Splash247: MOL eyes expansion of biodiesel under new China partnership

Mitsui O.S.K. Lines (MOL), Sinopec, and Marubeni have signed a memorandum of understanding (MOU) for the establishment of a long-term supply system for marine biodiesel fuel.

This memorandum aims to establish a long-term and stable supply system for biodiesel fuel, an alternative to heavy oil made from recycled biomass.

MOL will work to expand the use of biodiesel fuel in China, while Sinopec and Marubeni will develop infrastructure such as storage and transportation facilities and supply ports, and ensure the stable availability of biodiesel fuel.

Amid strengthening global environmental regulations and the accelerating trend toward decarbonization, the international shipping industry is trying to reduce greenhouse gas (GHG) emissions.

Biodiesel fuel is an alternative that can be used without modifying existing marine internal combustion engines. According to MOL, it is gaining attention as an effective solution capable of significantly reducing CO2 emissions over its entire lifecycle compared to conventional marine fuels such as heavy oil.

To proactively advance decarbonisation efforts, MOL will collaborate with Sinopec and Marubeni in China, a key supplier of biodiesel fuel feedstocks, to establish a long-term framework for biodiesel fuel supply and procurement at an early stage.

MOL is advancing the adoption of clean fuels based on its Blue Action 2035 plan, aiming to achieve net-zero GHG emissions by 2050. The company will promote the use of biodiesel fuel, a low-carbon energy source that can be adopted immediately.