Container liner giant China COSCO SHIPPING Corporation Limited (COSCO Shipping) has announced that it is participating in a Chinese project to develop a green methanol supply chain on 21 September.

The announcement follows the signature of a memorandum of cooperation between COSCO Shipping, Shanghai International Port Group (SIPG), State Power Investment Corporation Limited (SPIC) and China Certification & Inspection Group (CCIC) on 20 September relating to the construction of “a Green Methanol Industrial Chain”.

The agreement signifies the start of the actual construction phase for the comprehensive industrial chain cooperation project, which encompasses the production, transportation, refuelling, and certification of green methanol for ships. It represents a significant step towards the application of new energy and the green transformation of the shipping industry.

The Motorship notes that while the agreement’s most high-profile announcement is that it will see the parties support the the development of the first batch of green methanol production projects in China, the project is also important for the promoting the development of certification processes that may eventually permit China to export green methanol to customers outside the country.