MOL’s Takeshi Hashimoto: decarbonised fuels to be used in combination

He notes there is growing momentum globally for developing the necessary bunkering infrastructure to support this transition.  

MOL is aligning its strategy accordingly, identifying LNG, methanol and biodiesel as short-term alternatives, while positioning ammonia and hydrogen as long-term solutions to achieve net-zero greenhouse gas (GHG) emissions by 2050.

In an interview with Riviera, Mr Hashimoto welcomed the newly approved net-zero regulatory framework within IMO, calling it a positive step that will support the “transition of international shipping in the long-term.” 

He added next-generation ships will require skilled seafarers, advanced vessel management practices, and a greater reliance on AI and digital technologies to optimise operations. 

Our discussion also covered current geopolitical developments affecting maritime trade, including tariffs and proposed US port fees on Chinese-built tonnage. Mr Hashimoto cautioned such measures could prompt a restructuring of global supply chains. On the shipbuilding front, he expressed scepticism about the feasibility of excluding China in the long-term, given it has the world’s largest shipbuilding capacity. 

Looking ahead, MOL will prioritise investments in energy-related shipping segments while also expecting rising demand for specialised dry bulk carriers, particularly open-hatch vessels.

MOL has been a pioneer in decarbonisation, targeting net-zero greenhouse gas emissions by 2050. With the industry moving toward a multi-fuel mix, how do you see this transition impacting shipping operations?

The selection and procurement of appropriate alternative fuels could significantly impact shipping operations and profitability. In the short term, supply centres for these fuels are expected to be somewhat consolidated, which may constrain shipping routes and affect tonne-miles. MOL anticipates these changes will create opportunities for supply chain development and new shipping demand. 

Since the optimal choice of alternative fuel depends on various factors – such as the type and size of vessels and their shipping routes – dedicated bunkering hubs may be developed for each fuel type. Generally, some alternative fuels, including LNG and ammonia, are more challenging to handle than conventional fuels.

To ensure safe operations, which is the primary concern, it will become increasingly important to train and retain skilled seafarers and to advance shipmanagement expertise, regardless of the cargo or vessel type. As multiple alternative fuels will need to be used depending on the circumstances, operational complexity will inevitably increase. This, in turn, will amplify the need for AI and other advanced technologies to optimise vessel operations and enhance safety.  

Do you see increasing momentum for alternative-fuel bunkering hubs worldwide?

Yes, we do. The expansion of bunkering hubs for LNG and biofuels is already underway globally, and methanol bunkering is now available at major container ports.

Ammonia bunkering infrastructure is in development – Singapore, in particular, is making progress and is expected to be ready within a few years.

MOL will consider investments and operational involvement in the development of these alternative-fuel bunkering hubs, depending on future needs.

Following IMO’s MEPC discussions, the industry now faces a new net-zero framework. Do you see this as a pivotal mechanism for emissions reduction? 

We are pleased the framework for mid-term measures to reduce GHG emissions was agreed at the recent MEPC, thanks to the negotiation efforts of numerous national delegations. While we recognise some voices argue the measures are insufficient to meet IMO’s interim targets, we believe the agreed framework is expected to ensure the transition of international shipping in the long-term. As a company that has proactively pursued decarbonisation, we view this outcome positively. 

We expect decarbonised marine fuels – such as e-methane, ammonia and methanol – to be used in combination, depending on a vessel’s type, size, and trading route. To support sustainable decarbonisation across the shipping industry, MOL has rapidly introduced various clean-energy solutions, including LNG as a transitional fuel, while also exploring new technologies and advocating for their adoption where appropriate.

We consider the agreed framework a significant step forward – not only in advancing our own decarbonisation strategy, but also in enabling the wider industry to implement sustainable, long-term emissions reductions. For it to function effectively as a mechanism to reduce emissions, continued collaboration is essential in shaping the system’s finer details and ensuring it delivers operational results within the IMO framework. MOL remains committed to actively contributing to these discussions.