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.
READ: COSCO SHIPPING introduces 700 TEU electric containership
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.
In October last year, COSCO SHIPPING placed an order for 12 methanol dual-fuel container ships, each with a capacity of 24,000 TEU.
More recently, COSCO SHIPPING introduced a new door-to-door service that includes inland transport services in mainland China and Greece.
