MSC Teams with GCMD to Accelerate Decarbonize Efforts

In mid-March, Mediterranean Shipping Co. (MSC) and the Singapore-based Global Centre for Maritime Decarbonisation (GCMD) announced the signing of a five-year partnership agreement under which the two parties are combining forces on decarbonization efforts.

The non-profit GCMD, which is among the world’s largest bunkering hubs and the second largest container port, aims to help the industry eliminate greenhouse gas 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.

Geneva, Switzerland-based MSC has 730 vessels and one of the maritime industry’s largest newbuilding orderbook of energy-efficient container ships. The family-owned business has been working on energy efficiency for many years and has been an early adopter of blended biofuels as a transitional fuel.

It has also advocated for the availability of supply of a range of alternative fuels and has set a goal to achieve net decarbonization by 2050.

MSC has said that by joining forces with GCMD, it’s strengthening its commitment to a collaborative approach to decarbonization. Under the agreement, MSC is providing cash toward GCMD’s pooled resources for pilots and trials.

MSC is to 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.

“Decarbonizing shipping is the biggest challenge facing the maritime sector and one which can only be achieved by commitment, concrete action and investment by shipping companies, their customers, ports, energy suppliers and public sector actors,” MSC said in a statement.

“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,” MSC Group Executive Vice President of Maritime Policy & Government Affairs Bud Darr said. “We look forward to exchanging ideas, information and access to our substantial expertise and assets, to help accelerate progress towards (a) net zero future.”