Mitsui O.S.K. Lines, Ltd. (MOL) recently announced that its group company, MOL Drybulk Ltd. will start sea trials of Panamax bulk carrier “C.S. OLIVE”, chartered from Chugoku Sougyo CO., Ltd, using biofuel in late June 2022.
MOL has signed a deal for biofuel supply with Chevron Singapore Pte. Ltd., and about 500tons of ISCC (International Sustainability & Carbon Certification) certified biofuel will be bunkered on the vessel at Port of Singapore. The biofuel supplied by Chevron Singapore is blended with Used Cooking Oil Methyl Esteras a 20% to 24% component in theVLSFO. This biofuel can be used on vessels without changing engine specifications and is expected to decrease approximately15% to 20% of exhausted CO2based on lifecycle analysis.
Biofuel is positioned as an effective alternative to fossil fuels in the MOL Group's new environmental strategy 'MOL Group Environmental Vision 2.1', which was announced inJune, 2021. MOL Group continually takes a proactive stance in promoting the Adoption of Clean Alternative Fuels(Image 1) such as biofuel with the aim of reducing greenhouse gas emissions in ocean transport.