MOL to Build 4 Additional LNG-fueled Car Carriers

Progressing towards '90 LNG-fueled Vessels by 2030'

Tokyo - May 09, 2022

Mitsui O.S.K. Lines, Ltd. (MOL; President & CEO: Takeshi Hashimoto) today announced that it reached an agreement with Nihon Shipyard Co., Ltd. (President: Yoshinori Maeta; Headquarters: Chiyoda-ku, Tokyo) and Shin Kurushima Dockyard Co., Ltd. (President: Tetsushi Soga; Headquarters: Imabari-shi, Ehime Prefecture) to build four 7,000-unit capacity car carriers that will use environment-friendly liquefied natural gas (LNG) as their main fuel. The vessels are the second series following four LNG-fueled car carriers, which are slated for delivery in 2024 (Note 1). The newly ordered ships are scheduled for delivery in succession, through 2024 to 2025. This will bring the company's total orders for LNG-fueled car carriers to eight. Compared to conventional marine fuel oil, LNG is expected to reduce emissions of carbon dioxide (CO2) which is a greenhouse gas (GHG), by about 25%-30% and sulfur oxide (SOx) by 100%.

In June 2021, MOL established "MOL Group Environmental Vision 2.1" as a guide to achieve net zero GHG emissions by 2050. The company plans to launch about 90 LNG-fueled vessels by 2030, under its strategy calling for "Adoption of Clean Alternative Fuels" (Fig.1) to achieve that target.

MOL continues to accelerate its initiatives on adoption of clean alternative fuels for vessels including the building of additional LNG-fueled car carriers, other LNG-fueled vessel projects (Note 2) in which the MOL Group has engaged, bio fuel(Note 3) and research on the use of ammonia etc., and is committed to reducing its GHG emissions.

MOL strives to become the company of choice for various stakeholders by delivering new value, specifically, zero-emission transport of completed cars.

(Fig. 1)

(Note 1)

August 3, 2021 press release: MOL to Build Series of 4 LNG-fueled Car Carriers - progressing towards "90 LNG-fueled vessels by 2030" -

(Note 2)
Please refer to the following press releases related to LNG-fueled vessels.

• LNG-fueled bulkers
December 25, 2019: Kyuden signs Agreement with NYK and MOL for the World's First LNG-fueled Large Coal Carrier - Reduction of GHG Emission by implementing LNG Fuel -
July 20, 2021: MOL Signs Deal for Long-term Transport Using Newbuilding LNG-fueled Bulker
• LNG-fueled tugboat
September 28, 2020: MOL's LNG-fueled Tugboat Ishin Earns ‘Ship of the Year 2019' Award as Innovative Work Ship/Special Purpose Ship
• LNG-fueled ferries
February 17, 2022: MOL and MOL Ferry to Build 2 Cutting-edge LNG-powered Ferries - Introducing Super Eco Ferries Adopting Wind Power: Responding to Accelerating Modal Shift -
March 3, 2022: MOL Holds Naming/Launching Ceremonies for Japan's 1st LNG-fueled Ferry Sunflower Kurenai – Slated to Enter Service on Osaka-Beppu Route in January 2023

(Note 3)
Please refer to the following press releases related to the use of bio fuel on a car carrier.
June 30, 2021: MOL's Wholly Owned Euro Marine Logistics Starts Sea Trials of Car Carrier Powered by Biofuel

Mitsui O.S.K. Lines, Ltd. press release