Mitsui O S K Lines : 2024/04/26 Newbuilding LPG-fueled 'LPG & Ammonia Carrier' for GYXIS, Aquamarine Progress II, Delivered

April 26, 2024

TOKYO-Mitsui O.S.K. Lines, Ltd. (MOL; President & CEO: Takeshi Hashimoto) today announced that the LPG (Note 1)dual-fuel LPG/ammonia carrier (VLGC) Aquamarine Progress II (Note 2), ordered by its group company, Aramo Shipping (Singapore) Pte. Ltd. (Note 3) (Head office: Singapore), was delivered on April 26 by Namura Shipbuilding Co., Ltd. (President: Kensuke Namura; Head Office: Nishi-ku, Osaka). The Aquamarine Progress II will sail under a time charter contract with GYXIS Corporation (President and Representative Director: Keiji Tanaka; Head Office: Minato-ku, Tokyo), a Japanese LPG importer and distributor.

The LPG-fueled LPG and ammonia carrier Aquamarine Progress II

The dual-fuel vessel can run on either LPG or conventional heavy oil, and when LPG is used as fuel, CO₂ emissions can be reduced by about 20% and sulfur oxides (SOx,) particulate matter (PM), and so on. by about 90% compared to heavy oil. In addition, the specifications allow for the transport of ammonia as well as LPG. Ammonia, which emits no carbon dioxide during combustion, is expected to increase in demand in the future as a next-generation clean energy source.

At the naming ceremony

The naming ceremony was held on March 12 at the Imari Works of Namura Shipbuilding, and the vessel was named by GYXIS President and Representative Director Keiji Tanaka. Along with GYXIS, MOL will further contribute to the stable supply of LPG to Japan through the operation of the Aquamarine Progress II.

The MOL Group has positioned environmental strategy as a key element in its "BLUE ACTION 2035" management plan, and has set the target of achieving net zero greenhouse gas (GHG) emissions by 2050 in the "MOL Group Environmental Vision 2.2." The group will continue working together to achieve net zero GHG emissions by 2050 through concerted group-wide efforts.

[Outline of the vessel]

LOA	230 m
Breadth	36.6 m
Cargo tank capacity	87,119.30 m3
Year of delivery	April 2024
Shipyard	Namura Shipbuilding Co., Ltd.

(Note 1) LPG stands for Liquified Petroleum Gas.

(Note 2) Please refer to the following press release.
August 5, 2021: "MOL Group's Phoenix Tankers Signs Deal for Construction of LPG Fuelled VLGCs for LPG/Ammonia Transport"

(Note 3) A corporation in which Fuji Oil Co., Ltd (President: Shigeto Yamamoto, Head Office: Shinagawa-ku, Tokyo) and MOL have invested through their respective subsidiaries.

MOL Group 5 Sustainability Issues
MOL Group identifies "Sustainability Issues" (Materiality) as our key issues for sustainable growth with society through realization of the Group Vision.
We anticipate this initiative to contribute especially to the realization of "Safety & Value -Provide added value through safe transportation and our social infrastructure business-" and "Environment -Conservation for Marine and global environment-."