Business

MOL and partners to boost fuel efficiency of MOL Group-operated vessels

MOL, MOLTT and Akishima Laboratories (Mitsui Zosen) Inc. said they formed a partnership to explore the usage of Energy-Saving Devices to improve fuel efficiency.

Published

4 years ago

September 28, 2022

Admin

Mitsui O.S.K. Lines, Ltd. (MOL), MOL Techno-Trade, Ltd. (MOLTT), and Akishima Laboratories (Mitsui Zosen) Inc. on Tuesday (27 September) said they have formed a strategic partnership to explore the usage of various Energy-Saving Devices (ESDs) to improve fuel efficiency of MOL Group-operated vessels and minimise vessels’ greenhouse gas (GHG) emissions.

With the technology playing an increasingly critical role in every aspect of the business, MOL Group said it recognises the need to accelerate its operational development through capitalising in various ESDs and technology deployment to its MOL Group-operated vessels to drive successful transformation translated into and improved fuel efficiency and reduction of GHG emissions in the most effective and immediate manner.

Through this partnership, leveraging the synergy of the collective strengths of the three companies— MOL’s FOCUS project, MOLTT’s technical resources backed by a wide and rich range of ESDs marketing and effectiveness verification experiences and Akishima Laboratories (Mitsui Zosen)’s dedicated to marine technology research and engineering expertise.

A special task force was set up, consisting of about 30 project specialists from the three companies, who will pursue fuel efficiency and further reduce GHG emissions from vessels immediately. The partnership has set a clear target to achieve a 5% improvement in fuel efficiency (i.e. compared to FY2019) by end of FY2024 through synergistic collaborations with EcoMOL Inc. , which was established in the Philippines in May, with the goal of promoting vessel operating efficiency.

The partner companies will comprehensively examine the different characteristics and conditions of every vessel, and combine 18 different types of measures, encompassing optimal trim, advanced low friction and antifouling paint usages, optimal propeller retro-fittings, best ESD combinations studies, and introduction of various energy-saving technologies and equipment in a timely manner. In addition, the scope will expand to each vessel’s optimal maintenance revision not limited to dry- docking maintenance but also other timings such as during berthing/anchoring so that the companies can utilise every opportunity to improve vessels performance.

Furthermore, the companies will expand their projects in an effective and systematic manner through conducting highly accurate analysis, validation of the effects, and continuous improvements in line with the PDCA cycle, utilising highly granular operational big and rich data which is readily available from the equipment already installed to vessels in the FOCUS project and steering an engineering-based approach.

Photo credit: Mitsui O.S.K. Lines, Ltd.

Published: 28 September, 2022

Legal

Singapore withdraws remaining 127 charges against Hin Leong founder OK Lim

Lim Oon Kuin, also known as OK Lim, was issued a stern warning and a district court granted him a discharge amounting to an acquittal for these charges on 17 July.

Published

15 hours ago

July 21, 2026

Admin

Founder of collapsed oil trader Hin Leong Trading, Lim Oon Kuin, also known as OK Lim, has had the remaining 127 charges against him withdrawn, according to The Straits Times on Monday (20 July).

OK Lim was issued a stern warning and a district court granted him a discharge amounting to an acquittal for these charges, including those for cheating, on 17 July. The discharge means Lim cannot be prosecuted again for the same offences.

Lim, 84, is currently serving a 13½-year prison sentence after the High Court reduced his original 17½-year jail term in March 2026. He was convicted in 2024 on two cheating charges and one count of abetting forgery in a case prosecutors described as one of Singapore’s most serious trade finance frauds.

Lim was convicted in May 2024 of two charges of cheating the Hongkong and Shanghai Banking Corporation (HSBC) and one count of abetting forgery that proceeded to trial out of a total of 130 criminal charges.

He was first charged in court on 14 August 2020, and was subsequently handed further charges in court on 25 September 2020, 30 April 2021 and 24 June 2021 for his role in perpetuating fraud on various financial institutions.

A total of 130 charges were eventually brought against him for cheating and forgery-related offences.

Photo credit: Sora Shimazaki
Published: 21 July, 2026

Winding up

Singapore: Coastal Logistics Pte Ltd to be wound up voluntarily

Coastal Logistics was reportedly affiliated with troubled Singapore bunker player Coastal Oil (Singapore) Pte Ltd.

Published

15 hours ago

July 21, 2026

Admin

Several resolutions for Coastal Logistics Pte Ltd were made during an extraordinary general meeting held on 14 July, according to a notice in the Government Gazette on Friday (4 July).

The following resolutions were duly passed during the meeting:

As Special Resolution

That it has been proved to the satisfaction of the meeting that the Company cannot by reason of its liabilities continue its business and accordingly the Company be wound up voluntarily pursuant to Section 160(1)(b) of the Insolvency, Restructuring and Dissolution Act 2018 (No. 40 of 2018);

As Ordinary Resolutions

that Mr. Wong Pheng Cheong Martin and Ms. Koay May Yee, both care of FTI Consulting (Singapore) Pte Ltd, One Raffles Quay, #27-10 South Tower, Singapore 048583 be appointed as the joint and several Liquidators of the Company for the purpose of such winding up; and
that the Liquidators be at liberty to open, maintain and operate any bank account(s) or account(s) for monies received by them as Liquidators with such bank(s) as they deem fit; and
that a Committee of Inspection will not be formed.

Manifold Times previously reported Nicholas James Gronow, director of Heng Tong Fuels & Shipping and Coastal Logistics, filed statutory declarations for both companies stating the firms cannot continue their businesses due to liabilities.

Both companies were reportedly affiliated with troubled Singapore bunker player Coastal Oil (Singapore) Pte Ltd.

In 2019, several vessels owned by both firms entered the sale & purchase (S&P) market in Singapore.

Photo credit: Drew Beamer
Published: 21 July, 2026

LNG Bunkering

PIL’s LNG dual-fuel boxship “Kota Elok” arrives in Singapore on maiden call

As the first of 13 new 13,000 TEU vessels joining its fleet, Kota Elok is equipped to operate on LNG and low-sulphur fuel oil that helps reduce our greenhouse gas emissions.

Published

15 hours ago

July 21, 2026

Admin

PIL's LNG dual-fuel boxship “Kota Elok” arrives in Singapore on maiden call

Singapore-based Pacific International Lines Pte Ltd on Monday (20 July) said its first 13,000 TEU LNG dual-fuel container vessel, Kota Elok, recently made her maiden call to Singapore on 15 July.

As the first of 13 new 13,000 TEU vessels joining its fleet, Kota Elok is equipped to operate on liquefied natural gas (LNG) and low-sulphur fuel oil that helps reduce our greenhouse gas emissions.

The vessel also incorporated energy-saving features and digital technologies to reduce fuel consumption and enhance operational performance, as well as a bow windshield to improve aerodynamics, contributing to improved fuel efficiency and lower emissions over the course of long-haul voyages.

“Following Singapore, Kota Elok will continue her voyage on our East Coast Service 1 (ES1) route to South America, calling at ports in Brazil, Uruguay, and Argentina before returning to Asia,” the company said in a social media post.

Kota Elok also became PIL’s first vessel to receive Lloyd’s Register certification for compliance with the IACS UR E26 and UR E27 cyber security requirements.

Developed by the International Association of Classification Societies (IACS), UR E26 and UR E27 are mandatory cyber resilience requirements for newbuild vessels contracted from 1 July 2024.

Photo credit: Pacific International Lines
Published: 21 July, 2026