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Mitsui Osk Lines Ltd News

12 Mar 2024

MOL Teams Up with Rio Tinto for Decarbonization of Maritime Transportation

(Credit: MOL)

Mitsui O.S.K. Lines, Ltd. (MOL) and Rio Tinto have signed the partnership agreement to enhance collaboration on both safety and crew welfare initiative and decarbonization of maritime transportation.MOL and Rio Tinto have agreed to further collaborate on shipping decarbonization in addition to the existing commitment to the DOO program through a deal signed on January 24, 2024.The DOO program is a Rio Tinto initiative aimed at enhancing safety and improving crew welfare in the…

15 Dec 2023

MOL First Shipping Company to Issue 'Blue Bonds'

An examples of potential uses of the bonds’ proceeds include Wind Hunter, the ultimate zero emission ship. Image courtesy MOL

Mitsui O.S.K. Lines, Ltd. has decided to issue “blue bonds” through a public offering in Japan’s domestic market in January 2024, reportedly the world’s first blue bonds in the shipping industry, which refer to the guidance provided by the International Capital Markets Association (ICMA) and other organizations.The Blue Bond Framework developed for the issuance of the bonds will ensure that all uses of the bonds’ proceeds will contribute to a sustainable blue economy, and the bonds received the highest rating of “Blue1(F)” from the Japan Credit Rating Agency, Ltd.

11 Dec 2023

Nations and Industry Partners Respond to Green Shipping Challenge

Source: Yara

Norway’s Prime Minister Jonas Gahr Støre and US Special Presidential Envoy for Climate John Kerry are co-leading an international initiative to accelerate reduction of emissions from the shipping sector, and on December 1, during COP28, they chaired a new round of announcements under that initiative, the Green Shipping Challenge.Various countries and organizations proposed measures to reduce emissions from shipping. This year’s announcements include:• Amazon: Amazon and other…

14 Nov 2023

Japan: LNG-Powered Coal Carrier Starts Operation

Credit: MOL

Japan's Mitsui O.S.K. Lines, Ltd. (MOL) and Kyushu Electric Power Co., Inc. (Kyuden) said Tuesday that a Panamax coal carrier that uses low-environmental-impact LNG as its main fuel was delivered and started operation on November 14.In a naming and delivery ceremony held at the Imari Shipyard and Works of Namura Shipbuilding Co., Ltd., the new vessel was named Reimei.The Reimei, a large LNG-fueled coal carrier, is operated by MOL to transport coal from overseas to Kyuden's coal-fired thermal power plants.Credit: MOLCompared to conventional marine fuel…

09 Nov 2023

Yanmar Delivers Its First Maritime Hydrogen Fuel Cell System

(Photo: MOTENA-Sea)

Yanmar Power Technology Co., Ltd. (Yanmar PT), a subsidiary of Yanmar Holdings Co., Ltd, has made its first delivery of its newly commercialized maritime hydrogen fuel cell system, introduced in August 2023. This system was supplied to the passenger ship Hanaria, operated by MOTENA-Sea, a company backed by Mitsui O.S.K. Lines, Ltd. and other investors.The Hanaria is Japan's first hybrid passenger ship to use both hydrogen and biodiesel. The vessel operates with an onboard electric propulsion system that powers the ship’s drive using generated electricity.

19 Oct 2023

Hydrogen-fueled Ship Earns AIP

Image of Hydrogen-fueled Multi-Purpose Vessel (D/W 17,500 M.T.). (courtesy of J-ENG)

ClassNK has issued an Approval in Principle (AiP) for a parcel layout concept for a hydrogen-fueled multi-purpose vessel developed by Mitsui O.S.K. Lines, Ltd. (MOL), MOL Drybulk Ltd. (MOL Drybulk), Onomichi Dockyard Co., Ltd. (Onomichi Dockyard), Kawasaki Heavy Industries, Ltd. (Kawasaki), Japan Engine Corporation (J-ENG). This is the world’s first AiP certification for a ship equipped with a large low-speed two-stroke hydrogen-fueled engine as the main propulsion engine.Demonstration…

