TOKYO– Mitsui O.S.K. Lines, Ltd. (MOL; President & CEO: Takeshi Hashimoto) announced the signing of a memorandum of understanding (MOU) to develop a green corridor connecting Portugal to Northern Europe with Madoqua Renewables Holding Lda (Madoqua)(Note) and other global leaders (figure below). Madoqua is a renewable energy developer and will be the project coordinator, focused on driving collaboration across the entire value chain. The MOU reinforces MOL’s leadership in sustainable shipping innovation.

This Green Corridor project aims to establish a shipping route where low-emission shipping solutions are utilized and low carbon fuels are transported.