Mitsui O.S.K. Lines, Ltd. (MOL) has taken a significant step towards environmental sustainability in maritime transportation. Today, the company announced the signing of a time charter contract for two liquefied petroleum gas (LPG) dual-fuel very large gas carriers (VLGCs) with a subsidiary of TotalEnergies, CSSA Chartering and Shipping Services SA (CSSA).
The vessels, which are set for delivery in 2026, will be constructed by Hyundai Samho Heavy Industries Co., Ltd. in South Korea. These dual-fuel vessels represent a pioneering shift towards cleaner energy in maritime operations. With the capability to run on either LPG or conventional heavy oil, they offer a substantial reduction in emissions compared to traditional vessels. Specifically, CO2 emissions can be slashed by approximately 20%, while sulfur oxides (SOx), particulate matter (PM), and other pollutants can be reduced by up to 90% when utilizing LPG as fuel.
Moreover, these vessels boast specifications enabling the transport of ammonia alongside LPG. Ammonia, recognized for emitting zero carbon dioxide during combustion, holds promise as a next-generation clean energy source, aligning with global efforts to combat climate change.
This contract further solidifies the longstanding partnership between MOL and TotalEnergies. MOL has collaborated with TotalEnergies across various domains, from marine fuel oil transportation to long-term charter contracts for LNG carriers and LNG bunkering vessels. Through this latest agreement, both entities aim to strengthen their collaboration and advance shared environmental objectives.
MOL’s commitment to environmental stewardship is underscored by its strategic initiatives outlined in the “BLUE ACTION 2035” management plan. As part of the “MOL Group Environmental Vision 2.2,” the company has set ambitious targets, including achieving net-zero greenhouse gas (GHG) emissions by 2050. This charter contract aligns seamlessly with MOL’s overarching goal of sustainability, reflecting its dedication to reducing carbon footprint and fostering a greener maritime industry.
