On September 20, China COSCO SHIPPING Corporation Limited (COSCO Shipping), State Power Investment Corporation Limited (SPIC), Shanghai International Port Group (SIPG), and China Certification & Inspection Group (CCIC) jointly signed the “Memorandum of Cooperation on the Construction of a Green Methanol Industrial Chain” online.
Memorandum milestone
This milestone signifies the start of the actual construction phase for this comprehensive industrial chain cooperation project, which encompasses the production, transportation, refueling, and certification of green methanol for ships.
The adoption of green methanol fuel is a crucial step for the shipping industry to achieve environmental sustainability. COSCO SHIPPING has recently placed an order for 12 methanol dual-fuel container ships, each with a capacity of 24,000 TEU, making them the largest in the world.
Methanol-Powered Ships
The global order for methanol-powered ships has exceeded 200. Establishing a green methanol industrial chain is not only necessary for shipping companies to align with the new trend of green, low-carbon, and intelligent shipping, but also to offer customers sustainable and eco-friendly global supply chain logistics services.
Dual Carbon
Based on the Memorandum of Cooperation, all parties involved are committed to fulfilling their social responsibilities by promoting “dual carbon” targets and adhering to the principle of complementary advantages and win-win cooperation.
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.
Additionally, the parties aim to drive the implementation of the first batch of green methanol production projects in China.
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Source: Cosco Shipping
