Mitsui O.S.K. Lines Ltd. has joined hands with Tata Steel Ltd. of India to reduce greenhouse gas emissions in transporting raw materials for steel production.
Mitsui O.S.K said both sides will conduct feasibility studies to develop and deploy an environmentally friendly bulk carrier under an agreement that also involves its wholly owned subsidiary MOL Drybulk Ltd.
The partnership will explore the benefits of Mitsui O.S.K.'s Wind Challenger system designed to convert wind energy to propulsive force as well as use of clean alternative fuels.
The technology has the potential to reduce greenhouse gas emissions by 5 to 8 percent by cutting bunker oil consumption through the installation of a telescoping hard sail, according to the Tokyo-based major merchant fleet operator.
MOL Drybulk was founded in April this year through the realignment of part of the Mitsui O.S.K. group's businesses. It operates about 200 ships ranging from 10,000 to 100,000 tons, including bulk careers, wood chip carriers and multipurpose vessels.
The latest deal follows a series of successful contracts on raw materials transportation between the group and Tata Steel, one of the world's biggest steelmakers, Mitsui O.S.K. said. (NNA/Kyodo)