Total, the world's fourth-ranked international oil and gas company, and CMA CGM, a leading worldwide shipping group, have signed a three-year memorandum of understanding.
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.
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.
"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," stated Patrick Pouyanné, Chairman and Chief Executive Officer of Total. "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 is also very active in marine lubricants, which it markets under the Lubmarine brand.
"With the signature of this MOU, CMA CGM is continuing the sustainable development process begun several years ago," commented Rodolphe Saade, Vice Chairman of CMA CGM. "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."
Source: CMA CGM
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