Mitsui O.S.K. Lines, Ltd. today announced that it has decided to re-enter the ammonia transport business with the Green Pioneer, a 35,000 cbm-type ammonia /LPG carrier, and signed a time charter contract with Trammo, a leading international merchandising and ammonia trading company, according to MOL's release.
MOL was active in the ammonia transport business until 2016 and this contract marks its re-entry into the field.
Ammonia is widely used all over the world as a raw material for fertilizer and demand is expected to increase in step with rising food production as the world's population grows. In recent years, ammonia has also drawn attention as a next-generation clean fuel, which generates zero CO2 emissions when it burns, and as a "hydrogen carrier" that enhances the efficiency of hydrogen transport.
MOL has the world's largest LNG fleet, which is also positioned for growth as a low-carbon fuel, and has been deeply involved in LNG value chains through its powership and FSRU businesses. The MOL Group will steadily accumulate a track record in safe, reliable transport of ammonia and hydrogen, which are expected to be in high demand as fuel in the future, and contribute to the realization of a decarbonized society through proactive participation in a broad range of value chains.