MI LNG Company, Limited, a joint venture between Mitsubishi Heavy Industries, Ltd. (MHI) and Imabari Shipbuilding Co., Ltd., will officially be renamed MILES Co., Ltd. on January 1, 2025.
The name MILES, short for Marine-design Initiative for Leading Edge Solution, reflects the company’s commitment to delivering innovative and sustainable solutions for the maritime industry.
Key Details
- New Name: MILES Co., Ltd.
- Effective Date: January 1, 2025
- Focus Areas: Design and sales of LNG carriers, commercial ships using alternative fuels, and new liquefied CO₂ carriers (LCO₂ carriers).
For more details, visit the company website, which will be updated in January 2025.
Expanding Horizons Amid Decarbonization Trends
MI LNG, established in April 2013, has primarily focused on the design and sales of LNG carriers. In July 2023, the company expanded its operations through a partnership with Nihon Shipyard Co., Ltd. (NSY) to include the design of other commercial vessels.
With the maritime industry rapidly advancing toward decarbonization, the demand for low-carbon and alternative fuel-powered ships is surging. This includes vessels running on:
- LNG (a low-carbon fuel),
- Ammonia and methanol (alternative fuels), and
- Liquefied CO₂ carriers (LCO₂) for international CO₂ transportation.
Under its new identity as MILES Co., Ltd., the company aims to address these growing demands while maintaining its commitment to innovation and sustainability.
Joint Efforts in LCO₂ Carrier Development
In addition to its expanded design portfolio, MILES will actively contribute to the development of new liquefied CO₂ carriers, a critical component of large-scale CO₂ transportation for global decarbonization efforts.
- Collaborations:
MILES, alongside NSY, Mitsubishi Shipbuilding Co., Ltd., and major industry players such as Kawasaki Kisen Kaisha, Ltd., Mitsui O.S.K. Lines, Ltd., Nippon Yusen Kabushiki Kaisha, and Japan Marine United Corporation, is working to establish standard specifications and designs for LCO₂ carriers. - Milestone:
This collaborative initiative began in August 2024 and underscores the maritime industry’s focus on developing sustainable solutions.
Future Outlook
With its rebranding as MILES Co., Ltd., the company seeks to:
- Respond swiftly and flexibly to diverse industry needs.
- Promote sustainable growth in the shipping and shipbuilding sectors.
- Enhance its role as a key player in decarbonization by supporting the global transition to alternative fuels and low-carbon technologies.
This transformation positions MILES Co., Ltd. as a leader in shaping the future of maritime transport while fostering sustainability and innovation across industries.
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Source: Mitsubishi Heavy Industries
