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MOL and Kansai Electric Power Co., Inc. Sign Basic Agreement on Consecutive Voyage Charter by Newbuilding LNG-fueled Bulk Carrier
-Moving Steadily toward our KPI ; '90 LNG/Methanol-fueled Vessels' by 2030-
June 08, 2023
TOKYO-Mitsui O.S.K. Lines, Ltd. (MOL; President & CEO: Takeshi Hashimoto) today announced the signing of basic agreement with Kansai Electric Power Co., Inc. (KEPCO; President: Nozomu Mori; Headquarters: Kita-ku, Osaka) on the consecutive voyage charter dedicated to coal transportation to KEPCO's Power Station from overseas by newbuilding Dual Fueled bulk carrier, which can burn either conventional marine fuel oil or LNG. The newbuilding will be constructed at Oshima Shipbuilding Co., Ltd. (President: Eichi Hiraga; Headquarters: Saikai-shi, Nagasaki Prefecture).
The vessel will be engaged in overseas coal transportation for the Maizuru Power Station in addition to an ongoing contract, and is slated for delivery in the second half of 2026.
LNG can reduce carbon dioxide (CO2) emissions by about 25%, sulfur oxides (SOx) emissions by 100%, and nitrogen oxides (NOx) emissions by about 85% in comparison to burning conventional marine fuel. Also, LNG has been in practical use as a marine fuel for many years.
MOL Group has set the target of achieving net zero GHG emissions by 2050 in the "MOL Group Environmental Vision 2.2." MOL Group has already ordered and built LNG-fueled car carriers, bulk carriers, tankers, ferries, and a tugboat, and this newbuilding bulk carrier will be its 17th LNG-fueled ocean-going vessel. The group will further expand the introduction of LNG-fueled vessels as an initiative that can be taken immediately, and accelerate its efforts to reduce total GHG emissions.
MOL Group's Move toward LNG-fueled Vessels by Ship Type
| Ship Type | No. of vessels | Related press releases | |
|---|---|---|---|
| Ocean-going Vessels | Bulk carrier | 6 + 1 bulk carrier (this press release) |
URL URL URL |
| Car carrier | 8 | URL URL |
|
| Tanker | 2 VLCCs | URL | |
| Coastal Vessels | Tugboat | 1 (already in service) | URL |
| Ferry | 4 (incl. 2 already in service) | URL URL URL |
|
| Coastal cargo vessel | 1 (already in service) | URL | |
| Total | Ocean-going vessels: 17, Coastal vessels: 6 |
[Outline of This Newbuilding Bulk Carrier]
| LOA/Breadth | About 235m/About 38m |
| Deadweight tonnage | About 94,900 tons |
| Shipyard | Oshima Shipbuilding Co., Ltd. |
| Delivery | July 2026 (scheduled) |
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 "Environment -Conservation for Marine and global environment-".
