The three Japanese shipping companies, Kawasaki Kisen Kaisha, Ltd. (“K”LINE), Mitsui O.S.K. Lines, Ltd. (MOL), and Nippon Yusen Kabushiki Kaisha (NYK), have agreed to join in JSE Ocean, Ltd. (JSE Ocean), which is a subsidiary of local Suiso Energy, Ltd. (JSE).
In JSE Ocean the majority shareholder with 50.2% of stocks remains JSE, with the shipping companies then holding 16.6% each.
JSE Ocean was established in January 2023 to research the marine transportation of LH2 by using a large-scale LH2 carrier.
JSE, and the three Japanese shipping companies with extensive knowledge and experience in the energy transport business, will establish the marine transport of LH2 at a commercial scale through JSE Ocean.
It is mentioned that it expects the operation of the world’s first large-scale LH2 carrier by 2024, which will be powered by hydrogen, significantly reducing CO2 emissions during operation.
Japan’s Basic Hydrogen Strategy, revised by the Japanese government in June 2023, identifies hydrogen as the alternative to fossil fuels as it targets decarbonisation.
In the Strategy Japan commits to a target of 3 million tons/year of hydrogen by 2030, 12 million tons/year by 2040, and 20 million tons/year by 2050. Therefore the expectation for hydrogen as a clean energy is increasing worldwide and sea transportation of Hydrogen will be important to achieve a decarbonized society, as the companies said in their statement.
