MOL joins joint development study on ammonia fuel supply chain in Singapore
Mitsui O.S.K.Lines, Ltd. has signed a memorandum of understanding with ITOCHU Corporation, ITOCHU ENEX Co., Ltd., Vopak Terminals Singapore Pte Ltd. (VOPAK), Pavilion Energy Singapore Pte. Ltd.(PAVILION ENERGY) and Total Marine Fuels Pte Ltd.(TOTAL) regarding the joint development study on ammonia fuel supply chain in Singapore, according to MOL's release.
MOL will promote the development of off-shore facility such as floating storage unit and/or ammonia bunkering ship, and safety guidelines of ammonia bunkering together with other partners which have experience of LNG bunkering business in Singapore, by making use of its experience and expertise in building and owning LNG fuel supply vessels.
MOL will update the "Environmental Vision 2.0" by this September with the aim of achieving net zero emissions by 2050 and formulate a long-term GHG reduction roadmap for the MOL fleet. MOL will accelerate the introduction of alternative bunker fuel vessels such as LNG and ammonia as well as the investment in renewable energy businesses.
