MOL signs MoU with SMT Shipping for joint study of DRI transportation
(Posted on 28/02/25)
Mitsui O.S.K. Lines, Ltd. has announced the signing of a memorandum of understanding (MoU) for the joint study of ocean transportation of Direct Reduced Iron – feed stock for steelmaking, which can be used in electric arc furnaces and blast furnaces – with SMT Shipping (Cyprus) Ltd. SMT Shipping is a global maritime group of companies involved in shipping and transshipment of dry bulk cargo with a fleet of over 65 vessels operating worldwide.
As the steel industry intensifies efforts to lower CO2 emissions in response to the climate change, there is significant interest in the use of DRI manufactured by reducing iron ore using natural gas or hydrogen by which CO2 output is decreased when compared to that of blast furnace using coal.
Marine transportation of DRI requires specialized skills and care to prevent overheating. SMT Shipping is a world leader in the carriage of DRI, while MOL has provided the global steel industry with marine transportation services for many years.
Under the MoU, MOL is committed to enhancing the transport capacity of DRI in order to address increasing demand with necessary safety measures in collaboration with SMT Shipping, thereby contributing to the steel industry's efforts to reduce CO2 emissions.
MOL will leverage its experience and expertise as one of the world's largest shipping companies to develop various social infrastructure businesses, technologies, and services, centring on ocean transport, to meet the needs of a wide range of customers throughout the group. It aims to become a global social infrastructure company, a strong and resilient corporate group that supports people's daily lives from the blue oceans, ensures a prosperous future, and delivers new value to all of its stakeholders.
Latest News
ClassNK releases ‘Prime Shipmanagement Guidelines’
(Posted on 01/05/25)ClassNK has released ‘Prime Shipmanagement Guidelines’ which aim to achieve sustainable... Read more
MCTC ensures quality remains at top of the table amid global tensions
(Posted on 30/04/25)In the face of unpredictable provisioning costs, port disruptions, and longer lead times MCTC has reinforced... Read more
NORDEN raises full-year guidance for 2025
(Posted on 28/04/25)On the back of the increased gains from sales of vessels and good operational performance, NORDEN, a... Read more
INTERCARGO welcomes ILO recognition of seafarers as key workers
(Posted on 28/04/25)The International Association of Dry Cargo Shipowners (INTERCARGO) has welcomed the recent decision... Read more
MMS advises why seafarers must remain vigilant about malaria
(Posted on 25/04/25)Despite its lack of publicity, malaria remains an ongoing epidemic and a perilous threat to seafarers... Read more
Veson: Bulker S&P activity falls sharply in Q1 2025
(Posted on 22/04/25)Due to market uncertainty, overall sale and purchase levels for Bulkers have fallen year on year, with... Read more
Britannia Group announces CEO succession plan
(Posted on 22/04/25)The Britannia Group, a leading P&I insurer, has announced that its Chief Executive, Andrew Cutler... Read more
INTERCARGO responds to IMO's decision on GHG reduction measures
(Posted on 15/04/25)At last week's landmark MEPC 83 meeting, the International Maritime Organization (IMO) Member States... Read more
NORDEN sells two additional vessels
(Posted on 15/04/25)In line with NORDEN’s strategy to realise asset values, the global provider of ocean-based freight... Read more
ILO delivers on Seafarers Key Worker Rights and fair treatment
(Posted on 15/04/25)The fifth meeting of the Special Tripartite Committee (STC) of the MLC concluded last week with some... Read more
