Japanese shipping group Mitsui O.S.K. Lines (MOL) has established a new wholly owned subsidiary called EcoMOL, which will focus exclusively on reducing GHG emissions from its ships through the implementation of digital technologies to improve operational efficiency.
MOL has set a target of improving fuel-efficiency by 5% by the end of 2024, in line with its ‘MOL Group Environmental Vision 2.1’ strategy published in 2021.
The company says that, in the short-term, improving ship operational efficiency through the adoption of digital systems is the most effective and realistic option available to deliver immediate results in pursuit of this goal.
The vessel operator intends to support dynamic reactive responses to changing conditions at sea during daily operations by leveraging big data analysis and continuous real-time monitoring of actual operational performance parameters.
EcoMOL will be tasked with driving those activities by collaborating with various stakeholders and providing advice to vessels on how to improve their emissions profile.
The new subsidiary will be headquartered in the Philippines, leveraging MOL’s existing staff in the region and adding new Filipino maritime experience over time.