MOL and Rio Tinto partner on decarbonization

Japanese shipping major Mitsui O.S.K. Lines (MOL) has partnered with British-Australian mining group Rio Tinto to enhance collaborations on safety and crew welfare initiatives and decarbonization of maritime transportation.

As disclosed, MOL and Rio Tinto have agreed to further collaborate on shipping decarbonization in addition to the existing commitment to the designated owners and operators (DOO) program, launched in March 2023.

The program is Rio Tinto’s initiative targeted to enhance safety and improve crew welfare in the dry bulk industry. It aims to achieve zero fatality on ships and improve both safety as well as quality management on ships.

The goal is also to uplift crew welfare through self-assessment tools that identify areas for improvement with verification by independent nominated parties.

Under the new agreement with Rio Tinto, MOL will focus on improving operational and technical efficiency, as well as seeking potential collaboration in alternative shipping fuels.

The partners will also work together on lowering GHG emissions for the ocean transportation of resources.

MOL has set the target of achieving net zero GHG emissions by 2050. The company plans to achieve this by adopting clean fuels to vessels and efficient operations.

Recently, the shipowner, together with Japan’s Sasaki Shipbuilding, was awarded an Approval in Principle (AiP) for an ammonia (NH3) bunkering vessel from Bureau Veritas (BV).