MOL and DP World sign MoU to explore auto logistics and decarbonization business opportunities
Mitsui O.S.K. Lines, Ltd. and DP World announced the signing of a memorandum of understanding (MoU) to explore opportunities to enhance auto logistics capabilities at Jebel Ali Port and reduce carbon emissions in port and maritime applications in the UAE and beyond, according to the company's release.
As part of this agreement, the companies will conduct feasibility studies for business opportunities related to stocking, enhancing, and strategically redistributing fully assembled cars through Jebel Ali Port. The decarbonization component of the new cooperation will center on developing the regional market for clean fuels for maritime and port-based applications, and other related decarbonization business areas.
MOL has positioned its environmental strategy as one of the key strategies in its "BLUE ACTION 2035" management plan, and has set the goal of achieving net zero greenhouse gas (GHG) emissions by 2050 in the "MOL Group Environmental Vision 2.2." Through this alliance with DPW, it will pursue GHG reduction of the ports and vessels around UAE and GCC and contribute to the realization of a low-carbon and decarbonized society.
MOL, headquartered in Japan, is a leading shipping company, operating on a global scale with about 800 vessels in service. The company develops various social infrastructure businesses centered on ocean shipping, as well as technologies and services to meet ever-changing social needs including environmental protection. The MOL fleet includes dry cargo ships, liquefied natural gas (LNG) carriers, car carriers, and tankers.
DP World operates Jebel Ali Port and the Jebel Ali Free Zone, known as Jafza, which is the Middle East's biggest automotive trading hub and largest used car market with over 1.53 million sqm of combined facilities. The company's facilities include a RoRo terminal at Jebel Ali Port, capable of handling one million car equivalent units (CEUs) per year, and up to 27,000 CEUs within its quaysides, including the region's largest multi-story facility.
