MOL & Tata Steel to Cut GHG Emissions in Bulk Carriers
Leading global marine transport group Mitsui OSK Lines Ltd, 100% subsidiary MOL Drybulk Ltd and Tata Steel Limited have signed a memorandum of understanding to develop and deploy an environment friendly bulk carrier. The objective of the agreement is to reduce greenhouse gas emissions in the ocean transportation of raw materials for production of steel. In the initial stage, the partnership will explore the environmental benefits and commercial and operational feasibilities of various technologies. This will include the, "Wind Challenger, a hard sail, which would reduce emissions by harnessing wind energy.
MOL has been jointly studying the technology with cross-industrial partners and the first vessel to be equipped with the Wind Challenger is slated to start operation in 2022.
Tata Steel’s Chief Group Shipping and Director RM Procurement Mr Ranjan Sinha said "Tata Steel as a signatory of Responsible Steel is committed to aligning its shipping activities with responsible environmental behaviour. We are pleased to be joining hands with MOL, a reputed global marine transport company, in combining efforts towards sustainable shipping."