Recently, China COSCO Shipping Group Company Limited (COSCO Shipping) signed a Memorandum of Understanding (MOU) with Fortescue Ltd, a leading global green technology, energy and metals company, in Shanghai.
Fortescue's Chief Executive Officer for Metals, Mr Dino, and COSCO Shipping's Deputy General Manager, Mr Lin Ji, attended the signing ceremony, witnessing a new milestone for the two companies to further deepen and expand their co-operation on top of the already well-established co-operation between Australia and China in bulk cargo transport.
According to the introduction, the two parties will rely on their respective technical and resource advantages to jointly build a green fuel supply chain, promote changes in the energy structure of the shipping industry, join hands to promote the green development of the shipping industry, and contribute to the construction of a green, low-carbon and sustainable global shipping ecosystem.
According to the MOU, COSCO Shipping and Fordyce River will co-operate to develop technologies to reduce emissions and establish a green fuel supply chain, including exploring the construction and deployment of COSCO Shipping freighters or jointly owned freighters fuelled by green ammonia for the transport of iron ore and other minerals to reduce the carbon emissions of the China-Australia Iron Ore Green Shipping Corridor.
Fords River said the shipping industry plays a vital role in global international trade. The partnership marks another important step in decarbonising the shipping industry and establishing a green fuel supply chain, paving the way for collaboration on a variety of decarbonisation solutions that are integral to achieving the ambitious goal of net-zero emissions,’ COSCO Shipping said.
COSCO Shipping said that green and low carbon has become a new trend in driving sustainable development in shipping. COSCO Shipping is committed to making green and low-carbon one of its two development tracks, increasing cooperation with global partners, and working together to build an industry development ecosystem that is digitally intelligent, green, open, shared and safe.
COSCO Shipping further stressed that green development is the base colour of high-quality development. In the future, the company will continue to accelerate the green and low-carbon transformation and development of the global supply chain, further take green ships, green shipping and green ports as a link, build a new energy industry chain for ships, provide green shipping solutions, and actively promote the green, low-carbon and sustainable development of the shipping industry in its entire life cycle.
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