Asia/Pacific News
Be Forward Signs Deal with MOL for LNG-Fuelled Shipments
Japanese used car exporter Be Forward has partnered with Mitsui OSK Lines (MOL) to offset emissions from its shipments by leveraging the shipping firm's LNG-powered fleet.
Under the agreement, MOL will allocate emission savings from its LNG-powered vessels to Be Forward's used car shipments to Africa through the book and claim service, MOL said in a statement on its website on Wednesday.
Book and claim allow companies to offset their emissions by purchasing carbon credits.
For example, when MOL runs LNG-powered car carriers, the GHG emission reductions are calculated in comparison to using fuel oil. Customers using the book and claim service can then claim these reductions as part of their carbon offset efforts.
"This method enables customers to register (Book) the GHG reduction from low-carbon ship transport services and then claim (Claim) the reduction value allocated to them," MOL explained.
The contract will be valid for five years, starting from April 2025.
In December 2024, MOL obtained third-party certification for its book and claim service for pure car carriers following an audit by ClassNK.
