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    9104   JP3362700001

MITSUI O.S.K. LINES LTD

(9104)
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Delayed Japan Exchange  -  02:00 2022-10-06 am EDT
2822.00 JPY   +1.84%
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Four Companies Launch Study on Application of Aerospace Engineering Technology to Wind-Powered Vessels~ New Phase in Vessel Development Using Wind Power ~

08/05/2022 | 11:21am EDT

Mitsui O.S.K. Lines, Ltd. (MOL; President & CEO: Takeshi Hashimoto), MOL Tech-Trade, Ltd. (MOLTT; President: Yoshikazu Kawagoe), Tokai University (President: Kiyoshi Yamada) and Akishima Laboratories (Mitsui Zosen) Inc. (President: Taiji Maeda) today announced an agreement to start a joint study related to wind powered propulsion of vessels by application of aerospace engineering technologies.

MOL, MOLTT, and Akishima Laboratories (Mitsui Zosen) have moved ahead with the adoption of their jointly developed 'ISHIN ship design' (Note 1), which reduces greenhouse gas (GHG) emissions by using wind as propulsive force. Now they will implement more advanced joint development aimed at optimizing the hull shape for wind-powered vessels, which adopts aerospace engineering technologies in ISHIN ship design, in collaboration with Dr. Kota Fukuda, Associate Professor at the Department of Aeronautics and Astronautics, Tokai University, Japan.

Adoption of 'ISHIN ship design' on the vessel can reduce GHG emissions by about 5% on the Asia-North America route, but targets a reduction of more than 12% by introducing aerodynamic technologies accumulated in the aerospace engineering field.

The MOL Group has set a target of achieving group-wide net zero emissions by 2050 in 'MOL Group Environmental Vision 2.1.' It will proactively move ahead with technological development and social implementation to reduce GHG emissions from its vessels with concerted effort throughout the group, and meet customer and social needs to reduce the environmental impact of its business activities, thus contributing to the realization of a decarbonized society. (Fig.1)Dr. Kota Fukuda and his group have carried out fluid dynamics research on examination of flow phenomena around rockets and aircrafts, development of high-performance solar cars and solar unmanned airplanes, and further application of their own simulation technology to the medical field. Through this joint study, they will expand their research fields to ship engineering and ocean-going vessel development.

The study was selected for the Japan Ship Machinery and Equipment Association (JSMEA) '2022 new product development subsidy program', and efforts are underway to commercialize the R&D results for the benefit of society with the subsidy from 'The Nippon Foundation'.

ISHIN ship design

This technology was jointly developed by three companies-MOL MOLTT, and Akishima Laboratories (Mitsui Zosen)-and earned patent and design registration. The hulls of these ships feature a shape that reduces wind pressure from both the bow and the sides. It uses lift from diagonally opposite winds, in addition to ensuring a smooth, streamlined flow of wind.

This design will be adopted on two cutting-edge LNG-powered ferries ordered by MOL.

https://mol.disclosure.site/en/themes/101

https://www.mol.co.jp/en/pr/2022/img/22090.pdf

(C) 2022 Electronic News Publishing, source ENP Newswire

Stocks mentioned in the article
ChangeLast1st jan.
MITSUI O.S.K. LINES LTD 1.84% 2822 Delayed Quote.-2.66%
MOL MAGYAR OLAJ- ÉS GÁZIPARI NYILVÁNOSAN MUKÖDO RÉSZVÉNYTÁRSASÁG 0.91% 2648 End-of-day quote.5.08%
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Financials
Sales 2023 1 441 B 9 953 M 9 953 M
Net income 2023 777 B 5 364 M 5 364 M
Net Debt 2023 776 B 5 359 M 5 359 M
P/E ratio 2023 1,29x
Yield 2023 19,6%
Capitalization 1 019 B 7 035 M 7 035 M
EV / Sales 2023 1,25x
EV / Sales 2024 1,33x
Nbr of Employees 8 547
Free-Float 98,2%
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Last Close Price 2 771,00 JPY
Average target price 4 426,00 JPY
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Takeshi Hashimoto President, CEO & Representative Director
Junichiro Ikeda Chairman
Yoshikazu Kawagoe Chief Technical Officer
Hideto Fujii Independent Outside Director
Etsuko Katsu Independent Outside Director
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