Mitsui O.S.K. Lines (MOL) advances toward its 2030 goal of 90 LNG/Methanol vessels, announcing the addition of five new Dual-fueled Capesize bulkers to its fleet. These vessels, capable of burning LNG or conventional marine fuel oil, aim to significantly reduce emissions, reinforcing MOL's commitment to a sustainable shipping industry.
Mitsui O.S.K. Lines (MOL) made a significant announcement today, revealing plans to augment its fleet with an additional five Newbuilding Dual-fueled Capesize bulkers. These vessels, equipped to burn either LNG or traditional marine fuel oil, represent a substantial stride in the company's endeavor towards a greener shipping industry.
Of the five newly planned vessels, two will be commissioned to Nihon Shipyard Co., Ltd., to be constructed by Imabari Shipbuilding Co., Ltd., while the remaining three will be built by CSSC Qingdao Beihai Shipbuilding Co., Ltd. Scheduled for delivery between 2026 and 2027, these additions will bring MOL's tally of LNG-fueled Capesize bulkers to 13 in its fleet.
In its pursuit of reducing carbon emissions and enhancing environmental sustainability, MOL has already been operating one LNG-fueled vessel since March 2023, with a successful supply of LNG fuel.
LNG, known for its environmental benefits, is projected to notably reduce carbon dioxide (CO2) emissions by approximately 25%, eliminate sulfur oxide (SOx) emissions entirely, and decrease nitrogen oxide (NOx) emissions by around 85% compared to traditional marine fuel oil. This move aligns with MOL's commitment to achieving net-zero greenhouse gas (GHG) emissions by 2050, as outlined in the "MOL Group Environmental Vision 2.2."
The company's strategic approach involves expanding its LNG-fueled fleet across diverse vessel types such as car carriers, bulk carriers, tankers, ferries, and tugboats. This concerted effort aims to promptly reduce total GHG emissions while working towards broader sustainability goals.
MOL's decision to integrate five additional LNG-fueled Capesize bulkers into its fleet marks a pivotal stride in its commitment to environmental sustainability within the maritime industry. This expansion aligns with its ambitious vision to achieve net-zero GHG emissions by 2050 and underscores the company's dedication to implementing immediate measures for a more eco-conscious shipping future.