Mitsui O.S.K. Lines (MOL) has signed a memorandum of understanding (MoU) with Madoqua and other global leaders to develop a green shipping corridor connecting Portugal to Northern Europe.
Madoqua, a renewable energy developer, will coordinate the project, which aims to establish a shipping route utilizing low-emission shipping solutions and transporting low-carbon fuels. This initiative involves global industry leaders from Europe, Asia, and North America, and includes various sectors of the energy transition, such as green fuel producers, terminal operators, and policy institutions.
MOL will serve as the Shipping Logistics Partner, focusing on enabling the transportation of green fuels and CO2, as well as promoting the use of zero-emission ships to decarbonize the maritime transport sector.
The company will also provide strategic insights into the logistical and operational needs of green fuels, helping shape the future of green corridors.
In the past few years, green corridors have been growing in popularity as the industry strives to reduce its emissions. According to the “Annual Progress Report on Green Shipping Corridors 2024,” there is a major growth in the number of initiatives, increasing by 40% in 2023 to a total of 62 initiatives globally.
