Professor Lynn Loo, CEO of the Global Centre for Maritime Decarbonisation (left) and Toshiaki Tanaka, Representative Director, Executive VP, MOL (right). Credit: MOL.

The Global Centre for Maritime Decarbonisation (GCMD) and Mitsui OSK Lines (MOL) have signed a five-year Impact Partnership agreement.

Through the partnership, MOL aims to utilise its efficiency expertise, which includes access to vessels’ operating data and evaluation reports, so that internal know-how can be shared publicly and used for future trials.

Non-profit organisation GCMD was founded in 2021 to help the maritime sector to reach or surpass the International Maritime Organisation’s (IMO) decarbonisation targets for 2030 and 2050.

GCMD CEO Lynn Loo emphasised the importance of bringing MOL on board.

Loo said: “We are proud to have MOL, one of the leading shipowners in Japan, come onboard as an Impact Partner.

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“We are excited to tap on MOL’s track record in developing technical energy efficiency measures to broaden our perspective as we scope an initiative to help increase industry adoption of measures that can increase the fuel efficiency of ships.”

MOL will join GCMD founding partners BHP, BW, DNV Foundation, Eastern Pacific Shipping, Ocean Network Express, and Sembcorp Marine.

MOL’s executive VP Toshiaki Tanaka emphasised the global importance of the new partnership.

Tanaka said: “We are very pleased to be a partner of one of the most important global coalitions. We will make our biggest effort to contribute and accelerate progress towards the net zero future in the maritime industry, together with GCMD and all its partners.”

According to the United Nations Conference on Trade and Development (UNCTAD) the way forward for decarbonising the maritime industry is to galvanise collaborative innovation.

The Maersk Mc-Kinney Center for Zero Carbon Shipping have pushed for further collaboration within the sector as they stated: the world’s 100,000 commercial vessels consume around 300 million tons of fuel every year making shipping accountable for around 3% of global carbon emissions.

And general-secretary of the Zero Emissions Ship Technology Association (ZESTAs) Madadh MacLaine recently told Ship Technology the recent IMO agreement are “small miracles” that should be celebrated.