Japan’s Mitsui O.S.K. Lines (MOL) has partnered with Shell Trading Rotterdam B.V. to pilot a book-and-claim model that generates Environmental Attribute Certificates (EACs) from low-carbon marine fuel use on third-party vessels.
Under the arrangement, Shell arranged a fuel switch from VLSFO to FAME biofuel on a non-MOL-operated vessel.
While the vessel operator retained Scope 1 emissions benefits, it waived associated Scope 3 reductions for cargo owners.
These were recorded in the 123Carbon registry and allocated to MOL, which converted them into EACs for customers.
The framework follows guidance from the Smart Freight Centre’s Market Based Measures Accounting Framework, enabling emissions reductions to be decoupled from physical fuel use.
MOL said the initiative demonstrates how shipping companies can expand access to low-carbon transport solutions despite operational constraints, while supporting cargo owners’ decarbonisation goals.
