MOL obtains ‘first-of-its-kind’ book and claim certification from ClassNK

Japan’s shipping heavyweight Mitsui O.S.K. Lines (MOL) has received third-party certification for its book and claim service for pure car carriers following an audit by compatriot classification society Nippon Kaiji Kyokai (ClassNK).

It is understood that this is the first time that ClassNK has granted such book and claim methodology certification in the Japanese maritime shipping industry. According to MOL, the service will start in January 2025.

As disclosed, the service will allow MOL to allocate greenhouse gas (GHG) reduction value from the utilization of low-carbon fuels – including liquefied natural gas (LNG) and biofuels – in the company’s car carrier fleet as certificates to industry players who use the fleet’s transport service.

For instance, as representatives from MOL elaborated, when the Japanese shipping heavyweight operates LNG-fueled car carriers, the company should be able to record the GHG emission reductions compared to when they run on fuel oil. Service users could then use the book and claim service to claim the emissions reductions for their own.

MOL has decided to launch as many as 14 ‘brand-new’ LNG-fueled car carriers, with eyes set on soon welcoming further additions of such eco-friendly vessels to its fleet. Some of the newbuilds are owned vessels, while others are chartered.

As per London-based data provider VesselsValue, the Japanese player currently has six large car and truck carriers (LCTC) on order. Nihon Shipyard will allegedly construct two 18,000 dwt units while Shin Kurushima Dockyard will build four. Among the latter, two possess a deadweight ton of 18,800 and two of 18,650.

It is worth noting that, at the beginning of December, Tadotsu Shipyard, part of Japanese shipbuilding major Imabari Shipbuilding Group, completed Lapis Ace, a 7,000 CEU LNG-powered car carrier chartered by MOL and owned by Shoei Kisen. 

The 18,400 dwt Panama-flagged newbuilding was completed in late November 2024. Since it relies on eco-friendly fuel and boasts a high-pressure dual-fuel engine, the estimate is that the ship will achieve a 25-30% reduction in CO2 emissions.

The ship could slash sulfur oxide (SOx) emissions and cut down on nitrogen oxide (NOx) pollution by 80-90% via an exhaust gas recirculation (EGR) system, the companies explained in an earlier statement.

According to VesselsValue, this month, MOL and Tadotsu Imabari launched another LCTC: the 21,000 dwt Liberia-flagged Toulmarine Ace, just four months after the two companies launched and welcomed the 18,400 Panama-flagged LCTC Turquoise Ace.

To remind, in March this year, MOL rang the welcome bell to another Shin Kurushima-built vessel, the LNG-powered car carrier Cerulean Ace.