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.

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” online.

In a ‘milestone’ move which it says will include ‘the production, transportation, refuelling, and certification of green methanol for ships’, Cosco and its partners take this step as a green methanol industrial chain is necessary for shipping companies to align with the new trend of green, low-carbon, and intelligent shipping.

Cosco Shipping has recently placed an order for 12 methanol dual-fuel container ships, each with a capacity of 24,000 teu, making them the largest in the world.

Meanwhile, the overall global order for methanol-powered ships has exceeded 200.

The shipping company added: “Establishing a green methanol industrial chain is not only necessary for shipping companies to align with the new trend of green, low-carbon, and intelligent shipping, but also to offer customers sustainable and eco-friendly global supply chain logistics services. Moreover, it serves as a significant initiative to develop green and low-carbon industries and drive the transformation and advancement of the industry towards high-quality development.”

Shanghai-based Cosco Shipping, which is the merged entity of China Ocean Shipping (Group) Company (COSCO) and China Shipping (Group) Company (China Shipping), has a total fleet of 1,372 vessels with a capacity of 111 million dwt.

Its container fleet capacity is 3.04 million teu, ranking the third in the world. Its dry bulk fleet (426 vessels/44.54 million dwt), tanker fleet (225 vessels/26.95 million dwt), and general and specialized cargo fleet (178 vessels/5.98 million dwt), are all topping the world’s list.