Oil and gas company Total and CMA CGM have[ds_preview] signed a three-year memorandum of understanding for the supply of a range of multifuel solutions. The move comes as a reaction of the French shipping group to upcoming environmental regulations for shipping.
The two partners will be combining their expertise to prepare for stricter fuel regulations in the shipping industry and further reduce the sector’s footprint by developing solutions that make container ships ever more environmentally-friendly.
According to the agreement Total will support CMA CGM by becoming its multifuel supplier, providing a comprehensive range of solutions:
- Fuel oil with a sulfur content of 0.5%.
- Fuel oil with a sulfur content of 3.5% for ships equipped with exhaust gas cleaning systems, or scrubbers, which reduce the polluting emissions before they are released into the atmosphere.
- LNG, which offers numerous advantages from an environmental standpoint, including the reduction of CO2 emissions, the elimination of sulfur oxide (SOx) emissions, drastic decrease of nitrogen oxides (NOx) and particulate matters.
Rodolphe Saadé, Vice Chairman of CMA CGM, commented: »With the signature of this MOU, CMA CGM is continuing the sustainable development process begun several years ago. The solutions offered by Total will enable us to further minimize the environmental impact of the Group’s activities and is a next step in building a more environmentally conscious shipping industry.«
Patrick Pouyanné, Chairman and Chief Executive Officer of Total, added: »As a global integrated energy producer and provider present across the oil and gas value chain, we aim to offer our customers a range of multifuel solutions to meet their different needs. The new regulations require both marine fuel suppliers and shipping industry stakeholders to adapt quickly. That is why we are working hand in hand with CMA CGM, a long-standing partner.«
Accordingly, the Group’s specialized affiliate Total Marine Fuels will be renamed Total Marine Fuels Global Solutions on February 1, 2017. The new organization intends in particular to become a leading player in the LNG bunker market. Total, the world’s fourth-ranked international oil and gas company, is also very active in marine lubricants, which it markets under the Lubmarine brand.