Japanese shipping company Nippon Yusen Kaisha (NYK Line) has extended a cooperation deal with resources company in Australia BHP Group Ltd (BHP) to advance decarbonization and safety in the dry bulk industry.
The parties signed an agreement to renew a memorandum of understanding (MOU) initially concluded in June 2022.
The two sides initially teamed up in 2022 to study the next-generation of zero-GHG emission ships fuelled by green or blue ammonia.
At that time, the aim was to promote the use of GHG emission reduction measures such as energy-saving innovations and technologies, and alternative lower- and zero-GHG emission marine fuels.
The new deal was signed on November 25 and outlines continued joint research on technologies for ammonia dual-fuel vessels, expanded biofuel trials and other measures to advance low-carbon shipping, and enhanced safety operation through NYK Line’s vessel-tonnage supply for the maritime transport of a wide range of dry bulk cargoes.
NYK said the updated MOU is intended to strengthen their bilateral model of cooperation and build momentum in the dry bulk industry.
Hiroaki Nishiyama, managing executive officer, chief executive of dry bulk division at NYK Line, said: “We are delighted to strengthen our strategic partnership with BHP further and work together to promote decarbonization and enhance safe operations in the dry bulk industry.”
He noted: “Amid an uncertain outlook for environmental regulations, we will combine the strengths of both companies to accelerate the development of next-generation environmental technologies and steadily advance toward achieving our net-zero target by 2050.”
