Singapore-based Consort Bunkers and China Marine Bunker (PetroChina) (Chimbusco) have signed an agreement to promote the supply of low-carbon marine fuels.

The MoU was signed in Shanghai on November 5, attended by senior executives from both companies, Chimbusco said in a statement on its website on Friday.

Under the MoU, the two firms will jointly explore new business models and expand collaboration in areas including alternative fuels and digital solutions for fuel supply.

“Establishing a long-term and stable strategic partnership is an important step for the company in realizing its goal of building a world-class, technology-driven marine fuel service provider, and it will help leverage their respective strengths to contribute to a stable supply of green marine fuel,” Yang Sujing, director of Consort Bunkers, said.

Established in 1988, Consort Bunkers offers bunkering services in Singapore, Fujairah, Khor Fakkan, Sharjah, Rashid, Jebel Ali, Zhoushan and Ningbo.