2022 June 22 15:51

MOL establishes subsidiary EcoMOL

Mitsui O.S.K. Lines announced the establishment of a wholly owned subsidiary called EcoMOL, which tackles immediate GHG emission reduction by ships' operational efficiency through digital solutions, according to the company's release.

MOL has set a target to improve 5 % fuel-efficiency by end of 2024, it is in line with "MOL Group Environmental Vision 2.1". In the short term plan, improving ship operational efficiency including ship's ESD (energy sailing device) installations is the most effective and realistic solution.

The FOCUS project as the MOL ships digital transformation solution will fully assist the activities providing multiple aspects of ships' data performance based on ships' highest granularity data and translate ships data analysis into operational excellence.

MOL has set medium- to long-term targets of "Reducing GHG emissions intensity in marine transport by approximately 45% by 2035 (versus 2019)" and "achieving net zero GHG emissions by 2050 with concerted effort throughout the group," through five initiatives including "boost operational efficiency" in the "MOL Group Environmental Vision 2.1". EcoMOL will play a key role to achieve sustainable net zero GHG emissions and contribute to a low- and decarbonized society.