Mitsui O.S.K. Lines, Ltd. (MOL; President & CEO: Takeshi Hashimoto) announced that on January 17, a ceremony for the naming and delivery of the Cypress Sun was held at Hyundai Mipo Dockyard , says an article published on their website.
Long-term contract
The vessel will be chartered by MOL from Osaka Shipping Co., Ltd. (President: Morio Kotani; Headquarters: Osaka City, Osaka) and Waterfront Shipping Company Limited (WFS; President: Paul Hexter; Headquarters: Vancouver, Canada) will charter the vessel from MOL under a long-term contract.
Conventional marine fuel
The vessel is a sister ship to the Capilano Sun (Note), which was delivered in 2021 and also chartered by MOL to WFS.
Methanol fuel can reduce sulfur oxide (SOx) emissions by up to 99%, particulate matter (PM) emissions by up to 95%, nitrogen oxide (NOx) emissions by up to 80%, and carbon dioxide (CO2) emissions by up to 15% in comparison to burning conventional marine fuel.
Net CO2 emissions
In the future, net CO2 emissions can be reduced by using methanol fuels derived from non-fossil raw materials-such as e-methanol produced by synthesizing CO2 recovered from various emission sources & hydrogen produced using renewable energy, and biogas-derived biomethanol.
World’s largest fleets
MOL operates one of the world’s largest fleets of methanol carriers, with a total of 19, (including the Cypress Sun), and it has been expanding the number of dual-fuel vessels, which can run on methanol, since 2016.
Currently, MOL operates five of the 23 methanol dual-fuel tankers in service worldwide, including the Cypress Sun.
Global environmental protection
The MOL Group is committed to addressing environmental issues in accordance with the “MOL Group Environmental Vision 2.1.,” and it will leverage the experience and expertise the group has accumulated over the years to provide a wide range of services to customers, and work to further expand methanol transportation services.
The group also will contribute to the global environmental protection by achieving net-zero emissions.
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Source: MOL
