MOL Partners on Green Corridor Linking Portugal to N. Europe

Mitsui O.S.K. Lines (MOL) has signed a memorandum of understanding (MoU) with Madoqua Renewables Holding Lda and other international industry leaders to establish a green shipping corridor connecting Portugal with Northern Europe.

Madoqua, a renewable energy developer, will coordinate the project, fostering collaboration across all stages of the value chain to ensure its success.

The Green Corridor initiative is designed to create a sustainable shipping route utilizing low-emission technologies and facilitating the transport of low-carbon fuels.

The project brings together a diverse coalition of companies from Europe, Asia, and North America. Participants include financial institutions, terminal operators, academic and policy organizations, industrial entities committed to decarbonization, green fuel producers, and users of alternative fuels.

As the Shipping Logistics Partner, MOL will play a pivotal role in transporting green fuels and CO2, focusing on advancing the adoption of zero-emission vessels to reduce carbon emissions in maritime transport.

MOL will also provide strategic expertise on the logistical and operational demands of green fuel transport, working with stakeholders to shape the development of green corridors. This effort aligns with MOL’s “Environmental Vision 2.2” strategy, which emphasizes achieving net-zero emissions and supports its broader goal of carbon neutrality by 2050.