MOL orders LNG-fuelled bulker at Oshima
Japanese shipping heavyweight Mitsui O.S.K. Lines (MOL) has revealed plans to build a dual-fuelled bulk carrier at Oshima Shipbuilding that will be intended for charter with Kansai Electric Power Co.
The LNG dual-fuel bulker is intended to transport coal to KEPCO’s Maizuru Power Station from overseas, in addition to an ongoing contract, under the terms of the basic agreement the duo signed recently.
By opting for LNG propulsion MOL expects to cut CO2 emissions by about 25% and NOX emissions by 85% respectively, and eliminate sulfur oxide (SOx) emissions in comparison to burning conventional marine fuel. The company said that LNG made sense due to its maturity level in terms of availability and widespread use.
The 94,900 dwt bulker is slated for delivery in the second half of 2026.
LNG is at the centre of MOL’s decarbonization strategy and the latest contract brings the company’s ordering tally to 17 ocean-going LNG-fuelled vessels. These include Capesize bulkers, VLCCs, car carriers, and six coastal vessels (ferries, a tugboat, and a coastal cargo vessel.)
The group said that it wants to further expand the introduction of LNG-fuelled vessels as an initiative that can be taken immediately, and accelerate its efforts to reduce total GHG emissions. The aim is to have 90 LNG/methanol-fuelled vessels by 2030.
MOL’s decarbonization vision includes the adoption of LNG-fuelled vessels as a transition toward the aim of becoming net zero by 2050. The company expects that ammonia and hydrogen as fuel would be widely available for its ships in 2035 and that it would be able to shift from LNG to synthetic methane by 2050.