CODELCO and NYK Bulk Projects to Jointly Study Decarbonized Transportation of Copper Products

On November 24, Corporación Nacional del Cobre de Chile (CODELCO), one of the world’s leading copper producers and a Chilean state-owned company, and NYK Bulk & Project Carriers Ltd. (NBP), an NYK Group company, signed a memorandum of understanding (MoU) to jointly study the decarbonized transportation of copper products. The two companies will jointly promote the evaluation and development of next-generation fuel technologies and study the use of decarbonized vessels for oceangoing transport of copper products.

Global demand for copper is expected to increase in the future due to the expected development of power grids for offshore wind power generation, the spread of electric vehicles, etc. CODELCO and NBP aim to contribute to the realization of a decarbonized society by transporting and supplying copper products by means of transportation having a low environmental impact.

Signing ceremony
From left
Carlos Alvarado, Chief Commercial Officer, CODELCO
Máximo Pacheco, Chairman of the Board, CODELCO
Masashi Suda, Executive Vice President, NBP

The two companies will collaborate by taking advantage of each company’s strengths and experience, with a view to involve third parties in the future, to decarbonize the supply chain of copper products.

Máximo Pacheco, Chairman of the Board, CODELCO:

“We have signed with NBP an MOU to jointly explore a technology based on next-generation fuels that allows us to advance in the decarbonization of the shipping transport of our products. This is a significant step for CODELCO in its desire to reduce the carbon footprint of its work, not only with respect to direct emissions, but also indirect emissions, as in this case.”

Motoyuki Nose, President, NBP:

“We have deepened our relationship with CODELCO for more than 30 years, mainly through oceangoing transportation of copper products by bulk carriers. I am very honored to be able to work with CODELCO to promote joint studies in various fields toward the decarbonization of oceangoing transportation of copper products. We, as a specialized company in transportation using handy bulkers, multipurpose ships, heavy-lift ships, and self-propelled deck carriers, aim to contribute to decarbonization of the world in cooperation with customers by taking the maximum advantage of the knowledge and technology that the NYK Group has accumulated.
Source: NYK