Japanese shipping firm Mitsui OSK Line (Mol) is diversifying its alternative marine fuel options, accelerating the company's effort to achieve its net zero Scope 1, 2 and 3 emissions goal by 2050.
Mol updated its environmental strategy last week, with its fuel transition pathway towards 2050 driven by a variety of marine fuel options, including LNG, biodiesel, methane, methanol, ammonia, hydrogen and wind power. Methane and methanol cover fuels produced from carbon dioxide and renewable-sourced hydrogen, as well as biomass.
Mol plans to deploy 90 of LNG and methanol-fuelled vessels by 2030, advancing fuel shifting from conventional bunker fuel, before non-fossil fuels, such as ammonia, hydrogen and synthetic fuels, are expanded as marine fuels. The company currently has 16 LNG-powered ocean-going ships, which include those under construction, while it operates five methanol-fuelled vessels.
Mol is also seeking 5pc use of zero-emission marine fuels, such as clean ammonia, synthetic methanol and synthetic LNG, by 2030, and aims to operate 130 ocean-going vessels that run on zero-emission fuels by 2035.
The first net zero ocean-going vessel, which burns ammonia as a bunker fuel, is likely to be launched in 2026. Mol has already obtained in-principle approval for an ammonia-fuelled Capsize bulk carrier and a liquefied gas carrier.
Mol's wind propulsion system, known as a wind challenger, will also contribute to the company's greenhouse gas (GHG) emission reduction plans. Mol to increase the number of ships equipped with the system to 25 by 2030, and to 80 by 2035. The first ship has already been launched in October last year for Japanese utility Tohoku Electric Power to transport coal.
The company plans to achieve net zero by 2050, by cutting 70pc of GHG emissions with alternative marine fuels, and 20pc with the wind-powered ships. The remainder 10pc is planned to be offset by joining negative emissions projects.
Japanese shipowners are accelerating the launch of new vessels to reduce GHG emissions from their ocean vessel fleets. Fellow shipping company Nippon Yusen Kaisha plans to commission 45 ships — 31 LNG-fuelled, three ammonia-powered, eight LPG-fuelled and three methanol-powered fleets — to reduce scope 1 emissions during April 2023-March 2031.
