COSCO SHIPPING signs Memorandum of Cooperation on the Construction of a Green Methanol Industrial Chain
The adoption of green methanol fuel is a crucial step for the shipping industry to achieve environmental sustainability. COSCO SHIPPING has recently placed an order for 12 methanol dual-fuel container ships, each with a capacity of 24,000 TEU, making them the largest in the world. The global order for methanol-powered ships has exceeded 200. 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.
Based on the Memorandum of Cooperation, all parties involved are committed to fulfilling their social responsibilities by promoting “dual carbon” targets and adhering to the principle of complementary advantages and win-win cooperation.
The goal is to leverage their leading advantages in their respective industries to ensure the successful development of all key aspects of the green methanol industrial chain, and establish a green methanol industrial chain that meets both domestic and foreign green certification standards. This industrial chain should operate steadily, smoothly, and have sustainable development capabilities. Additionally, the parties aim to drive the implementation of the first batch of green methanol production projects in China.
Furthermore, they 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, with an aim to deepen their cooperative relations, expand the scope of cooperation, and establish a model of green industry collaboration.
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China COSCO SHIPPING Corporation Limited (hereinafter referred to as COSCO SHIPPING Group or the Group) is an SOE headquartered in Shanghai. It is the merged entity of China Ocean Shipping (Group) Company (COSCO) and China Shipping (Group) Company (China Shipping).
As of Dec 31, 2022, the total fleet of COSCO SHIPPING comprises of 1394 vessels with a capacity of 113.82 million DWT, ranking No.1 in the world. Its container fleet capacity is 3.02 million TEU, ranking the third in the world. Its dry bulk fleet (437 vessels / 45.14 million DWT), tanker fleet (228 vessels / 29.18 million DWT) and general and specialized cargo fleet (175 vessels / 5.78 million DWT) are all topping the world’s list.
Thanks to its complete global service network, COSCO SHIPPING has become a top international brand. The upstream- and downstream links along the industry chain, such as shipping, terminals, logistics, shipping finance, ship repair and shipbuilding, have formed a sound industrial structure. The Corporation has invested in 56 terminals, including 49 container terminals, all over the world. The annual throughput of its container terminals amounts to 131.79 million TEU, taking the first place worldwide; the global sales volume of its bunker fuel exceeds 28.30 million tons, which is the largest in the world; and the container leasing business scale reaches 3.91 million TEU, the third largest in the world. Its offshore engineering manufacturing competence and vessel agency business are also leading in the world.
To serve the global trade and operate a global network, COSCO SHIPPING has been focusing on the establishment of a “3+4” industrial ecosystem, with shipping, ports and logistics as its foundation and core industries, and with shipping finance, equipment manufacturing, value-added service and digital innovation as the enabling and value-added industries. Based on that, it further aims to build a world-class integrated logistics service and supply chain service ecosystem.
https://en.coscoshipping.com/
About COSCO SHIPPING (Europe) GmbH
COSCO SHIPPING (Europe) GmbH is the regional management company of the China COSCO SHIPPING Corporation in the European Region. The predecessor of this company, formerly known as ‚COSCO Europe GmbH‘, was the representative office of COSCO in Hamburg and registered and founded on February 15th, 1989, by the original COSCO Group in Hamburg, Germany. It was the first regional management company set up overseas by the COSCO Group.
The company’s business administration extends from Europe to North Africa, the Mediterranean and the region along the Black Sea, covering 64 countries in total. The scope of business comprises container transportation, break bulk cargo transportation, logistics services, terminal operations, ship technical services and ship fuel supply, etc. The company’s headquarters installed the Administrative & Personnel Department, the Strategic Development Department, the Supply Chain Development Department, the Department of Financial Management, the European Audit Division and the Break Bulk Transport Department, 6 departments all together. The company has 15 daughter companies in 12 countries, of which some are wholly owned and some are joint-venture companies. They are located in China, Germany, the United Kingdom, the Netherlands, Belgium, Finland, France, Italy, Turkey, Romania, Greece and Egypt.
www.coscoshipping.eu
COSCO SHIPPING Lines (Germany) GmbH
Am Sandtorkai 60
20457 Hamburg
Telefon: +49 (40) 36092-0
http://coscoshipping.de
Head of PR & Communications Europe
E-Mail: christian.klaus@coscoshipping.de
