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In a ‘milestone’ move which it says will include ‘the production, transportation, refuelling, and certification of green methanol for ships’, COSCO Shipping has signed a Memorandum of Cooperation on ‘the construction of a green methanol industrial chain’ with China’s State Power Investment Corporation (SPIC), Shanghai International Port Group (SIPG), and China Certification & Inspection Group (CCIC).

In a statement sent to Bunkerspot today (21 September), COSCO Shipping said: ‘This milestone signifies the start of the actual construction phase for this comprehensive industrial chain cooperation project, which encompasses the production, transportation, refuelling, and certification of green methanol for ships. It represents a significant step towards the application of new energy and the green transformation of the shipping industry.’

COSCO SHIPPING has recently placed an order for 12 methanol dual-fuel container ships, each with a capacity of 24,000 TEU. Meanwhile, the overall global order book for methanol-powered ships has exceeded 200.

The shipping company added: ‘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. Moreover, it serves as a significant initiative to develop green and low-carbon industries and drive the transformation and advancement of the industry towards high-quality development.’

COSCO Shipping said that the companies also plan to use the construction of this green methanol industry chain as ‘a starting point to prospectively explore and apply other green fuels for shipping’.

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