Asia/Pacific News
MOL Partners with Shell on Book-and-Claim Shipping Initiative
Conceptual Diagram of MOL-Shell Book and Claim Model. Image Credit: MOL
Japan’s shipping firm Mitsui O.S.K. Lines (MOL) has teamed up with energy firm Shell to pilot a book and claim system aimed at cutting shipping emissions.
Under the initiative, Shell Trading Rotterdam B.V supplied a marine biofuel to a vessel not operated by MOL, replacing VLSFO, MOL said in a statement on its website on Thursday.
While the vessel operator kept the emissions savings linked to its own operations, it gave up the portion tied to cargo owners.
Shell then recorded these emissions savings in a registry run by 123Carbon and transferred them to MOL.
MOL converted the savings into Environmental Attribute Certificates (EACs), which it can offer to customers through its low-carbon shipping programme.
The model allows companies to claim emissions reductions even if the low-carbon marine fuel is used on a different ship, helping expand access to greener transport options.
Both companies said the trial shows how collaboration can support wider adoption of low-carbon fuels across the shipping sector.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 765.50 | 30.00 | 1576.50 | 94.00 |
| Rotterdam | 695.50 | 24.50 | 1323.50 | 46.50 |
| Houston | 814.00 | 85.00 | 1264.50 | 40.00 |
| Fujairah | 754.00 | 25.50 | 1597.00 | 87.50 |
| APAC Average | 1041.00 | 22.00 | 2007.00 | 50.00 |
| Global 20 Ports Average | 893.50 | 25.50 | 1622.50 | 47.50 |
| Global 4 Ports Average | 757.00 | 29.00 | 1440.50 | 43.50 |
| Global Average Bunker Price | 995.50 | 21.50 | 1728.50 | 29.00 |
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