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, according to NYK's release.
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.
Codelco is the largest copper producer in the world. Its main activity is to explore, develop and exploit mining resources; process them to produce refined copper and by-products, and market them to customers around the world. From the Nationalization in 1971 to 2021, it has generated surpluses of US$142 billion for the State of Chile (in 2021 currency). It has assets of US$43 billion and equity of US$11.6 billion as of December 2021. It operates in seven mining divisions in Chile.
NYK Bulk & Projects Carriers Ltd. was established on October 1, 2013, as the product of a merger between NYK-Hinode Line Ltd. and NYK Global Bulk Corporation. NYK-Hinode Line Ltd. was one of the pioneers of heavy lift carriers, and NYK Global Bulk Corporation has played a significant role in the industry as one of the world’s largest specialists in handy bulk carriers.
Nippon Yusen Kabushiki Kaisha (NYK) was founded in 1885 and is one of the world's leading transportation companies. At the end of March 2022, the NYK Group was operating 814 major ocean vessels, as well as fleets of planes and trucks. The company's shipping fleet includes 354 bulk carriers, 118 car carriers, 55 containerships (including semi-containerships), 85 LNG carriers (including those owned by equity method affiliates), 68 tankers, 37 wood-chip carriers, one cruise ship, and 96 other ships (including shuttle tankers and multipurpose and project cargo vessels). The NYK Group is based in Tokyo, employs about 35,000 people worldwide, and has regional headquarters in London, New York / New Jersey, Singapore, and Shanghai. On February 3, 2021, NYK announced the “NYK Group ESG Story,” which aims to further integrate ESG into the company’s management strategy.
