New Beginning for Vessels Powered by Next-Generation Fuels as Group Moves toward Net-zero Emissions by 2050

Mitsui O.S.K. Lines, Ltd. (MOL, President & CEO: Jotaro Tamura, Headquarters: Minato-ku, Tokyo) announced that on October 29, MOL held a joint naming ceremony at CSSC Qingdao Beihai Shipbuilding Co., Ltd., part of China State Shipbuilding Corporation (CSSC), for the world's first three ammonia-fueled Capesize bulk carriers, which are being jointly developed with the Belgian shipping group CMB.TECH NV. Upon their scheduled delivery starting around early 2027, they will be jointly owned by MOL and CMB.TECH. MOL plans to operate the vessels under long-term charter contracts.

With CMB.TECH CEO Alexander Saverys and MOL Managing Executive Officer Kazuhiro Takahashi on hand for the ceremony, along with numerous stakeholders, the three vessels were respectively named the RURI MIRAI, RURI SEKAI, and RURI HIKARI.

As a co-owner and charterer of these vessels, MOL is working closely with internal and external stakeholders to formulate safe operating procedures and develop and establish comprehensive safety measures. These vessels will form MOL's first net-zero-emission fleet.

Because ammonia does not emit CO2 during combustion, it is attracting attention as one of the next-generation fuels expected to support the decarbonization of the shipping industry. These vessels represent an important milestone toward achieving net-zero emissions.

Environmental strategy is a key element of the MOL Group's management plan, "BLUE ACTION 2035." In the "MOL Group Environmental Vision - BLUE ACTION 2035 Phase 2," the group aims to begin operating net-zero-emission ocean-going vessels in the 2020s and achieve net-zero emissions by 2050. By providing safe, high-quality transport services using ammonia-fueled vessels, the MOL Group will promote the wider adoption of ammonia fuel and contribute to the realization of a sustainable society.

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