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MOL Drybulk and Kambara Kisen agree bulk carrier deal

MOL Drybulk and Kambara Kisen agree bulk carrier deal
An artist's rendering of the planned 65,700 DWT methanol-dual fuel dry bulk carrier (image courtesy MOL).

In Japan, shipping major Mitsui O.S.K. Lines, Ltd (MOL) has announced that its subsidiary MOL Drybulk Ltd (MOLDB) and compatriot Kambara Kisen Co., Ltd have signed a basic agreement on time charter for a newbuild methanol dual-fuel bulk carrier to be ordered and owned by Kambara Kisen.

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To be built by Tsuneishi Shipbuilding Co. Ltd, the vessel is designed to use e-methanol produced primarily by synthesizing recovered carbon dioxide (CO2) and hydrogen (H2) produced using renewable energy sources, and bio-methanol derived from biogas.

The use of methanol derived from non-fossil raw materials significantly reduces greenhouse gas (GHG) emissions, compared to heavy oil (HFO) powered and similar-size vessels.

Transport biomass and grain

The vessel’s design maximizes cargo space while ensuring sufficient methanol tank capacity set to allow the required navigational distance assuming various routes, at the same time maximizing cargo space.

Slated to be delivered in 2027, the vessel is expected to serve mainly in the transport of biomass fuels from the east coast of North America to Europe and the United Kingdom (UK), and within the Pacific region, as well as grain from the east coast of South America and the US Gulf Coast to Europe and the Far East.

Aligned with environmental ambitions

MOL has established the “MOL Group Environmental Vision 2.2” and set the goal of achieving net zero greenhouse gas (GHG) emissions by 2050.

One of the key strategies to achieve this goal includes the “adoption of clean alternative fuels,” and MOL aims to have 90 LNG/methanol-fueled vessels in service by 2030.

In addition, with growing worldwide interest in methanol fuel as a promising clean energy source, MOL will promote its initiatives to secure the necessary capacity.

This includes future methanol-dual fuel vessels and procurement of low and decarbonized methanol fuel.

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