The Japanese shipping group Mitsui O.S.K. Lines (MOL) said on October 2 that Singapore-headquartered MOL Ocean Bulk Pte. Ltd., which operates the MOL group’s overseas capesize bulker business, had signed a 25-year iron ore transportation contract with Vale International S.A., a subsidiary of Vale S.A., using two vessels.
The project will employ what MOL described as the world’s first 210,000-metric-ton ore carriers equipped with a tri-fuel propulsion system that can run on ethanol, methanol, and conventional heavy fuel oil.
The ships, scheduled for delivery in 2030, will primarily carry out the transoceanic transport of the company’s iron ore.
Each ship will be 299.95 meters long with breadth 50.00 meters.
The ships will transport iron ore from Brazil to destinations worldwide, with China as a key market.
The vessels are equipped with tri-fuel engines and feature an LNG/ammonia-ready design, enabling the future use of either fuel.
In addition, they incorporate a range of energy-saving technologies available for next-generation newbuilding vessels.
MOL said the design is intended to give operators flexibility in fuel choice, broadening options for reducing greenhouse gas emissions in marine transport.
In accordance with MOL, the contract would support its environmental plan, BLUE ACTION 2035 Phase 2, under which the group is targeting net-zero greenhouse gas emissions by 2050.
The company added that operating the vessels is expected to contribute to reducing Vale’s marine transport-related Scope 3 emissions, which refer to indirect greenhouse gas emissions generated across a company’s value chain.
