MOL, Sinopec and Marubeni sign MoU
Mitsui O.S.K. Lines (MOL) has announced a memorandum of understanding with Sinopec Zhejiang Zhoushan Petroleum and Marubeni Corporation to establish a long-term supply system for marine biodiesel fuel. This partnership aims to provide a stable supply of biodiesel, a critical alternative to heavy oil, in support of global decarbonisation efforts. MOL plans to expand biodiesel usage in China, while Sinopec and Marubeni will focus on developing necessary infrastructure, including storage, transportation facilities and supply ports.
As environmental regulations tighten and decarbonization accelerates, the shipping industry is increasingly adopting biodiesel, which can significantly reduce CO₂ emissions without requiring modifications to existing engines. This MoU aligns with MOL's Blue Action 2035 management plan to achieve net-zero GHG emissions by 2050, marking a vital step toward promoting low-carbon energy solutions in marine transport.