05 Oct 2023

Japanese Shipping Giant Buys Into Norwegian Floating Wind Firm

Credit: Odfjell OceanWind

Japanese shipping giant Mitsui O.S.K. Lines, Ltd. (MOL) has, following a recent private placement, become a shareholder in Odfjell Oceanwind, a Norwegian floating wind technology developer."The transaction generates significant capital which will be used to further strengthening Odfjell Oceanwind’s position as a global leader and frontrunner in floating offshore wind technologies. Odfjell Technology Ltd. combined with the Odfjell family’s direct investment will remain the largest shareholder in the company…

04 Oct 2023

MOL and EDF Renewables Join Forces to Drive Offshore Wind and Green Hydrogen Development

Floating offshore turbine of Provence Grand Large (France), the first worldwide using TLP technology
©CAPA CORPORATE/EDF RENEWABLES

Japanese shipping firm Mitsui O.S.K. Lines, Ltd. (MOL) and French renewable energy firm EDF Renewables have signed a memorandum of understanding (MoU) to cooperate in the acceleration of the development of offshore wind and related business and to encourage developments in green hydrogen."With this MoU, both partners wish to collaborate and bring together their respective and complementary expertise and experience in offshore wind energy as well as in green hydrogen solutions…

22 Sep 2023

Petronas, MISC, MOL Looking to Create LCO2 Carrier Joint Venture

Illustration - Mitsui O.S.K Lines in June received in-principle approvals for a liquefied CO2 vessel and a floating storage and offloading unit (FSO) from the American Bureau of Shipping. - CG rendering shows offloading CO2 from LCO2 carrier to LCO2 FSO and injection unit. - ©Mitsui OSK

Petronas CCS Ventures, a subsidiary of the Malaysian oil and gas giant Petronas has signed a term sheet with Mitsui O.S.K Lines, Ltd. (MOL) and MISC Berhad for the potential incorporation of a joint venture entity to invest in developing and monetising Liquefied Carbon Dioxide (LCO2) carriers for Carbon Capture and Storage (CCS) projects in Malaysia. The parties have agreed in principle on the key commercial terms to allow progress to the next stage."Building on the February 2022…

11 Sep 2023

MOL and Shell Partner to Advance Maritime Decarbonization

At the signing ceremony in Singapore. Mr. Kazuhiro Takahashi, Executive Officer of MOL and Ms. Melissa Williams, President of Shell Marine (Photo: MOL)

Mitsui O.S.K. Lines, Ltd. (MOL) and Shell Marine Products Singapore, a business division of Shell Eastern Trading Pte. Ltd (Shell), have signed a memorandum of understanding (MOU) to jointly focus on the advancement of alternative maritime solutions and managing carbon emissions liabilities holistically, particularly in the development of green future marine fuels. As part of the agreement, the two companies will look to jointly conduct trials to explore the viability of bio- and synthetic fuel options as realistic decarbonization pathways.

23 Jun 2023

Subsea Cable Laying, Protection Innovation Funded in Japan

Copyright aapsky/AdobeStock

NYK, as a member of a consortium of four companies (also including: Sumitomo Electric Industries, Ltd.; Furukawa Electric Co., Ltd.; and Mitsui O.S.K. Lines, Ltd.) has been selected by Japan’s New Energy and Industrial Technology Development Organization (NEDO) in an open call for applications related to the "Development of basic technologies for a multi-purpose and multi-terminal high voltage direct current transmission system,” in addition to the “development of construction methods for the installation of cable protecting system…

05 Apr 2023

Dorian LPG Takes Delivery of Dual-fuel VLGC

(Photo: Dorian LPG)

Liquefied petroleum gas (LPG) shipping company Dorian LPG announced it has taken delivery of the newly built very large gas carrier (VLGC) Captain Markos from Japanese shipbuilder Kawasaki Heavy Industries.The 84,000 cubic meter capacity VLGC is a dual-fuel vessel capable of running on on LPG and low-sulfur fuel oil.The ship  is owned by a Japanese owner will be operated by Dorian LPG under a 13-year bareboat charter, trading in the Helios LPG Pool which Dorian LPG jointly operates with Phoenix Tankers Pte. Ltd., a wholly-owned subsidiary of Mitsui OSK Lines Ltd.

