MOL Teams Up with Rio Tinto for Decarbonization of Maritime Transportation

Mitsui O.S.K. Lines, Ltd. (MOL) and Rio Tinto have signed the partnership agreement to enhance collaboration on both safety and crew welfare initiative and decarbonization of maritime transportation.

MOL and Rio Tinto have agreed to further collaborate on shipping decarbonization in addition to the existing commitment to the DOO program through a deal signed on January 24, 2024.

The DOO program is a Rio Tinto initiative aimed at enhancing safety and improving crew welfare in the dry bulk industry.

Rio Tinto is a mining and metals company and largest dry bulk shipper in the world.

MOL Group has positioned environmental strategy as a key element of its ‘BLUE ACTION 2035’ management plan, and set the target of achieving net zero greenhouse gas (GHG) emissions by 2050 through strategies like adopting clean fuels to vessels and more efficient operations.

“With Rio Tinto, we will focus on improving operational and technical efficiency, as well as seeking potential collaboration in alternative shipping fuels by leveraging each other's expertise.

“MOL and Rio Tinto will continue to work together on lowering GHG emissions for the ocean transportation of resources while ensuring the safety of our operations,” MOL said in a statement.