COSCO signs Memorandum of Cooperation for green methanol industrial chain
The Memorandum of Cooperation on the Construction of a Green Methanol Industrial Chain" was signed online by China COSCO SHIPPING Corporation Limited (COSCO Shipping), State Power Investment Corporation Limited (SPIC), Shanghai International Port Group (SIPG), and China Certification & Inspection Group (CCIC).
This milestone marks the beginning of the real constructing phase for this extensive industrial chain collaboration project, which includes the manufacture, transportation, refuelling, and certification of green methanol for ships. It is an important step toward the use of new energy and the green transformation of the marine sector.
The adoption of green methanol fuel is a critical step toward environmental sustainability in the maritime sector. COSCO SHIPPING recently ordered 12 methanol dual-fuel container ships, each with a capacity of 24,000 TEU, making them the world's largest. The total number of orders for methanol-powered ships has surpassed 200.
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Creating a green methanol industrial chain is vital not only for shipping firms to conform with the emerging trend of green, low-carbon, and intelligent shipping, but also to provide clients with sustainable and eco-friendly worldwide supply chain logistics services.
Furthermore, it is a key push to create green and low-carbon industries, as well as to drive the industry's transformation and advancement toward high-quality development.
According to the Memorandum of Cooperation, all parties are committed to meeting their social duties by advancing "dual carbon" aims and adhering to the complementing benefits and win-win cooperation concept.
The aim is to use their respective industry leadership to enable the successful development of all essential components of the green methanol industrial chain, as well as to construct a green methanol industrial chain that fulfils both local and global green certification criteria.
This industrial chain should be stable, effortless, and capable of long-term development. Furthermore, the parties want to advance the implementation of China's first batch of green methanol manufacturing projects.
Source: Container News