Hong Kong-based Pacific Basin Shipping, one of the world’s leading dry bulk shipping companies, has signed a memorandum of understanding (MoU) with Nihon Shipyard and Mitsui & Co. to develop zero-emission vessels and associated bunkering infrastructure.
“Hong Kong-based dry bulk owner and operator Pacific Basin Shipping plans to cooperate with Nihon Shipyard and Mitsui & Co. to develop zero-emission vessels and associated bunkering infrastructure.” “/ / 
Source: Pacific Basin
Hong Kong-based dry bulk owner and operator Pacific Basin Shipping plans to cooperate with Nihon Shipyard and Mitsui & Co. to develop zero-emission vessels and associated bunkering infrastructure.
Nihon Shipyard is a partnership between Japan’s two largest shipbuilders Imabari Shipbuilding and Japan Marine United Corporation and focuses on the design, construction and promotion of eco-friendly ships.
Utilising Mitsui’s extensive experience and scale, the companies will investigate alternative fuel bunkering options and associated infrastructure, while seeking mutual benefits in the ordering of zero-emission vessels.
Martin Fruergaard, CEO of Pacific Basin, said: “We are excited to be partnering with these two leading companies on this initiative, who we feel offer complementary expertise and size, as we continue along our decarbonisation journey. Through this agreement, Pacific Basin will continue to be at the forefront of development within the industry, as we accelerate the transition and make zero-emission-ready vessels the default choice by 2030, and enable us to meet our target of zero emissions by 2050.’’
Pacific Basin Shipping operates around 250 dry bulk ships of which 120 are owned and the rest chartered. It aims to be net zero emissions by 2050. In a sustainability report released in March the company stated that it would not contract newbuildings until zero-emission-ready ships are available and commercially viable in its segments and the appropriate refuelling infrastructure is being built out globally.
The company announced the launch of its PB Carbon Neutral Voyage Programme in November 2021 so that customers could voluntarily offsetting voyage emissions. “At Pacific Basin, we take the firm view that carbon offsetting is no substitute for tangible efforts to reduce and eventually eliminate our actual emissions. We are pursuing a comprehensive programme of initiatives that continue to gradually reduce our owned fleet’s carbon intensity, but our Company and industry still have a long journey ahead to full decarbonisation which we target to achieve in our Pacific Basin fleet by 2050. Carbon offsetting is at least something we can do today.”
Pacific Basin Shipping has partnered with CLP Innovation Enterprises to supply its carbon emissions offset program with independently verified carbon credits derived from CLP’s wind and solar farms in Asia.
