Mitsui O.S.K. Lines, Ltd. (MOL) announced that the company, along with ITOCHU Corporation (ITOCHU, President & COO: Keita Ishii; Headquarters: Minato-ku, Tokyo) acquired Approval in Principle (AIP) from the American Bureau of Shipping regarding an ammonia bunkering vessel.
The project is part of a joint development study on ammonia fuel supply chain in Singapore (Note 1). MOL, which already has acquired experience and knowledge of LNG bunkering vessels, will play a leading role in this project together with its partners in the LNG bunkering business in Singapore-TotalEnergies Marine Fuels Pte. Ltd. and Pavilion Energy Singapore Pte. Ltd.
MOL and ITOCHU jointly designed the ammonia bunkering vessel in cooperation with Sembcorp Marine Integrated Yard Pte. Ltd., and after conducting a risk assessment (Hazard Identification Study: HAZID) (Note 2) with the partners in Singapore, applied for and received the AIP. The vessel's design incorporates extensive safety measures in consideration of ammonia's toxicity.
Marine engine manufacturers around the world are working to develop an ammonia-fueled engine. Delivery of the first ammonia-fueled vessel is expected in the late 2020s at the earliest. The ammonia bunkering vessel, which we jointly developed, will supply these next-generation-fueled vessels.
Ammonia is in the spotlight as a promising next-generation clean energy source that produces no carbon dioxide (CO2) during combustion. MOL is working to develop ammonia-fueled vessels and create an ammonia transport business, in the hopes of launching net zero emission ocean-going vessels during the current decade and achieving net zero greenhouse gas (GHG) emissions by 2050, (Note 3) as stated in the "MOL Group Environmental Vision 2.1." (Note 4) At the same time, MOL will contribute to the reduction of GHG emissions not only in our group business but also in society through initiatives such as the development of an ammonia fuel bunkering vessel that supplies ammonia fuel to other vessels and establishing an ammonia supply chain (Note 5).