MOL signs comprehensive MoU with Maritime and Port Authority of Singapore

Mitsui O.S.K. Lines, Ltd. today announced that on November 26, it signed a comprehensive memorandum of understanding (MoU) with the Maritime and Port Authority of Singapore (MPA) to deepen cooperation in the fields of decarbonization, digitalisation, and human resources development. MOL and MPA have been cooperating in various initiatives to decarbonize the maritime industry, the new agreement will further promote these initiatives in a wide range of fields.

MPA Chief Executive Teo Eng Dih said: “This MoU reaffirms MPA and MOL’s longstanding collaboration. As a maritime hub port, supported by our innovation and research ecosystem, MPA is working closely with industry and tripartite partners to support digitalisation, cybersecurity, decarbonisation and manpower capabilities. We look forward to MOL’s expansion of activities, tapping on both our experience and expertise, to develop scalable solutions for the Singapore-Japan Green and Digital Shipping Corridor and the wider maritime community.”

MOL President & CEO Takeshi Hashimoto commented: “We have been focusing on the fields of decarbonization, digitalisation, and human resources development, which we have decided to deepen cooperation with MPA this time. MPA is committed to working hard to create a sustainable maritime industry in Singapore, the hub of the maritime industry. We pay our respect to MPA for its enthusiasm and energy. The fields of bilateral cooperation are also a challenge for the maritime industry as a whole, and I hope we can increase the feasibility by working together as like-minded people. We are confident that the establishment of this comprehensive cooperative relationship will contribute to the maritime industry in general.”

Specifically, the scope of the MoU covers the following:

１ Collaboration in the field of decarbonization in the maritime industry in general.

Mutual collaboration to establish a supply system for next-generation fuel sources such as methanol, ammonia, and hydrogen. The collaboration will also include study on the use of wind technology.

２ Digitalization and maritime innovation.

Improving voyage management and efficiency of transport operations through digitalization, including development of cybersecurity, collaboration on autonomous vessel trials, and nurturing marine innovation ecosystem that emphasizes collaboration with local startups.

３ Joint development of maritime human resources.

Grow and enhance manpower capabilities, including grooming seafarers and shore-based workforce.

MOL will continue its group-wide concerted effort, in close cooperation with MPA and other major maritime sectors, to achieve sustainable GHG net-zero emissions and contribute to the realization of a decarbonized society.