Japanese shipping major Mitsui O.S.K. Lines (MOL) has joined forces with energy company Shell to pilot a book-and-claim framework designed to help reduce emissions across the shipping sector, according to a statement published by MOL on Thursday and reported by Ship & Bunker.
How the Pilot Works
Under the arrangement, Shell Trading Rotterdam B.V. supplied marine biofuel as a replacement for VLSFO on a vessel that is not part of MOL’s own fleet. The vessel’s operator retained the emissions savings associated with its own operations but transferred the cargo-owner portion of those savings to Shell, as Ship & Bunker reports.
Shell then logged those transferred savings through a registry operated by 123Carbon, before passing them on to MOL. MOL subsequently converted the savings into Environmental Attribute Certificates (EACs), which it intends to make available to clients via its low-carbon shipping programme.
Decoupling Fuel Use from Emissions Claims
The significance of the book-and-claim approach lies in its flexibility. As Ship & Bunker notes, the model enables companies to associate themselves with emissions reductions even when the lower-carbon fuel is physically consumed on a vessel they do not operate. This decoupling of fuel use from emissions attribution is seen as a way to widen industry participation in the shift toward greener marine fuels.
Both MOL and Shell stated that the trial demonstrates how cross-industry collaboration can accelerate the uptake of low-carbon fuels more broadly across the maritime sector.
Gulf Bunkering does not provide operational or security guidance. This article is for informational purposes only. Operators should consult flag state authorities, P&I clubs, and relevant advisories for decisions relating to transit planning.
Sources: Ship & Bunker
