Japanese shipping company Kawasaki Kisen Kaisha (K Line) has signed a memorandum of understanding (MoU) with Indian steel producer JSW Steel for establishing the working committee for collaborative research on decarbonisation.
The companies agreed to share research and ideas on their respective knowledge about new marine technologies, alternative fuels and other fields potentially growing in the near future with the ultimate goal to achieve net-zero greenhouse gas (GHG) emissions in marine transportation by 2050.
K Line and its affiliated company K Line (India) Shipping (KISP) have been engaging in seaborne transportation of raw materials for JSW Steel since 2006 and 2014, respectively.
According to the company, the transport volume is currently reaching about 10 million tons per year by Supramax up to Capesize bulkers, performing both coastal and international trades.
Marine transportation business by large vessels is defined as one of the priorities in K Line’s medium-term management plan from May this year.
“We will continuously strive to enhance our corporate value by contributing to the sustainable development of the society and global environment through active collaborations on decarbonisation through the development of partnership with customers”, the company said.
To remind, KISP recently entered into multiple consecutive voyage contracts (CVCs) with JSW Steel for Capesized tonnage and Supramaz-sized tonnage.
In the meantime, K Line is focusing on achieving net-zero GHG emissions by 2050, a new goal set in November last year in its partially revised K Line Environmental Vision 2050.
With this in mind, at the beginning of this year, the company revealed plans to have zero-emission vessels by 2030.
As specific measures, K Line decided to build eight new LNG-fueled car carriers in addition to the one that had already joined the company’s fleet, and order one LNG-fueled Capesize bulk carrier and one LPG-fueled LPG carrier.
Source: World Maritime News
