Japan’s shipping major Mitsui O.S.K. Lines (MOL) and Pyxis Maritime, a maritime electrification technology start-up, have signed a Memorandum of Understanding (MoU) to collaborate on the development and marketing of the electric vessels (EVs).
The collaboration aims to accelerate the development and commercialization of electric vessels in Singapore and expand their introduction in Japan. The partnership is designed to contribute to the broader goal of achieving zero emissions in the maritime industry, as Mitsui claims.
MOL brings to the table its extensive maritime expertise, market networks, and deep industry knowledge, while Pyxis contributes its agility and rapid execution capabilities as a start-up.
The collaboration will focus on engaging industry stakeholders, sharing knowledge, and implementing strategic initiatives for decarbonisation.
The synergy is expected to drive the mass adoption of electric vessels, aligning with MOL’s “BLUE ACTION 2035” management plan. MOL is the first Japanese ocean shipping company to set a target of achieving net-zero greenhouse gas (GHG) emissions by 2050.
Nobuo Shiotsu, senior managing executive officer of MOL, said: “I am pleased to conclude the MOU with Pyxis, which is committed to the introduction and expansion of EV vessels in Singapore. We believe this memorandum will be an important step for both companies to make a significant change in the shipping industry. Promoting the introduction of EV vessels to solve environmental issues will be one way. We believe cooperation with partners who has same ambition and trustworthy is essential to achieve that.”
Tommy Phun, Pyxis founder, pointed out: “We are honored to partner with MOL, a global leader in the shipping industry. With the sustainability movement disrupting maritime businesses, efforts to decarbonize have become necessary to stay competitive. Our mission is to ease and boost mass adoption of EVs in the region. Together with MOL, we are confident in expanding our outreach into Japan which is one of our key markets.”
