MOL, SINOPEC and Marubeni sign MoU on marine biodiesel supply

Mitsui OSK Lines Ltd (MOL), China’s largest fuel supplier SINOPEC Zhejiang Zhoushan Petroleum and Japan’s Marubeni Corporation have signed a Memorandum of Understanding (MoU) to establish a long-term supply system for marine biodiesel fuel.
The agreement was announced in December and marks a collaborative step to support wider adoption of lower-carbon fuels in the maritime sector.
Under the terms of the MoU, MOL will promote the use of biodiesel fuel in marine transport, particularly in China, while SINOPEC and Marubeni will develop vital infrastructure.
This includes storage, transportation facilities and supply ports to ensure a stable and continuous supply of biodiesel fuel to shipowners and operators.
The shipping industry is under increasing pressure from regulators and customers alike to lower greenhouse gas emissions, and biodiesel is seen as one practical solution in the transition toward decarbonisation.
MOL sees China as a key source of biodiesel feedstocks and aims to establish an early framework for procurement and supply in partnership with SINOPEC and Marubeni.
The agreement supports MOL’s broader environmental strategy under its “BLUE ACTION 2035” management plan, which targets net-zero greenhouse gas emissions by 2050.
The MoU is described by MOL as an important milestone in expanding the use of low-carbon fuels and reducing carbon emissions across global marine transport.