MOL Takes Delivery of Methanol-fueled Methanol Carrier Cypress Sun

January 19, 2023

TOKYO-Mitsui O.S.K. Lines, Ltd. (MOL; President & CEO: Takeshi Hashimoto) today announced that on January 17, a ceremony for the naming and delivery of the Cypress Sun, a dual-fuel methanol carrier that can run on either methanol or conventional heavy fuel oil, was held at Hyundai Mipo Dockyard (CEO & President: H.K. Kim; Headquarters: Ulsan, South Korea). The vessel will be chartered by MOL from Osaka Shipping Co., Ltd. (President: Morio Kotani; Headquarters: Osaka City, Osaka) and Waterfront Shipping Company Limited (WFS; President: Paul Hexter; Headquarters: Vancouver, Canada) will charter the vessel from MOL under a long-term contract.

The vessel is a sister ship to the Capilano Sun (Note), which was delivered in 2021 and also chartered by MOL to WFS.

Methanol fuel can reduce sulfur oxide (SOx) emissions by up to 99%, particulate matter (PM) emissions by up to 95%, nitrogen oxide (NOx) emissions by up to 80%, and carbon dioxide (CO₂) emissions by up to 15% in comparison to burning conventional marine fuel.
In the future, net CO₂ emissions can be reduced by using methanol fuels derived from non-fossil raw materials-such as e-methanol produced by synthesizing CO₂ recovered from various emission sources & hydrogen produced using renewable energy, and biogas-derived biomethanol.

MOL operates one of the world's largest fleets of methanol carriers, with a total of 19, (including the Cypress Sun), and it has been expanding the number of dual-fuel vessels, which can run on methanol, since 2016. Currently, MOL operates five of the 23 methanol dual-fuel tankers in service worldwide, including the Cypress Sun.

The MOL Group is committed to addressing environmental issues in accordance with the "MOL Group Environmental Vision 2.1.," and it will leverage the experience and expertise the group has accumulated over the years to provide a wide range of services to customers, and work to further expand methanol transportation services. The group also will contribute to the global environmental protection by achieving net-zero emissions.

Cypress Sun Specifications

(Note) Please refer to the following related press release.
- December 5, 2021:
Delivery of Methanol-Duel Fueled Methanol Carrier "Capilano Sun" -Innovative Low-emission Vessel Can Adjust Combustion Temperature To Reduce NOx by Mixing Water into Methanol Fuel-

[MOL Group 5 Sustainability Issues]
MOL Group will contribute to realizing a sustainable society by promoting responses to sustainability issues, which are identified as social issues that must be addressed as priorities through its business.
We anticipate this initiative to contribute to the realization of "Safety & Value -Provide added value through safe transportation and our social infrastructure business-," "Environment -Conservation for marine and global environment-" and "Innovation -Innovation for development in marine technology-."