Green transformation demands in shipping make Pacific Basin partner up with Japanese industry groups on development of zero-emission dry bulk vessels.
Photo: Courtney /Ritzau Scanpix
Dry bulk operator Pacific Basin wants to develop a carbon-free and commercially sustainable ship in collaboration with Japanese companies Nihon Shipyard and Mitsui & Co., the carrier states in a press release.
The parties have signed a memorandum of understanding on development of a zero-emission vessel based on an expectation that the existing climate demands for shipping, decided by the UN’s International Maritime Organization (IMO), will be further tightened in the coming years.
”As a result, companies operating in the maritime industry will be required to replace traditional fuels currently used with substitutes such as ammonia and methanol, requiring the development of associated new engine designs, vessel designs and global bunkering infrastructure,” reads the announcement.
Nihon Shipyard is a partnership between Japan’s two largest shipyards, Imabari Shipbuilding Co. and Japan Marine United Corporation, while Mitsui & Co. has machinery and energy as its core business areas.
”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,” says Pacific Basin Chief Executive Martin Fruergaard in the statement.
Pacific Basin operates a fleet of 250 dry bulk ships, of which 120 are self-owned. The carrier is listed at the stock exchange in Hong Kong.
English edit: Kristoffer Grønbæk
