Pacific Basin, a dry bulk shipping company, signed a memorandum of understanding with Nihon Shipyard and Mitsui, to cooperate in the development of zero-emission vessels and investment in related bunkering infrastructure.
head of IMO’s targets to reduce the carbon intensity of global shipping by 40% by 2030, companies operating in the maritime industry will be required to replace traditional fuels currently used with substitutes such as ammonia and methanol, requiring the development of associated new engine designs, vessel designs and global bunkering infrastructure.
Nihon Shipyard Co., Ltd is a partnership between Japan’s two largest shipbuilders Imabari Shipbuilding Co., Ltd. and Japan Marine United Corporation. Nihon Shipyard focuses on the design, construction and promotion of eco-friendly ships for a zero-emission future.
As informed, utilising Mitsui’s experience and scale, the collaboration will investigate alternative fuel bunkering options and associated infrastructure, while seeking mutual benefits in the ordering of zero-emission vessels.
We are excited to be partnering with these two leading companies on this initiative, who we feel offer complementary expertise and size, as we continue along our decarbonisation journey.
…Mr. Martin Fruergaard, CEO of Pacific Basin, said.
Through this agreement, Pacific Basin will continue to be at the forefront of development within the industry, as we accelerate the transition and make zero-emission-ready vessels the default choice by 2030, and enable us to meet our target of zero emissions by 2050
It is a great pleasure and honour to be working with leading companies in our industry to develop zero-emission vessels in anticipation of the maritime industries environment response to regulations to reduce GHG emissions by 2030 and 2050
…Mr. Hirose, Director, Chief of Sales and Marketing Division, Nihon Shipyard Co., Ltd, commented.
From his side, Mr. Okamoto, COO of Mobility Business Unit II, Mitsui & Co., Ltd, commented that “We are very pleased to take part in the maritime industry’s green transition through entering this MoU with two of the leading companies in the industry. Energy solutions is a strategic focus area, and has been identified as a new growth opportunity that will contribute to decarbonisation through the reduction of energy consumption and GHG emissions.”
Through this collaboration Mitsui will contribute to the enhancement of people’s lives and the creation of a sustainable society by developing essential social infrastructure to support sustainable growth and development