission vessels is on the horizon, immediate action is essential to curb emissions. This involves deploying measures such as utilizing low-carbon fuels and energy-saving devices onboard vessels. By joining forces with GCMD and its partners, MOL aims to expedite the decarbonisation process within international shipping.
Professor Lynn Loo, CEO of GCMD, expressed enthusiasm about MOL’s involvement, stating, “Having MOL, a prominent shipowner from Japan, join us as an Impact Partner is a source of pride. Leveraging MOL’s experience in developing technical energy efficiency measures will greatly enhance our perspective as we work towards increasing industry-wide adoption of fuel-efficient practices.”
Toshiaki Tanaka, Representative Director, Executive Vice President, and Chief Operating Officer of MOL, affirmed the company’s commitment, saying, “We are delighted to align with one of the most significant global coalitions. Together with GCMD and its partners, we are determined to exert our utmost effort to drive progress towards a net-zero future for the maritime industry.”
The Global Centre for Maritime Decarbonisation (GCMD), established in 2021, operates as a non-profit organization. Backed by strategic partners such as the Maritime and Port Authority of Singapore (MPA), BHP, BW Group, and more, GCMD operates at both the center and project levels to shape standards for future fuels, test low-carbon solutions in real-world conditions, finance pioneering projects, and facilitate cross-sector collaboration.
MOL’s partnership with GCMD is a significant stride toward achieving sustainable maritime practices and bolstering the ongoing efforts to decarbonize the industry. As MOL contributes its valuable insights and resources, the collaboration sets sail on a course towards a more environmentally responsible maritime future.
