Mitsui OSK Lines announced that its group company MOL Drybulk Ltd will start sea trials of Panamax bulk carrier CS OLIVE, chartered from Chugoku Sougyo CO, using biofuel in late June 2022. MOL has signed a deal for biofuel supply with Chevron Singapore and about 500 tons of International Sustainability & Carbon Certification certified biofuel will be bunkered on the vessel at Port of Singapore. The biofuel supplied by Chevron Singapore is blended with Used Cooking Oil Methyl Ester as a 20% to 24% component in the VLSFO. This biofuel can be used on vessels without changing engine specifications and is expected to decrease approximately 15% to 20% of exhausted CO2 based on lifecycle analysis.Biofuel is positioned as an effective alternative to fossil fuels in the MOL Group's new environmental strategy 'MOL Group Environmental Vision 2.1', which was announced in June, 2021. MOL Group continually takes a proactive stance in promoting the Adoption of Clean Alternative Fuels such as biofuel with the aim of reducing greenhouse gas emissions in ocean transport.