MSC Mediterranean Shipping Company (MSC) has announced that it signed a five-year impact partnership agreement with The Global Centre for Maritime Decarbonisation (GCMD) to help accelerate decarbonisation efforts in the maritime industry.
As the world's largest shipping line, MSC has 730 vessels and the industry's largest new building order book of energy-efficient container ships.
MSC noted that it has been working on energy efficiency for many years and has been an early adopter of responsibly-sourced blended biofuels as a transitional fuel.
MSC has also advocated for the availability of a supply of a range of alternative fuels and has set a clear goal to achieve net decarbonisation by 2050.
"Decarbonising shipping is the biggest challenge facing the maritime sector and one which can only be achieved by step changes in commitment, concrete action and investment by shipping companies, their customers, ports, energy suppliers and public sector actors," the ocean carrier said.
It noted that by joining forces with GCMD, MSC is strengthening its commitment towards a collaborative approach to decarbonisation.
As an Impact Partner, MSC added that will provide a cash contribution towards GCMD's pooled resources for pilots and trials.
MSC will also make in-kind contributions through its participation in projects, including access to vessels, operational equipment, and other assets, as well as vessel operating data and evaluation reports so their learnings can help inform GCMD's future trials.
"We are committed to helping to tackle climate change, and in GCMD, we believe we have found an excellent partner to help drive the green transition in our sector. We look forward to exchanging ideas, information and access to our substantial expertise and assets to help accelerate progress towards the net zero future we all aspire to," said Bud Darr, executive vice president of Maritime Policy & Government Affairs MSC Group.
On welcoming MSC as GCMD's Impact Partner, Professor Lynn Loo, CEO of the Global Centre for Maritime Decarbonisation, said despite current economic uncertainties, decarbonising shipping will need liners — who are closest to customers willing to pay a green premium — to make hard commitments for the industry to progress towards IMO's 2030 and 2050 goals.
"With MSC coming on board as our newest Impact Partner, GCMD is
now in a stronger position to drive decarbonisation solutions across the industry," Loo added.
The GCMD was set up on August 1, 2021, as a non-profit organisation with strategic partners including the Maritime and Port Authority of Singapore (MPA), BHP, BW Group, Eastern Pacific Shipping, Foundation Det Norske Veritas, Ocean Network Express, Sembcorp Marine, bp and Hapag Lloyd.
GCMD — based in Singapore — aims to help the industry eliminate GHG emissions by shaping standards for future fuels, financing first-of-a-kind projects, and piloting low-carbon solutions in an end-to-end manner under real-world operations conditions.
Meanwhile, MSC — which is among the world's largest shipping lines — has a fleet of 730 vessels and is present in 155 countries through 675 offices. MSC calls at 520 ports on 260+ trade routes, carrying some 23 million TEU (twenty-foot equivalent units) annually.
MSC has earlier set out its decarbonisation goals, including carbon intensity (EEOI) reduction to 13.61 g/mt-nm by 2023 and further carbon intensity (EEOI) reduction of 70% by 2045 from 2008 baseline as well as first net zero carbon emissions capable ship in service by 2030.
It also targets net decarbonisation in 2050.
