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MOL First Shipping Company to Issue 'Blue Bonds'
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…
Nations and Industry Partners Respond to Green Shipping Challenge
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.
Sail Freight: Fair Winds or Grassroot Sustainability?
Climate change advocates and seafarers recently gathered for a small conference at the Hudson Valley Maritime Museum in Kingston, N.Y., to discuss the shipping industry’s struggle to achieve sustainability and environmental compliance.The setting, the hamlet of Rondout, N.Y. (within Kingston), holds significance as it was, ironically, a Hudson River port once considered the largest coal port in the world (yes, the world).
World's First Coal Carrier Equipped with Wind Challenger Sail Marks Maiden Call in Australia
Shofu Maru, the world’s first coal carrier equipped with the Wind Challenger - a hard sail wind power propulsion system - this week made the maiden port of call in Newcastle, Australia. Japanese shipping giant Mitsui O.S.K. Lines (MOL) held a ceremony on October 24 to mark the occasion. "The Australian government has set a decarbonization policy to achieve net zero emissions by 2050, and local port officials in Newcastle have high expectations and interest in the Shofu Maru…
MOL Opts to Equip Second Bulk Carrier with Hard Sail
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.
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…
MOL, Tohoku Trial Hard Sail on a Coal Carrier
Mitsui O.S.K. Lines (MOL) and Tohoku Electric Power have announced that they intend to move ahead with a joint study to install the Wind Challenger telescopic hard…
MOL Gets AIP for Wind Challenger Design
Japan’s shipping major Mitsui O.S.K. Lines and Oshima Shipbuilding have jointly obtained Approval in Principle (AIP) from Nippon Kaiji Kyokai (ClassNK) for the…
MOL Works on Environmental Agenda
Japanese shipping giant Mitsui O.S.K. Lines (MOL) formulated MOL Group Environmental Vision 2030 to present our cutting-edge initiatives for environmental preservation."Shpping…
MOL Blue Ocean Environmental Bonds will be Japan's 1st Green Bonds
Mitsui O.S.K. Lines (MOL) announced a plan to issue green bonds (its 20th and 21st series unsecured corporate bonds) through a public offering in Japan's domestic market.