On 15 November, COSCO SHIPPING, CP Group, and Freepoint Commodities signed a memorandum of understanding (MoU) to proceed with green methanol production.
This partnership aims to leverage each party’s strengths, enhance collaboration, and establish a robust alliance. The signing of this agreement marks a significant milestone in their strategic cooperation, laying the foundation for progress in the development and adoption of green marine fuels.
As part of the MoU, the three parties have committed to strengthening their joint efforts in maritime green energy. By utilizing Southeast Asia’s rich biomass resources and deploying state-of-the-art technologies, they plan to build a green methanol production facility that meets stringent European Union standards. This initiative is set to accelerate COSCO SHIPPING’s transition to renewable energy while fostering advancements in the global energy mix.
