MOL Signs 25-Year Shipping Contract with Vale for Tri-Fuel Vessels
Cubierto por 4 fuentesPublicado
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MOL Ocean Bulk, the Capesize bulk carrier unit of Japan's Mitsui OSK Lines group based in Singapore, has signed a 25-year contract with Vale International S.A. for the transport of iron ore using two 210,000-deadweight-ton vessels. According to the company, these will be the world's first bulk carriers of this size equipped with a tri-fuel propulsion system capable of running on ethanol, methanol and conventional heavy fuel oil, with delivery scheduled for 2030.
Vessel Characteristics
Each vessel will measure 299.95 meters in length by 50 meters in breadth and will be deployed primarily for the transoceanic transport of iron ore from Brazil to global destinations, particularly China. In addition to the tri-fuel engine, the vessels will feature a design prepared for future conversion to LNG or ammonia and will incorporate energy-saving technologies available for state-of-the-art newbuildings, which, according to MOL, provides flexibility to select fuel based on availability, decarbonization benefits and economic factors.
Emissions Reduction
MOL noted that ethanol could reduce carbon emissions by up to 90% compared with heavy fuel oil when considering the full fuel life cycle, from production to consumption, based on data provided by Vale. The agreement is part of Vale's shipping decarbonization strategy and the MOL Group's 'BLUE ACTION 2035 Phase 2' environmental vision, which aims for net-zero greenhouse gas emissions by 2050 and seeks to reduce the mining company's Scope 3 emissions linked to maritime transport.
Owner and Shipyard
MOL did not initially identify the owner of the vessels or the shipyard responsible for building them. According to Splash 247, Seaspan Corporation will own both units and charter them to MOL, while Yangzijiang Shipbuilding will be responsible for constructing them, marking Seaspan's entry into the newcastlemax segment.
Part of a Broader Program
The contract adds to a series of 25-year commitments backed by Vale for tri-fuel bulk carriers, which according to Splash 247 include eight similar 210,000-ton vessels chartered to HMM starting in 2030, in addition to programs with Shandong Shipping, Polaris Shipping and Wooyang Shipping as part of the alternative-fuel iron ore carrier scheme being driven by the Brazilian mining company.
