MOL Signs Collaboration Deal with Nagasaki Prefecture for Shipbuilding-Related Industries and Renewable Energy Projects

Raising Nagasaki Prefecture's Profile/Creating New Value for Local Companies through Public-Private Collaboration

Tokyo - February 01, 2023

Mitsui O.S.K. Lines, Ltd. (MOL; President & CEO: Takeshi Hashimoto) today announced the signing of a collaboration agreement with the Nagasaki Prefecture Department of Industrial and Labor Affairs to develop and promote renewable energy projects and shipbuilding-related industries in the prefecture.

In October 2021, the Japanese government announced the goal of achieving carbon neutrality on a national scale by 2050 (Note 1), and the entire world is accelerating the move toward decarbonization. In the future, Nagasaki Prefecture is expected to promote the construction of more environment-friendly vessels and make advances in renewable energy by utilizing marine and wind energy.

Meanwhile, in June 2021, MOL announced the "MOL Group Environmental Vision 2.1.," which aims to achieve group-wide net zero greenhouse (GHG) emissions by 2050 through five strategies. The company is not only taking steps to reduce GHG emissions, including equipping vessels with the Wind Challenger (Note 2), but also working with Nagasaki Prefecture to develop a supply chain for renewable energy in Japan and overseas. Through this partnership, the MOL Group will promote improved fuel efficiency and GHG reduction for its vessels and contribute to the realization of a low-carbon society.

MOL will collaborate with Nagasaki Prefecture, which has a long history in maritime-related fields, in the fields of renewable energy and shipbuilding-related industries, and with various local companies, including Sawayama & Co., Ltd., which has a long history of promoting the prefecture's maritime industry, to create a "value chain of maritime-related energy."

Outline of Agreement

1. Objective
MOL and Nagasaki Prefecture will collaborate and cooperate with each other to promote collaborative activities utilizing the resources of both parties and to revitalize businesses in the prefecture.

2. Outline
(1) Promotion of shipbuilding-related industries
(2) Promotion of renewable energy projects

3. Date of signing the collaboration agreement
Tuesday, January 31, 2023

Image by MOL.

(Note 1) In October 2021, the government of Japan declared that the nation would achieve carbon neutrality by 2050, reducing overall greenhouse gas emissions to zero by that year.

(Note 2) Please refer to press releases related to the Wind Challenger.
- October 25, 2022 "Coal Carrier SHOFU MARU Equipped with 'Wind Challenger' Hard Sail Marks Maiden Call in Australia"
- October 7, 2022: Delivery of SHOFU MARU, World's First Cargo Vessel equipped with 'Wind Challenger' Hard Sail

Mitsui O.S.K. Lines, Ltd. press release