MOL Signs Comprehensive MoU with Maritime and Port Authority of Singapore

November 26, 2024

TOKYO-Mitsui O.S.K. Lines, Ltd. (MOL; President & CEO: Takeshi Hashimoto) today announced that on November 26, it signed a comprehensive memorandum of understanding (MoU) with the Maritime and Port Authority of Singapore (MPA) (Note 1) to deepen cooperation in the fields of decarbonization, digitalisation, and human resources development. MOL and MPA have been cooperating in various initiatives to decarbonize the maritime industry, the new agreement will further promote these initiatives in a wide range of fields.

MPA Chief Executive Teo Eng Dih said: "This MoU reaffirms MPA and MOL's longstanding collaboration. As a maritime hub port, supported by our innovation and research ecosystem, MPA is working closely with industry and tripartite partners to support digitalisation, cybersecurity, decarbonisation and manpower capabilities. We look forward to MOL's expansion of activities, tapping on both our experience and expertise, to develop scalable solutions for the Singapore-Japan Green and Digital Shipping Corridor and the wider maritime community."

MOL President & CEO Takeshi Hashimoto commented: "We have been focusing on the fields of decarbonization, digitalisation, and human resources development, which we have decided to deepen cooperation with MPA this time. MPA is committed to working hard to create a sustainable maritime industry in Singapore, the hub of the maritime industry. We pay our respect to MPA for its enthusiasm and energy. The fields of bilateral cooperation are also a challenge for the maritime industry as a whole, and I hope we can increase the feasibility by working together as like-minded people. We are confident that the establishment of this comprehensive cooperative relationship will contribute to the maritime industry in general."

Specifically, the scope of the MoU covers the following:

• Collaboration in the field of decarbonization in the maritime industry in general.
  Mutual collaboration to establish a supply system for next-generation fuel sources such as methanol, ammonia, and hydrogen. The collaboration will also include study on the use of wind technology.
• Digitalization and maritime innovation.
  Improving voyage management and efficiency of transport operations through digitalization, including development of cybersecurity, collaboration on autonomous vessel trials, and nurturing marine innovation ecosystem that emphasizes collaboration with local startups.
• Joint development of maritime human resources.
  Grow and enhance manpower capabilities, including grooming seafarers and shore-based workforce.

MOL will continue its group-wide concerted effort, in close cooperation with MPA and other major maritime sectors, to achieve sustainable GHG net-zero emissions and contribute to the realization of a decarbonized society.

＜Recent cooperation with MPA＞

• MOL participates in the Green & Digital Shipping Corridors (GDSC)
  The MPA is building strong partnerships with national port stakeholders to accelerate decarbonization in the maritime industry, with the goal of promoting the development and broad adoption of next-generation fuels and technologies. MOL joined this MPA-led corridor and participated in discussions among major maritime organizations in both public and private sectors and across borders.
• MOL participates in the Maritime Energy Training Facility (METF)
  In September 2024, MOL joined MPA's initiative to promote training for seafarers involved in next-generation fuel transport.
  This aims to provide a new facility that will offer more seafarers with training to handle next-generation fuels such as ammonia, which reduces carbon emissions.

(Note 1) The Maritime and Port Authority of Singapore (MPA) was established in 1996 to develop Singapore as a global hub port and international maritime centre and to advance and safeguard Singapore's strategic maritime interests. MPA serves as the port authority, planner and national maritime representative for the country's port and marine development. It promotes port safety, environmental protection, and the growth of the maritime industry; expands maritime clusters; promotes research and development and human resources development, and champions digitalisation and decarbonisation efforts at regional and international for a such as the International Maritime Organization.
Website: https://www.mpa.gov.sg

---

MOL Group 5 Sustainability Issues
MOL Group identifies "Sustainability Issues" (Materiality) as our key issues for sustainable growth with society through realization of the Group Vision.
We anticipate this initiative to contribute especially to the realization of "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-."