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Mitsui O.S.K. Lines, Ltd. (MOL) has today announced that it has received the 'highest' environmental rating from the Development Bank of Japan Inc. (DBJ), and received a loan based on the rating.

DBJ's environmental ratings-based financing program evaluates the degree of environmentally-responsible management in a corporation, based on its own screening system, and applies three-tier interest rates according to those ratings. It is the first ever financing program in the world to implement such a specialized method of environmental ratings.

MOL's DBJ environmental rating is the first to be given to an organization in the ocean shipping industry. The Japanese firm is one of the world's largest multi-modal transport companies, operating 861 vessels around the globe.

MOL is said to have received high points for its 'particularly forward-looking approaches to environmental consciousness.' The company commented that the 'top-level' rating reflected its efforts to promote the next-generation vessel concept Sempaku ISHIN project aimed at reducing CO2 emissions, and its comprehensive approach to "Eco Sailing" in pursuit of a more environmentally-efficient operation.

MOL added that the rating also refected its efforts to ensure safe operation such as the establishment of its Safety Operation Supporting Center, which monitors all operated vessels on a round-the-clock basis.

"MOL Group continues its efforts to enhance safe operation and promote environmental strategies, which are part of the overall strategy set out in its midterm management plan GEAR UP! MOL. The group strives to evolve as a corporate group that responds to the needs of the times by offering transport solutions with lower environmental impact," MOL said.

Environmental Initiatives

In January MOL introduced its Ship Energy Efficiency Management Plan (SEEMP), which the company says provides 'the most efficient vessel operation method' by using slow steaming, optimum route selection, appropriate maintenance and taking into account ocean currents, and weather conditions in order to reduce fuel consumption and CO2 emissions whilst also ensuring safe operation and maintaining a strict operation schedule.

MOL has also established the Energy Efficiency Operational Indicator (EEOI) for tankers which indicates the CO2 produced in grammes per mile to transport 1 tonne of cargo, based on actual vessel operation, as an index to verify the SEEMP's effectiveness.

MOL has promoted the Sempaku ISHIN project, an environment-friendly, next-generation vessel concept since 2009, taking a proactive approach to the development and introduction of technologies to reduce CO2 emissions.

The company has also taken other measures to reduce the environmental burden of its operations. Earlier this year MOL announced the joint development, along with Akasaka Diesels Limited, of a diesel particulate filter (DPF) for vessels that use marine heavy fuel oil.

In 2010, MOL voluntarily enrolled two of its vessels, the MOL Endowment and MOL Experience, in the Port Authority of New York and New Jersey Ocean Going Vessel Low Sulphur Fuel Program.