AiP given to 80,000m³ Liquefied Hydrogen Carrier

September 19, 2024

TOKYO-Mitsui O.S.K. Lines, Ltd. (MOL; President & CEO: Takeshi Hashimoto; Headquarters: Minato-ku, Tokyo) today announced that HD Korea Shipbuilding and Offshore Engineering Co., Ltd. (HD KSOE), a major shipbuilding and engineering company of South Korea has received approval in principle (AiP) (Note 1) from Det Norske Veritas (DNV; Headquarters: Oslo) for an 80,000m³ capacity liquefied hydrogen carrier, jointly developed by MOL, Woodside Energy Ltd (Woodside), a major Australian energy company, and Hyundai Glovis Co., Ltd. (Hyundai Glovis), a major shipping company of South Korea. The presentation ceremony was held on September 18 at the Gastech Exhibition & Conference 2024, one of the world's largest international energy exhibitions and conferences, in Houston, Texas, U.S.

MOL has been working with Woodside, HD KSOE, and Hyundai Glovis to develop a liquefied hydrogen carrier since January 31, 2024. And it has now completed the hazard identification study (HAZID) (Note 2) and environmental impact identification (ENVID) (Note 3), which are essential for assessing and mitigating potential risks associated with the ship design and operation and its environmental impact.

The partners will continue to develop the vessel with a 2030 target for delivery and entry into service.

MOL Group has positioned environmental strategy as a key strategy in its "BLUE ACTION 2035" management plan. It has set a target of achieving net zero greenhouse gas (GHG) emissions by 2050 in the "MOL Group Environmental Vision 2.2." Through this joint study, the group will contribute to the establishment of a clean energy supply chain. In addition, it will proactively respond to the major trend of energy shift and commit to the clean energy business with concerted group-wide efforts to reduce GHG emissions not only from the group but also from society at large.

(Note 1) Approval in principle (AiP) indicates that the certification body has reviewed the basic design and approved it as satisfying the technical requirements and safety criteria.

(Note 2) Hazard identification study: HAZID is a safety evaluation method for plants and systems, which identifies potential risk (hazard) items in a design concept and evaluates the magnitude of the risk and the effectiveness of countermeasures.

(Note 3) It is intended to quickly identify potential environmental impacts at the project planning stage and determine ways to manage or mitigate risks.

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-", "Environment -Conservation for Marine and global environment-" and "Innovation -Innovation for development in marine technology-".