COSCO Shipping Lines Seals LSFO Supply Deal
- Business & Finance
China’s COSCO Shipping Lines has signed a low sulfur fuel oil (LSFO) supply agreement with Double Rich Limited, a subsidiary of China Marine Bunker (Petro China).
According to the agreement inked on March 28, 2019, Double Rich limited will provide fuel oil with sulfur content not exceeding 0.5% m/m for COSCO Shipping Lines’ vessels.
As explained, this would enable COSCO “to better fulfill the amendment of ANNEX VI in International Convention for the Prevention of Pollution from Ships (MARPOL), which has been adopted by IMO.”
By promoting and applying diverse emission reduction technologies and optimizing management pattern, COSCO is moving forward to realize green shipping. The LSFO supply deal has been described by the company as an important step towards “actively fulfilling MARPOL of IMO, confronting industry trends and adhering to green development.”
Preparing for the IMO 2020, the company has implemented research, development and application of ship desulfurization technology. On the basis of pilot installation of scrubbers on two vessels, COSCO Shipping Lines plans to equip more vessels with scrubbers.
COSCO added it intends, also in the future, to “fulfill international conventions and practice green concept by cooperating with partners and global major fuel suppliers.”