MOL, DP World explore decarbonisation business opportunities

MOL, DP World explore decarbonisation business opportunities

Mitsui O.S.K. Lines, Ltd. (MOL) and DP World have signed a Memorandum of Understanding (MoU) to investigate prospects to improve vehicle logistics capabilities at Jebel Ali Port and decrease carbon emissions in port and marine applications in the UAE and beyond.

A signing ceremony took place in Al Majilis conference room – Jafza 15 on the same day as COP28 between Ajay Singh, MOL Group Managing Executive Officer in charge of the group’s operations in the Indian subcontinent and Middle East, and Abdulla bin Damithan, CEO DP World GCC.

The firms will perform feasibility studies for economic potential linked to stocking, upgrading, and strategically dispersing fully completed automobiles through Jebel Ali Port as part of this agreement.

MOL noted that the new collaboration’s decarbonisation component will focus on increasing the regional market for clean fuels for marine and port-based applications, as well as other related decarbonisation business sectors.

READ: MOL, Shell partner to develop decarbonisation in maritime industry

Abdullah bin Damithan, CEO and Managing Director, DP World GCC, said: “DP World and MOL have a shared vision for sustainability and excellence in global maritime logistics and we look forward to strengthening our partnership through this MoU.

“With this agreement, we will combine our expertise to explore ways of enhancing the automotive supply chain and supporting decarbonisation efforts for the sector in the UAE and the wider Middle East.”

READ: MOL orders new service operating vessel

Ajay Singh, Responsible for South Asia and the Middle East at MOL, stated: “MOL is honoured to strengthen our relationship with DP World. MOL is already a major operator at Jebel Ali, and the new initiative aims at investing in facilities to further widen the scope of our operation there.

“It will contribute to the development of our auto logistics business in the Indian Ocean region, within which Jebel Ali is a highly efficient and modern gateway.

“The maritime decarbonisation project fits in well with our environmental roadmap, and through it we aim to transition several hundreds of vessels calling in the region to clean fuels in coming years, and to grow clean marine fuel supply chains in the GCC and beyond.”

This month, MOL and Bapco Energies B.S.C. (Bapco Energies) announced the signing of a MoU for development of cross border carbon dioxide (CO2) transport and sequestration.

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