07 Mar 2023

MOL Bulk Carrier to be Equipped with Rotor Sails

(Image: Norsepower)

Japanese shipping company Mitsui O.S.K. Lines, Ltd. (MOL) and Brazilian headquartered mining company Vale are teaming up to retrofit an in-service bulk carrier with rotor sail auxiliary wind propulsion to help reduce fuel burn and greenhouse gas (GHG) emissions.The 200,000-ton class Capesize bulk carrier, currently employed under a mid-term contract for transportation of iron ore for Vale, will be fitted with a pair of 35- by 5-meter rotor sails produced by Finland's Norsepower.

23 Feb 2023

MOL Sees Cow Manure as Path to Slash Vessel Emissions

© Oligo / Adobe Stock

Japanese shipping company Mitsui O.S.K. Lines, Ltd. (MOL) said it is seeking to use cattle manure as part of its strategy to reduce vessel emissions.The company announced it has signed a memorandum of understanding (MOU) with Air Water Inc. to study the use of liquefied biomethane (LBM) derived from cattle manure in vessels fueled by liquefied natural gas (LNG).MOL, which has set a target to achieve net zero greenhouse gas emissions by 2050, has been accelerating the deployment…

26 Jan 2023

MOL's Ammonia-powered Bulk Carrier Design Gets AIP from ClassNK

(Image: MOL)

Japanese shipping company Mitsui O.S.K. Lines, Ltd. (MOL) and trading company Mitsui & Co., Ltd. announced they have received approval in principle (AIP) from classification society ClassNK for the design of a large ammonia-powered bulk carrier.MOL and Mitsui jointly determined the size and specifications of the vessel, and both companies entrusted Mitsubishi Shipbuilding Co., Ltd. for design of the vessel. The AIP covers a 210,000 DWT Capesize bulker.The design calls for a main engine fueled by ammonia, which emits no CO2 when burned, thereby achieving zero CO2 emissions during the voyage.

21 Nov 2022

Japan's MOL, JERA to Study Transportation of Ammonia Fuel

©MOL via Jera

Japan's Mitsui O.S.K. Lines Ltd. (MOL) said on Monday it had signed a memorandum of understanding (MoU) with JERA, the country's biggest power generator, to study transporting ammonia for using it as a fuel. The study will include looking at ammonia shipments to JERA's Hekinan power station in the Aichi prefecture, which is scheduled to start commercial operations towards the end of the decade, MOL said in the statement. "With ammonia emerging as a next-generation clean energy source that does not emit carbon dioxide during combustion…

20 Sep 2022

TotalEnergies Bunkers CMA CGM Containership with Sustainable Marine Biofuel in Singapore

Credit: TotalEnergies Marine Fuels

TotalEnergies Marine Fuels recently completed the refueling of a CMA CGM containership in Singapore with sustainable marine biofuel. "This operation marks another milestone in TotalEnergies Marine Fuels’ ambition to become a key biofuel bunker supplier across strategic bunker hubs by 2030," the company said.On July, 29, 2022, the 4,294 TEU CMA CGM MONTOIR container vessel was bunkered via ship-to-ship transfer with TotalEnergies-supplied biofuel. The biofuel is made of VLSFO (Very Low Sulfur Fuel Oil) blended with 24% second-generation…

12 Sep 2022

DNV Grants AIP to MOL and Mitsubishi Shipbuilding for LCO2 Carrier

AIP presentation ceremony held at Gastech 2022 (Photo: MOL)

