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December 10, 2013

MOL, WFS Sign Deal to Build, Charter Methanol Carrier
- World's First Dual-Fuel Engine Uses Methanol and Heavy Oil -

TOKYO-Mitsui O.S.K. Lines, Ltd. (MOL; President: Koichi Muto) today announced the signing of a contract with Waterfront Shipping Company Limited(*1) (WFS; President: Jone Hognestad) to build and charter up to three methanol carriers. The vessels will be equipped with the world's first flex-fuel engines running on methanol, fuel oil, marine oil, or gas oil.

The engines will be produced by Mitsui Engineering & Shipbuilding Co., Ltd. (MES; President Takao Tanaka), and the vessels will be built at Minaminippon Shipbuilding Co., Ltd. (President: Kotaro Ikebe) and engaged in methanol transport for WFS after delivery in 2016.

Methanol, drawing considerable attention, is an environmental friendly fuel which contains zero sulfur and enables zero Sox emission. In addition to the usage of Methanol as fuel, the vessels will be superior in environmental performance, being equipped with a ballast water treatment system ahead of regulations (*2), and energy-saving devices installed in front and rear of the propellers improving fuel efficiency.

MOL continually expands methanol transport services to meet the needs of a wide variety of customers, by leveraging our accumulated experience and know-how as one of the world's largest methanol carriers.

In addition, MOL strives utmost efforts to prevent air pollution as part of its environmental strategies, while taking a proactive stance on introducing various technologies that contribute to reducing the burden on the environment.

(*1) About WFS
A wholly-owned subsidiary of the world's largest methanol supplier, Methanex Corporation (President: John Floren). Methanex produces 7.5 million tons of the approximately 60 million tons of methanol produced worldwide (2012). WFS is engaged in ocean transport of Methanex-produced methanol.

(*2) Ballast water treatment system
Ballast water discharged while loading/discharging cargo may carry invasive marine organisms around the world, which could have a negative impact on local marine ecosystems and biodiversity. This has been a subject of global concern since the late 1980s. Accordingly, the International Maritime Organization (IMO) adopted the Ballast Water Management Convention in February 2004.
MOL sets "contribution to conservation of biodiversity" as one of its environmental strategic targets, and is also preparing to ensure smooth compliance to the convention. Ratification of the convention is now under way.

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