TOKYO—Mitsui & Co., Ltd. (Mitsui; President & CEO: Kenichi Hori; Headquarters: Chiyoda-ku, Tokyo) and Mitsui O.S.K. Lines, Ltd. (MOL; President & CEO: Takeshi Hashimoto; Headquarters: Minato-ku, Tokyo)today announced that they have received Approval in Principle (AiP) from the Nippon Kaiji Kyokai (ClassNK; Chairman: Hiroaki Sakashita, Headquarters: Chiyoda-ku, Tokyo) for the design of a large ammonia-powered bulk carrier.
Mitsui and MOL jointly determined the size and specifications of the vessel, and both companies entrusted Mitsubishi Shipbuilding Co., Ltd. for design of the vessel. The AiP covers a "210,000 DWT Cape size" bulker, a highly versatile class of ship.
The design calls for a main engine fueled by ammonia, which emits no CO2 when burned, thereby achieving zero CO2 emissions during the voyage. The vessel will also feature two ammonia fuel tanks on deck to maximize the cruising range for various routes and to make the most effective use of cargo space. Furthermore, ClassNK is scheduled to conduct a risk assessment (HAZID; Hazard Identification Study Note) to confirm that no unacceptable risks exist at the basic design stage and to identify items to be considered in the detailed design, which will incorporate safety measures fully taking into account the toxicity of ammonia, and other factors.
Amid the trend toward decarbonization, global interest in ammonia as a next-generation clean energy source is growing, and the maritime industry is accelerating its efforts to strategically utilize it as a fuel. As expectations for ammonia as a marine fuel increase, Mitsui and MOL will promote the expansion of net-zero emission ocean-going vessels and play a role in society's overall efforts to achieve decarbonization.
(Note) HAZID (Hazard Identification Study): A risk assessment and management method in which experts discuss the magnitude and frequency of potential system hazards to ensure that the system as a whole is sufficiently safe.
“Build brighter futures, everywhere” as our corporate mission, and to gain the trust and expectations of our stakeholders to realize a better tomorrow for earth and for people around the world, we have identified five material issues (“Materiality”) for Mitsui’s sustainable growth. We anticipate this particular project/ business to contribute especially to the realization of “Secure sustainable supply of essential products” and “Enhance quality of life” and “Create an eco-friendly society”
Secure sustainable supply of essential products
Enhance quality of life
Create an eco-friendly society
Develop talent leading to value creation
Build an organization with integrity