MOL, Tata Steel to Develop Environmentally Friendly Bulk Carrier
Japanese shipping giant Mitsui O.S.K. Lines (MOL) and its dry bulk subsidiary MOL Drybulk have signed a memorandum of understanding with steelmaker Tata Steel to develop and deploy an environmentally friendly bulk carrier.
MOL will partner with Tata Steel on this innovative project to reduce greenhouse gas emissions in its supply chain.
Peeyush Gupta, Vice President, Supply Chain, Tata Steel, said: "The objective of the agreement is to reduce greenhouse gas (GHG) 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."
Toshiaki Tanaka, Senior Managing Executive Officer and Chief Environment and Sustainability Officer of MOL, said: "We have recently established MOL Group Environmental Vision 2.1, where we announced that MOL Group will make a concerted effort throughout the Group to achieve net-zero GHG emissions by 2050.
He said that the company would also pursue the adoption of clean alternative fuels and the enhancement of energy-saving technologies.