MOL to Start Sea Trials of Panamax Bulk Carrier Powered by Biofuel

June 10, 2022

TOKYO-Mitsui O.S.K. Lines, Ltd. (MOL; President & CEO: Takeshi Hashimoto) today announced that its group company, MOL Drybulk Ltd. (Representative Director, President: Kazuhiko Kikuchi) will start sea trials of Panamax bulk carrier "C.S. OLIVE", chartered from Chugoku Sougyo CO., Ltd. (Chugoku Sougyo; President & CEO: Hiroshi Takata), using biofuel in late June 2022.

MOL has signed a deal for biofuel supply with Chevron Singapore Pte. Ltd., and about 500 tons of ISCC (International Sustainability & Carbon Certification) certified biofuel will be bunkered on the vessel at Port of Singapore. The biofuel supplied by Chevron Singapore is blended with Used Cooking Oil Methyl Ester as a 20% to 24% component in the VLSFO. This biofuel can be used on vessels without changing engine specifications and is expected to decrease approximately 15% to 20% of exhausted CO₂ based on lifecycle analysis.

Biofuel is positioned as an effective alternative to fossil fuels in the MOL Group's new environmental strategy 'MOL Group Environmental Vision 2.1', which was announced in June, 2021. MOL Group continually takes a proactive stance in promoting the Adoption of Clean Alternative Fuels (Image 1) such as biofuel with the aim of reducing greenhouse gas emissions in ocean transport.

[MOL’s five Sustainability Issues]
MOL Group will contribute to realize a sustainable society by promoting responses to the sustainability issues, which are identified as social issues that must be addressed with priority through the business.
We anticipate this initiative to contribute especially to the realization of "Environment -Conservation for Marine and global environment-".

(Image 1)