COSCO SHIPPING Corporation Limited, State Power Investment Corporation Limited (SPIC), Shanghai International Port Group (SIPG), and China Certification & Inspection Group (CCIC) have inked an Memorandum of Cooperation (MoC) to build a green methanol industrial chain online.
This agreement signals the start of the actual construction phase for this massive industrial chain collaboration project, which comprises the production, transportation, refuelling, and certification of green methanol for ships.
The agreement is part of an initiative to build green and low-carbon sectors, as well as to push transformation and advancement towards high-quality growth in the maritime industry.
According to the MoC, the parties involved are committed to meeting their social duties by advancing dual carbon aims and adhering to the complementing benefits and win-win cooperation concept.
The goal is to leverage their leading advantages in their respective industries to ensure the successful development of all key aspects of the green methanol industrial chain, and establish a green methanol industrial chain that meets both domestic and foreign green certification standards.