Tokyo, Japan - March 08, 2023
Mitsui O.S.K. Lines, Ltd. (MOL; President & CEO: Takeshi Hashimoto, Headquarters: Minato-ku, Tokyo) and Vale International SA (VALE; CEO: Eduardo Bartolomeo Headquarters: Rio de Janeiro, Brazil) have today announced a partnership to retrofit a 200,000-ton class bulk carrier, currently employed under a mid-term contract for transportation of iron ore for Vale, with two 35m x 5m rotor sails produced by Norsepower Oy Ltd (Norsepower; CEO: Tuomas Riski, Headquarters: Helsinki, Finland).
The installation of the rotor sails is expected in the first half of 2024.
Artistic rendering of vessel with Norsepower Rotor SailsTM. Image by MOL.
At the meeting for this Agreement. Right: VALE, Head of Shipping, Guilherme Brega.
Left: MOL, Senior Managing Executive Officer, Toshinobu Shinoda. Image by MOL.
MOL and VALE will continue to work towards both the stable transportation of iron ore and the reduction of GHG emissions.
About Mitsui O.S.K. Lines, Ltd. (MOL)
MOL is a global leading shipping company operating about 800 ships across the world. MOL fleet includes dry cargo ships, liquefied natural gas carriers, Ro-Ro car carrier ships, oil tankers, etc. In addition to the traditional shipping businesses, MOL offers social infrastructure businesses such as real estate, terminal and logistics, offshore wind power, and associated businesses.
With one of the largest merchant fleets and about 140 years of history, experience, and technology, MOL group aims to be a strong and resilient corporate group that provides new value to all stakeholders. Official website: https://www.mol.co.jp/en/
About Vale International SA
The world's leading mining company, with annual iron ore production capacity of about 335 million tons. Official website: https://www.vale.com/
About Norsepower Oy Ltd
Norsepower Oy Ltd is a Finnish clean technology and engineering company pioneering modern auxiliary wind propulsion for the global maritime industry. The Norsepower Rotor SailTM has been used by customers for over eight years and has been proven as a low-maintenance, easy to use, and reliable fuel saving technology, which is supporting the decarbonisation of the shipping industry. Official website: www.norsepower.com
Mitsui O.S.K. Lines, Ltd. press release