MOL to procure new Panamax bulker to transport woody biomass

Mitsui O.S.K. Lines Ltd. (MOL) announced on May 24 plans to procure a newly built Panamax bulker to transport wood biomass for energy. The company said the planned procurement reflects increased demand for biomass fuels by Japanese power companies.

The vessel will comply with phase three of the Energy Efficiency Design Index, which sets emissions reductions requirements for newbuilding vessels. The phase three requirements, which apply to ships that start construction in 2022-2025, must reduce carbon dioxide emissions by 30-50 percent when compared to phase zero. MOL said the vessel’s specifications also call for reinforced mooring equipment and a wide-opening hatch design to boost the efficiency of cargo handling. The vessel is slated for delivery at Oshima Shipbuilding Co. Ltd. in 2023.

The MOL Power Solution & Carbon Project Division is in charge of the business operation for the newbuilding vessel, provision of transport plans, and ship operation. The division was established this April to meet diversified needs of customers, including Japanese power companies, and offer solutions for decarbonization in addition to transporting conventional fuels.

A full copy of MOL’s announcement is available on the company’s website.