TOKYO-Mitsui O.S.K. Lines, Ltd. (MOL) and DP World (DPW) today announced the signing of a memorandum of understanding (MoU) to explore opportunities to enhance auto logistics capabilities at Jebel Ali Port and reduce carbon emissions in port and maritime applications in the UAE and beyond.
Mr. Ajay Singh, Managing Executive Officer of MOL and Mr. Abdulla bin Damithan, CEO DP World GCC
A signing ceremony took place at Al Majilis meeting room – Jafza 15 coinciding with COP 28 between MOL Group Managing Executive Officer in charge of the group's business in the Indian sub-continent and Middle East, Mr. Ajay Singh and Mr. Abdulla bin Damithan, CEO DP World GCC.
As part of this agreement, the companies will conduct feasibility studies for business opportunities related to stocking, enhancing, and strategically redistributing fully assembled cars through Jebel Ali Port. The decarbonization component of the new cooperation will center on developing the regional market for clean fuels for maritime and port-based applications, and other related decarbonization business areas.
Mr. Abdullah bin Damithan, DPW said: "DP World and MOL have a shared vision for sustainability and excellence in global maritime logistics and we look forward to strengthening our partnership through this MoU. With this agreement, we will combine our expertise to explore ways of enhancing the automotive supply chain and supporting decarbonization efforts for the sector in the UAE and the wider Middle East."
Mr. Ajay Singh, MOL said: "MOL is honored to strengthen our relationship with DPW. MOL is already a major operator at Jebel Ali, and the new initiative aims at investing in facilities to further widen the scope of our operation there. It will contribute to the development of our auto logistics business in the Indian Ocean region, within which Jebel Ali is a highly efficient and modern gateway. The maritime decarbonization project fits in well with our environmental roadmap, and through it we aim to transition several hundreds of vessels calling in the region to clean fuels in coming years, and to grow clean marine fuel supply chains in the GCC and beyond"
MOL has positioned its environmental strategy as one of the key strategies in its "BLUE ACTION 2035" management plan, and has set the goal of achieving net zero greenhouse gas (GHG) emissions by 2050 in the "MOL Group Environmental Vision 2.2." Through this alliance with DPW, it will pursue GHG reduction of the ports and vessels around UAE and GCC and contribute to the realization of a low-carbon and decarbonized society.