Mitsui O.S.K. Lines, Ltd. (MOL) and Mitsubishi Shipbuilding Co., Ltd. have received approval in principle (AIP) for their jointly developed liquefied CO2 (LCO2) carrier from the Norwegian classification society DNV. The presentation ceremony took place on September 5 at  the Gastech 2022 conference in Milan, Italy.The LCO2 carrier that underwent a Hazard Identification Study (HAZID) and received an AIP is a 50,000m3-class vessel for which the two companies completed a joint concept…

30 Aug 2022

MOL's New LNG-powered Ferry Named in Japan

Credit: MOL

Mitsui O.S.K. Lines, Ltd. (MOL) has informed that on August 30, naming and launching ceremonies were held for the second of Japan's first two LNG-fueled ferries. The ferries were ordered from Mitsubishi Shipbuilding Co., Ltd..The ceremonies were held at the Enoura Plant of Mitsubishi Heavy Industries, Ltd. Shimonoseki Shipyard & Machinery Works in Japan.MOL Chairman Junichiro Ikeda named the vessel the "Sunflower Murasaki."On hand for the rope-cutting honors was para-athlete Maya Nakanishi, who has ties to both Osaka and Oita Prefecture, homes to the ports the new ferry will serve.

26 Aug 2022

MOL Orders Six LNG-fueled Vessels

(Image: MOL)

Mitsui O.S.K. Lines, Ltd. (MOL) announced it has ordered six liquefied natural gas (LNG)-fueled vessels—four bulk carriers and  two tankers—as the Japanese shipping company makes headway toward its goal of 90 LNG-fueled vessels by 2030.The company said on Friday signed a deal for construction of four 210,000 DWT-class Capesize bulkers with CSSC Qingdao Beihai Shipbuilding Co., Ltd., marking MOL's first newbuild order from the Chinese shipyard. Slated for delivery in succession from 2025 through 2026…

23 Aug 2022

MOL PLUS Opens UK Desk in London

The New Business Project Team members at MOL (Europe Africa) Ltd. (Photo: MOL)

MOL PLUS, the corporate venture arm of Japanese shipping company Mitsui O.S.K. Lines, Ltd. (MOL), announced it has expanded its operations outside of Japan with the opening of a London location in July.The MOL PLUS UK Desk will be operated by the New Business Project Team members at MOL (Europe Africa) Ltd. It will aim to build investment and collaborative opportunities in shipping, primarily targeting new technologies and businesses focused on the environment and renewable energy…

23 Aug 2022

ClassNK Grants AiP for MOL's Large LCO2 Carrier

 Image of a LCO2 Carrier (Courtesy of Mitsui O.S.K. Lines)

Classification society ClassNK has issued an Approval in Principle (AiP) for the design of a large-scale liquefied carbon dioxide (CO2) carrier developed through Research and Development Project from NEDO by Mitsui O.S.K. Lines, Ltd. (MOL).MOL has launched research and development (R&D) on the adoption of a large-scale liquefied CO2 carrier in response to a call for proposals by Japan's New Energy and Industrial Technology Development Organization (NEDO) to complete the conceptual design, under a project entrusted by NEDO to Japan CCS Co., Ltd. (JCCS).

10 Aug 2022

MOL Opts to Equip Second Bulk Carrier with Hard Sail

(Image: MOL)

Japanese shipping company Mitsui O.S.K. Lines, Ltd. (MOL) on Wednesday said it intends to equip a second bulk carrier with the Wind Challenger hard sail system, which harnesses the power of wind to propel the vessel, improving efficiency and reducing fuel consumption and emissions.MOL Group company MOL Drybulk Ltd. will operate the vessel, which will transport wood pellets for sustainable wood bioenergy producer Enviva Inc. and has signed a construction contract for the new ship with Oshima Shipbuilding Co.…