MOL, Pyxis collaborate to expand market of electric vessels

MOL, Pyxis collaborate to expand market of electric vessels

Mitsui O.S.K. Lines, Ltd. (MOL) and Pyxis Maritime Pte Ltd. (Pyxis) have signed a Memorandum of Understanding (MoU) to work together on the development and marketing of electric vessels (EVs) in Singapore and Japan.

Through this collaborative connection, the two firms intend to engage the industry and its respective stakeholders, share information, and conduct strategic decarbonisation projects while closely monitoring the implementation of environmental rules.

Nobuo Shiotsu, Senior Managing Executive Officer of MOL, said: “I am pleased to conclude the MoU with Pyxis, which is committed to the introduction and expansion of EV vessels in Singapore. We believe this memorandum will be an important step for both companies to make a significant change in the shipping industry.

“Promoting the introduction of EV vessels to solve environmental issues will be one way. We believe cooperation with partners who has same ambition and trustworthy is essential to achieve that.”

READ: MOL, MCSI introduce new LNG carrier company

Tommy Phun, Pyxis Founder, stated: “We are honored to partner with MOL, a global leader in the shipping industry. With the sustainability movement disrupting maritime businesses, efforts to decarbonise have become necessary to stay competitive.

“Our mission is to ease and boost mass adoption of EVs in the region. Together with MOL, we are confident in expanding our outreach into Japan which is one of our key markets.”

In June, MOL and Chevron Singapore PTE. LTD. signed a MoU to reduce the carbon intensity of their maritime energy industries.

Four months later, MOL announced the signing of a long-term charter contract with a vessel operation management firm funded by JERA Co., Inc. (JERA) for a newbuilding liquefied natural gas (LNG) carrier.

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