MOL to Join Port of Newcastle's Clean Energy Precinct Construction Project in Australia
- Cooperating in Ocean Transport of 'Green Hydrogen and Ammonia' -

July 13, 2023

TOKYO-Mitsui O.S.K. Lines, Ltd. (MOL; President & CEO: Takeshi Hashimoto) today announced that MOL representative has attended the reception on July 12th hosted by Port of Newcastle (PoN), in presence of Australia’s Minster of Climate Change and Energy, Mr. Chris Bowen, to introduce the partner of the Clean Energy Precinct construction project (Note 1) led by PoN as the project has become in full operation. PoN is responsible for port management and development in Newcastle, New South Wales, Australia, the world’s largest coal exporting port.

In February of this year, MOL concluded a memorandum of understanding (MoU) with PoN to jointly study the construction of this area and the establishment of a supply chain. As the project has become full operation from this May (Note 2), MOL has started the joint study with PoN mainly in ocean transport and bunkering of clean energy in the region. The project will receive A$100 million (about ¥9.5 billion) in funding from the Australian federal government to build a Clean Energy Precinct site in the port area that will serve as a major center for the production, storage, and export of clean energy, including green hydrogen and ammonia, and promote a decarbonized society and the creation of local jobs.

The PoN is a geographically important port hub, with more than 300 MOL-operated vessels calling there each year. The MOL Group has positioned environmental strategy as a key element in its  "BLUE ACTION 2035" management plan, and has set the target of achieving net zero greenhouse gas (GHG) emissions by 2050 in the "MOL Group Environmental Vision 2.2." It will contribute to establish the clean energy supply chain through participation in this project at the PoN. In addition, the group is committed to engaging in the clean energy business by leveraging its collective strengths, aiming to proactively respond to major shifts in energy supply and contribute to the reduction of greenhouse gas (GHG) emissions not only from its own company but also from society at large.

(Note 1) For details, please refer to the following PoN press release.
July 12,2023 Minister unveils clean energy partnerships to drive Port of Newcastle into the future - Port of Newcastle

(Note 2) For details, please refer to the following PoN press release.
May 3, 2023: Clean energy enabled Port of the future unveiled in Newcastle - Port of Newcastle

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 especially to the realization of "Safety & Value -Provide added value through safe transportation and our social infrastructure business-", "Environment -Conservation for Marine and global environment-," "Human & Community -Contributing to the growth and development of people and communities-," and Innovation -Innovation for development in marine technology-."