CMES Chairman visited COSCO Shipping Bulk and mentioned methanol as the main ship fuel

On August 17, Xie Chunlin, Chairman of China Merchants Energy Shipping paid a call on Gu Jinsong, Chairman of COSCO Shipping Bulk. Ding Lei, Vice President of CMES, Chen Xinchuan, President of COSCO Shipping Bulk, and Chen Yan, Vice President of COSCO Shipping Bulk attended the meeting.
 
As one of the world's leading bulk shipowners, CMES and COSCO Shipping Bulk are the main shipping companies of China Merchants Group and COSCO Shipping respectively.

During the talks, the two sides reviewed the good cooperation and exchanged views on the green and low-carbon transformation of ships and proposed to make methanol as the main clean fuel in the future.
 
It is rare for Chinese shipping enterprises to elaborate on the route of decarbonization transformation and the choice of alternative fuel for shipping. To a large extent, it also represents the attitude of the two major central shipping enterprises in China.
 
On July 25, China Merchants Energy Shipping (CMES) released the first independent ESG report -- "Environment, Social and Corporate Governance Report 2021", and published the carbon emission reduction target for the first time, and set the carbon emission reduction strategic target at both international and domestic levels.

Among them, international emissions remain at similar levels to the target of the IMO greenhouse gas reduction preliminary strategy, compared with 2008, in carbon intensity achieve a 75% reduction, while domestic emissions remain in line with the domestic 3060 strategy to achieve carbon neutrality by 2060.
 
The target is slightly different from the stated goal of achieving carbon neutral by 2050 in the international shipping industry. However, its decarbonization path is still relatively vague. China Merchants Energy Shipping focused on the technological breakthrough of low-carbon power ships, the research, development and commercial application of low-carbon fuels (LNG, hydrogen, methanol, ammonia, etc.), and gradually promoted the all-round transformation of fleet energy, providing a strong guarantee for realizing the strategic goal of carbon emission reduction.
 
Similarly, COSCO Shipping Holding（601919.SH）, the core listed company of COSCO Shipping, also mentioned for the first time in the "2021 Sustainable Development Report" released on March 31 this year that "carbon neutrality will be achieved by 2060" in greenhouse gas emission reduction. And there is no preference for action on alternative fuel options.
 
On February 17, COSCO Shipping Energy Transportation of COSCO Shipping, jointly developed the green methanol fuel powered VLCC design scheme with CSSC's Dalian Shipbuilding Industry, and obtained the AIP certificate issued by DNV and CCS. For COSCO Shipping layout an important step in methanol fuel.

According to Xinde Marine News, a few days ago, COSCO Shipping Bulk held a work summary meeting in H1, especially mentioned that COSCO Shipping Bulk will "actively participate in the work of the green methanol supply guarantee working group, strengthen the study and evaluation of the development trend of marine new energy, and assist relevant departments in the special approval of methanol dual-fuel ship project."

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