ESG & Sustainability
Green Energy & Sustainability
Cosco Shipping Lines (Belgium) (SA) is committed to integrating the concepts of “innovation, coordination, green, openness, sharing” and sustainable development to the whole process of operation and management, promoting green transformation of the international shipping industry, to achieve the goal of carbon neutrality. In line with IMO’s target, COSCO Shipping has put focus on low carbon operations, greener energy use, shore power transformation, greenhouse gas emission reduction, navigation fuel oil-saving measures.
COSCO Shipping has entered a partnership with several other key players such as Maersk, CMA CGM for the World’s first transpacific green shipping corridor between ports in the United States and China to achieve decarbonization goals which include:
COSCO Shipping has ordered twelve methanol dual-fuel 24,000 TEU containerships worth nearly $2.9bn. Compared with alternative products, methanol has more convenient storage and transportation requirements, lower infrastructure costs and significant safety advantages. Methanol fuel can reduce carbon emissions by 75%, reduce nitrogen emissions by 15% and reduce sulphur and particulate emissions by 99%. It is rapidly developing into a marine fuel substitute. Currently, methanol ships can be refuelled at more than 100 ports around the world.
COSCO Shipping has been investing in 0-carbon fully battery-powered electric containerships and has ordered two 700TEU ships. The first vessel is due for delivery in October 2023 followed two months later by the second. COSCO Shipping is playing a leading role in adopting clean fuel technology. On 11th July 2022, the 4,250 TEU Cosco Shipping Lines (Belgium) (SA) container vessel was bunkered with Total Energies-supplied biofuel in Singapore. VLSFO blended with 20% second-generation, waste-based and ISCC-certified UCOME (Used Cooking Oil Methyl Ester). From a well-to-wake assessment, the biofuel will reduce approximately 17% of Greenhouse Gas (GHG) emissions compared with conventional fuel oil.