World News
MOL Launches New Project to Reduce Fleet's Environmental Impacts
Mitsui O.S.K. Lines, Ltd. (MOL) today announced that it has launched a new technological development project that will reduce the environmental impact of its fleet, the Ishin Next - MOL Smart Ship Project.
"Through the project, MOL will share its technological development policies with customers and other stakeholders, and therefore collect diversified needs and various seeds of technologies," explained MOL.
"By matching them, MOL intends to develop two fields of technologies such as safer vessel operation and reducing environmental impact, which helps enhance its business strengths and increase its corporate value."
MOL notes that the project builds on the Senpaku ISHIN project, which was announced in 2009.
The new project will support the adoption of newbuild vessels that utilise technologies for reducing environmental impact, as well as advanced support technologies for safer vessel operation.
MOL says it will verify and report on the practical effects of these technologies every year following the vessels' deployment.
In September, Ship & Bunker reported that MOL had unveiled an ambitious new plan to use artificial intelligence (AI) to forecast bunker prices, along with other shipping market movements.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 646.50 | 5.50 | 773.50 | 11.50 |
| Rotterdam | 604.00 | 5.00 | 756.00 | 5.00 |
| Houston | 630.50 | 1.00 | 798.50 | 4.00 |
| Fujairah | 650.50 | 3.00 | 897.00 | 13.50 |
| Global 20 Ports Average | 662.50 | 1.00 | 858.50 | 0.50 |
| Global 4 Ports Average | 633.00 | 3.50 | 806.00 | 6.50 |
| Global Average Bunker Price | 718.50 | 0.50 | 914.00 | 1.00 |
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