Mitsui OSK Lines (MOL) Takes a Bold Step Towards Sustainability
Japan’s largest shipowner, Mitsui OSK Lines (MOL), has recently signed a memorandum of understanding (MOU) with Madoqua Renewables to develop a green corridor that connects Portugal to Northern Europe. This innovative project aims to establish a shipping route that utilizes low-emission shipping solutions and focuses on the transportation of low-carbon fuels.
Collaborative Efforts for a Sustainable Future
In addition to MOL and Madoqua, the MOU includes a diverse range of partners from across the energy transition value chain. Key stakeholders include:
- Financial partners
- Terminal operators
- Academic and policy institutions
- Industrial corporates committed to decarbonization
- Green fuel producers and alternative fuel off-takers such as Ports of Sines, Rotterdam, and Duisburg.
Some notable companies involved are CIP, ING, Cargill, Norwegian Cruise Line, Hyperion, KBR, Siemens, and Horisont Energi.
MOL's Role in Decarbonizing Maritime Transport
As the shipping logistics partner, MOL will facilitate the transportation of green fuels and CO2, promoting the use of zero-emission ships to help decarbonize the maritime transport sector. Through collaboration with other stakeholders, MOL will also provide strategic insights into the logistical and operational requirements necessary for handling green fuels.
Madoqua's Commitment to Green Hydrogen Projects
Madoqua is currently spearheading large-scale green hydrogen projects in Portugal, aimed at producing green ammonia and e-methanol. Additionally, they are developing the Madoqua Green Fuels Terminal in the port of Sines, which will store, handle, and bunker alternative fuels, utilizing renewable energy for electrification and ensuring open access.
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