Fratelli Cosulich Marine Energy, a business unit of the Italy-based Fratelli Cosulich Group focused on the marine energy sector, and IINO Kaiun Kaisha (IINO Lines), a Japan-based shipping company, have signed a memorandum of understanding (MoU) to explore new business opportunities in the alternative marine fuels sector.
As disclosed, the agreement builds on the existing relationship between the two companies and establishes a basis for future collaboration in methanol, LNG, and ammonia bunkering.
Through the MoU, the parties are expected to engage in joint initiatives, exchange market insights, and facilitate connections with potential suppliers and stakeholders in the alternative fuels space.
Yusuke Otani, President of IINO Lines, stated: “We are proud to announce the partnership with Fratelli Cosulich for initiatives in alternative marine fuels. Both companies have extensive history in the shipping industry. The joint development will enable a holistic approach for building a supply chain of alternative marine fuels.”
Timothy Cosulich, CEO of Fratelli Cosulich Group, commented: “As we navigate the energy transition, partnerships like the one we announce today with IINO Lines are essential in shaping the future of sustainable shipping. By combining our expertise and resources, we aim to drive the adoption of cleaner marine fuels and contribute to the decarbonization of global shipping.”
In other recent news, Fratelli Cosulich marked the beginning of the construction of its first methanol-ready IMO II bunker tanker, Anna Cosulich, with steel cutting ceremony at Taizhou Maple Leaf Shipyard in China.
The 7,999 dwt vessel is the first in a series of four methanol-ready IMO Type II chemical bunkering tankers ordered by the company in 2024 and is set for delivery in the first quarter of 2026.
As for IINO Lines’ recent activities, it is worth noting that together with Finnish cleantech company Norsepower and electric power company J-POWER, it completed the installation of one Norsepower Rotor Sail, a wind propulsion system, onboard a bulk carrier.
The 24m x 4m Norsepower Rotor Sail was installed onboard the 2016-built bulk carrier Yodohime in December 2024, and the vessel completed its first voyage with the wind propulsion system fitted on its forecastle deck in January 2025.