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MOL offsets CO2 emissions from bulk carrier voyage with carbon credits

10 Mar 2023

Mitsui O.S.K. Lines, Ltd. and Kobe Steel, Ltd. on Thursday (9 March) said they have offset carbon dioxide (CO2) emissions from bunker fuel used in ocean transport of iron ore from Australia to Japan, through the use of voluntary carbon credits generated from the Rimba Raya Biodiversity Reserve project in Indonesia.

Both companies believe optimal and effective approaches to reduce CO2 emissions throughout the supply chain are essential to realise a sustainable society.

While MOL seeks co-creation with other companies on measures that the company can take now to achieve the target of net zero greenhouse gas (GHG) emissions by 2050, Kobe Steel, which set “Contributing to a green society” as its Group’s materiality, agrees with the idea.

This has led the companies to team up on this carbon offset.

The offsetting took place for the Capesize bulker under MOL’s operation, Shinzan Maru, which is exclusively engaged in a long-term iron ore transport contract with Kobe Steel.

The voyage took about six weeks from Port Walcott, Australia, to Kakogawa Works in Kakogawa City, Hyogo Prefecture, where the iron ore was unloaded.

The CO2 emissions from the Shinzan Maru during this period were calculated to be about 2,875 tons for the entire process from fuel oil production to consumption on the vessel.

The carbon credits used for this carbon offset have been certified by Verra, which operates the world’s leading voluntary carbon credit standards, and generated within the past five years.


Photo credit: vessels lover / MarineTraffic
Published: 10 March, 2023

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