On December 11, Mitsui O.S.K. Lines announced that it had signed a memorandum of understanding with Sinopec Zhejiang Zhoushan Petroleum (SINOPEC), China's largest state-owned fuel supplier, and Marubeni, which holds the top market share in the Chinese market for marine fuel sales to Japanese shipowners, regarding the establishment of a long-term supply system for marine biodiesel fuel.
<From left: Zhang Shu, Deputy Director of the Zhoushan Municipal Bureau of Commerce; Keiichi Tochimoto, General Manager of the LPG Trading Department at Marubeni Petroleum; Tomotaka Ota, General Manager of the GX Business Division at Mitsui O.S.K. Lines; Cheng Yasong, General Manager of SINOPEC Zhejiang Zhoushan Petroleum; Xu Tao, Deputy General Manager of SINOPEC Fuel Oil Sales>
In order to move towards decarbonization, SINOPEC and Marubeni will collaborate to establish a long-term and stable supply system for biodiesel fuel as an important alternative fuel to heavy oil.
Mitsui O.S.K. Lines will expand the use of biodiesel fuel in China. SINOPEC and Marubeni will develop infrastructure such as storage and transportation facilities and supply ports, and ensure a stable supply of biodiesel fuel.
Biodiesel fuel can be used in existing marine internal combustion engines without modification. Furthermore, it significantly reduces CO2 emissions throughout its entire lifecycle compared to heavy fuel oil, making it a promising alternative fuel.
