China: COSCO Shipping and partners to advance green methanol bunker fuel production
- Published
by Admin
COSCO Shipping Group, Charoen Pokphand Group (China) (CP Group), and US-based Freepoint Commodities signed on Friday (15 November) a Memorandum of Understanding (MoU) to drive cooperation in green methanol production for shipping.
“The successful signing of this memorandum of cooperation is an important milestone in the strategic cooperation between the three parties and will open a new chapter in the production and application of green shipping fuels,” COSCO Shipping said in a statement.
According to the agreement, the three parties will build a green methanol production base in Southeast Asia by leveraging the region’s abundant biomass resources and adopt industry-leading technologies that meet EU standards.
The partnership will ensure a reliable and steady supply of renewable energy for COSCO Shipping’s fleet and support the company’s renewable energy transition.
The signing of this memorandum of cooperation is a vivid reflection of globalisation in the field of green and low-carbon development.
The companies will continue to deepen strategic cooperation, assist the low-carbon transformation of the global shipping industry, set a new benchmark for industry development and jointly promote green and low-carbon transformation and development.
Photo credit: Cosco Shipping
Published: 21 November, 2024
