MOL, Sinopec and Marubeni teams up to boost marine biodiesel sales

In China, Mitsui O.S.K. Lines, Ltd. China’s largest fuel supplier SINOPEC Zhejiang Zhoushan Petroleum Co., Ltd., and Marubeni Corporation, which holds the top share in the marine fuel sales market for Japanese shipowners in China, have signed a Memorandum of Understanding (MOU) for the establishment of a long-term supply system for marine biodiesel fuel.

This memorandum aims to establish a long-term and stable supply system for biodiesel fuel-a key alternative to heavy oil-through collaboration with SINOPEC and Marubeni in support of decarbonization efforts. MOL will work to expand the use of biodiesel fuel in China, while SINOPEC and Marubeni will develop infrastructure such as storage and transportation facilities and supply ports., and ensure the stable availability of biodiesel fuel.