Mitsui O.S.K. Lines, Ltd. (MOL) has signed a comprehensive memorandum of understanding (MoU) with the Maritime and Port Authority of Singapore (MPA) to deepen cooperation in decarbonization, digitalisation, and human resources development.
MOL and MPA have been cooperating in various initiatives to decarbonize the maritime industry, the new agreement will further promote these initiatives in a wide range of fields.
Teo Eng Dih, chief executive of the MPA, said the MoU reaffirms its long-standing collaboration with MOL.
"As a maritime hub port, supported by our innovation and research ecosystem, MPA is working closely with industry and tripartite partners to support digitalisation, cybersecurity, decarbonisation and manpower capabilities," he said.
"We look forward to MOL's expansion of activities, tapping on our experience and expertise to develop scalable solutions for the Singapore-Japan Green and Digital Shipping Corridor and the wider maritime community."
Takeshi Hashimoto, president and CEO of MOL, noted that the carrier has been focusing on decarbonization, digitalization, and human resource development, prompting it to deepen its cooperation with MPA.
"MPA is committed to working hard to create a sustainable maritime industry in Singapore, the hub of the maritime industry. We pay our respect to MPA for its enthusiasm and energy. The fields of bilateral cooperation are also a challenge for the maritime industry as a whole, and I hope we can increase the feasibility by working together as like-minded people," he said.
"We are confident that the establishment of this comprehensive cooperative relationship will contribute to the maritime industry in general," Hashimoto added.
Specifically, the scope of the MoU includes collaboration in the field of decarbonization in the maritime industry in general and mutual collaboration to establish a supply system for next-generation fuel sources such as methanol, ammonia, and hydrogen. The collaboration will also include a study on the use of wind technology.
The MoU would also look into digitalization and maritime innovation to improve voyage management and efficiency of transport operations through digitalization, including the development of cybersecurity, collaboration on autonomous vessel trials, and nurturing the marine innovation ecosystem.
The deal also includes joint development of maritime human resources to grow and enhance manpower capabilities, including grooming seafarers and shore-based workforce.
MOL noted that it also participated in the MPA-led Green & Digital Shipping Corridors.
MPA is building strong partnerships with national port stakeholders to accelerate decarbonization in the maritime industry. The goal is to promote the development and broad adoption of next-generation fuels and technologies.
