MSC Mediterranean Shipping Company (MSC) and Shell International Petroleum Company have signed a long-term memorandum of understanding (MoU) with the aim to promote the decarbonisation of the global shipping industry.

The partners will work together to develop several safe and sustainable technologies, which can cut down emissions from current assets.

The technical and commercial teams of both the companies will work in partnership to create and install net-zero solutions, focusing on contributing towards a zero-carbon flexi-fuel concept ship.

In addition, they will join forces on energy efficiency technologies such as digital services and platforms.

In a statement, MSC said: “The partners continue to envisage a range of fuel solutions on the route to a net-zero future and are also exploring options such as hydrogen-derived fuels and the use of methanol as a marine fuel.

“Both companies each have been exploring the significant potential benefits of progressing from fossil-based liquefied natural gas (LNG) to bio-LNG or synthetic variants. Together, the partners will explore opportunities for MSC to use LNG in its fleet, as the lowest emissions fuel widely available today.”

For minimising LNG’s emissions, the companies are also planning to work on future pathways such as methane-slip abatement technologies.

Under the partnership, Shell and MSC will interact with the industry and its stakeholders to discuss strategic policy issues.

The aim is to permit constructive dialogue in the sector by coming up with their dual perspectives.

Both companies have collaborated on several projects in the past decade, including bunkering biofuels and trialling very and ultra-low sulphur fuels.

Last week, Shell Tankers (Singapore) signed new charter agreements with Knutsen LNG, Pan Ocean and investors advised by JP Morgan Asset Management for an additional six liquefied natural gas vessels.

The move will expand Shell’s newbuild LNG carrier fleet to include a total of 24 vessels.