bp and NYK Line have signed an MOU to collaborate on future fuels and transportation solutions to help industrial sectors, including shipping, decarbonize.

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.

For other hard-to-abate industrial sectors, the two companies 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 decarbonize. 

Shipping is core to global trading activities. For the world to decarbonize, shipping must decarbonize and NYK Line is seeking to lead decarbonization efforts in the industry through collaboration with bp.