NYK Bulk Projects has signed a memorandum of understanding (MoU) with Chile’s Corporación Nacional del Cobre de Chile (CODELCO), one of the world’s leading copper producers, to jointly study ways in which they can decarbonise the transport of copper products.

NYK Line

Image source: NYK Group; L-R: Carlos Alvarado, chief commercial officer, CODELCO; Máximo Pacheco, chairman of the board, CODELCO; Masashi Suda, executive vice president, NBP.

They will promote, evaluate and develop the next-generation fuel technologies and study the use of decarbonised vessels for the ocean-going transport of copper products. Through the collaboration, with a view to involve third parties in the future, the companies hope to decarbonise the supply chain of copper products.

Motoyuki Nose, president at NYK Bulk Projects, added: “We, as a specialised company in transportation using handy bulkers, multipurpose ships, heavy lift ships, and self-propelled deck carriers, 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.” 

NYK Bulk Projects added that global demand for copper is expected to increase in the future due to the expected development of power grids for offshore wind power generation, as well as the spread of electric vehicles.