Mitsui OSK Lines (MOL) has struck an alliance with the Nagasaki Prefecture Department of Industrial and Labour Affairs to encourage the development of renewable energy projects and shipbuilding-related industries.
Last October, the Japanese Government unveiled plans to attain carbon neutrality on a national scale by 2050.
In line with this, Nagasaki Prefecture plans to support the construction of more environment-friendly vessels and advance renewable energy using marine and wind energy.
Last June, MOL revealed the ‘MOL Group Environmental Vision 2.1’, with an aim of achieving group-wide net zero greenhouse (GHG) emissions by 2050 with five strategies.
Under the partnership agreement, the Japanese shipping firm is working with Nagasaki Prefecture to develop a renewable energy supply chain in Japan and abroad.
With this alliance, MOL aims to enhance fuel efficiency and reduce GHG emissions for its vessels.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below formBy GlobalData
The shipping company will partner with Nagasaki Prefecture in the fields of renewable energy and shipbuilding-related industries, as well as with various local entities, including Sawayama, to form a ‘value chain of maritime-related energy’.
Last month, MOL took delivery of a new dual-fuel methanol carrier, named Cypress Sun, at Hyundai Mipo Dockyard in South Korea.
The ship can operate using methanol or traditional heavy fuel.
Operated by MOL’s group company Ferry Sunflower, the vessel sails between the Sunflower Ferry Terminal in Osaka Prefecture and Beppu International Tourist Port in Oita Prefecture.