{
  "id": 11526840,
  "title": "MOL Ocean Bulk Joins World’s 1st Tri-Fuel Ore Carrier Project- 25-Year Iron Ore Transport Contract Signed with Vale",
  "url": "https://urgent.news/2026/10/02/mol-ocean-bulk-joins-worlds-1st-tri-fuel-ore-carrier-project-25-year",
  "topic": "business",
  "section": "Business",
  "published": "2026-10-02T21:00:39.000Z",
  "source": {
    "name": "Hellenic Shipping News",
    "slug": "hellenic-shipping-news",
    "url": "https://www.hellenicshippingnews.com/mol-ocean-bulk-joins-worlds-1st-tri-fuel-ore-carrier-project-25-year-iron-ore-transport-contract-signed-with-vale/"
  },
  "original_language": "en",
  "account": "Mitsui O.S.K. Lines, Ltd. has inked a 25-year contract with Vale International S.A. to transport iron ore using a fleet of two revolutionary ore carriers. These vessels will be the world's first to employ a tri-fuel propulsion system, capable of running on ethanol, methanol, and conventional heavy fuel oil. Scheduled for delivery in 2030, the ships will primarily transport Vale's iron ore in transoceanic voyages. The tri-fuel engines are not the only advanced features of these vessels; they also boast an LNG/ammonia-ready design, allowing for future fuel flexibility. The ships are designed with various energy-saving technologies typically found in next-generation newbuildings, all aimed at reducing greenhouse gas emissions. By providing fuel flexibility based on availability, decarbonization benefits, and economics, the vessels offer a broader range of options for lowering carbon emissions. Ethanol, a potential renewable fuel, could cut carbon emissions by up to 90% compared to heavy fuel oil on a full lifecycle basis. Mitsui O.S.K. Lines is committed to achieving net-zero greenhouse gas emissions by 2050 as part of the BLUE ACTION 2035 Phase 2 environmental vision.",
  "summary": "Mitsui O.S.K. Lines, Ltd. announced that MOL Ocean Bulk Pte. Ltd., which operates the MOL Group’s overseas Capesize bulker business, has signed a 25-year contract with Vale International S.A. (a subsidiary of Vale S.A.) to transport iron ore using two vessels. As part of Vale’s Shipping decarbonization strategy, the project will employ the world’s first ...",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}