Mitsui O.S.K. Lines (MOL) and Pyxis Maritime have signed a Memorandum of Understanding (MoU) to collaborate on joint development and marketing of the electric vessels (EV) business in Singapore, as well as marketing for the expansion of EV’s introduction in Japan in order to contribute achieving zero emission in the shipping industries.
MOL and Pyxis will harness MOL’s maritime expertise, market networks and industry knowledge as shipping company with Pyxis’s agility and fast execution as start-up company to drive the mass adoption and commercialization of EV’s to create a greener and sustainable future.
MOL Group has positioned its environmental strategy as one of the key strategies in its “BLUE ACTION 2035” management plan and is the first company in the Japanese ocean shipping industry to set the target of achieving net zero GHG emissions by 2050.
Through this cooperative relationship, the two companies plan to engage the industry and their respective stakeholders, interweave their knowledge, and implement strategic initiatives for decarbonization while closely monitoring the adoption of environmental regulations.
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, said: “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.”
Photo credit: iStock/ Bill Huang. Ships waiting in Singapore’s waters in East Coast.