Mitsui OSK Lines (MOL) has ordered four 7,000-ceu LNG-fuelled car carriers in Japan as part of a plan to shift its fleet to alternative fuels.
MOL said the ships will be constructed at Shin Kurushima Dockyard and Nihon Shipyard, a joint venture between Imabari Shipbuilding and Japan Marine United.
Delivery of the ships will begin in 2024. MOL did not disclose the contract price for the newbuildings.
MOL said the ships would eliminate SOx emissions, reduce carbon emissions by between 25% and 30%, and cut NOx emissions by 85%.
MOL is targeting net-zero carbon emissions by 2050. It plans to launch 90 new LNG-fuelled vessels by 2030. MOL said it is also exploring the use of other alternative low-carbon fuels.
“MOL is accelerating its preparations for the launch of environment-friendly vessels using not only LNG fuel but also biofuels, which are reaching the practical application stage, while continuing to research the use of ammonia and other next-generation fuels,” the company said in a statement.
Japan's big-three shipping companies are increasingly shifting over to LNG as a fuel. NYK Line recently announced plans to build 12 LNG-fuelled car carriers.
MOL, NYK Line and K Line also recently ordered one LNG-fuelled 210,000-dwt newcastlemax bulk carrier each at Nihon Shipyard under a long-term charter contract with JFE Steel.
MOL is in a strong position to invest in new tonnage after earning big profits from its liner subsidiary Ocean Network Express (ONE).
TradeWinds earlier reported MOL is forecasting a full-year profit of more than $3bn in the current financial year.
MOL said clean energy transportation will be a key part of its car carrier business.
“MOL will make further efforts with the aim of becoming the company of choice for various stakeholders, by delivering a new value zero-emission transport of cars,“ the company said.
