Mitsui O.S.K. Lines, Ltd. (MOL) announced that its group company, MOL Drybulk Ltd. will start sea trials of the Panamax bulk carrier C.S. Olive, chartered from Chugoku Sougyo, using biofuel in late June 2022.
MOL signed a deal for biofuel supply with Chevron Singapore. About 500 tons of ISCC (International Sustainability & Carbon Certification)-certified biofuel will be bunkered on the vessel at Port of Singapore. The fuel supplied by Chevron Singapore will blend Used Cooking Oil Methyl Ester as a 20% to 24% component in the Very Low Sulfur Fuel Oil (VLSFO) used onboard the ship.
This biofuel can be used on vessels without changing engine specifications and is expected to decrease CO2 emissions by approximately 15% to 20% based 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 in June 2021.