Decarbonisation centre starts 5-yr partnership with container shipper MSC

SINGAPORE (Reuters) - The Global Centre for Maritime Decarbonisation (GCMD) and MSC Mediterranean Shipping Company (MSC) on Thursday said they have signed a five-year agreement to work on decarbonising the shipping industry.

MSC, the leading container shipping company, will contribute funds to GCMD's pilots and trials of lower-emission fuels, the centre said in a statement.

The company has a target to reach net zero in 2050.

MSC will also provide access to its vessels, operational equipment, and other assets, as well as vessel operating data and evaluation reports that will aid GCMD's future trials, it added.

"Despite current economic uncertainties, decarbonising shipping will need liners - who are closest to customers willing to pay a green premium - to make hard commitments for the industry to progress towards the International Maritime Organisation's 2030 and 2050 goals," Lynn Loo, GCMD's chief executive officer said.

The GCMD, a Singapore-based non-profit organisation, aims to help the shipping industry eliminate greenhouse gas emissions by shaping standards for future fuels and piloting low-carbon solutions.

(Reporting by Matthew Chye; Editing by Janane Venkatraman)