MOL and Shell Collaborate on New Initiative to Utilize Environmental Value of Low-Carbon Marine Fuels
Mitsui O.S.K. Lines (MOL) has partnered with Shell Trading Rotterdam B.V. to demonstrate a new "Book and Claim" scheme. This initiative allows MOL to provide customers with environmental attribute certificates, representing greenhouse gas (GHG) reduction effects achieved by third-party operated vessels using low-carbon fuels. This expands MOL's decarbonization solutions beyond its own fleet, promoting broader decarbonization across the maritime ecosystem.
📋 Article Processing Timeline
- 📰 Published: April 10, 2026 at 01:20
- 🔍 Collected: April 11, 2026 at 00:29 (23h 9m after Published)
- 🤖 AI Analyzed: April 20, 2026 at 00:46 (216h 17m after Collected)
Mitsui O.S.K. Lines (President: Jotaro Tamura, Head Office: Minato-ku, Tokyo, hereinafter "the Company") has collaborated with Shell Trading Rotterdam B.V. (hereinafter "Shell") to demonstrate a mechanism (indirect generation: Note 2) that allows the Company to provide its customers with certificates (environmental attribute certificates: Note 1) for greenhouse gas (GHG) reduction effects generated by the use of low-carbon fuels in vessels operated by third parties.
The background to the realization of this mechanism lies in internationally shared rules and the existence of a third-party management platform. Based on the international rules (Market Based Measures Accounting Framework, hereinafter "MBM Framework": Note 3) published by the international NPO Smart Freight Centre (hereinafter "SFC"), and by utilizing a third-party registry provided by 123Carbon B.V. (hereinafter "123Carbon"), a new Book and Claim (Note 4) scheme has been realized. This scheme allows for the management and provision of environmental value derived from low-carbon fuels to customers in a transparent and reliable manner.
[Flow of providing environmental attribute certificates to our customers through this initiative]
● Role of Shell
1. Conversion of fuel for third-party shipping companies from fossil fuel VLSFO (very low sulfur fuel oil) to FAME (fatty acid methyl ester), a type of low-carbon biofuel, thereby achieving GHG emission reductions.
2. Shell receives the environmental value (Scope 3 emission reduction value for the shipper) that the third-party shipping company could originally provide to the shipper, regarding the said reduction.
3. Shell registers the returned environmental value in the 123Carbon registry and manages it in a form assignable to the Company.
● Role of the Company
1. Receives the Scope 3 emission reduction value for the shipper, allocated from Shell.
2. Conducts third-party verification in accordance with the MBM Framework and converts it into an environmental attribute certificate.
3. Makes it available as a low-carbon marine transport service for our customers through our carbon insetting and Book and Claim program "BLUE ACTION NET-ZERO ALLIANCE" (Note 5).
Through this initiative, we are now able to offer flexible decarbonization solutions not limited to our own operated vessels, expanding the options available to meet our customers' diverse decarbonization needs. It also demonstrates the potential for various stakeholders involved in the maritime ecosystem to collaborate and expand decarbonization efforts in a more effective manner.
In our group's "Environmental Vision ~BLUE ACTION 2035 Phase 2~" (https://www.mol.co.jp/sustainability/environment/vision/), the carbon insetting business is positioned as one of the "mechanisms for enhancing the effectiveness of reductions." MOL will continue to explore further collaboration opportunities with Shell to meet the needs for providing environmental attribute certificates that extend beyond maritime transport to other modes such as air and land transport, and will strengthen its carbon insetting business through various initiatives, including this one.
The background to the realization of this mechanism lies in internationally shared rules and the existence of a third-party management platform. Based on the international rules (Market Based Measures Accounting Framework, hereinafter "MBM Framework": Note 3) published by the international NPO Smart Freight Centre (hereinafter "SFC"), and by utilizing a third-party registry provided by 123Carbon B.V. (hereinafter "123Carbon"), a new Book and Claim (Note 4) scheme has been realized. This scheme allows for the management and provision of environmental value derived from low-carbon fuels to customers in a transparent and reliable manner.
[Flow of providing environmental attribute certificates to our customers through this initiative]
● Role of Shell
1. Conversion of fuel for third-party shipping companies from fossil fuel VLSFO (very low sulfur fuel oil) to FAME (fatty acid methyl ester), a type of low-carbon biofuel, thereby achieving GHG emission reductions.
2. Shell receives the environmental value (Scope 3 emission reduction value for the shipper) that the third-party shipping company could originally provide to the shipper, regarding the said reduction.
3. Shell registers the returned environmental value in the 123Carbon registry and manages it in a form assignable to the Company.
● Role of the Company
1. Receives the Scope 3 emission reduction value for the shipper, allocated from Shell.
2. Conducts third-party verification in accordance with the MBM Framework and converts it into an environmental attribute certificate.
3. Makes it available as a low-carbon marine transport service for our customers through our carbon insetting and Book and Claim program "BLUE ACTION NET-ZERO ALLIANCE" (Note 5).
Through this initiative, we are now able to offer flexible decarbonization solutions not limited to our own operated vessels, expanding the options available to meet our customers' diverse decarbonization needs. It also demonstrates the potential for various stakeholders involved in the maritime ecosystem to collaborate and expand decarbonization efforts in a more effective manner.
In our group's "Environmental Vision ~BLUE ACTION 2035 Phase 2~" (https://www.mol.co.jp/sustainability/environment/vision/), the carbon insetting business is positioned as one of the "mechanisms for enhancing the effectiveness of reductions." MOL will continue to explore further collaboration opportunities with Shell to meet the needs for providing environmental attribute certificates that extend beyond maritime transport to other modes such as air and land transport, and will strengthen its carbon insetting business through various initiatives, including this one.