Japan’s Mitsui OSK Lines (MOL) and Indian steel giant Tata Steel have signed a memorandum of understanding to develop and deploy an environmentally friendly bulk carrier and reduce greenhouse gas (GHG) emissions in the shipping of raw materials for the production of steel.
In the initial stage, the partnership will explore the environmental benefits and commercial and operational feasibility of various technologies. This will include the wind power propulsion system known as the Wind Challenger, which has the potential to achieve a 5% to 8% reduction in GHG emissions by reducing bunker oil consumption through the use of a telescoping hard sail that converts wind energy to propulsive force.
Ranjan Sinha, chief group shipping and director RM procurement of Tata Steel, said: “Tata Steel as a signatory of Responsible Steel is committed to aligning its shipping activities with responsible environmental behaviour. We are pleased to be joining hands with MOL, a reputed global marine transport company, in combining efforts towards sustainable shipping.”
MOL recently unveiled an updated environmental roadmap (Environmental Vision 2.1) aiming for net zero GHG emissions by 2050, which would see it pursue adoption of clean alternative fuels and enhancement of energy-saving technologies.
Toshiaki Tanaka, senior managing executive officer and chief environment and sustainability officer of MOL, said: “There would be a long, long pathway to achieve the Vision 2.1, and we believe that working collaboratively with a good partner is important. The partnership with Tata Steel, a leading global steel company, encourages MOL to challenge goals for the Vision 2.1.”
MOL has already placed an order at Oshima Shipbuilding for construction of the first vessel to be equipped with the Wind Challenger – a coal carrier, slated to start operation in 2022.