Japanese shipping giant Nippon Yusen Kaisha (NYK) has joined forces with London-based supermajor BP to collaborate on future fuels and transportation solutions to help industrial sectors, including shipping, decarbonise.
For shipping, the companies will collaborate and identify opportunities to help transition from current marine fuels to alternatives such as LNG, biofuels, and methanol, and to develop future fuels such as ammonia and hydrogen.
William Lin, EVP regions, cities and solutions at BP, said: “BP and NYK Line have a combined experience of almost 250 years working in the shipping sector, strong existing relationships and a shared understanding of the need for the marine industry to decarbonise. By bringing together our technical expertise, understanding of the supply chain, and insights from our customers, I am confident that together we can do more to drive change at pace in hard-to-abate sectors”.
Akira Kono, senior managing executive officer-chief executive of energy division of NYK Line, added: “By combining bp’s technological expertise and worldwide network in integrated energy with NYK Line’s expertise and technology as one of the world’s largest shipping and logistics companies, we hope to become a leader in the decarbonisation of the shipping industry.”
NYK and BP said they will also consider potential marine transportation and other solutions for CO2, and explore participation in the supply chains for ammonia and hydrogen to be used in heavy industry and power generation, to help those sectors to decarbonise.