Japan's MOL to work on cutting vessel emissions

Japanese companies MOL, MOL Techno-Trade and Akishima Laboratories have signed an agreement to progress fuel efficiency of MOL Group-operated vessels and minimise vessels’ greenhouse gas (GHG) emissions, MOL said on September 27.

The partnership has set a target to achieve a 5% improvement in fuel efficiency by end of 2024 through collaborations with EcoMOL, which was established in the Philippines in May, with the goal of promoting vessel operating efficiency.

The companies will examine the different characteristics and conditions of every vessel, and combine 18 different types of measures, encompassing optimal trim, advanced low friction and antifouling paint usages, MOL said.

The MOL Group set mid-to-long-term targets to reduce GHG emissions intensity in marine transport by approximately 45% by 2035 compared with 2019 and achieve net zero emissions by 2050.