MOL to Expand Fleet With 5 New LNG-fueled Capesize Bulkers
Japanese shipping major Mitsui O.S.K. Lines (MOL) has decided to expand its fleet with the additional five newbuilding dual-fueled Capesize bulkers, which can burn either LNG or conventional marine fuel oil.
Two of the vessels will be ordered to Nihon Shipyard and built by Imabari Shipbuilding, while there remaining three will be built by Chinese CSSC Qingdao Beihai Shipbuilding.
The vessels are slated for delivery from 2026 to 2027, according to MOL. Including these five vessels, MOL will add a total of 13 LNG-fueled Capesize bulkers in their fleet.
Among them, MOL has been operating one vessel since March 2023 and has supplied LNG fuel to it.
“Compared to conventional marine fuel oil, LNG is expected to reduce emissions of carbon dioxide (CO2) which is a greenhouse gas (GHG), by about 25%, sulfur oxide (SOx) by 100%, and nitrogen oxide (NOx) by about 85%. It also has a proven track record of being used as marine fuel,” MOL said in a statement.
The MOL Group has set the target of achieving net zero greenhouse gas (GHG) emissions by 2050. It has been expanding its LNG-fueled fleet, with car carriers, bulk carriers, tankers, ferries, and tugboats.
The group also added it will further expand the adoption of LNG-fueled vessels as an initiative that it can take immediately, and accelerate its efforts to reduce total GHG emissions.