- Marubeni and SINOPEC FUEL OIL have formalized a strategic partnership to expand cooperation in both conventional and alternative marine fuels.
- The agreement builds on a decade-long collaboration and aims to develop a new fuel supply chain, including biofuel, LNG, and methanol.
- Marubeni currently holds a leading share in supplying marine fuel to Japanese shipowners in China.
- The partnership supports the maritime industry’s shift toward decarbonization and aligns with IMO’s 2050 net-zero emissions target.
Marubeni Corporation has entered into a strategic partnership with SINOPEC FUEL OIL SALES CO., LTD., a subsidiary of China’s largest state-owned energy and chemical enterprise, to strengthen its presence in the marine fuel sector. This collaboration marks a significant step in expanding Marubeni’s capabilities in marine energy supply and infrastructure, particularly in Asia’s growing maritime market, as announced by Marubeni.
Expanding Marine Fuel Partnership to Support Industry Decarbonization
As the maritime sector navigates a period of major transformation driven by global decarbonization efforts and stricter environmental regulations, the need for alternative marine fuels is rapidly increasing. The International Maritime Organization’s target of achieving net-zero greenhouse gas emissions by around 2050 has further accelerated the shift toward cleaner energy sources, including biofuels, LNG, and methanol.
Against this backdrop, Marubeni Corporation and SINOPEC FUEL OIL SALES CO., LTD. are strengthening their long-standing collaboration through a new strategic agreement. Having worked together in the marine fuel business since 2010 and formalized their cooperation with a memorandum of understanding in 2019, the two companies have developed a strong presence in the Chinese market. Marubeni has served as the exclusive distributor of SINOPEC FUEL OIL’s marine fuels for Japanese shipowners at key Chinese ports, helping the company achieve a leading market share in this segment.
Marubeni intends to use this agreement to further secure fuel sources and ensure stable, efficient supply services tailored to evolving customer needs. Through these initiatives, the company remains committed to supporting the sustainable advancement of the maritime industry and contributing to global decarbonization goals.
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Source: Marubeni
