Adoption of Green Steel Products with Reduced CO₂ Emissions in New Shipbuilding

MOL Drybulk Ltd. (President: Kazuhiko Kikuchi, Head Office: Minato-ku, Tokyo, Japan) has decided to adopt JGreeX, a green steel product of JFE Steel Corporation (President & CEO: Yoshihisa Kitano, Head Office: Chiyoda-ku, Tokyo, Japan, hereinafter “JFE Steel”), as the steel material to be used on a multipurpose vessel under construction by Onomichi Dockyard Co., Ltd. (President: Takashi Nakabe, Headquarters: Kobe, Hyogo, Japan) and scheduled for delivery in 2025.

JGreeX, a steel product from JFE Steel that significantly reduces CO₂ emissions in the steel manufacturing process compared to conventional products, will be available in the first half of 2023. (Note)

With regard to the increased cost by using green steel, we aim to build a social distribution model in which the entire supply chain, including JFE Steel as a shipper, will share the CO₂ reduction value.

In addition to the use of green steel, the vessel will be equipped with a Marine Gas Oil (MGO) mono-fuel engine to optimize combustion and further reduce CO₂ emissions while reducing nitrogen oxide (NOx) emissions.

Vessel specifications (photo shows the same type of vessel)

Type	Multi-Purpose Vessel with Crane (Twin Decker)
Length overall	129.9m
Width	23.6m
DWT	17,500MT

MOL group has positioned its environmental strategy as one of its key strategies in the BLUE ACTION 2035 management plan, and the MOL Group Environmental Vision 2.2 sets a goal for the entire group to achieve net zero emissions by 2050. This initiative aims to realize decarbonization not only for our group but also society.

(Note) JGreeX is a steel product that significantly reduces CO₂ emissions in the steel manufacturing process by allocating the amount of reduction created by JFE Steel’s CO₂ emission reduction technology to specific steel products using the mass balance method.
For details, please refer to JFE Steel’s Press Release dated May 8, 2023.

MOL Group 5 Sustainability Issues
MOL Group will contribute to realizing a sustainable society by promoting responses to sustainability issues, which are identified as social issues that must be addressed as priorities through its business. We anticipate this initiative to contribute especially to the realization of “Environment -Conservation for Marine and global environment-” and “Innovation -Innovation for development in marine technology-“.

For further information, please contact:
MOL Drybulk Ltd.
ICT Communication Team　Mail: dbict@molgroup.com