MOL, Sinopec and Marubeni Sign MoU to Establish Long-Term Marine Biodiesel Fuel Supply System
Japanese shipping major Mitsui O.S.K. Lines (MOL) has signed a Memorandum of Understanding (MoU) with Sinopec Zhejiang Zhoushan Petroleum and Marubeni Corporation to create a long-term and stable supply system for marine biodiesel fuel, strengthening decarbonisation efforts in the global shipping industry.
The agreement aims to establish a structured framework for the procurement and supply of biodiesel fuel, a key alternative to conventional heavy fuel oil, through collaboration between the three companies. The partnership is designed to ensure stable availability and infrastructure development to support growing demand for low-carbon marine fuels.
Under the MoU, MOL will work to expand the use of biodiesel fuel in China, while Sinopec Zhejiang Zhoushan Petroleum and Marubeni will develop critical infrastructure, including storage facilities, transportation networks, and supply ports, to secure consistent and reliable fuel distribution. The initiative positions China as a central hub in the marine biodiesel supply chain, given its role as a key supplier of biodiesel feedstocks.
MOL stated that, to proactively advance decarbonisation in the biodiesel fuel sector, where demand is expected to grow,the company will collaborate closely with Sinopec and Marubeni to establish a long-term framework for biodiesel fuel supply and procurement at an early stage. The move aligns with MOL’s broader strategy to accelerate clean fuel adoption and achieve net-zero greenhouse gas emissions by 2050.
The MoU marks a significant milestone in advancing sustainable shipping solutions, promoting the immediate adoption of biodiesel fuel as a low-carbon energy source, and contributing to the reduction of carbon emissions in marine transport. The partnership underscores growing industry momentum toward alternative marine fuels as shipping companies seek practical pathways to meet global climate targets and evolving environmental regulations.
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