Japanese shipping giant NYK Bulk & Projects Carriers (NYK Bulk) has struck a decarbonisation alliance with a Chilean copper producer.
NYK Bulk and state-owned Corporacion Nacional del Cobre de Chile (Codelco) have signed a memorandum of understanding (MOU) to study the decarbonised transportation of copper products.
Worldwide demand for copper is expected to increase in the future, led by the development of power grids for offshore wind and the switch to electric vehicles.
Codelco and NYK Bulk will jointly promote the evaluation and development of next-generation fuel technologies and study the use of next-generation zero-carbon emission ships to transport copper products.
The companies, which have a relationship of more than 30 years, have stated their goal to achieve net-zero emissions in their shipping operations by 2050.
They will collaborate by taking advantage of each other’s strengths and experience, with a view to involving third parties in the future, to decarbonise the supply chain of copper products.
Codelco chairman Maximo Pacheco said: “We have signed with NYK Bulk an MOU to jointly explore a technology based on next-generation fuels that allows us to advance in the decarbonisation of the shipping transport of our products.
“This is a significant step for Codelco in its desire to reduce the carbon footprint of its work, not only with respect to direct but also indirect emissions, as in this case.”
NYK Bulk president Motoyuki Nose said: “I am very honoured to be able to work with Codelco to promote joint studies in various fields toward the decarbonisation of oceangoing transportation of copper products.
“As a specialised company in transportation using handy bulkers, multipurpose ships, heavylift ships and self-propelled deck carriers, we aim to contribute to decarbonisation of the world in cooperation with customers by taking the maximum advantage of the knowledge and technology that the NYK Group has accumulated.”
