Mitsui O.S.K. Lines, Ltd. (MOL) announced the signing of a Memorandum of Understanding (MoU) with Be Forward Co., Ltd. for a pure car carrier book and claim service for used car transport to Africa.
Be Forward is the first customer for this service. The five-year contract begins in April 2025.
The agreement allows Be Forward to claim the greenhouse gas (GHG) reduction benefits associated with MOL's use of LNG-fueled car carriers as its own GHG emission reductions through certification.
MOL stated that it will "continue to reduce its own GHG emissions through the launch of new LNG-fueled car carriers" and "pursue initiatives that contribute to GHG emission reduction for its stakeholders as with its partnership with Be Forward, and society as a whole, aiming to achieve net-zero GHG emissions by 2050."