MOL Ocean Bulk secures 25-year Vale contract for world’s first tri-fuel 210,000 dwt ore carriers

Two newcastlemax vessels able to run on ethanol, methanol and fuel oil to join Brazil-China iron ore trade from 2030

Mitsui O.S.K. Lines (MOL) has announced that MOL Ocean Bulk Pte. Ltd., which runs the 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. MOL announced the deal on October 2.

Under Vale’s shipping decarbonisation strategy, the project will deploy the world’s first 210,000-metric-tonne ore carriers fitted with a tri-fuel propulsion system capable of running on ethanol, methanol and conventional heavy fuel oil. The vessels are scheduled for delivery in 2030 and will mainly carry Vale’s iron ore from Brazil to destinations worldwide, primarily China.

Beyond their tri-fuel engines, the ships will have an LNG- and ammonia-ready design, allowing them to be adapted for either fuel in future. They will also incorporate energy-saving technologies, with the propulsion and fuel options designed to provide flexibility based on fuel availability, emissions reductions and economic considerations. Each vessel will be 299.95 metres long with a breadth of 50 metres.

The choice of ethanol is significant for Brazil-linked trade. On a full lifecycle basis, from production through consumption, ethanol could cut carbon emissions by up to around 90% compared with heavy fuel oil, and its ease of handling is expected to support wider adoption as a marine fuel.

MOL said it will also work with Vale and other partners to develop the ethanol and methanol supply chain, including procurement, supply and bunkering.

The contract supports MOL’s own climate targets. Under its “BLUE ACTION 2035 Phase 2” environmental vision, the MOL Group aims to reach net-zero greenhouse gas emissions by 2050.

The deal is part of a wider series of tri-fuel commitments by the Brazilian miner. At 210,000 dwt, the ships fall in the newcastlemax segment widely used on the Brazil-Asia iron ore route, and the order adds to eight similar 210,000-dwt ships Vale has chartered from HMM under 25-year agreements starting in 2030.