MOL Subsidiary Adds New LPG/Ammonia Carrier to its Fleet

On April 26, 2024, Mitsui O.S.K. Lines, Ltd. (MOL; President & CEO: Takeshi Hashimoto) announced that the LPG (Liquified Petroleum Gas) dual-fuel LPG/ammonia carrier (VLGC) Aquamarine Progress II, ordered by its group company, Aramo Shipping (Singapore) Pte. Ltd. (Head office: Singapore) (A corporation in which Fuji Oil Co., Ltd (President: Shigeto Yamamoto, Head Office: Shinagawa-ku, Tokyo) and MOL have made investments via their respective subsidiaries), was delivered on April 26 by Namura Shipbuilding Co., Ltd. (President: Kensuke Namura; Head Office: Nishi-ku, Osaka). Under a time charter agreement, the Aquamarine Progress II will navigate with GYXIS Corporation, a Japanese LPG importer and distributor, led by President and Representative Director Keiji Tanaka, headquartered in Minato-ku, Tokyo.

The dual-fuel vessel has the capability to operate using either LPG or conventional heavy oil. When LPG is utilized as fuel, it leads to a reduction in CO2 emissions by approximately 20%, and significantly lowers sulfur oxides (SOx), particulate matter (PM), and other pollutants by about 90% compared to heavy oil. Moreover, the vessel's specifications enable the transportation of ammonia alongside LPG. Ammonia, known for emitting no carbon dioxide during combustion, is anticipated to witness growing demand in the future as a next-generation clean energy source.

On March 12, the naming ceremony took place at Namura Shipbuilding's Imari Works, where GYXIS President and Representative Director Keiji Tanaka christened the vessel. In collaboration with GYXIS, MOL is committed to enhancing the reliable provision of LPG to Japan through the Aquamarine Progress II's operations.

The MOL Group has identified environmental strategy as a crucial component of its "BLUE ACTION 2035" management plan, aiming to attain net-zero greenhouse gas (GHG) emissions by 2050 as outlined in the "MOL Group Environmental Vision 2.2." The group remains committed to collective efforts across the organization to accomplish this goal by 2050.

The vessel boasts an impressive outline, measuring 230 meters in length and 36.6 meters in breadth. With a cargo tank capacity of 87,119.30 cubic meters, it stands as a significant addition to maritime transport. Delivered in April 2024, this vessel represents the pinnacle of modern shipbuilding, constructed by Namura Shipbuilding Co., Ltd., renowned for its excellence in the industry. Its robust dimensions and capacity signify its capability to efficiently transport a wide range of cargo, contributing to the global logistics network. As it sets sail, it embodies the culmination of meticulous design and craftsmanship, poised to navigate the seas with reliability and efficiency.