MOL Fortifies Decarbonization Ties with Maritime and Port Authority of Singapore

Mitsui O.S.K. Lines (MOL) has signed a comprehensive memorandum of understanding (MoU) with the Maritime and Port Authority of Singapore (MPA) to deepen cooperation in the fields of decarbonization, digitalization, and human resources development.

MOL and MPA have been cooperating in various initiatives to decarbonize the maritime industry, the new agreement will further promote these initiatives in a wide range of fields.

Specifically, the scope of the MoU covers the collaboration in the field of decarbonization in the maritime industry in general. The partners will through mutual collaboration work to establish a supply system for next-generation fuel sources such as methanol, ammonia, and hydrogen.

The collaboration will also include study on the use of wind technology.

Also, the MoU extends to digitalization and maritime innovation, by improving voyage management and efficiency of transport operations through digitalization, including development of cybersecurity, collaboration on autonomous vessel trials, and nurturing marine innovation ecosystem that emphasizes collaboration with local startups.

Also, MOL and MPA committed to joint development of maritime human resources. They will work together to grow and enhance manpower capabilities, including grooming seafarers and shore-based workforce.

"As a maritime hub port, supported by our innovation and research ecosystem, MPA is working closely with industry and tripartite partners to support digitalization, cybersecurity, decarbonization and manpower capabilities.

“We look forward to MOL's expansion of activities, tapping on both our experience and expertise, to develop scalable solutions for the Singapore-Japan Green and Digital Shipping Corridor and the wider maritime community,” said Teo Eng Dih, MPA Chief Executive.

"We have been focusing on the fields of decarbonization, digitalization, and human resources development, which we have decided to deepen cooperation with MPA this time.

“The fields of bilateral cooperation are also a challenge for the maritime industry as a whole, and I hope we can increase the feasibility by working together as like-minded people. We are confident that the establishment of this comprehensive cooperative relationship will contribute to the maritime industry in general,” added Takeshi Hashimoto, MOL President and CEO.