MOL to Start Joint Development for the digitalization of FSRU

February 26, 2020

TOKYO-Mitsui O.S.K. Lines, Ltd. (MOL; President & CEO: Junichiro Ikeda) announced that it has reached an agreement for joint development of technologies and solutions for the digitalization of Floating Storage and Regasification Unit (FSRU) (Note 1), in partnership with Daewoo Shipbuilding & Marine Engineering (DSME; CEO: Sung-Geun Lee).

Through this collaboration, detailed operational data will be collected from FSRU and stored in a cloud-based data platform to develop applications for advanced remote operation monitoring and optimizing etc.. The project will enhance safe and efficient operation, which will further deepen cooperation between FSRU and shore-based facilities.

MOL works on this collaboration in cooperation with MOL's "FOCUS" Project (Note 2) intended to enhance the collection and application of FSRU operation data.

(Note 1)
Floating Storage Regasification Unit. A floating facility for storing and regasifying LNG, which is then pressurized and piped ashore.

(Note 2)
Please refer to the following press releases:
October 15, 2018 press release: Launching of the "FOCUS" Project - Collaborative Innovation Transcending Business Categories; ICT-based, Data-driven Project Aims at Safer Operation and Cleaner Environment
May 21, 2019 press release: MOL Announces Release of FOCUS Project Part I 'Fleet Viewer' Application Aimed at Enhancing Ship Management - Stress-free Operation with Big Data Analysis -
February 21, 2020 press release: Release of FOCUS Project Part II 'Fleet Performance' Application Aimed at Monitoring Fleet Performance in Actual Operation -Stress-free Operation with Big Data Analysis-

MOL's Activities

MOL has moved ahead with advanced support of safe operation and reduction of its environmental impact, as set out in the "ISHIN NEXT - MOL SMART SHIP PROJECT -," which started in November 2016, and aims to become customers' first choice as a logistics partner by applying ICT technology to improve service quality and efficiency.

In MOL's management plan, "Rolling Plan 2019", MOL has positioned its Offshore Business as a field where MOL can leverage its strengths. FSRUs are drawing attention as a solution for flexibility and mobility in both the LNG and Electricity supply chain. MOL will promote the FSRU business and its associated services, which meets customer needs for diversified energy procurement and SDGs achievement (i.e., environmental condition and stable development), as the leading company of FSRU business in Asia.